Too Many Repairs? "Sell Your Home ... As-Is ... For a Fair Price ... on the Date of Your Choice" ... Fast !!!!

The benefits of selling your fixer-upper to a cash buyer

Selling your home can be headache-inducing. Advertisements, real estate commissions, and home inspections are all time-consuming and costly. If you’re attempting to sell a house that needs a lot of work, getting your home in showroom condition might not be worth it financially.

In preparation of selling your property, you must be able to answer this question: Will I receive more money once I fix up my house, or sell it as-is? If finances are lacking and major repairs are necessary, the question becomes how do you sell a house when you cannot afford to fix it?

Renovations and Frankenhouses with Too Many Repairs

Making your home attractive to potential homebuyers is necessary for a top-dollar sale. Cosmetic issues like wall color, replacing appliances, and chipped floors could be relatively inexpensive and might not hinder a sale. Yet, structural defects and more extensive upgrades might be expensive repairs that still must be made.

Sometimes, the most major repairs are only unsurfaced after a thorough home inspection.

"Every house has defects," Jack M. Guttentag, Professor of Finance at the University of Pennsylvania states. "Some obvious and some hidden."

When attempting to sell a house fast with repairs, you need to consider the hard-to-find repairs and what it might mean to a buyer. Most buyers aren’t willing to pay the desired asking price on the assumption that everything they can’t see is in peak condition.

In some cases, it may be easier to sell a house fast after completing repairs. But how do you make structural repairs and necessary upgrades without bleeding your wallet dry? Some sellers utilize contractors. Many contractors are equipped to handle minor damage and short renovations. Too many, though, have transformed beautiful homes into ugly Frankenhouses.

CNN Money’s staff writer Les Christie says Frankenhouses are homes that feature renovated eyesores. Some of these are "pipes running through living rooms and bedrooms strung together like garlic cloves".

They offer the buyer dysfunctional floor plans and finishes. They also offer awful color schemes and downright thoughtless room repurposing. They’re unappealing to the average homebuyer and, thus, stay on the market for longer periods of time.

Hiring contractors to complete needed renovations and upgrades to help sell a house that needs a lot of work comes with a steeper price tag. It also comes with a longer transition period between listing and closing. Best case scenario: your contractor does exceptional work within a guaranteed allotted timeframe.

Do you want to fix those major structural defects like replacing your roof, deck, or septic system? It may mean shelling out thousands of dollars before even listing your home.

Renovating your home with contractors before selling can also deter potential buyers. When confronting cosmetic and potential major repairs, homeowners are often faced with home-altering decisions.

A variety of these improvements can be highly stylized and require just the right individual tastes. These can differ among neighborhoods, regions, and time periods dependent on what’s in-style. A feature that you love could be the deal-breaker for a buyer.

Selling with a real estate agent As-Is

So how do you sell your fixer-upper? Making repairs may be necessary but the thought of hiring contractors and owning a Frankenhouse can be unsavory. Many homeowners decide that acquiring a real estate agent and selling their house without making repairs may be too risky as well.

Going the traditional route and using a real estate agent to sell a house fast needing too many repairs is tough enough; but selling a house that needs repairs, especially major ones, can be a daunting challenge for even some experienced real estate agents. As the 2016 housing market steadily grows, as projected by Jonathan Smoke, Chief Economist for Realtor.com, buyers have become more selective with a plethora of homes for sale.

Smoke predicts that six million homes will be sold this year alone, the highest amount of homes sold in a decade. With that kind of supply, sellers must expect more time on the market and fiercer competition.

When selling a house that needs repairs, real estate agents often suggest lowering your asking price to shorten your home’s time on market. In theory, this is great. The more time a house spends on the market, the more time a homeowner spends paying the home’s mortgage payments, utilities, taxes, and insurance.

However, some agents may be more concerned with selling and receiving their commission than selling your home at top price to the right buyer. Sometimes, using an agent to sell a home in as-is condition may mean giving up your home’s best chance to sell.

Using a Realtor can sometimes come with unexpected fees, commissions, and unwanted advice on how to manage your property. Yahoo! Finance’s Mandi Woodruff estimates that even after paying the buyer’s commission - generally 3% - For Sale By Owners (FSBOs) cut selling costs in half by avoiding their own broker’s commission. With a median household cost, cutting out a Realtor saves thousands!

A Stress-Free Solution

If you’re looking to complete repairs before selling your house, you may have to get heavily involved in managing a construction project instead of simply getting your home ready for sale. Want to hire a real estate agent and sell without making repairs? If so, you may fall into the trap of having a longer time on market if the sales price is not discounted enough to account for the needed repairs.

But if you desire a simple, stress-free solution to selling your house without completing any repairs or renovations at all, consider a cash buyer.

Considering a cash buyer might seem unorthodox, but it’s quite common in today’s market. 2012’s Investment Issue of Forbes Magazine says about 30 percent of homebuyers used 100 percent cash when purchasing. Some estimate that percentage even higher today.

Accepting a cash offer eliminates many struggles sellers often face when trying to sell a house fast needing too many repairs. Cash buyers typically can offer a much quicker closing date. This is due to their ability to skip the mortgage process completely. By avoiding selling your home to a buyer that has to obtain a typical bank loan, selling your home to a cash buyer means closing and receiving your money much quicker... sometimes within just a few days – as opposed to the typical 30 - 45 day time frame. This speed of sale means more money in your pocket sooner.

Cash buyers also provide more stability for sellers. So when you agree to sell your home to a cash buyer, you will not have any delays whatsoever with the financing.

Arguably the best advantage to accepting an offer from a cash buyer is their desire to buy your home in as-is condition. Homeowners needn’t worry about fixing major repairs, updating outdated finishes, or appealing to the average buyer. A cash buyer wants your home just the way it is, and is willing to pay fair market value for it.

So how do you sell a house fast when there are too many repairs? You can easily avoid costly renovations and contractors, skip the commissions and associated fees, and seek out a cash home buyer. They offer you more security and money without settling for less.

Get a Cash Offer Within 24 Hours

Lucky for you, ASale4You can get you a no-obligation cash offer for your house within 24 hours !!!

Our customers comment all the time about our soft approach. You won't get a hard sell with us. If you are not completely satisfied with the offer we make to buy your house, you don't have to accept it. No charge. No fees, and certainly no obligations at all.

We'd love to talk with you today about your house and your situation. We're here to help even if you decide not to sell your house.

Give us a call at 757-451-7040 or fill out the form below to get started. We look forward to speaking with you.

Sell a house fast even if it needs repairs