Can I Sell A House that Needs Repairs?
Jan 01, 2020 | Hometown Development
It’s a tough situation: you need to sell your house, but it’s not in good shape. Maybe you haven’t been able to keep up on repairs since you’ve gotten older, or maybe you simply don’t have the money to fix the problems that have been cropping up. But you know that no one wants to buy a new home with problems… right? If you’ve been asking “Can I sell a house that needs repairs?” here are your options.
Repair the Home
If your home needs repairs and you want to sell your home in the traditional way, through a realtor, you may choose to make those repairs. Depending on the cost and extent of the repairs, you may be able to do this yourself or have to hire a contractor. Replacing an old water heater or countertops might not be too big of a repair to have done yourself before a sale, but replacing the whole roof might be another story.
While traditional sale of your home might result in the greatest price for your home, doing the necessary repairs can have some downsides. If the repairs are extensive, you may be out a lot of money, which you may or may not recoup in the sale. Also, these repairs can take a lot of time, which you may not have to wait.
Sell the House As-Is
Selling a home as-is is exactly what it sounds like: you sell the home in the condition it’s in, regardless of any issues or repairs needed. While you might not get the same price you would if your house was in perfect condition, you don’t have to worry about the expense and time of making repairs yourself. If you need to get out of your house ASAP, for instance, in a foreclosure or divorce, you may not have the time or funds to complete a repair.
Selling as-is means that the buyer accepts whatever issues the home has and will pay for the repairs themselves. If this buyer is a real estate investor or house flipper, they likely have the resources to complete these repairs for less than it would cost an average homeowner, meaning that they might even pay more for your house than you would have gotten in a traditional sale, after you subtract your expenses for the repairs.
Plus, selling as-is expedites the sale process. Since the buyer is accepting that there are issues with the house, there aren’t the same kinds of inspections and evaluations that happen with a traditional sale. Additionally, these buyers are motivated to close sales quickly, so that they can flip the house and start making money themselves.
Hometown Development purchases properties in any condition. It doesn’t matter what repairs your home needs if you’re looking to move on, we can help you. Contact us today online, or by phone at 616-379-3090, for more information about your cash offer.