Selling a House that Needs Repairs: Major & Minor Work How to Guide
Whether you’re selling a house that needs repairs or requires major work, it’s important to understand that it’s very doable. You simply need to know your options and how to proceed. There are buyers out there who are interested in your property just the way it is.
Once you have a good idea of what your place is worth – considering its Southern California location, selling points, and condition – and know what options are out there, you’ll be well on your way to selling your house that needs repairs for a fair price.
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Can you sell a house that needs repairs?
The fact is that you can sell a house that needs repairs. When you think about selling a home, you likely imagine first getting it in tiptop shape and then having it staged before even thinking about scheduling open houses and viewings.
If your home is in need of repairs, however, this approach can be off-putting, and you may not have the time or the cash flow to invest in the process. Fortunately, you don’t have to. There are options other than the traditional route of using a real estate investor, and one of them may be the right choice for you.
What is the fastest way to sell a house that needs work?
Southern California is a hot real estate market, and a wide range of houses go up for sale and are sold every day. Those houses that are most desirable are the ones that are move-in ready, and homes that require minor repairs generally come further down the line. If your home needs a lot of work, however, your target audience will likely be much smaller.
There are buyers, nevertheless, who are interested in buying your house as-is, which speeds up the process and can save you both time and money. At SoCal Home Buyers, we are real estate investors who pay cash for Southern California properties like yours that are in need of home repairs, and we’re ready to make you a cash offer.
Tips for selling a house that needs repairs
The fact is that selling a house that needs repair does not have to be overwhelming. There are buyers out there who are interested in buying your home as-is, and there are also several tips that can make selling a home that needs work more far less challenging.
1. Have a home inspection
By scheduling a home inspection, you ensure that you know your home’s worth as it stands – before any repairs are made. A thorough inspection provides you with valuable information about any issues your home has, which you’re required to reveal in the selling process.
At SoCal Home Buyers, we send out our own in-house inspector and make cash offers for fixer-uppers like yours on the spot – eliminating the need for you to locate a reputable inspector and schedule the work on your own.
2. Know your audience
if you’re selling a house in poor condition, it’s important to know who your potential buyers are and their motivations. This list generally includes the following:
- House flippers buy low, put in the work to get the house on the market, and are invested in turning a tidy profit in the process. You can expect a lower selling price with house flippers.
- Deal hunters are generally people who are interested in living in your area but can’t afford the prices. These buyers are willing to tackle home repair projects in order to afford a home in their preferred location.
- Remodelers are buyers who are willing to make the renovations and repairs necessary to make a property their ideal home in their ideal location, and if your home fits the bill, a remodeler can be a decent option.
- Real estate investors like SoCal Home Buyers pay cash for houses in every condition, including those that are in need of major repairs. When you work with us, you can expect a speedy process that requires minimal effort on your part and that leaves you with cash in hand.
3. Price your place realistically
When you know what other houses that are in need of repairs are selling for in your area, you’ll have a better idea of what your home is worth, which can help you fix a more realistic price.
4. Highlight your homes selling points
Selling a house as is in California does not mean you have to accept less than it’s worth or that it does not have unique selling points that should be featured. Perhaps you just put in new carpet or recently invested in electrical work. Further, if your house needs significant work but is in a prime location, you may be surprised to learn by just how important location can be.
5. Focus on the repairs that give you more bang for your buck
If you have the time and resources to put into your home before moving forward with a traditional sale, focus on those repairs that matter most. This often means cosmetic work, such as applying a fresh coat of paint, replacing hinges and other accessories, updating the flooring, applying fresh caulk in the bathroom, removing old appliances, and prettying up the yard or doing anything else that improves your home’s curb appeal.
6. Set your sights on an as is sale
If you are facing an unexpected move and don’t have time to bother with fixes and upgrades in order to get your house ready for sale or if you simply can’t afford to invest in the necessary renovations right now, it’s important to know that you have other options. It’s possible to quickly sell a house that requires a lot of work when you sell to the right type of buyer.
7. Sell to the right buyer
You can sell your house without all the inconveniences and costs associated with real estate agents, and this is true even if your house needs a lot of work. At SoCal Home Buyers, we are cash buyers who employ our own home inspector and buy houses like yours outright – allowing you to save time and money in the process.
How to sell a house that needs major repairs
If you’re selling a home that needs repairs, listing the house and selling it on the market may not be the best approach. Buyers in Southern California have a vast array of homes to choose from, and traditional buyers want homes they can move into – or that don’t require major work prior to moving in.
If your home needs major repairs, such as if it has structural problems or requires repairs related to safety issues, you may want to consider selling to target buyers. This can save you time and expense in the long run, allowing you to move forward without the hassle that is typically associated with selling a home.
Where can I sell my house if it needs repairs?
You have options.
1. We buy houses companies
There are national companies that pay cash for houses as is through local franchises. While these companies are a reliable way to sell a home in virtually any condition, they employ a strict process that they won’t deviate from.
Additionally, these buyers tend to take longer than other cash buyers and they tend to pay considerably less. If this is the route you choose, getting several offers in order to compare prices is in your best interest.
2. iBuyers
iBuyers are online companies that buy houses virtually, which simplifies the process considerably. There are, however, pros and cons involved. While the process can be completed online and allows you to create a video that serves as a virtual walk-through, homeowners experience service fees and closing costs, and the process generally takes longer than working with a local real estate investor.
3. Online companies that connect home sellers with local buyers
There are also online companies that don’t actually buy homes but help sellers connect with local buyers. Finding the right buyer for a house that’s not in great repair, however, can be challenging, and the bidding process tends to be lengthy.
4. House flippers
House flippers are in the business of buying houses that are in need of repair. They are interested in getting homes market-ready as quickly as possible and walking away with a considerable profit.
House flippers put in the effort and shoulder the risk involved, including the possibility that the home will require more extensive repairs than originally thought, and they expect a hefty profit in return. As such, you can expect house flippers to offer less than many other cash buyers.
5. Deal Hunters
Southern California boasts many prime locations, but buyers can’t always afford their dream spots. Some buyers are willing to purchase a house that needs significant work in order to afford a home that’s located in a specific school district or that offers some other advantage.
Deal hunters are generally on tight budgets, however, which means they typically can only make offers that go so high. Selling to a deal hunter can also be a lengthier process that is more prone to falling through than selling to a well-established cash buyer would be.
6. Remodelers
Remodelers have a can-do spirit when it comes to home renovations and fall somewhere in the middle of house flippers and deal hunters. They are generally willing to either have the work done or to do it themselves in order to transform a property into their dream home.
Remodelers are often drawn to a home’s potential, a home’s location, or both, and they’re often willing to overlook issues that might be deal breakers for other buyers. Remodelers, however, are generally interested in driving a hard bargain and the sales process can be lengthy.
7. Local real estate investors
If you’re looking to sell your house fast in California or you need a budget-friendly option for selling your home without making a lot of repairs, a local real estate investor like SoCal Home Buyers is the way to go.
Once you contact us, we’ll schedule an inspection with our in-house professional, and when that’s completed, we’ll make you a cash offer then and there. If you have reached the point that you want to sell your home as-is, we buy homes that need repairs in Southern California and are very interested in yours.
How to sell a house that needs work on a smaller scale
The matter of how to sell an old house that needs work on a less grand scale is similar to selling a house that needs major repairs, but you may have additional options.
Sometimes, the matter of knowing what not to fix when selling a house is just as important as knowing what to fix. Getting the best price for your house that needs a moderate amount of work can make putting in the effort to pretty the place up worth the time and expense.
If giving your house a face lift and making minor repairs is something you can manage, it can be worth the effort. It’s important to remember, however, that even if you’re prepared to do the work, you’ll still face all the following inconveniences and costs that come with putting a house on the market:
- Staging your home for viewings and open houses
- Scheduling open houses and viewings and getting out of your house while they’re happening
- Keeping your property on the market until it sells
- Negotiating a sale price that is as close as possible to your asking price, which can involve making additional repairs
- Paying the fees, closing costs, and commission associated with selling through a realtor
If it’s simply time to sell your home or you prefer to bypass the expense and hassle of making repairs, working with a local real estate investor who makes cash offers on the spot can be extremely beneficial.
How to price a house that needs work
When it comes to putting a fair price on a house that needs work, it’s important to know what comparable homes are bringing in your area. From here, you should deduct the cost of all required repairs, and you’ll be left with an excellent starting point for pricing your home.
By factoring in the cost of needed repairs into your pricing, it puts you in a far better position to negotiate a price that reflects your home’s actual value. Without this information, you can lose sight of your bargaining power, which may cost you in the end.
Our Key takeaways on how to sell a house that needs repairs
If you have a house that needs repairs, the traditional method of selling on the market may not be the best approach for you. The fact is that you can sell your house as is for cash in a streamlined process that allows you to smoothly move forward toward your next chapter in life. Additional benefits include all the following:
- You can skip the cost, time-consuming process, and inconvenience associated with listing your home.
- There is no need to make repairs or to spruce up your home for showings or open houses.
- You can sell directly to buyers who are interested in real estate investments and have the resources pay cash upfront.
If you have the time and money to get your house ready for market, it can increase your return on your investment, but you can expect the process to require considerably more effort. Further, once you begin the repairs process, it can uncover new issues that will also need to be addressed.
And having home repairs made is not only costly but is also time consuming and can only proceed in accordance with your contractor’s schedule. In other words, selling a house that needs repairs through traditional channels can be a far bigger challenge than you may have bargained for.
Selling to a real estate investor eliminates these obstacles by employing a simplified and speedy process that ends with a cash offer.
SoCal Home Buyers: the best way to sell a house that needs work!
The best way to sell a house that needs work is with SoCal Home Buyers who work solely in Southern California. We know your unique market well, and we have the resources and expertise to offer a fair cash price that makes the sale worth your while.
Selling a house that needs work doesn’t have to be a burden – SoCal Home Buyers makes the process as painless as possible, and you’ll walk away with the cash you need to take your next steps forward.
To make things that much easier, the following four simple steps are all that’s involved:
- Give us a call at 951-331-3844—or fill out the short form below—to request your fair cash offer.
- Await our prompt response to discuss your property in greater detail and schedule a one-time inspection that allows us to offer the highest amount possible.
- At the time of the inspection, our in-house inspector will quote you a fair cash offer, and if you’re on board, you can consider your home sold!
- Choose your closing date, and leave the rest to us. You can choose payment via check or wire transfer. It simply doesn’t get any easier.
