They say your home is your castle, but it can also quickly become your money pit. A reflection of broken dreams, a failed marriage, and personal or financial setbacks. Neglected repairs add up. They get so extensive and costly that nothing ever gets done.
The home looks more and more run down with every passing day. Home improvements you envision when your head hits the pillow at night and you shut your eyes never come to fruition.
Now, you find yourself needing to sell your house fast in “As Is” condition; just to get out from underneath this dark cloud and start anew.
If you’re a homeowner in the Bay Area looking to sell a distressed house, you need to be prepared. Today, Skye Homes – San Francisco Bay Area real estate investors, offers several tips to ensure you do this like you’ve done it before. We want you to have a smooth, hassle-free, and successful transaction. Most of all, we don’t want you taken for a ride either be a real estate agent or a dishonest real estate investor.
Familiarize Yourself With Your Potential Buyers
If you’re not working with a realtor, you need to know what companies or individuals in your area buy distressed properties.
For instance, house flippers buy low-cost houses with the intent to remodel and eventually resell at a price high enough to recoup their original expenses and profit.
Deal hunters, just like their name implies, are looking for bargain properties.
Remodelers are visionaries. They’re looking for opportunities to make the dream homes they envision a reality. They’re intentionally looking for homes in need of repairs, redesign, and restoration.
These are the potential buyers you’ll be meeting with. Invite them over for a free assessment and hear out their cash offer. Don’t forget, we at Skye Homes also buy ugly houses in the Bay Area.
Address Smaller and More Economical Home Repairs
If your budget allows, address some smaller more economical improvements or updates. Have your lawn tended to. Patch some holes or cracks in the wall or ceiling. Repair leaky faucets. Maybe have the carpets steam cleaned or slap a fresh coat of paint on a few walls. These are all relatively affordable renovations that could get you a somewhat better cash offer.
That said, be honest in your advertising. Don’t be covering up or masking problems. Don’t buy an area rug to throw atop an unsightly dog pee stain on your hardwood floor. Don’t repair a water damaged ceiling when the problem that caused water to enter your home hasn’t been addressed. Issues like these need to be brought to light. The buyer needs to know exactly what they’re getting – warts and all. You want to be fair to them.
Come Up With a Few Selling Points
Step back and carefully assess your home and the neighborhood it sits in. What would you highlight to a potential buyer to shift their immediate focus away from items that need to be repaired? Perhaps you have a spacious kitchen, ample closet or storage space, a two car garage, or a wonderful view? Highlight any unique characteristics your house might have. Spotlight the neighborhood, too. Maybe there are comparable homes in your neighborhood commanding high sales prices or monthly rents? Are there exciting new developments under construction or amenities like restaurants, dog parks, coffeehouses, etc. nearby?
Price Your Home
Begin by researching similar homes on sites like Zillow, Trulia, or Redfin and educating yourself on various market pricing techniques. Right out the gate, you may be tempted to contact a real estate agent or broker. Resist this temptation. They will commonly overexaggerate your home’s value so you work with them.
Then, get some free estimates for suggested repairs or renovations if you were to list the property.
This way, when a cash buyer assesses your property and makes you an offer, you’ll know whether or not they’re presenting you with a fair offer. Just know you’re in control. Don’t feel pressured into a relationship with a realtor or accepting a cash offer if you’re unsure of anything.
Selling a House that Needs Repairs in the Bay Area? – Let’s Chat!
If you follow these steps, we’re positive you’ll be successful selling a house that needs a little work. Just know that you have options when it comes to selling your home. Fortunately, the Bay area is a place buyers, particularly real estate investors, love to buy in.
If you’d like a free assessment of your property’s condition, contact Skye Homes by calling or texting 510-220-0712 today to schedule your free home analysis. You can also fill out the contact form below and we’ll be in touch with you soon!