Real estate market trends have created the impression that for a house to be up for sale, it has to be in perfect condition. On real estate TV shows, home buyers are modelled as picky, often looking out for flaws with the house.
These trends have made it difficult for people with rundown houses to sell and make a profit. The sellers are discouraged by thinking who would want a property that requires so much work in renovations. It could be the very conspicuous rotting roof, the noisy hinges on the doors to almost every room, or the house is simply outdated.
However, by adjusting your strategy, you can still sell your house in a much simpler and quicker process that will leave you with good money in your pocket. Here are 6 tips on you can sell your house without spending time or money doing repairs and upgrades.
1. Get Rid of the Clutter
It’s virtually impossible to not accumulate junk after spending a few years in a house. However, what most people don’t understand is that clutter can make a house look smaller than it really is.
Remember, you’re selling a rundown house. So, the goal is not to make the place appear brand new, but presentable enough to make a profitable sale. There’s also the fact that no one wants to step into a house that looks disorganized and messy all-round so don’t hesitate to get your hands dirty and do some cleaning up.
One good way of going about decluttering is doing a garage sale where you can make a bit of money. You could also choose to donate items that are in good conditions such as clothes to charity.
2. Try and Sell to a Cash Home Buyer
A lot of people usually want a quick sale of their property. If you’re wondering, ‘How do I sell my house fast, York’, it has highly professional cash home buyers who can buy your home quickly.
Selling to a cash home buyer is probably the best decision you can make if the state of your house has rendered it unable to sell on the open market. Professional cash home buyers are often willing to buy a rundown property so they can fix it up and sell it when it’s ready for a new homeowner to move in.
Another benefit to selling to cash home buyers is that the buyer does not require approval from the bank. This means that the sale can be bought fast regardless of the condition of the property.
3. List Your House ‘As Is’
Listing your house ‘as is’, or a fixer-upper, is a safe choice you have when there’s simply too much work in repairs to do, or you don’t have the time or money for renovations. An as-is property is a house that is not ready to house occupants as per the market standard.
However, this option may mean that you’ll not find a buyer right away. This is because most people looking up houses on the MLS (Multiple Listing Service) are probably looking for houses they can move into almost immediately.
If you’re going to list your home as a fixer-upper, then make sure you highlight the best features of the house in a bid to emphasize its value. Try and look at it from the perspective of a potential buyer to try and get a picture of what would work for and against you in selling the house.
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4. Be Honest About the Possible Drawbacks About Your Home
It’s pretty much straightforward that every house has its strengths and shortcomings. Therefore, you should be upfront and acknowledge any drawbacks that come with your property to potential buyers.
As you prepare your listing, make sure you set up an honest description of your house especially because buyers are aware of just how much deceptive property marketing material can be deceptive. There’s nothing as bad as a prospective buyer getting excited by the online ad of a house only to find disappointment when they do a site visit of the property.
5. Do a Cost Analysis of the House Repairs Needed
For you to make a successful sale of your house, you might want to do a few basic aesthetic repairs. This is important because a few upgrades such as fresh paint could pique the interest of potential buyers who would have otherwise passed on your property during their house hunting.
Bear in mind that some repairs will cost more than others. Therefore, you might want to do a cost analysis as you don’t have to fix everything to sell your house. However, make sure that you reveal everything that is wrong with the house, especially those that are not directly visible.
6. Price Your Property Right
Few things kill a real estate deal faster than overpricing its value. You might have spent a few good years in the house and bear immense sentimental value for it. However, try to avoid factoring in your emotions as you try and come up with a fair price value for your home.
You want to set a competitive price that will motivate buyers to pay a site visit despite the condition of your house. You’ll find that you may even trigger a bidding war which may hike up the profits to where you wanted in the first place, or even more.
Make sure your sale price is defined by the square foot coverage of your property as well as its location. Do online research to find out the standard price of a property like yours. If possible, consult a real estate agent to help you come up with a fair price.
Details Matter If You’re Going to Do It Right
Selling a rundown house can feel overwhelming and hard to do especially if buyers keep bypassing your property. Unfortunately, as a solution, a lot of sellers invest a lot of money on repairing things around the house that a buyer simply will not notice or won’t pay extra money for.
The key is finding the right audience for your property; someone who does not mind taking it as-is. Cash home buyers present a good target market from where you can start. Alternatively, with the tips highlighted above, you can market your house to potential buyers who would not mind buying your property at the right price.