How to sell a fixer-upper house fast
Understanding how to sell a fixer-upper
Selling a fixer-upper can be a daunting task, but it’s not impossible. Understanding your options and making informed decisions are important when you want to sell your house “as is.” Let’s go over some key factors to consider when selling your fixer-upper, including what you may want to fix and what you can skip, how to sell a fixer-upper, and what home buyers look for.
How to assess your house’s condition
Before you start your selling journey, it's important to assess the condition of your house thoroughly. Take a close look at the structure, plumbing, electrical systems, and cosmetic issues. A professional inspection may be recommended to find any possible structural issues. Keep in mind that understanding the extent of needed repairs is crucial in order to make informed decisions when selling your fixer-upper.
Assessing your house’s condition isn't just about cosmetic appearances. It's about uncovering any potential pitfalls that could affect the outcome of your sale, especially if you need to consider Minimum Property Requirements (MPRs) when potential buyers need to qualify for loans.
Should you make repairs before selling?
Before you start the selling process, you need to decide whether to invest in home repairs or sell your property “as is.”
Potential pros of making repairs:
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Higher selling price
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Larger pool of buyers
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Easier financing for buyers
Potential cons of making repairs:
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Listing delays
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Cost and time
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Stress and hassle
Since home repairs can be expensive, the decision to make repairs before selling your home requires a trade-off between potential financial gains and the upfront costs and efforts required.
Know what home improvements to make.
Do you want to sell your house fast but not spend a lot of time and money on repairs? Here are some smaller tasks you could consider doing:
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Cosmetic enhancements: Even when selling a house “as is,” some simple cosmetic improvements can make a big difference. Consider repainting the walls, replacing damaged or old fixtures and cleaning any carpeted flooring. These changes can enhance the overall appeal at a low cost.
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Curb appeal: Spending some time and effort on the exterior of your property can attract potential buyers. Trim overgrown bushes, mow the lawn, and add a fresh coat of paint to the front door. A well-maintained exterior can make buyers more willing to explore the interior.
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Small repairs: You should address any critical or safety-related issues. Fix leaky faucets, repair broken windows, and ensure that all electrical and plumbing systems are functional. These repairs may be necessary to pass inspections or attract certain buyers.
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Clean and declutter: A clean and clutter-free home appears more spacious and inviting. Deep cleaning your property and removing excess clutter can help potential buyers envision the space's potential.
While these improvements can enhance your property's marketability, remember that selling a fixer-upper house “as is” without doing any minor repairs can also be a great option, especially if the repairs are extensive, or you're in a time-sensitive situation.
How to sell a fixer-upper house fast
Selling a fixer-upper house quickly can be a priority for various reasons. Maybe you're looking to relocate for a new job opportunity, you’re downsizing for retirement, or you simply want to avoid the stress and expense of the traditional selling process. Whatever your motivation, here are some strategies to help you sell your fixer-upper fast:
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Price it right: One of the most important factors in selling any fixer-upper house fast is setting the right price. Your asking price should be competitive for the condition of your property. Consider getting a professional appraisal or a comparative market analysis (CMA) done to determine a fair and attractive price point.
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Effective marketing: To attract potential buyers quickly, you need to market and stage your fixer-upper house effectively. High-quality photos and a compelling description are essential for online listings. You should highlight the property's best features and its potential, focusing on aspects that can be easily improved.
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Flexible terms: Be open to negotiating terms with potential buyers. This can include offering concessions, such as covering some closing costs or providing a home warranty. Flexibility can make your property more attractive and speed up the closing process.
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Transparency: Always be upfront and transparent about your fixer-upper's condition. While disclosure laws vary from state to state, you should disclose any known issues or needed repairs to potential buyers to avoid future legal action after the sale of the property.
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Work with a real estate agent: If you want to sell your fixer-upper house on the traditional market, working with an experienced real estate agent who specializes in selling fixer-uppers can be a real game-changer. They can provide market knowledge, a network of potential buyers, and negotiation skills.
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Sell to an off-market home buyer: If you’re wondering how to sell a fixer-upper house fast, selling to an off-market home buyer may be your best option. They can make an offer and close the deal quickly. These direct buyers are accustomed to purchasing properties in “as is” condition, which means you won't have to invest time or effort in repairs.
Remember that finding the right buyer who sees the potential in your property is key, and with the right approach, you can get the sale you want.
What are your selling options?
When it comes to selling your fixer-upper, there's more than one route to take. There are three primary selling options: investors, flippers, and off-market home buyers.
Investors: Investors are individuals or groups who purchase properties, often including fixer-uppers, as part of their real estate investment strategy.
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Pro: Many investors, like iBuyers, work exclusively online. This means that you can get an offer regardless of your property’s location, without the need for an agent, an appraisal, or an inspection.
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Con: While online offers are simple and easily available for almost everyone, working exclusively online means that these investors tend to provide more impersonal service than other buyers and apply a one-size-fits-all approach.
Flippers: House flippers are a type of real estate investor that specializes in buying fixer-upper houses, renovating them, and then selling them for a profit.
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Pro: A flipper’s main job is to buy fixer-upper houses, which means that when you are selling your house “as is,” a flipper may be interested in even the most distressed and dilapidated properties.
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Con: Flippers aren’t required to be licensed or accredited, so you will need to verify that the flipper is a legitimate buyer.
Off-market home buyers: Direct home buyers are individuals or companies that purchase homes quickly, often in their current condition.
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Pro: When you sell to an off-market home buyer, you don’t have to deal with appraisals or contingencies.
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Con: Some direct buyers charge fees for their services. These fees can be as high as 13% of the sale price.
Each of these options has its advantages, and the best buyer for you will be based on your specific circumstances and priorities.
How to find an off-market home buyer
If you’ve decided that you want to work with a direct home buyer, then finding the right buyer can significantly impact your selling experience. To do this, you should check online platforms and real estate networks to connect with potential off-market buyers. Additionally, it’s important not to fall victim to a home-buyer scam, so you should vet any potential direct buyers you’d like to work with by reading customer reviews and contacting the BBB (Better Business Bureau).
Sell your fixer-upper house to We Buy Ugly Houses®.
Selling a fixer-upper house can be fast and hassle-free with We Buy Ugly Houses®. We have a seller-focused, 3-step selling process that lets you go from consultation to closing quickly. This is how it works:
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Free consultation: Start with a free property assessment. We'll visit your home, discuss your expectations, and assess the condition of your fixer-upper house.
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Fast offer: Once we’ve seen your property, we can make a no-obligation offer based on your home's condition and market value.
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Flexible closing: Thanks to our 25 years of experience, we can streamline the process, allowing you to close fast, sometimes in as little as three weeks, when you sell your house "as is." We pay typical closing costs, and we don’t charge any commissions or hidden fees.
Our offers are typically below market value in exchange for speed and convenience. When you sell your fixer-upper house to We Buy Ugly Houses, you get to skip:
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Cleaning
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Repairs
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Commissions
Ready to sell without the stress of repairs and renovations? Let's turn your house into a hassle-free home sale. So don't wait—the solution to selling your fixer-upper house may be just a click or a call away.
