Are you in a position where you've inherited a home that needs a lot of work, or have you owned a home for a long time but haven't been able to keep up with it? If you're wondering how to sell a fixer-upper, this article is for you.
The first step in selling a fixer-upper is to understand what needs to be fixed. Knowledge is power, so hiring a third-party licensed inspector to inspect the home is highly recommended. This will give you a clear understanding of everything that's wrong with the home. After the inspection, you can hand over the inspection report to a general contractor and get an estimate of what it would cost to bring the home up to today's standards.
Once you have a clear understanding of what needs to be done and how much it will cost, you can price the home effectively. Subtract the estimated repair costs from the market value of the home, and that's how you can determine the right price for the property. This knowledge and transparency will prevent you from feeling compelled to take a lower offer.
If you're interested in selling your fixer-upper, it's crucial to work with a real estate agent who has experience working with distressed homes. This is where we can help. Our office can refer third-party inspectors and general contractors, and we can provide you with an accurate estimate of the actual market value of the home. This way, you'll know exactly how much you're going to get paid at the closing table.
Selling a fixer-upper can be challenging, but with the right knowledge and a good real estate agent by your side, it can be a smooth and profitable process. Don't hesitate to reach out to us if you're interested in selling your fixer-upper. We're here to help you navigate the process and get the best price for your property.