Need help selling a house that needs repairs in Miramar? The median home value in Miramar is $277,500, but you can’t expect those sale proceeds for a fixer-upper. When a property need work your faced with a tough choice: sink your own cash or search for a buyer willing to buy the home “as-is” and pay for repairs themselves.
Most buyers are unable to buy a house “as-is” that requires renovations. “Ugly” properties typically don’t qualify for conventional financing – so a cash buyer is needed. Even for a person with cash, they need to have enough to cover buying and renovating, and need to the skill/expertise to manage a rehab.
How to Sell A House That Needs Repairs
Here are a some tips on how to handle selling your fixer-upper.
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- Honesty Is The Best Policy. Disclose to the buyer structural problems and necessary repairs (even if they are hidden!).Purchase and sale agreements require disclosure of knownproperty defects. The Florida Realtors and Florida Bar “As Is Residential Contract” states “Seller knows of no facts materially affecting the value of the Real Property which are not readily observable and which have not been disclosed to Buyer.” You can offer a free quote from a general contractor as to how much money is needed to renovate, and use that in negotiations.
- Help Find Local Contractors. If the potential buyer is not local, give the potential buyer a list of reputable handymen with contracts. Angie’s List keeps a directory of Miramar handymen. The more help you can provide, the easier the process, the more likely a buyer will follow-through and make a higher offer.
- Do What You Can. Although heavy renovations may be beyond your budget and skill – hiring a clean-up service is affordable and can increase sales value. The WhitePages provides a list of Miramar-based cleaning services. There is also a Home Depot in Miramar for brave souls willing to DIY repairs.
Unwilling Buyers: Refuse To Do Repairs
Some buyers – no matter what you try – will not buy a house that needs major repairs. You can try to offer other benefits, like a longer inspection period, smaller earnest deposit, or even selling on their time-frame. Unfortunately, where huge fix-ups arerequired, a large segment of home buyers will simply not be interested. That’s where real estate investors take their cue!
Best Way To Sell A House That Needs Work
Real estate investors aren’t afraid of buying “ugly” houses needing repairs. They have no intention of moving in, there is no mortgage qualification with a cash offer, and investors have the skill, experience, and financial resources to renovate. Investors also have their “own vision” for property use (perhaps as a rental, or a luxury single-family) and so you making paying for unwanted updates won’t increase their offer.
The other advantage of selling to a trustworthy and legitimate cash home buyer is that real estate investors don’t charge fees or realtor commissions. Selling to a real estate investor, verses listing on the MLS, saves 6% on the sale proceeds (although, consider flat-fee listing on the MLS). The investor is motivated to put in the money to fix the house up now, increase the property value , and either hold the asset or sell it for profit. Given their time in the real estate industry, investors have the “know how” to turn a lemon into lemonade. You can sell your house in Miramar to House Heroes for a fast, cash, “as-is” home sale.
The Objective of Your Miramar “As Is” Property Sale
The of objective of any house sale, even one that needs repairs, is usually to sell for fast for a fairfor you to have selling a house that needs repairs is to have a successful sale. If you solicit the help of a real estate investor, you will increase your chances of a successful sale every time. They have the capital to invest in your house and they can pay you cash, fast. It’s a true win-win situation for everyone.
We Buy Houses
Call Us (954) 676-1846 or Fill Out This Form For Your FAIR Offer.