Selling a house that needs many repairs is not a fun time! Specially if you are in a time constraint and need to sell it fast.
Let's start from the beginning. You've probably owned this house for a few years, and neglected to take care of it for various reasons. Maybe you went through a rough patch, and money was short; you moved away and didn't have easy access to the property, or maybe you had terrible tenants and they destroyed your property!
All of these very common reasons for homes to be neglected and in need of repairs. Luckily for you there's a few ways in which you could sell a house fast, even if it needs repairs!
(Before we start though, if you are having trouble selling your house on the market, here's a video that will help you out a lot)
1. Repairing the damage
Of course, this one is obvious. Making the repairs. Now.. If this was your intention I understand you probably would not be reading this blog post, but it's something you definitely should think about! There are a lot of ways in which you could repair the house enough to make it decent enough to put it up for sale. This may not always cost as much as you think, so you should definitely think about it!
Action: Do a quick search for local contractors and have at least 3 come out to give you a quote on your work. This process is usually free and it will give you a solid idea of how bad the repairs are; having a quote may come in handy for you if you go with some of the options below.
2. Selling Your House as is
Yes, selling a house fast in as is shape may be more difficult than selling a house in peak condition, that being said... it is very doable and may be the choice for you! You could sell as for sale by owner, or contact a realtor in your area who is willing to work with a house that needs repairs.
Pros: Eventually selling your house.
Cons: You will not get peak dollar for your house, and it will take a little longer than you expect.
3.Contacting your trusted local real estate investor
This alternative is definitely where most of you will end up in. It is the least time consuming and easiest way to sell a house fast. Contacting a local company that buys houses as is, and fast, is most likely your best bet if you have a house that needs heavy repairs and you don't have much time to work with!
A real estate investor will not be so picky about the repairs that the house needs, since they will be remodeling the house. Also, no one will be able to buy your house faster than an investor, since they work with cash reserves they are able to close very quickly.
How To Find One: There's usually multiple home cash buyers in any area of the country. You can find them by doing a quick google search, or calling one of those "We Buy Houses" signs you see on the side of the road. If you are located in the Raleigh or surrounding areas and need to sell a house fast, here's a link that you can follow to reach the #1 House Buying Company In Raleigh
Look... Maybe selling your house may not be in your best interest at the moment, so here are other alternatives you can ponder on
Becoming a landlord may not be in your plans. But it is better than having an empty house if you need to move regardless. Renting may be easier than you think, just make sure you screen your tenants well!
5. Move back to the house, and make the repairs slowly
This may work for you if you don't NEED to sell your house fast, and can hang around for a little longer.
Action plan: Budget a set amount for repairs every month and work on what you can with that budget every month. This may take you some time, but you will eventually have the house in good enough shape to sell it.
In Conclusion, when you need to sell a house fast, even when it needs repairs, you have many options to choose from. It is more common that you think, and we are here to help!
If you can think of something else someone can do if they need to sell fast but the house needs repairs, leave it in the comment section below
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