Did you know you can sell your home even if it’s deemed uninhabitable or condemned?
Selling a house in poor condition can be stressful. If you’ve never sold a property before, you might not know where to start.
If you’re ready to sell your property, you’ve come to the right place. Since the property isn’t in great condition, there are a few things you need to know before you list it on the market.
Sell to an Investor
You may not want to spend the time and money to repair and renovate your property. House flipping is not for everyone as it can be difficult and expensive. If you’re ready to sell your house that is in poor condition, consider selling it as it is.
There are many people that prefer buying a house in poor condition so they can fix them up and sell them for a profit. When you’re talking to an investor, be sure to disclose all the issues. This includes all electrical and plumbing problems and if there’s any mold or termite damage.
Typically selling to an investor means they are going to give you cash for it. This means you won’t have closing costs or real estate agent fees. Once you’ve found someone willing to purchase your property, the process will go quickly, which is ideal.
Some investors may try to take advantage of you when you’re selling a house as is in Maryland. You’ll want to be sure you get a fair price for your house. Going through a reputable property investment company may be safer than selling to an individual. Looking for signs that say “we buy houses in any condition” is an easy way to find an investor.
Hire a Real Estate Agent
You can also hire an experienced real estate agent to sell your home. An agent will know more about the market and the best way to sell the property. They will have access to more resources, and your property will get seen more.
Selling with a realtor means you have to pay their commission. You’ll also need to communicate with them from the beginning about your needs.
A real estate agent might advise that you make a few renovations to make the property more appealing. If you’re willing to do that, you could possibly get more money, but if you’re set on selling it as is, your realtor shouldn’t pressure you.
When you’re considering selling a house in poor condition, you may want to make some repairs to increase the value. Rapids can get expensive quickly, especially if the home is unhabitable.
However, there may be repairs or tasks you can do that don’t cost anything. Cleaning up the property is a great place to start. If your home has a yard, pulling weeds and mowing can increase curb appeal.
On the inside, consider touching up the paint, cleaning, removing trash, and waxing the floors. If you have any handyman skills, you can tighten screws on loose door handles or patch small holes in the wall.
Spending Money on Repairs
If you have the time and energy to make more extensive repairs, you may be able to increase your profits. Replacing or removing stained carpet can drastically change your home, and updating light fixtures can help too.
While these repairs and changes aren’t necessary, they could increase your profit. They can also be costly, and there’s no guarantee they will bring in more money.
Are Repairs Needed
If you aren’t sure if you want to do repairs or sell as it is, consider the current housing market. If there is a need for housing in your area, your property will likely sell quickly, meaning you won’t need to invest in as many repairs. If the market is moving slowly or if people aren’t moving to the Baltimore area, then repairs could be helpful.
You’ll also want to look at other homes for sell in your area. If there are other properties that are more desirable and updated, it may take longer for yours to sell.
Before you jump into repairs, you’ll want to make sure it’s worth it. You’ll need to consider your return on investment, which may take some calculating. You don’t want to spend thousands of dollars on repairs and only get half of it back in the sale price.
Know Your Property’s Value
Before you sell your house for fast cash, you need to do some research. If you’re trying to sell your property quickly, you may forgo this step, but you’ll likely lose out on some money if you do. Depending on the area where your home is located, it could be worth more than you think.
Part of the value comes from the land itself. If you’ve never sold a home or don’t know much about property values, you may want to talk to an expert or look up other properties in your area.
Keep in mind if your property is in poor condition, you will likely get low offers. If you’re selling it as it is, buyers will have to factor the cost of repairs into their budget, so you won’t get the same price as you would if it was in better condition.
Selling a House in Poor Condition
Selling any property can be an overwhelming experience, but selling a house in poor condition can be even harder. If you’re ready to have your home off your hands, contact us to receive a cash offer on your property. We’ve purchased many homes and we will buy yours too. You don’t have to worry about getting an unfair deal or doing any repairs.