Many potential sellers ask themselves, “Should I renovate my home, or try to sell it as-is?” Selling a house that need some repairs in Palm Beach has its challenges, but there are things you can do to sell that fixer-upper. Follow these 4 tips on how to sell a house that needs repairs in Palm Beach.
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Sell As-Is to a Local Real Estate Investor
Palm Beach investors are always scouting for a deal. As-is houses tend to draw in investors, contractors and first-time buyers who don’t have a hefty budget to buy a home with renovations. Remember that list of must-haves you made? The longer the list of repairs you need, the longer the list of investment buyers willing to buy your home will be. Especially if those repairs include roofs or foundations that are in bad condition. Some buyers prefer not to sell to investors, but in some cases, it’s the best choice. Sell your Palm Beach fixer-upper to someone who will bring it back to life.
Weigh The Cost of Improvements
How much can you get out of your home if you don’t make a single improvement? This is one of the first questions you want to ask yourself before calling a handyman. Find out how much your house is worth if you sell it in poor condition. There are many online tools you can use to find the value of your Palm Beach house weighed against comparable homes in the neighborhood. If you hire a professional appraiser, be upfront about the fact that you may sell the home as-is in order to set an appropriate price. You must then decide if you are happy with the selling price of a home with property damage, or if you want or are able to pay for house rehab, manage contractors, and risk getting a net loss trying do renovate a fixer-upper without experience doing so.
In the article “Should I Fix Up My Home or Try to Sell As Is?” The Balance pointed out that where a house “appeared inhabitable. It had holes in the walls all the way to the exterior and urine-soaked wood floors; most of the electrical didn’t work and the bathroom tub had fallen through the joists” the reality was “only contracts and flippers made offers on this home.”
Make a List of Must-Haves
Notice that I said some repairs. Not all renovations lead to a profit. If you decided it’s vital that you make improvements, then you must next consider what needs to be done. If possible, tour homes in Palm Beach. Notice their condition and upgrades weighed against the condition of your home. For example, if most of the homes in the neighborhood have done renovations to their bathroom, you should look at making minor updates to yours. Keep in mind that some repairs will have a higher return than others, so focus on those. When feasible, keep them to small projects or leave the repairs to a home buyer capable of funding and making large scale repairs don’t require a handyman. Managing large handyman jobs rarely pays off. Note, this won’t involve remodeling of your home, just small changes to get it noticed.
Keep it Neat
If you want to sell a home in bad condition, make sure it isn’t an eye sore. You may wonder what the point of keeping a clean home is if there is 60’s wallpaper in every room or all the faucets leak. Order and cleanliness can make a world of difference to potential Palm Beach buyers. Keeping a tidy home will ready you for a viewing with just a moments notice. The more people you can get in to view your home, the better. Taking the time to mow the yard and tucking all items away also shows that the house was cared for, and isn’t just being sold due to negligence or lack of pride in your home.
We Buy Probate Houses!
Call Us (954) 676-1846 or Fill Out This Form For Your FAIR Offer.