Has your house been listed for too long yet no one seems to be interested? Do you feel like you could use some help selling it?
Selling a house in poor condition can prove to be a lifesaver. It could help you clear that loan you have or even top up your retirement savings. If you own of a poorly maintained house and need to sell it for quick money, you could end up accepting less than you should get in an ideal situation.
What should you do to get a good deal? Let us look at a few tips in details.
1. Why Are You Selling?
It is important to be clear-minded on why you are selling the house. Whether it is an inheritance, or simply just a sale of a house or one with a degree of sentimental value, self-evaluation to figure out the reason for the sale is necessary. Most buyers will ask you this question and you need to give a good answer.
When selling a house in poor condition, you need to keep a poker face when negotiating its sale. The moment a buyer senses eagerness to sell the deal might fall through.
2. Price the House Right
To inform the asking price, you can do an online search of nearby homes already listed for sale. You can, afterwards, narrow down the results to your zip code, and subsequently price in relation to the market price.
Typically, your asking price will be minus the approximate amount it would cost the buyers to make their own basic changes.
3. Make Small Updates to the House
When it comes to how to sell a house that needs work, focus on the small things. Clean up the house of clutter, mow the lawn, and plant flowers. Talk to the clients about the great features of the house. These could include closet size, the master suite, a fireplace, storage, big windows for natural light, friendly neighbors, and good security.
Buyers can change stylistic details. However, if they love the house for what it is, they are more likely to buy.
4. Who Is Your Target Buyer?
When selling a house that needs repairs, be sure to weigh the objectives of the buyer. Know your buyer.
There are flippers. Their focus is to make a profit. They buy at a low price, renovate, and sell at a higher price.
There are niche buyers. They want to live in a specific location, or neighborhood, but cannot afford the average list prices in those areas.
There are also remodelers. They have the money but are not able to land a home in the area they want with the features they want. Therefore, they buy and remodel the house to fit their needs.
Are You Selling a House in Poor Condition in South Florida?
Selling a house can be nerve-racking. It is even worse when the house has been unoccupied and run down. The good news is that every house has a selling point, and selling a house in poor condition is possible. But the selling point could be the location, the pool, spacious kitchen, or the lounge. Make that the focus of your conversation with potential buyers.
Check out our website for more information on houses in South Florida.
- Click HERE for a good guide on how to calculate your home equity