Can I Sell My House Without Fixing It Up? Here’s What to Do
For many homeowners in Colorado, one barrier that prevents them from selling their house is that they don’t feel it’s quite up to standards for selling. Perhaps you feel as though your property needs to be in tip-top condition before putting it up for sale, or you just don’t have time before you need to sell. This prompts the question can I sell my house without fixing it up?
In this article, we’re going to go over that question and allay any fears you may have regarding selling your home if it needs fixing up.
Let’s start with a quick summary, then we’ll get into more details.
Selling your home as-is negates the need to spend time or money on repairs. A buyer may still require an inspection but will need to accept any flaws proper to purchase. For a fast sale choose an agent that offers a cash purchase and quick turnaround times before repairs become larger issues.
Certainly, in places like Colorado Springs, Denver, and Fort Collins, there are numerous reasons why you may not be able to make major – or even minor repairs on a property, and yet still wish to sell it:
- Lacking the funds to carry out repairs, maintenance, or upgrades
- Require a quick sale due to imminent foreclosure
- Have lost motivation in the face of serious or mounting repairs
- Lack the skills or ability, or mobility required to make the necessary repairs
For many, it’s the sheer lack of available funds to carry out the work, or the need to avoid foreclosure that requires them to make a quick sale as a priority of the work to be carried out.
The good news is that you don’t have to fix up your entire property to sell it, but you do have the option to address the parts that matter.
If you are able to carry out repairs, then here are a few things to consider…
Things to keep in mind when fixing up a house to sell
- Check the market in your area, particularly areas like Colorado Springs, Denver, and Fort Collins to gauge the likelihood of being able to sell a property requiring work.
- Lower your expectations: after all, accept that you may need to accept a lower price.
- Even if you don’t want to repair the entire house, investing in a few key areas can make a big improvement when it comes to maintaining the price of your property.
- Only make repairs that matter. Spending capital and investing in areas of the property that are damaged but we’re unlikely to be repaired or complained about by the next owner could be a waste of time and money.
If you’re still unsure, then take the direct route and ask us for advice. We can perform an evaluation and guide you through what to expect.
Gauge the real estate market
Whether or not your property sells – and the price it eventually sells at, are all dependent on the real estate market where you reside.
Areas with higher demands like Fort Collins and Colorado Springs, and particularly Denver will command higher prices for your house.
However, it is important to note that if you’re selling a house without fixing it up first, then the price will naturally be lower than an equivalent property requiring no additional work.
Choose the right real estate agent
Having knowledge of the market you are selling in is imperative to getting the best possible price for your property.
If you are looking to sell a property that may need some repairs, then choose an appropriate real estate agent that regularly deals with these types of property. Particularly where you can see a track record of where the agent has assisted people previously.
Agents that deal with properties requiring repair, already carry a competitive advantage in the market and understand how to market properties that may fall short of perfect.
The chances of a return on Investment
In most cases, a return of investment in your home is guaranteed; however, this is only possible if you invest in the correct areas of the house.
Improving the kitchen, repairing windows, and replacing lights are all investments that help to increase the price of your house.
But repairs left undone may also decrease property value if left unattended. So it’s better to sell your property earlier, rather than wait for any repair requirements to devalue the house further.
Opt for a real estate agent who provides a simple process. An agent who can provide you with a free and quick analysis and a cash offer. This helps to avoid closing costs, agent fees, and any commissions. Plus there are no hidden costs with a cash purchase.
“… it’s better to sell your property earlier, rather than wait for any repair requirements to devalue the house further”.
Get in touch with our team today by clicking the button below, and learn how you can turn your mortgage-free home into a financial success story!
Selling a house without repairing first
Frankly, some properties just aren’t worth going through the hassle of fixing.
For example, a property inherited from your aunt, that is now in need of costly repairs is probably not worth your money spent on fixing it.
A home that has cracks in the walls or serious damage from accidents like fires or floods is not easy to fix and can cost quite a lot of time and money – that perhaps you just don’t have.
In such a case, it’s better to simply cut your losses and opt for a quick sale through an appropriately experienced agent.
It’s also fair to say that most buyers looking to purchase a house usually want to buy one in good condition, with perhaps only minor repairs required.
Do people buy houses needing repairs?
Indeed, some homebuyers may not mind buying a house that is a bit run down.
However, this largely depends on the definition of “run down”. Often it’s referring to more superficial requirements such as a fresh coat of paint or a creaky floorboard.
If the house is in poor shape, most won’t be looking to purchase it. If it requires only a few minor repairs here and there, people will be more than willing to buy it. It’s all about what people are willing to accept as a “repair”
Ultimately, most home buyers will want to take time to consider any repairs required. Whereas often, you just want to get a quick and fair sale for the property. Therefore, it may benefit you to take any repair discussions out of the equation and opt for a cash purchase.
And if you’re struggling to sell the property due to the work required, then you’re in danger of falling prey to an unscrupulous “contractor” who wants to offer a knock-down price for your property.
Considering minor repairs
Sometimes home buyers will buy a house that only requires minor repairs – that they can probably carry out themselves. Simple jobs in which they do not need to engage contractors.
But if the house requires repairs beyond simple tasks, then the process suddenly becomes an extended game of contractor estimates and quotes. Time then drags on further, and invariably you receive a lower offer – by which time you’re about ready to accept purely through despair of the process.
Minor inconveniences are often acceptable to most home buyers. Tasks such as:
- New carpeting
- Painting walls
- Repairing a creaky floorboard
- Fixing a leaking pipe or two
However, if a buyer discovers new windows are required, the roof needs repairing, and the doors need replacing, or some water damage, then they’re likely to walk away …or worse, try to negotiate a much lower offer.
As a result, you lose time, effort, receive a ridiculously lower offer, become demoralized, and are ultimately no closer to a quick sale.
Use a local real estate agent
By contacting a local specialist quick sale agent that purchases homes in your area, you can quickly establish what the value of your property will be. They can offer comparisons to similar local properties sold in the area.
Carrying out a quick cost vs benefits analysis might mean it’s simply unfeasible to repair the property, or makes little difference to the final value. Or perhaps there isn’t time before the property needs to be sold.
Repairs made in areas like kitchens and bathrooms maintain home value when it comes to returns on investments, But that’s only if you have the time, budget, and motivation to carry them out.
Choose an agent that meets the right criteria
When looking for a quick sale, or one where repairs and other issues matter less, ensure you choose an agent that meets the right criteria. Choose an agent that:
- Is local and understands local property values
- Has expertise and experience in quick home sales, and understands the timings
- Cares about the community and their responsibilities to that area
- Who has your interests at heart to achieve the maximum gain for you
- Are non-judgmental in reasons for a sale
More real estate help…
Leading Home Buyer is a local company based in Colorado. We’re committed to helping people looking to sell their homes …but can’t because of the time home sales often take. We’re a company that does not let repairs or damage stand in the way of achieving your goals.
Need a quick free quote, without obligation? We’d be happy to help. Give us a call today and we’ll do our very best for you.