Do you need help selling a house that needs repairs in Salt Lake City? When you have a house that needs to have repairs done, it can be difficult to figure out whether to put some money into the repairs yourself or try to find a buyer who will do the repairs themselves. We will buy your house that needs repairs if that decision turns out to be best for you. Here is a link to a list of repairs you DO NOT have to do if you sell your house to Gary Buys Houses.
It kind of boils down to deciding if you want to spend the money and take the time to do the repairs AND MAKE MORE from the sale of your house, or if you rather make less and just be done with it. You can also sell As-Is to a house buyer or get a little more listing the house on the MLS. Listing in the MLS just takes more time. Here are some suggestions if you want to do a FSBO or list the the house.
How to Present it to a Buyer
If you are thinking of selling a house that needs repairs, here are a few tips on how to do that:
- Be honest with the potential buyer about what needs fixing and offer them a free estimate that you have researched on what it will cost. Then show them how you have subtracted this amount off of the asking price. Expect to also have to give up some money because of the time it will take the new owner to do the repairs. More if the house is not livable.
- Give the potential buyer a list of carpenters and other specialists and contractors that you have dealt with and show the buyer how to contact them. This way, the buyer will be happy you made the process easier for them to make contacts and get started with the repairs after they purchase the house.
- Discuss whether the repairs are important for the value of the house in the current market. Buyers want to know that the house they are considering purchasing is going to be worth what they pay or more in the future. If they think the value will go down due to the repairs, they may want you to come down on the sale price. Buyers will always want a discount for the time it will take to get the house up to repaired value.
When Buyers Won’t Buy Due to Repairs Needed
There are times when you’ll find buyers who simply won’t purchase your house if it is in need of repairs. When you come across these types of people, you will need to make a deal with them that usually involves throwing in extra things such as furniture or other perks, as well as lowering the amount of your selling price. Houses that have significant repairs may be hard to sell because they represent so much added cost and time to the buyer. Some buyers just won’t buy a house that needs repairs. That is OK; you can’t have a house that EVERY buyer wants.
A Great Alternative: Get a Real Estate Investor
The great thing about a real estate investor is that they don’t care if there are repairs that need to be made to a house. Unlike a buyer, they are not going to live in the house and they don’t have to worry about how much it will cost to fix up. Most of the time, there is no financing involved, therefore no home inspection will be needed. We can typically meet once and give people an offer and close in 2 days if title is clear. IF title is not clear, we do all of the work to clear up any issues. You can also SELL NOW and Stay as long as you need to in the house.
Investors have the money to pay for repairs and they know that, once they make the repairs, they can resell the house for a profit. Real estate investors, unlike real estate agents, don’t get a cut or commission of the sale. It is not a career for them. It is a business decision. They are usually quite familiar with the real estate industry and they know how to turn a profit from their purchases. Simply, you can do the repairs and make the profit, or you can just sell quickly.
When you are selling a house that needs repairs in Salt Lake City, you need a friend on your side like a real estate investor who understands how to make the most of your property. A real estate agent can help you too if you want to list on the MLS. A Professional Houses Buyer knows that every house will require some repairs and they are willing to put in money on your house in order to make a bigger profit down the road.
Selling a House that Needs Repairs in Salt Lake City
The goal of selling a house that needs repairs is to have a successful sale. If you solicit the help of a real estate investor, you will increase your chances of a successful sale every time. They have the capital to invest in your house and they can pay you cash, fast. It’s a true win-win situation for everyone. Please call anytime to ask questions. We love giving people information that helps them make the best decision for them.