3 Tips for Selling a Home That Needs Repairs

27 February 2017
 Categories: Real Estate, Blog

If you have a home that needs pretty extensive repairs, like a new roof or foundation crack repair, you may think you have no choice but to fix it before putting it on the market. But while finding a seller may be easier with the home in perfect condition, it's not impossible to sell a home as-is. Here are four tips to help you sell a home that needs repairs -- without making those repairs yourself.

Get some estimates.

Before you put the home on the market, have a few contractors come in and give you estimates for the repairs. The point is not for you to then make the repairs -- but rather for you to have these estimates on hand when potential buyers show up. If buyers know exactly what the repairs will cost them to make, they may be more willing to purchase your home. Plus, this shows that you are being honest and up-front, ensuring the buyers that you have nothing to hide.

Market the home to the right people.

Chances are, someone with a $200,000 annual salary is not going to consider your fixer-upper, even if it's located in a nice neighborhood and has a few excellent qualities. When you sell a home that needs repairs, you're often marketing to a middle class demographic of people who are looking to save money. Keep this in mind when writing your sales ads. Emphasize factors like the number of bedrooms the home has, its square footage, and its backyard space rather than the quality of the cabinets or light fixtures. Shoppers are going to be searching for a home with "good bones" not one with a fancy face.

Consider selling to a bulk buyer.

There are small companies and even individuals who buy homes that need work, fix them up, and then re-sell them. You may want to search for some of these companies in your area and then contact them directly. They may not give you quite as much as you'd get from a private buyer, but it will be a quick sale, which can save you several months' of mortgage payments and tax payments.

For more help selling a house that needs work, contact real estate agents in your area. If you can find someone who specializes in selling fixer-uppers, they will be equipped to help you write a targeted sales ad and market your home to the right people.