You have already made up your mind to sell your house in LA, but after looking around, you realize that your home needs serious attention in terms of interior and exterior repairs. It might mean that some materials are dry rot, while others need improvements since they are outdated.
Immediately, this observation puts you in disarray.
Should you spend money and time fixing the house or try selling it “As Is”?
This is one of the lingering questions where the answer depends on some factors to consider, which include:
- The likelihood of your return on investment
- The condition of the market — meaning that the market can either be cold, hot, or neutral
In most cases, sellers invest much money in repairing their homes before selling. They’ll fix faults that buyers themselves would not pay for, let alone notice them.
If you know that your house needs a significant overhaul and cannot be economically fixed, you may want to sell it “As-Is”. However, you will have to lower the price to attract various offers since most fixed price buyers only need simple repairs such as replacing light fixtures or painting the walls instead of rebuilding the foundations or moving the walls.
Are you worried because you want to sell your house in LA quickly, but you don’t have enough cash to make the repairs which guarantee a faster sale?
You don’t have to worry because we’ve prepared expert advice to help you navigate through the dilemma, and procure a deal ASAP.
4 Expert Tips for Selling a House in LA That Needs Repair
If you live in Los Angeles and you need to sell your home that needs repairs as fast as possible, try out these expert tips discussed below.
Seek Real Estate Investors’ Advice
Sell your house hassle-free by consulting real estate investors to buy your damaged house. Real estate investors know how to fix the house affordably as well as the right contractors for the job.
Additionally, they have experience dealing with repairs, and they can get you cash for homes faster than any other option.
If you don’t want to list your home for months without securing a single offer, consider the services of real estate investors like SoCal Home Buyers.
Compare the Home with Your Neighborhood
An intelligent home seller weighs the cost of proposed improvements against the home market value after the fix is complete. Since an upgrade might not return your investment, the repairs might not be warranted. Therefore, you need to compare homes in your neighborhood and consider which areas are the most upgraded.
If the majority have an updated bathroom, then you can prioritize on bathroom remodeling. The main aim is to stay ahead of your competitors while minimizing your financial investment.
Be Honest with Buyers
Beware of every defective, worn-out, or broken item in your home. Inform the buyers before they tour the home. If you stay tight-lipped, your buyer will wonder what else is neglected and malfunctioning waiting for them to discover. This might be a turn-off and they might opt to check another property instead.
In the past, deceptive practices were common in the sales profession. Salespeople used misleading practices to coerce buyers into buying their property. Fast forward, customers have as much information as the salesperson nowdays. Being dishonest can lead to losing that buyer.
Consider Cosmetic Touches
Even if you no longer live in this home, remember that a well-furnished home is more attractive than a dilapidated one.
Therefore, apply the minimum home improvements to at least give a facelift to your home before selling, by:
- Repainting dark and marred walls using neutral paints.
- Replacing stained carpet.
- Doing some basic landscaping in the front yard to make the home inviting.
Understanding the Market Effect
If you’re in a hot real estate market like Los Angeles, it is a sellers haven, and as such, you can get away with minimal home improvements. However, the reality is that you need to understand that a home that requires repairs will almost always fetch lower prices despite the market.
Prospective home buyers generally will not bother looking at a home that needs significant repairs. That’s why services from real estate investors can be invaluable in helping you sell the house quickly.
Our team members have over 50 years of real estate experience, we have first-hand knowledge and experience helping home owners sell houses that need repairs in LA.
We guarantee you professional advice that will ensure your home sells fast. You can avoid the hassle of waiting from listing your home due to repairs, by requesting a cash offer from us today.