5 Key Tips for Selling a Fixer Upper Home
Want to know how to sell a fixer upper?
Selling a home is never easy, but selling a fixer upper home can be even more challenging.
Even though you know that your house needs work, it’s difficult to get potential buyers in the door and excited about making an offer. This is especially true if you’re trying to sell during the busy summer season when most people are out of town or not looking for a new place to live.
But don’t worry. Keep reading to see 5 key tips that will help you find motivated buyers who are ready and willing to make an offer on your house right now! If you follow these steps, we guarantee that your house will sell much faster than expected!
1. Establish a Realistic Price.
When you’re selling a fixer upper, it’s important to be realistic about the price you’re setting. Don’t expect to get the same price as a home that doesn’t need any repairs. However, by pricing your home appropriately, you’ll attract buyers who are interested in fixing up a home themselves.
2. Make Sure the Repairs Are Cosmetic.
If you’re only making cosmetic repairs, make sure they’re done well. Buyers will be looking at your home with a critical eye, so if there are any obvious flaws, they’ll be sure to notice them. Make sure all of your repairs are up to par before putting your home on the market.
3. Be Upfront With Your Buyer About the Repairs That Need to Be Made.
Some buyers may be worried about having a home in a desirable neighborhood but one that needs extensive repairs. If you’re selling a fixer upper, make sure you include all of the information in your listing.
Explain why there are things that need fixing and what is going to be done to remedy the problems. The more transparent you are, the less risk there will be for your buyer – and they’ll likely feel much more comfortable making an offer on your home if they know exactly what needs to be fixed up or repaired before moving in.
You may get lucky and have several offers on your home or it may sit on the market untouched or even be rejected by potential buyers because there isn’t enough interest in buying this type of home at that price. If you do find an interested buyer, you’ll have to be prepared for negotiation.
If the buyer wants significant repairs before closing on your home, see if there is a way that you can make those changes happen without losing money.
Properly pricing your fixer upper home is key when selling it. According to “Forbes”, overpricing will result in few buyers looking at the home due to its unattractive price tag, whereas under-pricing may scare away potential purchasers who fear they are not getting a good deal or cannot afford to make needed repairs.
Other things to keep in mind when pricing your home include neighborhood comparisons and renovations you plan on doing after the sale of the house has closed escrow, which may attract higher offers from intrigued buyers.
The most important factor of selling a fixer upper is how well the repairs are done. If they are not properly done, it will be very noticeable to potential buyers and could result in the sale getting canceled. Cosmetics are key when it comes to these types of homes.
4. Make Sure Everything Works Properly (Or Let Them Know It Won’t).
Before putting your home on the market, make sure all the appliances work properly and that there are no serious issues with any of them. You should also take care of any visible repairs to the exterior, especially if they’re major issues that buyers may be concerned about.
If there are known problems with the home that you can’t or don’t want to fix, make sure to disclose them to your buyer. This way, they won’t be caught off guard when they move in and they’ll know what they’re getting into.
5. Don’t Do Any Major Renovations Before Selling.
While it may be tempting to renovate your home before putting it on the market, this could backfire. If you do too much, you may end up overspending and not making back as much money as you put in.
Plus, potential buyers may be less interested in a home that’s been completely renovated – they may prefer one that still has some room for them to add their own personal touch. Stick to simple repairs and cosmetic changes before putting your home on the market. These tips will help you sell your fixer upper quickly and easily.
It can take time to find the right buyer for your home. If you’re selling a fixer upper, this process could be even longer than usual so just keep at it until you find someone who wants to buy your home as-is rather than doing extensive renovations themselves. Selling a fixer upper is possible – so long as you price it accordingly and maintain realistic expectations!
Also don’t forget that there are some companies that buy houses for cash no matter what the condition the house is in.
Want More Help Selling a Fixer Upper Home?
It’s not easy to sell a fixer upper home, but if you follow these 5 fixer upper selling tips it’ll be easier than ever before. We hope this article has helped clear up some of the confusion around selling a house that needs work and we encourage you to reach out with any questions or concerns!
Also, don’t forget to check out our blog for more selling tips for fixer uppers, and how to sell a damaged home.