Unavoidable circumstances can force you to sell your house in its current condition. May be you want to pay for the university education of your child, settle a debt that has been pending for too long or you just want to relocate to another area. Selling your home as-is means that you will not do any repairs, probably because you are broke or maybe the work is too expensive in comparison to what you will get back when you sell it. The good thing is that there is a niche market for such properties.
There are actually people that buy such houses, remodel them then list them for a higher price tag. However, it’s still not easy to convince people to buy an old home that needs lots of repairs. Your best bet when you are in such a dilemma would be to sell it to a house buying company because it’s the only way of avoiding the long wait. But even then, there are some considerations that you must make when disposing your old home. Below is a list of the issues that you should factor into when selling your house.
No matter how wrecked your home looks, you can’t sell it at the same price that you bought it for several decades a go. You just have to make profit out of the deal or the whole idea of selling it won’t make sense. As a matter of fact, setting the price of an old house is a bit tricky. This is due to the fact that you can’t base its cost on current market prices. According to an article published by Huffington Post, most home owners make the mistake of setting price after checking the prices of other listed properties.
The best thing would be to set a price that’s guided by other old homes that were sold recently. Remember, when you hike the price of an old property, you are simply sending away potential buyers. In fact, you should do the math on how much money you initially spent to add some features that you felt were necessary back then and come up with an affordable figure.
Experienced buyers consider the condition of a home before they buy it because they want to be sure they get good value for their money. In fact, it’s the major factor that determines how soon a home will get off the market. Lest you forget, every potential buyer that will look at your house will do quick calculations on the amount of money he will put into renovating the entire home.
But there are some tricks that you can use to give your property an edge. First, when listing the home, you should capitalize on key features. Secondly, you should clear the bushes, mow the lawn and clean the driveway. And that’s not all. You should clean the carpets, curtains and laundry basins to get rid of foul smells.
In case you didn’t know, buyers consider where a property is situated. As a seller, you must also factor into this issue so that you can go into the market with realistic expectations. Research shows that properties that stand in prime locations command a higher price than those that are situated in congested areas. If your property is close to social amenities such as schools, banks, police station and shopping center, you will definitely make a good kill because it’s in a high end market region.