You need to get rid of your house, but how? Who would ever want to buy a house in such poor condition?
If this is where you stand right now, you might be racking your brain trying to figure out what to do about it. After all, selling a house in poor condition isn’t always an easy feat.
There are options, though, and I’ve got you covered.
Let me share seven helpful tips with you that may help you find a way to sell your house despite its poor condition.
If you own a home, you are free to sell it any way you’d like, and one option is selling it as-is. You can sell it as-is by hiring a real estate agent to list it for you.
When you include the “as-is” phrase on the listing, it will tell people that the house comes just as they see it. The owner will not put any work or money into the house. The buyer takes it just as it sits.
Selling as-is isn’t hard to do, yet it will take some time. The buyer pool for homes like this is not as large as for homes that are in great condition.
When you advertise an as-is home, buyers will know that you are not willing to fix things with the house, but they will still have the legal right to add a home inspection contingency to the purchase offer.
If they discover some significant issues through the inspection, they may back out of buying your house.
If you have the cash for some renovations, you might benefit by choosing this route. You could throw some money into cleaning up the house and making some much-needed updates.
This option will cost you some money, but you’ll also be able to sell it for a higher price.
A challenge with this option is knowing which tasks to complete. What tasks are most important? Where should you put your money?
Another challenge of this is that it can turn into the domino effect. You fix one thing in the house and then notice another issue you should fix. You correct that and notice another one, and on and on and on.
Some homeowners find luck with hiring an auction company when they need to get rid of a house quickly.
An auction company advertises the sale of your house and then hosts an auction on a certain day. Anyone interested in making an offer can do so, and they will sell the house to the highest bidder.
The trouble with this method is that you might end up selling your house for a lot less than you hoped for, as the sale goes to the highest bidder. If only one person shows up and makes an offer, that person could get your house for a steal.
If you have a mortgage on the house and your lender agrees to it, you could sell it through a short sale.
A short sale is a method that lets you sell a house for a loss without owing the lender any money. The deal settles your account, no matter what price you get for it.
There is a downside to this option, too, which is time. It takes a long time to get a short sale approved through a lender, and then it takes longer to find a buyer and close on the property.
If you’re looking for a quick sale, this isn’t the best route.
You always have the option of trying to find a buyer yourself, too, and you can do this by listing your home for sale by owner (FSBO).
The benefit of selling it yourself is that you eliminate the commission because there is no middleman. You keep all the money from the deal. The hard part is finding a buyer.
Have you considered keeping your house? I mean, this is always one option to consider. If you keep it, you could remodel it little by little and sell it later on. Keeping it would eliminate the need to figure out how to sell it, too.
You can find real estate investors in every city in this country, including right here in Austin. Real estate investors buy homes, and they buy all types of homes. They buy good ones, bad ones, and even ugly ones.
Here are the benefits of selling it this way:
Does this sound too good to be true? Well, it may sound like that, but this is really how it works.
Selling to an investor is the only option that offers an instant sale and closes within just a few weeks. If you need to sell now and don’t want to invest money in the house, this is the route you should consider.
We get calls all the time from people who need to sell their homes quickly, and many of these homes are in poor condition. If you’re worried about selling a house in poor condition and don’t know where to turn, contact us.
We buy all kinds of homes and offer cash for them. The process is simple, fast, and guaranteed.
Fill out this form, and we’ll get back to you shortly with a cash offer.
Lisa is a local real estate investor in Austin Texas.