7 minute read –
What do you do when you need to sell your home for cash, fast, but doing extensive repairs to bring the highest price possible is out of the question, either because those repairs and updates are too expensive or will take too much time? Time is money, especially in real estate!
Home sellers have a few options in this scenario, including selling their property “as-is” for cash, or only repairing and updating the expensive, yet needed items around the house most traditional buyers are concerned about.
In this real estate blog article, you’ll learn options for selling a house that needs repairs and updates, in a short timeframe.
1.) Sell as-is
- Selling the home “as-is”: Selling your home as-is means that you aren’t going to be spending time making any repairs — what the buyer sees is what the buyer gets. Be aware that a traditional buyer using traditional financing may still request an inspection. Of course, when you sell a house as-is, you’ll likely have to accept a lower sale price than you would if you had completed all the important value-adding updates and maintenance before selling.
- Inspect and disclose everything: Another option for selling as-is is to complete a pre-inspection by hiring a licensed home inspector and disclose everything found on their inspection report. These inspectors vary in costs but are generally a few hundred dollars depending on the sqft of the home and location. Again, you’ll likely have to lower your price, to position your home as a great opportunity for investors, flippers, or people looking for a fixer-upper opportunity.
2.) Perform home improvements and repairs
- Correct the highest priority issues: Few traditional home buyers are okay with a home that needs some cosmetic fixes, if your time and budget allowance are limited, consider just putting your efforts into the most important home improvement items. Foundation damage, mold, water leaks, or a furnace replacement are just a few examples (more on these big-ticket items included in this article).
- Attend to minor cosmetic fixes: Alternatively, you can spend your time and money on the most cost-effective renovation tasks. These fall under the category of “sprucing up.” They’ll go a long way toward improving your curb appeal, which can make a big difference with buyers. Read on for more details.
3.) How do I sell my home fast, as is, without completing any repairs?
Selling to a cash buyer or real estate investor is another way to skip the time-consuming and costly renovations, and even bypass the listing process itself. At Realblvd, we offer Direct Sale; we’ll buy your house directly, with private funds, a.k.a. “a cash purchase”, after you just answer a few questions about your home, and a home evaluation is arranged at no cost to you.
You’ll avoid the time and expense of selling your home the traditional way, and you can close when it’s convenient for you. There’s no commitment, which makes it easy to see how much you could get in cash for your home.
The most important home improvements to complete instead of selling your house fast, in “as-is” condition.
If you’re looking to get a price for your home that’s better than an “as-is” price, consider tackling the large-ticket repairs and updates that most traditional buyers are the most concerned about. Keep in mind, for most traditional buyers, a significant portion of their available cash reserves goes to their down payment (between 5-20% of a home’s price), so a home that requires immediate work may be out of reach to the majority of traditional buyers in the market looking for a home to move into or do some fixes and updates to.
4.) Home improvements worth doing
These are the most common expensive items buyers and their inspectors could flag as safety issues that can prevent them from obtaining traditional (conventional) financing:
- Replacing old or damaged siding
- Repainting the exterior and interior of the house.
- Replacing the roof and other issues with the ceiling in the home.
- Replacing old flooring with new flooring/carpet
- Removing the asbestos-filled ceiling by hiring a certified company
- Updating the older windows
- Updating the electrical panel
- Installing a new water heater
- Addressing termite, mold, or water damage
- Repairing pipes, sewer connection, or septic system
- Updating the galvanized plumbing to copper.
- Updating the HVAC system
See how our home improvement program, Turnkey Sale, can do all these items by our team, without you dealing with any hassles, and paying anything upfront!
5.) Easy upgrades to sell your home fast and for the most value possible.
Beyond any critical updates, think about the following easy things to do before selling your house. Many of these items can be tackled over a weekend before putting your house on the market through a real estate broker.
- Caulking in bathrooms and kitchens
- Improving lighting by adding fixtures or replacing bulbs
- Having the carpets professionally cleaned
- Decluttering the entire house
- Painting interior walls neutral colors
BONUS: How to sell a house that’s a “fixer-upper” and avoid the pitfalls, expenses, and time needed to sell the old-fashion way
If you want to know how to sell your home fast and for top dollar, your best move is to enlist the help of an experienced local real estate broker that can provide you with resources to obtain the most value for your home sale (and pocket)
Make sure to find an agent who has experience with marketing fixer-uppers. At Realblvd, we have over 16 years of experience focusing on working with these exact types of “fixer-upper” home sales!
We’ve partnered with innovative companies to provide you an advanced listing option with concierge services to get your home updated to maximize its sales price! See Turnkey
Selling For Sale By Owner (FSBO)? Here are a few tips to make the most of your fixer-upper sale:
- Focus on the positives: Even if your house needs improvements, things like the location, lot size, and floor plan can be big selling points.
- Price it appropriately: Pricing your home is a bit of an art form. Make sure the price accordingly. Compare your home to other comparable homes in similar conditions and neighborhoods. Enlisting a real estate appraisal may be a great idea to see what your true market value is currently as it sits!
- Contact Realblvd: You can sell your property in its current condition without doing any repairs or updates. We pay the typical closings costs, and you choose the closing date that’s convenient for you. Get the certainty of a done deal with favorable terms and a fair-priced all-cash offer! Learn more by visiting our website page with an exclusive offer to purchase your property! Click here