Do you need to sell a house that’s not in great shape? If so, you may be wondering how on earth you could possibly do this. In real estate circles, it’s common knowledge that home buyers want properties that are in good condition at the very least. As such, if your house is in a really bad state of disrepair, and you’re unable to make these repairs before selling, you may be doubting whether it’s possible to receive an offer for it at all.
Well, it is possible. However, it won’t be very easy. When it comes to selling a house, one of the largest expenses you’ll have to deal with comes from the repairs you’ll have to make to fix your property before selling it on the open market. The repairs and upgrades that properties usually need (in order to become listing-worthy) can quite literally run into the thousands, if not the tens of thousands. As such, being unable to make these important repairs before selling (because they are so expensive) is perfectly understandable.
In this blog, we’ll give you a few tips on how to sell a house that needs repairs. For more information on the subject of home repairs, you may also be interested in reading another one of our blogs that focuses on The Most Expensive Repairs Homeowners Face When Selling Their Homes in Saint Paul MN.
Tips for Selling a House that Needs Repairs
Read on to discover what you can do if you need to sell a fixer-upper property that needs repairs in Saint Paul MN.
Option 1: Sell Your House “As-Is”
Listing your house for sale in “as-is” condition is a way to sell a house that Needs Repairs.
To sell a house that needs repairs in Saint Paul, you could list the property “as-is”. This informs all potential buyers that no repairs will be made to your property prior to sale. Nor will any credit towards the repairs be met as a contingency of the sale.
Naturally, buyers will expect a bargain price when they look at homes that are sold in “as-is” condition. In addition, as most buyers will request an inspection, it would be wise to have your own inspection and appraisal done. This will allow you to be fully armed with all the financial facts at the negotiating table, which could help you avoid law-ball offers due to your “as-is” sale.
Also, your buyer pool may suffer. Regrettably, lenders have standards for homes that are purchased from mortgage loans and require inspections and appraisals. As such, your pool of buyers may be limited. But above all, it is very important to be honest about everything. Disclosing all the facts when selling your house to a regular buyer could help you avoid facing any future legal battles. So we’d therefore advise you to meet all your disclosure obligations when selling your house in Minnesota, even if you’re selling it “as-is”.
Option 2: Make the Needed Repairs
Hiring an Inspector, then paying for all needed repairs is another way to sell a house that Needs Repairs.
Another way to sell a house that needs repairs in Saint Paul MN is to get the repairs done before you list your property. If you can afford to, this will require you to have your home inspected by a professional, then get an estimate from at least three reliable contractors for the work. Through these actions, you will have a realistic picture of what it will take, both in terms of time and money, to get your home ready for listing.
Be certain to allow a buffer of 10 percent more than the known work estimate into your home repair budget. This will help you avoid being caught off guard by any other issues that can come up when your buyer hires their own inspector. You should also allow a buffer of time when you are making your plans. This will make it easier for you to accommodate any delays that may arise.
Option 3: Sell Your House Directly to FastPath
Selling your house directly to FastPath Home Buyers is a great way to sell a house that Needs Repairs.
Finding a buyer when selling your house “as-is” is not a very easy thing to do. Sadly, should you attempt to list your property “as-is,” many buyers will immediately turn away. This is because most home buyers prefer a house that is in “move-in” condition. So your house is bound to spend some time sitting on the market. But this doesn’t have to be your fate!
Instead, you should consider selling your house directly to FastPath Home Buyers. Here at FastPath, we buy houses fast in Saint Paul MN, and throughout the greater state of Minnesota. If you sell your house directly to our company, you’ll get an easy sale experience that requires No Fees or Commissions. 100% Free. In addition, we don’t require inspections and appraisals, and we’ll accept your house in any condition (No Repairs! No Cleaning!).
Are you ready to sell a house that needs repairs in Saint Paul right now? Why not make a wise choice and start working with FastPath Home Buyers! Simply call (612) 351-2384 or fill out the short form below to get your all-cash offer today.
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