Do you currently live in a home that needs a lot of repairs? You may be wondering if anyone possibly wants a house that needs work if you’re going to sell yours. If you have that question in mind, then, you’re in the right place to find the right answers.
The truth is that there will always be someone who’s going to want to buy your home—yes, you heard it right. You only need to know who they are. Fixing up your house may cost a lot of money, so follow the tips below instead if you want to sell your property without making any repairs.
- Hire A Real Estate Agent
Of course, the traditional way of selling a house is to work with a licensed agent. The agent will handle the promotion and ongoing marketing of your home. They can also advise you throughout the selling process.
Real estate agents work for investment firms and are licensed professional people who usually handle transactions, placing buyers and sellers together and serving as their agents in dealing with other parties involved in buying and selling properties. Real estate agents receive commissions from the sellers, which vary according to their level of expertise in the field. Most real estate brokers are paid only a portion of the actual selling price of properties. Their salaries also depend on how fast they can close transactions.
- Sell Your House As A Fixer-Upper
Selling a home without making repairs is selling a house as is. It means that the house is a fixer-upper and won’t be renovated or fixed up before it’s sold. In today’s real estate market, sellers are more interested in getting rid of their homes fast than in making repairs. If a buyer can afford the price you have listed for your home and doesn’t want to pay more than they can afford, then, your home could be their first choice. Some buyers can’t handle having to pay more than the price you’ve listed for your home. That’s why there are those who are willing to buy your home even without any repairs.
If you’re interested to sell a house as is and don’t want to hire a real estate agent, you have the following options:
- Sell Your Home To House Flippers
The definition of house flippers is quite simple. House flippers are people who buy homes that they plan on reselling at a higher price than they purchased them for. Flipping is commonly used in the U.S. as a way to refer to buying a property quickly and, then, reselling it for a profit. However, flipping can also apply to other assets, such as first-time properties and real estate. Basically, it’s all about the process of buying a property, paying top dollar for it, then, selling it for a profit.
A flipper’s goal when selling a property is to make a profit. After the property has been purchased, a house flipper can either take possession of the property or try to convince a bank to take possession of the property. If a house flipper chooses to take possession of the property, they’ll have to hire an agent to sell the house and will need to pay them for their services.
Flippers often try to purchase properties going through a foreclosure and, then, flip them. When a foreclosure is taking place, it can be difficult for the homeowner to sell their house because the home hasn’t been put up for sale. When this happens, a house flipper can purchase the property from the homeowner for a low price, then, sell it quickly to make a profit. Many house flippers go as far as putting a house on the market right before the foreclosure happens. Although that isn’t the best situation, it’s still possible to buy a property and, then, flip it when it goes into foreclosure.
If you have plans to sell your home as is and want to sell it very quickly, then, the first on your list of buyers should be house flippers or we-buy-houses companies. You’ll get a fair price for your property without having to spend for repairs and paying for an agent.
- Sell To Home Remodelers
Home remodelers are homebuyers who don’t have enough money to buy properties, but failed to land houses in specific areas they want. Chances are they’ve already found their ideal homes several times. It’s just that others may have snagged them from underneath every time.
As you might know, there’s a lot of competition in coveted neighborhoods. Houses in a subdivision take months to come up, but only take hours to go under contract. Purchasing fixer-uppers makes sense for home remodelers because they’ll now have the chance to redesign the houses to make them look like the houses they haven’t found or have found but was outbid on.
- Sell To Deal Hunters
Another type of buyers you can sell a fixer-upper to is the deal hunters. These are people who want to be situated in a particular part of town, neighborhood, or location, but couldn’t afford the current prices in the said areas. They may see a property that needs improvement like yours as a ticket to getting into their dream neighborhood. The location of your home may just be enough for them to invest in a house that requires renovating.
Basically, deal hunters are willing to buy a home that needs repairs because they’re happy to finally find something that’s in the particular area they want and something they can afford. Another reason is that buying a fixer-upper means that they can actually make any upgrades over time, thus, building equity along the way.
Be sure to understand everything that’s contained in the contract if you opt for the traditional route of selling your property and hire an agent. If you’re considering selling your home as is, make sure that you explore every option you have. The discussion above should help you pick the right choice. Entertain offers from multiple fixer-upper buyers and don’t hesitate to ask to see the exact math behind their offers to find out which is best for you.