Written By The Simply Homes Team | July 29, 2022 | 4 minute read
Here's something that might surprise you: Nearly 65 percent of all homes in the United States are more than 25 years old, and over half of properties need updates, repairs, or full-out renovations. Many homeowners think they need to spend money on expensive repair work before listing a property that's seen better days. However, some people will buy a home "as-is," where no improvements are required! In this blog post, find out the answer to the statement "How to sell my house that needs repairs" and learn how Simply can give you quick cash for your property, no matter its condition.
If your home needs upgrades, improvements, or even structural work, a traditional realtor might encourage you to fix these problems before listing your property on the market. That might cost thousands (or even hundreds of thousands) of dollars in repair work — money that you might not have.
According to one estimate, the most expensive home repairs include fixing central air conditioning and heat pumps, repairing furnaces and heating systems, and restoring roofs. All of these improvements could cost you upward of $9,000. However, even 'smaller' repairs like replacing wooden decks or removing trees can set you back.
Say you have a long list of repairs to make in your home. You might need to replace a furnace, restore your driveway, and paint the siding on your home! You might need to take out a loan just for home improvements, and you won't necessarily make that money back from your property sale. Is there a simpler way to do things?
You can still list your home in its current state. Your realtor will probably put something like "sold as-is" on your property listing, which indicates that you don't want to make any repairs before selling. Potential buyers will be aware that not everything in your home is in perfect condition.
The problem with this approach is that your realtor might reduce the value of your home because of its existing state. That's because some buyers might not want to make repairs when buying a property and, therefore, expect a lower asking price. You could receive an offer that's even lower than the cost of repairing your home!
Tip: Depending on the property market, your home could sit on the market for months if buyers are reluctant to purchase a home that requires improvements. If you want a fast sale, you might want to consider other options.
So how can you sell your home in its current state quickly and get a fair price? The easiest way is to sell it off-market without a traditional realtor. Depending on the company you use, you'll still get the best price for your home but won't have to worry about fixing your property before selling it.
Then there's the advantage of selling your home quickly. The average home in the U.S. spends an average of 25 days on the market with a realtor, according to Zillow, but homes that need repairs might take much longer to sell. Then there are the additional 30-45 days to close the sale after someone agrees to buy your home. Selling your home off-market speeds up the buying cycle, and the best companies can close your sale in as little as seven days. Sounds better, right?
You also get additional privacy when selling your home:
Simply can sell your home as-is off-market in as little as a week, making it one of the fastest and most convenient ways to sell your house in its current condition. If you need longer to move, Simply can wait up to 60 days. It doesn't matter if your property needs a few simple repairs or major improvements; you can generate a fair price without waiting for a realtor to inspect, list, and market your home!
Simply works like this:
Simply provides ongoing updates and support during this entire process!
If you think you need to repair your home before selling it, think again! Selling your property off-market can speed up the buying process and generate a fair price for your home, no matter its condition. Enter your address here and get an offer on your house from Simply!
November 10, 2022
June 2, 2023
June 7, 2023