Sell house as is, as in sell your house in the condition it’s in. Here comes a fast approach on how to sell your house in Tennessee, Maryland, Texas and Oklahoma.
The advantages of selling your fixer-upper to a cash buyer
We understand how stressful, time-consuming and costly it can be to sell your house, especially when you have to go through several advertisements, home inspections and realtor fees. It can become a huge financial burden to sell a house that requires necessary repairs.
In the process of selling a property that requires extensive repairs, you must prepare to answer a few questions like: Will fixing my house before selling it give me more money? Does it make more sense to sell it without making repairs? Suppose I don’t have the financial strength to carry-out the necessary maintenance, how do I sell my house?
Too many repairs and the “Frankenhouse” Contractors
The first strategic move to sell your house quickly for the mouth-watering price is to make it attractive to homebuyers. Although minor finishing issues like painting, replacing appliances, and repairing cracked floors might not affect the sale, some repairs involving rare structural defects must be carried out. Sometimes, significant maintenance and repairs remain hidden and can only be found by way of a professional inspection.
So when trying to sell your house fast, it becomes essential to consider the hidden repairs and the buyer’s reactions to it. Many buyers become reluctant to pay the original price the moment they discover hidden issues. They assume there could be several costly hidden repairs that need immediate attention. In result, they beat-down the price.
Sometimes, you can quickly sell a house that needs repairs. The major challenge is how to make the necessary structural repairs without going bankrupt! Smart sellers use contractors. There are good contractors out there who handle small renovations. Sellers must be able to find reputable contractors. In the process of giving the house a face-lift, many contractors have turned beautiful homes into Frankenhouses. Frankenhouses are homes that feature renovated eyesores.
Frankenhouse contractors provide the buyer with poor floor plans and ugly finishings usually in offensive color schemes and unprofessional room repurposing. In the end, the property stays on the market for an extended period of time (sometimes without selling at all) because it has already been rendered unattractive to the average homebuyer. Although there are contractors that can do extremely good work, this option requires a steeper price tag.
Are you trying to mend some structural defects such as replacing the roof, septic system or deck? This can drain thousands of dollars from your wallet before even having your home listed on the MLS!
Updating or renovating any house requires the right mindset, because a feature that you think is the best could be a deal-breaker for a potential buyer. Renovating a house also differs among regions, neighborhoods and it depends on what is in fashion.
Selling your house with a realtor ‘as is’
What we have been saying so far boils down to one question. The question is how do you sell a house that requires extensive repairs? Hiring a poor contractor to do the job can lead to serious disaster. In many cases, some homeowners consider selling their home as is with the help of a realtor as their best option. Applying the traditional method of selling your house fast as-is using a realtor is a difficult one.
The steady growth in the housing market has made homebuyers very selective with the long list of available homes for sale. Homeowners whose houses require extensive repairs need to prepare themselves for fierce competition and a relatively longer timeframe that their house could stay on the market. Not only does the homeowner have to pay for the carrying costs associated with the home while it is sitting on the market, but realtors usually suggest a lower price for houses that require repair as well. And while going through all of this, you have to pay realtor commissions as well!
The primary concern of your realtor is selling your home and receiving a commission even if it isn’t sold to the right buyer at top price. Many times, using a realtor to sell your home can technically mean you have agreed to sell at any price. Realtors also charge unexpected fees and commissions. They offer unsolicited advice on how to manage your property. For Sale By Owners (FSBOs) cuts selling costs in half by avoiding broker’s commissions. A homeowner can literally save thousands of dollars by avoiding realtors when home selling.
An easy way out
You can never sell a house that requires extensive repairs quickly by using a contractor without backbreaking fees, tedious paperwork, and other administrative hassles. You think you will have a better experience with a realtor? The only way to have a smooth, hassle-free selling experience is to sell your home directly to a cash buyer.
The mention of cash buyer may sound unappealing, although it has become a common practice in the current housing market. According to 2012’s Investment Issue of Forbes Magazine, about 30 percent of homebuyers used 100% cash when purchasing a home. Some even estimated a higher percentage.
When trying to sell a home that requires extensive repairs, many struggles that sellers face quickly disappear when they accept the cash offer. The ability of a cash buyer to skip the mortgage process brings about a much quicker close. Boycotting banks and other payment processors to sell directly to cash buyers’ means closing the deal and getting paid within a week instead of waiting for months. By this, sellers make more money really quick.
Sellers also enjoy more stability by selling to cash buyers. They make offers on your home after they are approved, so be assured of the best deal ever when a cash buyer is interested.
It suffices to say that accepting an offer from a cash-buyer arguably remains the best advantage of selling as-is. A cash buyer will buy and pay the equal and fair price for your home just the way it is. You don’t have to worry about making major repairs in order to appeal to the average cash buyer.
So, what exactly should be done to sell a house that needs too many repairs?
First is to do away with expensive renovations. Avoid contractors and realtors. Go out there and search for an all-cash buyer. With them, you have more money and more security that you won’t get elsewhere.
Get a free all-cash offer within 24 hours
Alas! You don’t need to search any further. Fortunately for you, we buy houses in Maryland, Tennessee, Oklahoma and Texas. We work overtime to facilitate a free no-obligation cash offer for your home in 24hrs. In case you consider our offer to buy your house unsatisfactory, you can turn down the offer without being charged a dime. Fill out our form or give us a call at 888-914-7325.
It will be our ultimate pleasure to hear from you today about your home situation. It doesn’t matter if you decide not to sell your home to us. We can yet help you in many ways.