A lot of people think that selling a house is easy as long as you spruce it up a bit and do some repairs. If you have been watching a lot of home makeover series on TV, then perhaps you might think that renovating a house is indeed easy.
But you need to take into account that not all people have the money for that. Some might even be selling their house because they need the money. Some might have already spent a fortune for installing a new vacuum priming system in their pipes.
So, how do you sell a house that needs lots of repairs without breaking the bank? It will not be easy, but it is not impossible. Here are some suggestions.
Find your target buyer
If your house needs a major renovation and you want to sell it, you need to look for someone who is willing to shell out the dough for the makeover. So, you need to focus your property advertisements to attract the right kind of buyers.
The first type of buyer you need to attract is the flipper. Do some research online and see if you can find real estate agents who are looking for cheap properties that they want to sell. Flippers are agents looking for cheap houses to sell, which is why they will not mind if your property looks like it needs a makeover. They will be the ones to take care of that.
You need to be careful negotiating with these people, however. They might drive the price so low that you will lose more money than gain a reasonable profit from selling your house.
Another kind of buyer that you need to look for is the remodeller. They are not worried about fixing up a house because it is exactly what they want so that they can renovate it to their liking.
But that does not mean you should present your home looking like a ramshackle. Remodellers want to rebuild houses to their specifications but they are not going to waste their time with properties that are in total disarray.
Fix it up a bit. Put a fresh layer of paint, trim the grass, clean the windows and doorknobs, and make sure that your ceilings are intact. Check your house to see where repairs are obviously needed while still staying within your budget.
The Deal Hunter
The last kind of buyer you should look for is the deal hunter. They are looking for a house in a prime location, but have not been able to find one that is vacant and for sale.
So, if your house is located in the city or just outside one, you might be able to attract a deal hunter who’s willing to buy your property even if it needs some major repairs.
Selling your house even if it needs major repairs is doable. As long as you target buyers who fit the categories above, then they are willing to spend money on repairing your house.