Your old home is a fixer-upper: there’s some mold, and some drywall needs to be replaced among other things. Whether serious or minor repairs are needed, you’re looking to sell the home, but don’t know where to start. Thankfully, no matter the condition, you can sell a fixer-upper home with the right strategy.
Talk to Your Real Estate Agent
If you want to sell your fixer-upper home, talk to a reputable real estate agent that has experience selling fixer-upper homes. They will go over the home with you and cover the best options for selling the home. They may recommend selling the home at auction, as participants are serious about buying and won’t back out of the deal when they purchase the home. If selling traditionally, they will help you market it the right way to attract buyers.
Set the Right Price
If you’re selling your fixer-upper home for more than it’s worth, you won’t be able to sell it. Prospective buyers will look at the high price and the renovations that need to be done on it and pass it by. It may not be as much as you’re looking for, but set the price lower to attract buyers—especially those who are specifically looking for a fixer-upper home. Your real estate agent will be able to show you price comparisons of homes that are similar to yours so you know what the market is like.
Clean It Up & Show Off Its Potential
You may want nothing more to do with the home, but take the time to clean it both inside and outside. If you don’t want to do it yourself, get a professional cleaner. If the home has mold, make sure you get it cleared right away. Even if a buyer is willing to do it themselves, it’s always a good idea to have a mold professional come in and
When selling a fixer-upper, highlight its good points. Is it in a good location? Does it have a lovely kitchen? Showing off the home’s potential to buyers will encourage them to see what the home could be. Just remember to be honest and don’t fabricate claims.
The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.