Too Many Repairs?

The benefits of selling your fixer-upper to a cash buyer

Selling your home can be headache-inducing. Advertisements, Realtor fees, and home inspections are both time-consuming and costly. If you’re attempting to sell a house that needs a lot of work, getting your home in showroom condition might not be worth it financially.

In preparation of selling your property, you must be able to answer this question: will I receive more money once I fix a house or sell it as-is? If finances are lacking and major repairs are necessary, the question becomes how do you sell a house when you cannot afford to fix it?

Renovations and custom homes with many repairs

Making your home attractive to potential homebuyers is necessary for a top-dollar sale. Cosmetic issues like wall color, replacing appliances, and chipped floors are cheap and might not hinder a sale. Yet, structural defects are expensive repairs that still must be made.

Sometimes, the most major repairs are only unsurfaced after a thorough home inspection.

When trying to sell your home, you need to consider these hard-to-find repairs and what it might mean to a buyer. Most buyers aren’t willing to pay the desired asking price on the assumption that everything they can’t see is in the best possible condition.

In many cases, it’s easier to sell a house with repairs. But how do you make structural repairs without bleeding your wallet dry? Some sellers utilize contractors. Many contractors are equipped to handle minor damage and short renovations. But when it comes to major renovations costs can skyrocket, and work usually gets more expensive.

Using contractors to help sell a house that needs a lot of work comes with a steeper price tag. It also comes with a longer transition period between listing and closing. Best case scenario: your contractor does exceptional work within a guaranteed allotted timeframe.

Do you want to fix those major structural defects like replacing your roof, deck, or septic system? It'l mean shelling out tens of thousands of dollars before even getting to list your home.

Renovating your home with contractors before selling can also deter potential buyers. When confronting cosmetic and particular major repairs, homeowners are faced with home-altering decisions.

Selling with a Realtor As-Is

So how do you sell your fixer-upper? Making repairs are necessary but the thought of hiring contractors may be unsavory. Many homeowners decide acquiring a Realtor and selling their house without making repairs is the only option.

Going the traditional route and using a Realtor to sell a house fast with too many repairs is tough enough; but selling a house that needs repairs, especially major ones, is seemingly impossible for even experienced real estate agents, the majority of heavy fixer homes sit on the market for months all the while your still making payments on the home.

However, your Realtor is more concerned with selling and receiving payment than selling your home at top price to the right buyer. Sometimes, using a Realtor means giving up your home’s best chance to sell.

Using a Realtor also comes with unexpected fees, commissions, and unwanted advice on how to manage your property. Yahoo! Finance’s Mandi Woodruff estimates that even after paying the buyer’s commission - generally 3% - For Sale By Owners (FSBOs) cut selling costs in half by avoiding their own broker’s commission. With a median household cost, cutting out a Realtor saves thousands!

The solution

If you’re looking to sell a house fast with repairs by using contractors, expect heavy fees, paperwork, and other hassles. Want to hire a Realtor and sell without making repairs? Expect even heavier fees, a longer time on market and other complications due to third-party involvement.

But if you desire a simple, stress-free solution to selling your house with too many repairs, consider a cash buyer.

Cash buyers also provide more stability for sellers. They are usually pre-approved before making an offer on your home. So when a cash buyer is interested, there’s a sureness of sell that cannot be matched elsewhere.

Arguably the best advantage to accepting a cash buyer is their desire to buy your home as-is. Homeowners needn’t worry about fixing major repairs, updating outdated finishes, or appealing to the average buyer. A cash buyer wants your home just the way it is, and is willing to pay fair market value for it.

So how do you sell a house fast when there are too many repairs? Avoid costly renovations and contractors, skip the Realtor and their associated fees, and seek out cash home buyers. They offer you more security and money without settling for less.

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Sell a house fast even if it needs repairs