7 Tips for Selling a House in Poor Condition
Selling a house in poor condition can be a challenge, to say the least. It can be even more difficult in a slow market or buyer’s market.
However, selling a home as-is is not impossible. In fact, it can be incredibly quick and easy.
Ultimately, you need to decide what to do with your home based on your circumstances. Do you have the time and money to invest in repairs and renovations? Do you want to invest the mental, emotional, and physical effort into fixing up the house?
We’re here to guide you through the process of selling a distressed home. Keep reading for everything you need to consider and learn more about your options.
1. Understand the Condition of Your Home
First, you need to learn more about your home’s condition. You might know your house needs work, but do you know the extent of its damages and issues? If you want to sell your house on the market, you must get an official house inspection.
A professional home inspector will evaluate your property. Their inspection could uncover problems you didn’t know existed, such as foundation issues, roof issues, water damage, and more.
It’s important to learn about these things now, rather than when you have an interested buyer on the line. If a buyer is interested in the house, learning about these types of issues could scare them away.
2. Determine the Value of Your House
Once your home has been inspected, you can accurately determine its value. When selling a house in poor condition, it’s imperative to price the home right. A buyer won’t look twice at a home that’s in as-is condition if it’s priced too high.
Additionally, pricing your home based on its condition will likely draw in the type of buyers you’re looking for. This includes fix-it and flip-it investors, young couples looking for fixer-uppers, etc.
Conduct a comparative market analysis by assessing the homes that have sold in your neighborhood in the last few months. What have those homes sold for? How do those homes compare to yours in terms of size, condition, features, age, etc.?
Alternatively, you can have the home appraise by your bank, which might be required by the buyer’s lender regardless.
3. Know Your Selling Options
When selling a house as-is, it’s important to know your options. Selling your house traditionally by hiring a real estate agent and listing it on the market isn’t your only option.
If your house is in disrepair and you don’t have the time, money, or inclination to fix it up, consider selling to a cash home buyer. This can be a quick and easy way to get rid of the house and move on with your life. For most people, it’s an opportunity to start fresh.
However, we understand that you might have reservations about selling to a cash home buyer, and that’s okay. Check out our answers to frequently asked questions about selling your house to cash buyers.
4. Consider Making Repairs
If you want to invest a little time and money in your house in hopes of selling it for more money, you need to decide which repairs and renovations are worth your investment. For example, you might need to repair the roof before a buyer can get approved for the mortgage. In this case, you might find financial assistance through your insurance company.
However, remodeling the kitchen, putting in new floors, and re-siding the house might cost more money than it’s worth. Do a little research and talk to your realtor (if you have one) to determine which repairs to complete. In some cases, it’s more financially prudent to cut your losses when selling a house in poor condition, rather than investing in a bunch of repairs.
5. Do Your Best to Improve Visual Appeal
If you aren’t planning on doing a lot of heavy renovating, you can always make aesthetic improvements. These types of renovations are easily affordable and don’t require a ton of time. However, aesthetic updates can make your home more attractive, and thus, more appealing to potential buyers.
Here are some easy updates you can invest in:
- New interior paint
- New exterior paint
- Updated fixtures (light fixtures, doorknobs, drawer pulls, etc.)
- Patched drywall
- Improved curb appeal
- Repaired trim
- And more
You don’t have to spend a ton of time or money to make your home look better. Just don’t make aesthetic improvements with the intention of hiding bigger issues.
6. Highlight the Home’s Positive Features
When selling a house in poor condition, it helps to highlight the home’s positive and unique features. Older homes are more difficult to maintain, which is often why people find themselves selling them as-is. However, older homes also have unique and charming features that are not common in modern architecture or new construction homes.
You can capitalize on these features by highlighting them in the listing. Buyers who appreciate the nostalgia and pre-modern architecture will be drawn to look at your home, even if it is in rough condition.
7. Know When to Make a Quick Sale
Finally, it’s vital to accept when your circumstances require decisive actions. While it’s tempting to make improvements to your house to sell it for more money, it might be better to make a quick sale to a cash home buyer.
This is especially important if you’re facing a time-sensitive situation. For example, if you’ve fallen behind on payments and the bank is threatening to foreclose on the home, selling it sooner rather than later is in your best interest. Having your home foreclosed on can tank your credit score, making it difficult to find another home or make other investments in the future.
Alternatively, you could have a job opportunity in another location that you need to jump on immediately. Maybe you inherited the home and don’t have the money to invest in renovations.
Regardless of why you’re selling a house in poor condition or why you need to sell it immediately, a cash home buyer can help. Click here to learn more about the process of selling your house to us.
Need Help Selling a House in Poor Condition?
As you can see, selling a house in poor condition can be difficult. However, it doesn’t have to be.
If you’re between a rock and a hard place or just don’t feel like putting in any more time and money into your house, we can help. Contact us today to get a fair cash offer for your home. If you accept our offer, we can close on your home in a matter of weeks.