Selling a Fixer-Upper house is a challenge, but certainly not impossible. What helps when you’re selling a house that’s perhaps less-than-perfect is to research and understand who will buy an as-is property.
How to judge a fixer house condition?
Be realistic about the situation of the property
If you’re debating whether or not to sell your home as-is, you need to be realistic about your specific situation. A fixer-upper can be a house that’s generally in great shape but needs cosmetic updates to modernize it. On the opposite end of that spectrum, a home may have serious issues. For example, it might have plumbing, electrical, or foundation issues.
You can start by pricing out the repairs to improve your home. You might do some but not all of them before putting your house on the market. By knowing how much needed repairs might cost, you’re putting yourself in a better position to know the best way to move forward.
Is it worth your time to make some of the repairs? You can get a free resource that can help you figure out the condition and cost to fix up your house.
Who are the potential pool of buyers for a fixer upper “as-is” property?
If you’re selling a house that needs work, you can give yourself an advantage by managing your expectations. Understanding your pool of potential buyers is key to getting a good price. Check out this video about understanding the types of buyers – 4 insights to sell your house Fast
Investors or flippers are one option. A flipper or investor buys a home at a low price, and renovates the property and sells higher. An investor can see through problems and they’re going to focus on potential.
Another pool of possible buyers is people who are looking for a deal. This can be an especially important pool if you’re in a very desirable neighborhood. Someone who’s a deal-hunter might be otherwise priced out of the neighborhood without buying the house that needs work.
Then, there’s a group of buyers who want a project. They want to buy an existing home and put money into it to make it perfect for them.
Can you make part improvements to a fixer upper house to add value?
Make Small, Impactful Changes
Maybe you don’t want to spend the money to do a full remodel, but you can make a fixer-upper more marketable with small, less expensive changes.
For example, focus on curb appeal. Maybe you clean up your yard and get rid of clutter. Trim the bushes and limbs, and do some small projects that will give a better first impression. A home with good landscaping can be worth anywhere from 1% to 10% more than a poorly landscaped home.
Cleaning and decluttering inside is also important. Maybe your home isn’t modern, but if it’s clean and feels fresh, that goes a long way.
Other inexpensive repairs or upgrades you could make include calking, fixing pipes that leak, and patching holes.
Get the free House Rehab Checklist to help understand the cost and the extent of the project.
Are renovation loans a good way to sell a fixer upper property?
The renovation loan is good for a retail home buyer looking for a below market home. Either you or your real estate agent should plant the seeds of renovation loans in the buyer’s mind. Renovation loans mean that the projected costs of a renovation are included in the total loan amount. The advantage for the buyer is that they don’t have to pay for upgrades separately. They can instead get approved for a higher upfront loan amount. Then, they receive that money in phases to cover the costs of renovations.
How to find a cash buyer for a fixer upper house?
Look for cash buyers. There are two main types of cash home buyers. First are the flippers. They want to make a quick profit. They buy low and resell the property for high money gains in a short time. Next are the real estate investors. They pay more because they are in real estate for the long term. They don’t need to make the quick buck.
How to choose the right real estate professional to sell your fixer-upper home?
Whether you make some or none of the needed repairs, the best thing you can do for yourself is to work with an experienced real estate professional. Why is Coffee Real Estate the best choice to buy or sell your home?
You want a real estate agent who understands your neighborhood and understands how to market a house that needs work. Not every real estate agent will excel at selling a fixer-upper, but some will specialize in it.
Why Sell Your House for CASH?
Sell your house fast for cash with no hassle, no games and no fees. When you work with us, we ensure transparency, integrity and consideration for your needs. This is our promise to you.
We help property owners just like you, in all kinds of situations sell their property for top dollar. Property owners find themselves in all kinds of other situations from divorce, foreclosure, death of a family member, burdensome rental property and many more. We buy or help you sell your house in all of California. We are looking for houses in the Sacramento and surrounding areas now because of the strong real estate market. Get paid a fair top dollar cash price for your house in “as is” condition.
If you simply don’t want to put up with the hassle of owning that house any longer, or if you don’t want to put up with the hassle and time-consuming expense of selling your property the traditional way, let us know about the property you’d like to be rid of and get a top dollar cash payout now.
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Selling a fixer-upper is certainly challenging, but it’s also doable.