Selling a house can be tricky, selling a house in need of extensive repair can be an even bigger challenge. Most buyers are looking for houses that require little to no work. Even more are looking for houses that have been updated, especially kitchens and bathrooms which can be very expensive upgrades for a house seller who just needs to sell fast and cannot afford major repairs and upgrades.
The challenge with selling a “fixer-upper” is that these houses typically do not have significant upgrades that buyers are looking for. So to be successful selling a house in need of a lot of updates or repairs, you’re going to have to find the right kind of buyer. By working with a real estate professional, it is possible to get a house in need of a lot of work sold and sold fast.
Speak with several different real estate professionals about your house. You will want to work with somebody that has past experience selling a “fixer upper” house. You want to work with someone who has a lot of contacts or clients that may be interested in your house, such as handyman type investors.
If you need to sell your house fast, pricing is going to be the number one make or break when it comes to selling a house that is in need of repairs. You cannot expect your house to sell for the same price as the same house down the street that has been fully updated. If the price is too high, potential buyers will not even consider your house as an option. You will need to gather up the data on the recent sale and current list prices of similar houses in your neighborhood. Then you will need to deduct the cost of repairs to help determine a sales price. If you are unsure on the cost of work that needs to be done, your real estate agent, contractor or house inspector can possibly help you to learn the cost of repairs that are needed.
When marketing your house, the focus should be on the great price. You will want to take advantage of all areas to advertise that your house is for sale. Local newspapers, magazines, ask if you can leave flyers or brochures at the local handyman stores etc. Also house buyers typically begin their search on the internet, so you will want to be sure that you are advertising your house on popular real estate and classified websites for the most exposure.