You must advertise your home to draw in potential buyers. However, you might want to cover it up if your uneven lawn and peeling paint contrast with the stylish and lush landscaping down the street. But don’t despair. We offer advice from real estate experts who have seen homes in various circumstances to help you feel confident at the closing table. So if you are interested in selling a home that needs major work, the tips in this article are for you. You will learn that most of the time, sellers think their property is in worse shape than it is since they are living in it and seeing it every day. You only need confirmation that the home will sell, which is what we offer. Keep reading to find out more.
1. Clean your property
The quickest and most excellent approach to selling a home that needs major work is also the easiest. You just need a thorough cleaning. For instance, if you are selling an old house as a fixer-upper, you just need to ensure that it doesn’t look chaotic. A mess might drive off buyers and reduce the amount of money you can receive. A simple yard clean-up and basic landscaping can boost a home’s value by 10% or more. Furthermore, landscaping doesn’t just entail hiring experts and selecting the best flowers to grow. An excellent place to start is by getting rid of the weeds and mowing the lawn.
Additionally, you should clean up any stains on the sinks, curtains, and flooring. These easy and affordable tips won’t just increase the return on your investment. They will also help you sell your home faster.
2. Make some repairs and upgrades
As already stated, a good cleaning can help you increase the value of your property. However, doing some simple home upgrades and repairs can increase the selling price of your house even more. Therefore, make a list of all the damaged or worn-out items in the home and try to fix them. Leaky faucets, holes in the walls, and broken appliances may put off many buyers, so you should always take care of those issues first.
Additionally, fix any damaged windows and paint the house a neutral hue. Although it is not necessary to hire experienced painters, you do not want the home’s interiors to look gloomy and dim. That also entails changing any possibly broken lights or light bulbs. Most essential, you should expect any potential buyer to ask for a home inspection before making the purchase. As a result, you must ensure that your home doesn’t have any code violations.
At the same time, if you have furniture that needs repairing but can’t see to it right now, there are solutions to this problem. For instance, you can follow the advice of experts at zippyshelldmv.com and store that furniture in a storage unit until you decide what to do with it. That way, you will have it out of the house and sight of potential buyers.
3. List the home as is
You can still put the house on the market with the “as is” label if you cannot make the necessary repairs. However, there might not be many buyers that show interest in the house. Furthermore, those who show interest might only be willing to purchase if you decrease the price. Some purchasers may also request that you cover their closing fees, which can be around 2% of the home’s selling price.
Additionally, keep in mind that the lack of buyers may cause the house to take a while to sell, mainly if your asking price is considered to be too high. Moreover, you will still be responsible for paying property taxes and other home upkeep fees during this time.
4. Work with a real estate agent
Do not underestimate the importance of a real estate agent if you want to put your house for sale, whether it is “as is” or not. These experts do many things, including promoting your house, negotiating deals with buyers, staging your property, taking photos, or listing it. Of course, they also keep about 6% of the house’s sale price as a commission.
However, an agent will advise you on what has to be fixed and repaired to get your house to sell. At the same time, they might decide to pass on selling a home that needs major work. And even if you decide to be your own agent to save you money and effort, you’ll still likely have to pay the buyer’s agent’s commission. Therefore, it is better to work with an agent that will get their payment from the closing costs, and you will get expert advice.
5. Choose an investor as your buyer
Selling a home that needs major work to an investor is much different than selling it to a homeowner. And fortunately enough, you do have the opportunity to choose your buyer. Furthermore, if you sell to investors, you can make them compete for your property. Make sure you receive multiple offers and resist the urge to accept the first one. Investors’ risk tolerances and goals for the property will vary. A buyer who intends to rent out your home could be able to offer you a higher price than an investor looking to renovate and sell, so be patient.
At the same time, with an investor, you can go beyond the price you would get from homeowners. Because they are typically all limited by governmental criteria for the mortgages they acquire, homeowners’ offers won’t differ significantly. Investors often don’t use banks, so they may be more flexible with terms. The offer made by an investor will also bring more benefits outside pricing that you may find appealing. For instance, you might want a quick closing or to stay in your home for an additional six months before the investor takes over. You can negotiate these terms with an investor.
Final words
As you can see, selling a home that needs major work doesn’t have to be a hassle. You just need to follow these tips, and you will have a smooth and stress-free sale. And if you are looking for a cash buyer in the Triad area, don’t hesitate to contact us. We buy homes in all conditions and can close quickly, in as little as 14 days. If you are looking to sell a house fast in Greensboro, NC please reach out to AIP House Buyers for your guaranteed fair cash offer.. 336-707-5223