Whether you’ve inherited a home or just haven’t had the time to keep your house in ideal shape, your home might be a little neglected or in need of some TLC. If you’re behind on payments or don’t have the time or cash to put into your home, it can be difficult to imagine it in selling shape any time soon. If this sounds familiar, you still have options when it comes to selling your home. Let’s talk about a few ways to sell a home in disrepair without spending too much money or time fixing it up.
Sell Your House For Cash
If you want to sell a home in disrepair, you can either sell it on your own or sell it to a real estate investor for a quick and hassle-free sale. If your home is in rough shape, you will likely need to price it competitively or sell it to someone looking for a project.
Price Your Home Competitively
A home that is priced competitively will draw buyers looking for a good deal. These buyers won’t expect to find a home in perfect condition and might be willing to overlook a few repairs or problems in their search. That being said, major repairs might cause curious prospects to shy away. Before selling a home in disrepair by pricing it to sell quickly, it might be a good idea to take care of the major repairs your home needs. This could include problems like a leaking roof, cracked foundation, faulty plumbing, or electrical issues. With major repairs solved, buyers will be able to envision living in your home and dealing with other necessary changes. They’ll be able to leave their mark on the space by choosing paint colors, making updates, or redoing the landscaping.
Pricing your home competitively will give you an edge in a market that might be oversaturated with similar properties. A lower price will attract more interested buyers and could help you sell your home faster. However, major repairs can be expensive. If your home needs a lot of work, this might not be an affordable option for you. If you can’t afford the repairs your home needs, you might want to sell it as a project.
Sell Your Home as a Project
If you want to sell a home in disrepair without addressing major changes or renovations, you could sell your home to a unique segment of buyers particularly interested in a project. To do this, you can skip the big expenses like roof replacement or foundation repair and focus on cosmetic updates to show the potential in your home. Spruce up the landscaping around your home, apply a new coat of neutral paint on the interior and exterior, and stage your home with tasteful furniture to show off your home’s character and structural features. Another example is adding new exterior doors which are much cheaper than a foundation repairs but will also quickly add to the value of your home.
Keep in mind you should always disclose any major issues to buyers for safety and liability reasons. The goal of this type of sale is to interest buyers in the future potential your home offers. You may have to adjust the asking price of your home to further incentivize this perspective. While selling your home as a project could help you avoid costly major repairs, it might take a while to find just the right buyer for your project home. If you want to sell a home in disrepair fast for cash, consider selling it in an as-is sale.
Sell As-Is for a Quick Cash Offer
In an as-is sale, you sell your home in the condition it’s in, without making any repairs, changes, or updates. This means you can skip the expensive major repairs like rewiring or roofing and also the minor ones like picking paint colors or staging. You can sell a home in disrepair with zero money spent to prepare it for sale and zero waiting for the perfect buyer. If you sell to a real estate investor, you can sell your home as-is for cash. Real estate investors look for homes like yours, that with some work and TLC, can be a great investment. They have the time and capital to give your home the care and attention it needs.
When you reach out to a real estate investor, they will walk through your home with you and offer you a fair price for its value. They like to work with homeowners to find creative and timely solutions, often completing home sales in as few as five days. A real estate investor can work with you to get out of a tough situation so you can sell your home and move on. If you want to sell a home in disrepair without dealing with the stress or expense of preparing it for sale and waiting for the right buyer, an as-is sale for cash could be the best option for your situation.
Renewed Homes offers our West Michigan clients flexible and creative solutions. If you have a home in disrepair and just aren’t sure where to turn, give us a call or reach out to us online. We’ll talk through all of your options.
Selling Your Home
All the information you need to to make the decision that’s best for you and your family when it comes to selling or rehabbing your home.
Cost of Selling Your
a Retail Transaction
Homeowners enter into the retail transaction process because it’s the only option they know. This guide will help you better understand the transaction process.