Did you inherit an old property you do not like? Do you own a house that badly needs repairs but you lack the funds for renovation? Or are you a landlord who can no longer stand bad tenants? If you answered yes to any of the questions and you want to sell that property, this post can help you find your prospective buyers regardless of the property’s condition. You are trying to sell the home “as it is” and that could indicate a red flag. But believe it or not, there is still a way to find actual buyers who are willing to pay decently. Read our tips below to help you get started.
Be open-minded about low-ball offers
Renegotiating the selling price is the best way to sell a property that requires major repairs. If you think the house needs a lot of work, be objective with the price. As the seller, you are legally obliged to disclose everything about that property. Does the basement flood in heavy rains? Are there termites or wood-destroying organisms? You have to state all of these in the written disclosure. You have to inform your buyer about all the facts that could materially affect its value. Meanwhile, selling the house below its market value is the easiest way to attract potential buyers. Most buyers of “as it is” properties are investors. They either resell it or rent it out.
Consult a professional Realtor in your state
If you are still confused when it comes to pricing, a real estate agent can help you determine the correct market value of your property. Moreover, a realtor can help you correctly draft the disclosures before selling the house. Property disclosures vary by state. In Florida, for example, you can only disclose the things you actually know. Those who want to buy houses in Jacksonville should consider this before doing inspections or signing a contract. On the other hand, you as the seller have to ensure that you answer any buyer’s questions with all honesty. Otherwise the buyer has the right to file a complaint against you. Get help from a professional Realtor to protect yourself from any legal dispute in the future.
Demonstrate the desirable reasons of buying that property
Let’s say you are selling an old house. It may have unforeseen problems but you could emphasize that a vintage house has an old-world charm. The fact that it stood the test of time signifies that it was well-built and has a good craftsmanship. If the property has a very good location, you can stress that to your buyers.
Selling a home “as it is” comes with both pros and cons. You could receive negative feedback about the property. A buyer could walk away after knowing all the negative aspects of buying that house. While “as it is” properties come with drawbacks, you should not forget the positive things about that property. If you want to sell that house, be extra proactive in demonstrating the good side. The pros should always outweigh the cons. More importantly, get help from experts who could help you sell your house without so much hassle.