You bought a dream house and thus fulfilled your long-held dream? Congratulations! But the real fight is still ahead. The shortcomings of the house can be best noticed when you start living in it or the moment you pack to move out of it. You never dreamed of how much time, effort, and money it takes to maintain a house. When we talk about maintenance, we are not talking about aesthetic changes to the interior or a trendy change in the color of the facade, but only the maintenance of the house on the same level: to preserve the existing condition. From year to year the house is older, you more tired and debts just piling up. Every week a new hole in the wall or roof, new cows in the yard, and you feel helpless. You love that house, you have wonderful memories of it, or it is your childhood house that you inherited, but you feel like it is a bottomless hole: no matter how much money you invest, it is always the same, with the same flaws. Heavy rains and winds, harsh winters, nothing is in your favor.
And that’s it, you decide to sell the house. But who will buy a dilapidated house in 2021? We have great news for you! Even if the house is damaged, dilapidated, or under some dispute, there is a possibility that you could sell it. Every commodity has its buyer, and the buyers of such houses are people who are willing to take risks. Selling a house in poor condition depends mostly on you: how much you are willing to compromise on price, how much you are willing to invest money, and how much you are willing to wait. Most sellers despair if the property is not sold the same week. However, the website cashformichiganhouses.com reports that the rule is that the property should be on the sales channel for at least two weeks, especially if the seller does not want to lower the price.
If you find yourself in this situation, this little guide can help you sell a house that needs repairing as well as possible.
In the beginning, assess the condition of the house
To form the conditions of sale and place the house on the market, it is necessary to clearly and precisely define the condition of your house. Here we must not be biased, guided by memories and emotions, but objective and rational. Otherwise, you will have big problems with customer complaints. To help you assess, we offer a scale of three categories to assess the actual condition of your laundry:
1. Good condition
This is the most desirable condition for sale. The house is in good condition if there might be a problem, but it is not crucial for living in the house. Problems of this type are, for example, old or peeling facade; overgrown garden or driveway; the dirty interior of the house or old worn furniture; very old and outdated kitchen; bathroom old, possible problem with faucets; floors in poor condition.
As you have seen, a house in this condition means that it is possible to live safely in it, but that a little “make-up” is needed. So, the point is more in the visual than in the functional effect. You can learn minor alterations and aesthetic changes yourself without much investment. This is the cheapest choice that is guaranteed to have a positive impact on sales.
2. Fair condition
The house is in fair condition if it is clear that certain repairs are necessary, but someone can still live in it for a certain period. The fair condition can very easily go into poor condition, depending on the degree of failure that exists. This primarily refers to certain electrical problems; damage to the roof due to leaking rain; certain plumbing problems; parts of the wood are rotten; severely damaged floors; faucets and pipes damaged; bathroom or kitchen out of order due to damage, etc.
In this situation, the seller cannot do much. Most of these problems require a serious approach and investment. Professional help in these situations is necessary, and there is a high risk of complaints after the sale.
3. Poor condition or uninhabitable
The houses are sometimes in a pretty bad condition, but still habitable. These are unoccupied homes, that cannot meet basic human needs. These houses are considered unsafe to live in. The house is in this condition if there are serious problems and damage to the roof, electricity, water supply, and sewerage; if the foundation is significantly damaged; if there are insect bites; irreparable failures; if there are dangerous chemicals inside or near the house.
Whether your house is in good or bad condition, you again have a couple of options: not to invest in it, to invest some money anyway, or to leave the sale to experts.
Want to sell a house without involving a third party?
You want to have complete control over the whole process, you think that no one can know the house better than you? This kind of sale benefits both the buyer and the seller. Exempt from the commission you would pay to the agency and unnecessary expenses. Advertisements for the sale of houses sold by the owner personally contain the abbreviated FSBO (For Sale by Owner), which can be much more attractive to buyers. But if you decide on this type of sale, roll up your sleeves, there will be a lot of work. The more difficult the house needs to be repaired, the higher the investment and the time to sell it. The owners often enter this story full of enthusiasm, which is very noticeable when nobody doesn’t call in a few days. Selling is a process and patience is key here.
Still, another difficult task is to determine the price for your property. Price calculation apps can help you with this, or you can pay the agent only in that part. You need to be aware that all marketing costs are your responsibility.
Selling a home that needs repair doesn’t always have to be a tedious and arduous job. Even a house in its worst condition has its value. Maybe its value is not in the house itself, but it can be in the plot on which it is, its location, an orchard, etc. The condition of a house can often deceive the owner and sell it for much less than its worth. So give yourself time to make a detailed assessment, compare, and inquire. If the sale lasts beyond the limits, you can always sell it to real estate agencies.