Do you need help selling a house that needs repairs? When you have a home that needs to have repairs done, it can be difficult to figure out whether to put some money into the repairs yourself or try to find a buyer who will do the repairs themselves.
This can be difficult to do since most buyers are reluctant to purchase a house with multiple repairs needed.
How to Present it to a Buyer
If you are trying to sell a house with repair issues, here are a few tips on how to handle it:
- Be honest with the potential buyer about what needs fixing and offer them a free estimate that you have researched on what it will cost. Then show them how you have subtracted this amount off of the asking price.
- Give the potential buyer a list of carpenters and other specialists and contractors that you have dealt with and show them how to contact them. This way, the buyer will think it will be an easy process to make the contacts to get started with the repairs after they purchase the house.
- Discuss whether the repairs are important for the welfare or value of the house. Buyers want to know that the house they are considering purchasing is going to be worth what they pay or more in the future. If they think the value will go down due to the repairs, they may want you to come down on the sale price.
When Buyers Won’t Buy Due to Repairs Needed
There are times when you’ll find buyers who simply won’t purchase your house if it is in need of repairs. When you come up across these types of people, you will need to make a deal with them that usually involves throwing in extra things such as furniture or other perks, as well as lowering the amount of your selling price. Houses that have significant repair needs may be hard to sell because they represent added cost to the buyer.
A Great Alternative: Get a Real Estate Investor
The great thing about a real estate investor is that they don’t care if there are repairs that need to be made. Unlike a buyer, they are not going to live in the house and they don’t have to worry about how much it will set them back. Many times, there is no financing involved, therefore no home inspection will be needed.
Investors have the money to pay for repairs and they know that, once they make the repairs, they can resell the house for a profit that will more than pay for the investment they put into it. Real estate investors, unlike real estate agents, don’t get a cut or commission of the sale. It is not a career for them. It is a business decision. They are usually quite familiar with the real estate industry and they know how to turn a profit from their purchases.
When you are selling a house that needs repairs, you need a friend on your side like a real estate investor who understands how to make the most of your property. They know that every house will require some repairs and they are willing to put in money on your house in order to make a bigger profit down the road.
Selling a House that Needs Repairs : The Goal
The goal of selling a house that needs repairs is to have a successful sale. If you solicit the help of a real estate investor, you will increase your chances of a successful sale every time. They have the capital to invest in your house and they can pay you cash, fast. It’s a true win-win situation for everyone.