Selling a house that needs repair work is becoming a common practice in the real estate industry today. Many homeowners are into selling their property for quick cash, while others just need to get rid of the stress of owning an extra property and maintaining it. Questions like "I want to sell my house as is, what should I do?" is just one of the common questions a real estate agent or market expert hears almost every day.
So if you have the same questions, you should continue reading as we have provided helpful information that you can refer to by the time you need to sell your house.
"I want to sell my house as-is. What should I do?"
Selling a house as-is is what many homeowners want if they fall in one of the following situations:
the house needs a major repair but doesn't have the cash to do it
they need a quick cash
the house is passed down inheritance
want to move out to a bigger place
To help you sort things out, here are the best ways you can do in those situations.
The house needs a major repair but doesn't have the cash to do it
This is a very common reason for many homeowners, especially if the house is already old and ugly. That is very unfortunate. However, look at the brighter side as there are potential buyers who are into buying homes that require major repairs.
Knowing your target market can help you easily make the sale. But if you don't have any knowledge or need assistance with it, employing a local real estate agent can help you get through the process.
Best move: Research a specific target market like fixer-upper and investors. They are commonly the ones who get interested in buying a house that needs repair. But you need to fully disclose everything that concerns your house condition. Do not downplay anything. This is to avoid any legal actions in the future.
The need to have a quick cash
Desperate sellers exist, and this type of seller needs quick cash, and doing the repairs is out of the picture. Their situation is as bad as anyone can imagine, yet there is still a possible way for them to get it done.
Best move: Going all the way and having the house sold to cash buyers. In this way, you can have the money right away, hassle and stress-free. Plus, you don't need to spend extra cash in listing your home in the housing market. Selling it to cash buyers saves you extra money that you'll get to spend on the realtor fee and other processing fees that the transaction entails.
The house is passed down inheritance
Everybody wants to receive an inheritance, but an inheritance in the form of a house is an additional expense waiting to happen. Not everybody is capable of maintaining another property, especially if its shared inheritance. To avoid stress and possible family conflict, selling an inherited house is the solution.
Best move: Look for a niche-buyer. These types of buyers are into specific details in the listing, such as the location, house details, and features like the house has a veranda and other amenities like the spacious living area and beautifully done landscaping.
Want to move out to a bigger place
If you are planning to make a bigger family, getting a bigger house is the key. As much as you like to see your kids running around, the small space in your living area is just not enough. But getting a bigger house needs money, thus the reason you need to sell your old place.
Best move:
1. If your old house is still in good condition, price smart is what you have to do. Try considering your neighborhood and your location. If you set the price right, there is a high chance that there will be many who'll get interested in taking a look at it.
2. If it needs minor repairs, consider doing it. Have the walls repainted, change some door knobs, check the caulking in the bathroom, and see to it that all bulbs are working. These minor repairs can make a significant difference in selling your home fast.
Takeaway
There are many reasons that drive a homeowner to sell his/her property. It could be that he/she needs to migrate, need a bigger house for a growing family, or just need quick cash. Whatever the reason, selling a house is not an easy feat to do, more so, if it needs repair work. Fortunately, there are effective ways of making the sale possible. You just need a couple of things to be done and a little bit of assistance from a trusted real estate agent.
