If you’re looking to sell a fixer-upper house — which is a house that is in a habitable state but could be better with repair — then you would need to understand the process. When selling a house like this, you would likely get a lot of offers from investors and cash buyers because they know it holds a lot of potential.
As such, you need to tap into this knowledge to get maximum capital gains for your house. Here are five things you should absolutely know when selling a fixer-upper house.
Work With a Clean Slate
If you want to fast-track your fixer-upper sale, creating a clean canvas with the home is a critical step. You want to ensure that you clean up the house so potential buyers can see exactly what they would be working with.
Here are a couple of aspects to go over regarding cleaning.
Decluttering
Clutter has a way of putting your house in a less-than-desirable light. So, when selling a fixer-upper, you want to declutter the entire indoor living space as well as the garage, basement, and attic.
This is also a great opportunity to sort stuff you don’t need anymore from what you still do. Throw out the former and stack the latter neatly in boxes.
Depersonalization
When you live in a space for long enough, you start to have personal items like picture frames, antiques, and the like. Depersonalizing the space involves taking all these down. What this does is that it allows potential buyers to visualize themselves in the house.
Window Cleaning
This may sound pretty basic and is, however, it goes a long way in boosting the home’s image. Remove dirt, grime, and smudges thoroughly. Soap and water and a soft cloth to clean off the water would do.
Mold and Mildew
This is mainly a bathroom activity. Use a bathroom cleaner or household bleach to get mold and mildew out of the tile and the grout in the shower area and around it too.
Carpets
Liquid spillage and tracking dirt can stain your carpet. Ensure that you shampoo the carpets to make them extra clean.
Boost Your Curb Appeal
As it is with selling a regular home in its prime state, you would also need to work on curb appeal when selling your fixer-upper. Many homebuyers rank outdoor space high on the list of home features they want to have, so you want to do an excellent job with yours.
Similarly, the outdoors is the first impression that buyers have of your home, and it can either make or break purchase decisions in some cases. So, while decluttering, depersonalizing, and cleaning the indoors, pay attention to the outdoors as well.
Some activities you can carry out to boost curb appeal include:
- Trimming trees and shrubs
- Cleaning out the roof and gutters
- Cutting up the grass
- Putting a fresh coat of paint on your mailbox
- Clear up any debris or dirt in the front yard
Full Disclosure
In any transaction, you’re looking to foster trust, and this is especially true when trying to sell a fixer-upper. Don’t try to downplay the amount of work that the property needs. Rather, be as honest as you can be.
You could also carry out a pre-listing home inspection, which lets you know everything that needs work. This way, you don’t end up looking dishonest when the buyer’s inspection unveils some issue you didn’t know about.
Providing a pre-inspection report is proceeding in good faith, and it can help you with the overall sale, too. Since buyers know exactly what they’re working with, they can either choose to make an offer or leave without dragging out the process.
A home inspection would typically set you back between $192 and $500 and an average of $342, with the inspector looking for the following:
- Plumbing issues
- Electrical issues
- Damaged HVAC system
- Mold
- Pest/insect infestations
- Old or damaged roof
- Water damage
- Foundation/structural issues
Set a Realistic Price
Setting a realistic price is critical to selling your fixer-upper. Granted that you would likely have some buyers give you a lowball offer or try to negotiate excessively, this doesn’t imply that you should initially overprice.
What setting a realistic price does is that it first gets potential buyers through the door. When setting a price, you have to factor in the several repairs and upgrades the house would need. You could run an estimate for these and take it out of the selling price. This is why having a pre-listing inspection is an excellent idea.
If you are looking at selling to an investor or local cash buyer, you can determine your price using the home’s after-repair value (ARV). This refers to how much the property would go for on the open market after all the needed upgrades and repairs have been carried out.
Work With a Cash Buyer
Working with a cash buyer when selling your fixer-upper is especially advised for several reasons. For starters, you don’t have to go through the rigor of inspection or appraisal contingencies, which are the reality of selling the conventional way.
Next, it is a surefire way to sell your house fast. Unlike traditional sales, where your house stays on the market for an average of 50 days, you can close the sale in as little as 7 days. Since the buyer knows exactly what they are dealing with, there would be little to no back and forths prior to closing.
You can find a cash buyer by looking up those in your area on the internet. For instance, if you’re looking to sell a house fast in the San Francisco Bay Area, we can help out with that!
We buy houses that need serious repairs or are in various other conditions. At dsouzahomebuyers, we can provide you with a cash offer for your house in no time!
You don’t have to deal with any of this hassle. No need for repairs or renovations!
Fill out this form to get the process started, and we could be closing in as few as 7 days! Remember, no fees, no commissions, no closing costs!
If you have any other questions, definitely call us at (925) 503 8193.
Final Thoughts
Selling a fixer-upper can be easy if you sell to the right buyer and follow the right steps. These are five must-know tips, and they can incredibly simplify your sales. Remember that selling to a cash buyer can be the easiest way out. However, ensure that you review all your options before making a decision.
