Yes – even if you cannot afford it or just downright don’t want to fix up a house you can still sell it.
Plus, with a few tips and tricks you might even be able to get more for it by selling it as is rather than doing the fixing yourself.
So, whether you inherited this house and don’t want it, or have put off the renovations and maintenance for a few years knowing you were going to downsize anyway or any other situation where you’re tied to this old dilapidated home and don’t want the headaches and liabilities – yes you can sell this home to a cash buyer like us.
Now you may be wondering why sell to a cash buyer?
Well, when selling a home that’s falling apart to a cash buyer you forgo the obligation to do a home inspection because we’ll buy it without a full home inspection.
Depending on your situation you should definitely consider all options, however if the property needs substantial renovations the only option to get rid of that property in its current condition and shed those liabilities would be with a cash buyer or cash buying company.
After reading this article you should be able to determine what it means to have a house that is falling apart and whether seeking out a cash buyer would be the correct option.
Is it worth fixing up your house before you sell it?
Don’t worry you’re not alone in searching for this answer. It is probably the most frequently asked question from other home sellers just like you. Unfortunately, there’s no one size fits all answer to that question – it depends !
To really make that determination would depend on a few different factors that we outlined in a prior article but I will include here anyway –
- What is the current condition – really bad, bad, average, above average?
- What is the state of your local housing market?
- Do you have a trusted contractor to do the work?
- How much are you willing to win or lose from the sale?
Now there are some Frequently asked questions that might help you determine whether to sell as is or do the fixing.
Generally, when the home has a major structural issue (roof, plumbing, central a/c, sewer/septic, foundation, flooding) needing immediate attention that might cause a house to not sell because those issues can cost the new homeowner in excess of $20,000 and the bank will force the Buyer to make those fixes prior to approving their loan.
Now, assuming you don’t have those issues and are looking to do some fixing before selling – our pro tip would be to fully renovate the kitchen up to the 2022 HGTV standards. Yes, It can get a little costly but it will improve the value the most in our experience. Later we’ll discuss what not to fix when selling.
What do the most common House Repairs Cost?
This is an interesting one. The answer here is 100% dependent on where your home is located. Depending on the state and sometimes even county you’re in will make all the difference in the world here.
Some of the most expensive places for home renovations are: California, Oregon, Washington, Washington D.C, New York.
Where some of the more affordable home renovations are: Florida, Georgia, North Carolina, South Carolina, Tennessee.
Additionally, this will vary drastically from year to year based on the cost of building supplies. Currently it is costing us 100% more to do a home renovation than it was back In 2019.
However, I know everyone wants to see some numbers so we’ll share a few ranges but don’t quote us here! (This is constantly changing, even from week to week at the moment.)
Most common home renovations:
(These ranges are for a 1,500 sq. ft. home in July 2022. If your home is larger or smaller the numbers will be different)
- Expensive State – $35,000-50,000
- Reasonable State – $25,000 – 40,000
- Expensive State – $40,000
- Reasonable State – $20,000
- Expensive State – $25,000
- Reasonable State – $15,000
- Expensive State – $20,000
- Reasonable State – $12,000
- Expensive State – $15,000
- Reasonable State – $8,000
Is it worth fixing up your house before you sell it?
One of the more important factors from above is what is the actual condition of the property currently – is the roof a total loss or is there just some wear and tear from raising kids in the house for 25 years.
If you’re more in the latter category and you decide you want to get the absolute most for the property no matter the risk we’d recommend investing into the house before selling by renovating the kitchen. Budget about $20,000 to $40,000 depending on where you’re located and get started with those granite countertops and sleek oven – that’s our secret to doing up a house before selling to get you top dollar.
If on the other hand you’re more risk averse it might make more sense to sell it as is and skip the hassle and wait for renovations. Again, every situation is different and our other article is much more thorough in evaluating your situation.
What to do when your house is falling apart and you have no money?
This one is a bit easier than it may sound – find someone else (a cash buyer like us) that can take on the house even in its current conditions.
A cash buyer can see the future value in the home no matter what the current conditions.
In the most extreme situations the house may need to be torn down and rebuilt but the seller like you can still salvage some money from the sale. Don’t be afraid to call us and get a quote no matter how bad you think the conditions are, – insert really bad house we sold in Tyler Texas.
What not to fix when selling a house…
So this depends a bit, but let’s assume your home is not the absolute nicest house on the block but it can pass an inspection and you’re looking to sell to an ordinary buyer.
Don’t Do These!
- Landscaping: Unless you’re going for tip top dollar and the home can prove it (it looks like the ones you see on TV) and it was fully renovated within the last 6 months, doing the landscaping is a waste of money. The new buyer is going to likely redo the landscaping as they want. Additionally, landscaping can add up quickly with the average cost for us at $11,300.
- Only fix 1 major issue when there are more: What we mean here is – if there is a roof that needs to be replaced and the plumbing is leaking – don’t replace the roof but leave the plumbing issue and try to sell. The buyer is not going to give you a premium for the roof being replaced if they still will need to do the plumbing. It’s all or nothing here !
- Stage the home: You may have seen it on TV and it does work wonders but only on the homes that are fully renovated and going for absolute top dollar – this can run you $5,000++.
- Anything else that wouldn’t be required to pass an inspection: If you’re selling a home with normal wear and tear, ask a local expert what are the minimum repairs needed to pass an inspection and just stick to those. It also may be the case that a certain renovation may add more value because of the specific neighborhood and demands of that market so speaking to a local expert Is a great idea.
Selling an “as is” or poor condition house comes down to finding the right buyer
Not all cash buyers or companies are created equal.
Some run the other way when the home is in need of major renovations others don’t seem to mind too much and actually get excited about totally transforming the property into the crown jewel of the neighborhood.
So here it’s easy – you just gotta reach out and ask whether you’ve got the right buyer. There is always a buyer so if the first person says no you just need to do a little more research.
Here is goes step by step:
Find a Reputable buyer
- Read the reviews, the about us page and verify you’re dealing with someone you can trust before even picking up the phone. Next call them or fill out a form on the website requesting an offer,
Get a Quote
- Here’s where you’ll explain a bit to the cash buyer about the conditions of the property and what needs fixing. Depending on the buyer they’ll either calculate the offer on the spot or set up to see the property. We get you an offer right there on the spot!
Sign The contract
- We then send over the contract to you for an electronic signature and schedule for the walk through of the property. You’re in touch with a dedicated coordinator for your specific closing all the way to the finish line.
Finalize the Closing
- A few weeks later the paperwork is signed and you get your money – check or wire transfer!
There you have it. Yes you can sell a house even if it’s falling apart and you yourself wouldn’t step foot in there.
Additionally, if you just don’t want to deal with the hassle and make any repairs a quick cash sale can also be an option. In fact, every seller should calculate whether they’d put more money in their pocket by fixing up the property or by selling it as is.
It’s not always about the convenience and ease of a cash buyer (although we are quite amazing). Many times it’s actually more money in your pocket by selling to a cash buyer.
Hopefully this article gave you some confidence to fill out a form to determine whether a cash offer would make the most sense no matter what the condition of your home is. We’ll make you an offer.