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HOW TO SELL A FIXER-UPPER HOUSE FAST!

🔹 Selling Your Fixer-Upper House Fast: your options explored

There are several reasons why you might be in a rush to sell a fixer-upper fast. It could be that it’s your own home, and unexpected circumstances (such as a new or lost job, financial emergency, etc.) require a fast sale, or perhaps required repairs have gotten out of control and you just don’t have the time, energy, or resources to fix it up.Whatever the circumstance, selling a fixer-upper isn’t usually as straightforward as selling a ‘move-in ready’ house — this is especially true if you haven’t any previous experience selling fixer-uppers.

For starters, you have to find the balance between spending too much on renovations and repairs, and upgrading the house enough so that it’s attractive enough to sell fast. Easier said than done, one small mistake or delay can mean big setbacks that cost you both time and money.   

You also have to know who your potential buyers are. Are you targeting investors, or individuals looking to do some work on a home to make it theirs? Each buyer profile requires a different approach for fixing up a house to sell fast.

In this blog post, we’ve put together some tips and tricks that’ll prove useful in helping you sell your fixer-upper fast. But if you’d like to skip the hassle and headache of repair work, give Unload My Home a call or drop us a line today.

We specialize in buying fixer uppers and houses in ‘as is’ condition. No repair work, clean up, or clearouts necessary. Best of all, we offer cash and can close in as little as 14-days or less in most cases.

Receiving an offer is always free, and there’s no obligation to proceed if we’re not a good fit. In fact, we’ll help you find a better fit if we’re not the right solution.

Enjoy…

🔹 1. Star with cleaning out your home

You’d be shocked at just how much a deep clean can give your fixer-upper a face-lift. Aside from improving your home’s aesthetics, deep cleaning and clearing out the clutter will also create a clean canvas, making it easier for potential buyers to picture what they would like to do with the new place.

Here’s a short checklist to use when deep cleaning your fixer upper for a quick sale:

🔸Start with the living area and rooms. Clean out all closets and open areas, declutter all counters and clear out all storage areas

🔸Sweep and mop all hard flooring surfaces. If you have carpets, vacuum them and have them professionally cleaned.

🔸Clean out the kitchen and scrub down all its surfaces

🔸Thoroughly wash the insides and outsides of your windows. This includes the windowsills, window tracks, and blinds.

🔸Scrub the bathroom and toilets till they shine

🔹 2. Handle minor repairs and upgrades

If you’d like to sell your fixer-upper fast, then you probably should look into making some slight renovations—nothing over the top, of course, just minor fixes here and there. Enough to make the house attractive and somewhat comfortable just in case the buyer would like to move in immediately.

Some of the minor upgrades you could pull include:

🔸 Replacing broken or outdated faucets, lighting, and cabinet and drawer pulls

🔸 Repainting the walls with a neutral color (you should consider patching damaged walls before repainting)

🔸Fixing any leaking roofs, water-damaged walls, and ceilings

🔸Replacing old switchplates and outlet covers

🔸Recaulking bathrooms and showers if needed

These upgrades aren’t set in stone; You get to choose how much you’re willing to renovate the house before selling. But remember, fixer-uppers with fewer defaults tend to sell faster.

 

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🔹3. Improve first impressions by boosting your curb appeal

You know how they say first impressions count for a lot? Well, your fixer-upper isn’t exempted from this rule. Inexpensive updates like cleaning out your yard, clearing out the weed, and even planting new flowers could go a long way in attracting more passers-by and, in the long run, potential buyers.

You could use this list as a guide when sprucing up your front lawn:

🔸Clear out the yard, porch, and driveway. Throw away all the junk you’re no longer using and organize whatever still needs to be there.

🔸Tend the lawn. Remove weeds. trim the grass, throw away the debris

🔸Sponge down the outside of the house

🔸Repaint the shutters, front doors, and exterior trim

🔹4. Clearly communicate any extra faults

When listing your home, it’s best you communicate any additional faults or challenges (especially involving structure and safety) from the get-go. Besides being the honorable thing to do, potential buyers would most likely conduct a professional inspection before buying it. If the inspection reveals a previously undisclosed fault, it could lead to a reduction in your asking price, and in some cases, the deal might even fall through.

To be safe, you should carry out a pre-listing inspection so you can have a comprehensive idea of what exactly you’re putting up for sale. A pre-inspection report could also create a more competitive environment for bidding since all parties involved understand what exactly is on the table.

Some major deal-breakers to watch out for include:

🔸Issues with the structure and foundation

🔸Mold

🔸Electrical issues

🔸Flawed HVAC system

🔸Faulty plumbing system

🔸Pest/insect infestation

🔸Defective or aged roof

🔸Water damage

 

🔹 5. Emphasize the property’s selling point

Most serious buyers looking for a fixer-upper home will look out for its floor plan and structural quality. So if your home has features like:

🔸An appealing layout

🔸Ample storage space (e.g., a walk-in closet)

🔸Great location and neighborhood amenities

🔸A private lot

🔸Or a high potential resale value

Then, you should be sure to highlight them in your listing description and point them out when showing potential buyers around the house.

It would be best if you further discussed emphasizing your home’s selling points with your real–estate agent.

 

🔹6. Get a real estate agent who is skilled at selling fixer-uppers

An experienced real estate agent is always a plus whether you’re selling a standard house or a fixer-upper. This is especially true when you’re trying to sell it off quickly. An agent skilled at selling fixer-uppers can help you:

🔸Set a realistic price that favors every party

🔸Link up with a network of investors and house-flippers interested in fixer-uppers

🔸Help you calculate how much your repairs would cost

🔸Help list your property so that its selling points are highlighted

🔹7. Be realistic in your asking price.

It goes without saying that a fixer-upper won’t go for the same price as traditional homes in your area would. But how do you settle on a price that’s fair to both you and the buyer?

🔸Start with neighborhood comps

comparing the prices of similar houses in your neighborhood is always a great place to start from. Looking at similar homes will give you an idea of what price you should be under.

🔸Calculate the after-repair value

The after-repair value (ARV) is the amount you can sell the property after it’s repaired and updated. This value is of utmost importance to investors as it gives them an idea of how much profit they’ll be making from the flip.

70% of ARV is the benchmark for most investors. With this value, they can be sure of a sizeable profit even after deducting commissions, capital gains taxes, and closing costs.

You should also note that renovation costs will differ depending on the market the property is to be sold in. Properties sold in high-end markets will generally have a higher renovation cost due to the level of fixing up they’ll need.

🔹8. Allow time for offers to come in.

Although this may seem a little counterintuitive, rather than jump on the first offer that comes your way, it’s actually best you wait a few days or even a week before responding to offers. This way, you’ll have enough offers to review and select the one that suits you best. 

Allowing time for different offers to come in will also help you avoid short-changing yourself by selling to the first bidder.

🔹9. Consider wholetailing

A principle that combines wholesaling and a full renovation, resulting in a middle ground that helps those with fixer uppers sell fast while increasing the value without spending a fortune.

The basic concept is to take care of any significant repairs or time-consuming updates before putting it on sale. This way, anyone looking to buy your home could apply for traditional financing since your home isn’t distressed. In a nutshell, even though the house isn’t in top dollar shape, it won’t be so bad that banks wouldn’t lend on it.

Going the wholetailing route increases your potential buyer base. Your property won’t attract investors alone but also individuals looking for fixer-uppers they can transform into their dream home.

🔹10. Give priority to cash buyers.

Giving priority to cash sales will do wonders for fast-tracking the sale of your fixer-upper. Where selling to a buyer getting a mortgage could take at least 40 days, a cash sale could close in as little as 14 days.

🔹The Bottom Line on How to Sell a Fixer Upper House Fast

Whatever your reasons for wanting to sell off your fixer-upper fast, cleaning out the property, setting a realistic price, getting a skilled real estate agent, and playing up your property’s selling points can definitely get it sold faster.

 

Remember that even though making some repairs will increase its chances, you don’t want to take on repair projects that will take too long or cost so much that you won’t be able to make a good profit from your home.

If you’re looking to save some money as well, you should consider bypassing the real estate agent and selling on a flat fee platform. This way, you’ll be able to cut down on transaction fees.

 

And lastly, it always helps to have an idea of how low you can go on your home. This way, the idea of quick cash won’t have you selling your home for way lower than it is worth.