Friday, December 06, 2019 / by Jody Lee
You’re ready to list your home for sale and you wonder if you should invest the money into fixing it up or try to sell it as is. This dilemma depends on one thing return on investment. Let’s look at your options.
Selling a Home in "As Is" Condition
Let's say you have spent a lot of time and money on the exterior of your home, but the inside needs a lot of work. The main floor bathroom needs to be completely redone. The kitchen had a terrible leak that ruined the cabinets and flooring, the counter is damaged all over. There are holes in the walls, and you had a litter of puppies that soaked the floors in pet urine. You just don’t want to make that many repairs.
Buyers are going to be adding up the repair costs in their heads and want to offer that much less for your home. You may even get an investor that has cash offer but offers even less. Investors usually have quick easy closings. You will have to weigh your financial options.
You can also have kept up your home just enough through out the years and its in okay shape but needs one large fix like a roof. A roof will be a repair in the thousands and most buyers don’t want to inherit that kind of repair right after making such a large purchase. This may be another option of selling as is but may require the seller to reduce their listing price to reflect the potential repair.
This is one of those questions where the answer depends on variables. What is the general condition of your home? What is the condition of the comparable homes? What's the likelihood of a return on your investment?
Many sellers put way too much money into fixing up their homes before listing them for sale. They repair flaws or updates that a buyer might never notice or just won't pay extra for. Or they can only do a few repairs that will wow a potential buyer.
Give me a call and let’s take a tour of your home and talk about your list of repairs, updates, and flaws in your home. I would love to help you decide what your best options would be.
Haven Real Estate Group