There are many reasons that a house could fall into disrepair and class as a “fixer-upper”. Bad tenants, aging appliances, and an owner who doesn’t want to put work in can all be reasons for homes being in poor condition. Selling a house that needs work is still possible, though you won’t get top dollar for it. Our guide covers how to sell a fixer-upper house in a variety of ways.
What to Do Before Selling a House That Needs Repair
Before you sell a fixer-upper house, there are a few things anyone can do to try and make sure that the house is more appealing. Even if you are staying away from the traditional real estate market, you should make sure you do the following:
- Ensure that the house is safe. If there are hazards within the home it will likely be your responsibility to fix them.
- Clean up. A dirty house can lead to all sorts of problems and hazards including pests.
- Get rid of old furniture. If there are things you know aren’t going to be needed, get rid of them.
- Perform basic landscaping. Yards can get very overgrown and cause a home to look in much worse condition than it actually is.
- Highlight the positive things in the house. If it is large, make sure you don’t clutter it up, so it looks large to potential buyers. Original features like fireplaces can also be cleaned up to look impressive.
Depending on the scenario, you might have to do some specific maintenance before selling a fixer upper house. If you plan selling a fire damaged house, for instance, you need to ensure it is safe, and you might want to do something about the smell. Flood damage brings similar issues. A lot of people who are looking into how to sell a fixer upper home don’t want to do too much maintenance on it. This is totally fair enough. Instead, you can look at other options for a quick sale.
How to Sell a Fixer-Upper House (and Who to Sell To)
Realtors
You can go the traditional route and get the help of a realtor.
Pros:
- The maximum number of people will probably see your home. This means more potential buyers.
- Realtors can give you advice on how to sell.
Cons:
- The realtor will come with fees.
Property Investors/Remodelers
There are a lot of companies that are specifically looking to invest in property, and fixer-uppers. If you are selling a house that needs work, this can be one of the quickest methods. People who inherit homes often find that they want to get rid of the home, or even need to in order to divide up assets. Property investors can be a good solution.
Pros:
- Often you can get a quick and simple cash offer.
- No need to make many improvements to the home, investors can help.
Cons:
- You might not get the full value of the property.
Flippers
Many individuals with the tools and skillset can take on “fixer upper” homes and turn them into more saleable assets. This is how they make a profit, so it is a job for some people. They buy a house cheaply, fix it up and then sell it for more money, this is called “flipping”. If you need to sell up and you aren’t too worried about getting top dollar then this can be an option.
Pros:
- You can often get a quick sale.
- Flippers are happy to buy a house in disrepair as it can mean more profit.
Cons:
- Flippers will always drive for the lowest possible price.
- They don’t always have the funds behind them to buy quickly.
By Yourself
Selling by yourself is possible if you know where to advertise the home. Some online marketplaces will let you list the home without the help of a realtor. It is possible to play realtor yourself in the modern age, but there are some pitfalls.
Pros:
- Fewer fees to pay.
Cons:
- Hard to create a professional listing.
- A lot of admin to deal with. (Arranging viewings etc.)
- It’s easier to get scammed.
Conclusion
Selling a fixer upper can be a confusing prospect. You will first want to decide whether to carry out the work yourself, or whether you want to get rid of the home and raise the money. If you’re in a hurry to raise the cash, the choice might even be taken out of your hands. Once you’ve decided to sell, knowing how to sell is another difficult decision. We hope our guide has been a helpful look at the options, and it is likely that you will see one of these choices and be drawn to it as a solution to sell the house and free up some finances for the next step in your life.
