Imagine going through the troubles of finding a realtor and just when you find them, they tell you that your house is dilapidated, unappealing, and unsellable! These are just among the issues homeowners face when selling a house with issues. One thing to note is that the housing demands have doubled up over the past few decades owing to an increase in population. However, it’s typical for homebuyers to be particular about their needs. They are also very specific about what they want and it’s sometimes a real bother to realtors but also to homeowners looking to sell their houses. Among the many issues that make a house unsellable include bad location, an aged house, issues with the house systems, and bad interior design to mention but a few! So, what’s the right way to sell a house with some of the aforementioned issues?
1. Disclose the Issues in Writing
Selling a house with issues is one of the most difficult things you can do. However, this doesn’t have to be so. The problem is that most homeowners will want to hide and sweep a few things under the rug when selling a dilapidated house. But if you pay close attention to the next lines, you’ll learn that this is illegal.
Whatever your house’s condition, your location, or the problems you’re going through, the law requires that you disclose any issues with your property before signing on the dotted lines. So, if you’re selling a moldy house, a house with structural issues, or failing home systems, it’s about time that you came clean about these issues. These are all the more reasons why you need a house inspection before selling your house. Because come to think about it, it will be quite embarrassing if the potential buyer brings their house inspector and they learn about the underlying issues that have not informed them earlier. Signing a statement of your home’s condition before selling has become a mandatory requirement in most states and it has helped many a homeowner sell their property in the ‘as is’ conditions
2. Understand the Buyers’ Needs
There are so many home buyers out there who are looking to buy homes that have issues and yours will be no exception. Once you’ve identified your type of buyer, it will be easier to know who to sell to. Most of these buyers will agree to your terms and conditions regardless of the issues with your house. To make it easier for you, work with a qualified realtor, let them know about the issues with your house, and let them enlist your house in their selling platforms. It’s as easy as that!
3. Selling at Auction
Did you know that you can fetch a good price by selling your broken-down house through auction? For some reason, a dilapidated house affects people’s interests. Most buyers view this as an opportunity to renovate and upgrade the house in the way they’d wish it to look. Unlike buying a new house that has already been designed and furnished, there are endless possibilities for what a person can do with a run-down house.
4. Improve Your Home’s Curb Appeal
Next on the list, you need to consider the possibility of making your house look more appealing. Of course, you’ll have to break into your account but then again, you must think of the bigger picture in the equation. This means improving your home’s curb appeal and that’s before you start marketing your property for sale, you’ll need to first inspect your house to determine the improvements and renovations that need to be done. Among the things to include in your home improvement to-do list include:
- Odor control
- Paint jobs
- Taking care of pest infestation
- Environmental improvements
- Home system upgrades
5. Price Your House Right
When selling a problematic house, one thing that comes to mind is that you need to set the price right. No one will want to buy a broken-down house at the same market price as a fully furnished new house. It’s unrealistic and unachievable not unless it’s under auction. The thing is, you don’t want to appear to be taking advantage of potential buyers. This is why a home valuation makes a lot of sense. This way, you’ll be able to determine the right price for your home in a competitive market space.
As you can see, it takes a lot of guts to sell a house with pre-existing issues. The above pointers will go a long way in providing you with crucial insights on how to successfully find the right buyers for your run-down house.