So you need to sell a house as is, but it’s in less than stellar shape. Looking around at the homes currently on the market, it may feel like you have no options. If your home is an eyesore, and you’re staring down a list of needed repairs a mile long, you may be wondering how on earth you’re supposed to afford all of this.
Depending on the condition of your home, you may be realistically looking at tens of thousands of dollars (or more) in repair work to get the house sale-ready. Just for reference, here are the average prices for some of the most commonly needed home repairs today:
- New Roof: $10,000
- New Foundation: $30,000
- Updated Kitchen: $15,000
- Updated Bath: $15,000 (with an average of two to three in the home)
- Exterior Paint: $10,000
- Interior Paint: $5,000
- New HVAC System: $10,000
- Refinishing Floors: $7,500
Do those numbers make you queasy? You’re not alone. Looking at the hard facts, you may think it’s going to be impossible to sell a home that’s in disrepair. But it’s not!
Even if you don’t have the kind of time or money it would take to update your home, you still have options. The bottom line is this: Even if you can’t afford to fix up your house, you can still sell it.
Selling a house in poor condition or selling a house as-is all comes down to finding the right buyer. The process of selling as-is for cash can be summed up in these five easy steps.
1. Find a Reputable Buyer
Unfortunately, the industry does have its fair share of scam artists. Before you commit to selling your home to a cash home buying company, do your research! Look for positive online reviews and, if possible, confirm their legitimacy with the Better Business Bureau.
Protect yourself first and foremost by finding a company that is on the up and up. Trust your gut, and don’t let anyone pressure you into a situation you’re not comfortable with.
2. Get a Quote
Depending on the company, this may be done over the phone, over email, or in person. However you receive your quote, the company will appoint a representative to evaluate your home. They’ll check it over and determine what the selling price should be.
When you sell a house as-is, you can’t expect to get the full market value for it, plain and simple. However, make sure you feel like the price is fair before moving forward.
3. Sign the Contract
Once you have looked over the company’s offer and feel good about the price and conditions, you can move forward with signing a contract. Always make sure to have everything put in writing, and, if possible, have a lawyer or other experienced professional review the contract with you to ensure that the terms are crystal clear and you’re being treated fairly.
4. Close the Deal
After confirming the details of the contract, you’re ready to close! The company will set a date with you to finalize the sale, and when it’s all said and done, you’ll walk away with cash in hand for a house you were worried you wouldn’t be able to sell! You’ve reached the end of the road with this home, and you’re free to move forward however is best for you.
If your home is in need of massive repairs, and you don’t have the time or funds to complete them before you sell, give us a call. You may even be surprised to see what your house is worth in as-is condition.
Meridian Trust has purchase homes in varying conditions, so call us today if you’re selling a house in poor condition. Get your quote, and stop worrying about a house you can’t afford to fix up. Take this first step toward alleviating yourself of that burden and opening the page on a new chapter of your life.