You’ve just inherited an old house in a distant location and want to put it on the market. You don’t have the time, resources or energy to make it perfect and just want a quick sale.
Or maybe you had renters who did substantial damage and you don’t have the money to make necessary renovations.
Just because it needs work doesn’t mean you can’t sell it. Many buyers today are looking for deals and may see potential in your home.
So what to do? Here are a few tips when on the market:
- Leave brochures for new cabinets in the kitchen, color palette around the bedrooms.
- Create computerized images of what updates might look like.
- Secure bids from licensed contractors on necessary fixes and provide them to potential buyers. People may mentally overestimate the cost of a new roof, shower stall, drywall repair or fresh paint. Providing sample estimates will bring the home into clearer perspective.
- Work with your real estate agent to make the home as presentable as possible for the least amount of money.
- Nothing is going to attract people more than a lowered price. You will need to discount to gain an advantage over comparables in better condition.
A down-and-out house doesn’t mean you’re stuck. With small repairs, research and practical pricing, you can turn that “Ugly Betty” into a sale.