So how do you sell your fixer-upper? Making repairs is necessary but the thought of hiring contractors and owning a Frankenhouse is unsavory. Many homeowners decide acquiring a Realtor and selling their house without making repairs is the only option.
Going the traditional route and using a Realtor to sell a house fast with too many repairs is tough enough; but selling a house that needs repairs, especially major ones, is seemingly impossible for even experienced real estate agents. As the 2016 housing market steadily grows, as projected by Jonathan Smoke, Chief Economist for Realtor.com, buyers have become more selective with a plethora of homes for sale.
Smoke predicts that six million homes will be sold this year alone, the highest amount of homes sold in a decade. With that kind of supply, sellers must expect more time on the market and fiercer competition.
When selling a house that needs repairs, Realtors often suggest lowering your asking price to shorten your home’s time on market. In theory, this is great. The more time a house spends on the market, the more time a homeowner spends paying the home’s utilities, taxes, and insurance. However, your Realtor is more concerned with selling and receiving payment than selling your home at top price to the right buyer. Sometimes, using a Realtor means giving up your home’s best chance to sell.
Using a Realtor also comes with unexpected fees, commissions, and unwanted advice on how to manage your property. Yahoo! Finance’s Mandi Woodruff estimates that even after paying the buyer’s commission - generally 3% - For Sale By Owners (FSBOs) cut selling costs in half by avoiding their own broker’s commission. With a median household cost, cutting out a Realtor saves thousands!
A Stress-Free Solution
If you’re looking to sell a house fast with repairs by using contractors, expect heavy fees, paperwork, and other hassles. Want to hire a Realtor and sell without making repairs? Expect even heavier fees, a longer time on market and other complications due to third-party involvement. But if you desire a simple, stress-free solution to selling your house with too many repairs, consider a cash buyer.
Considering a cash buyer might seem unorthodox, but it’s quite common in today’s market. 2012’s Investment Issue of Forbes Magazine says about 30 percent of homebuyers used 100 percent cash when purchasing. Some estimate that percentage even higher today. Accepting a cash offer eliminates many struggles sellers face when trying to sell a house fast with too many repairs. Cash buyers offer a much quicker close. This is due to their ability to skip the mortgage process completely. By avoiding banks, selling to a cash buyer means closing and receiving payment within a week – as opposed to the typical 30 days. This speed of sell means more money in your pocket sooner.
Cash buyers also provide more stability for sellers. They are usually pre-approved before making an offer on your home. So when a cash buyer is interested, there’s a sureness of sell that cannot be matched elsewhere. Arguably the best advantage to accepting a cash buyer is their desire to buy your home as-is. Homeowners needn’t worry about fixing major repairs, updating outdated finishes, or appealing to the average buyer. A cash buyer wants your home just the way it is, and is willing to pay fair market value for it.
So how do you sell a house fast when there are too many repairs? Avoid costly renovations and contractors, skip the Realtor and their associated fees, and seek out cash home buyers. They offer you more security and money without settling for less.
Get a Cash Offer Within 24 Hours
Lucky for you, we buy houses in Knoxville. We work fast to get you a no-obligation cash offer for you house within 24 hours.
Our customers comment all the time about our soft approach. You won't get a hard sell with us. If you are not completely satisfied with the offer we make to buy your house, you don't have to accept it. No charge. No fees.
We'd love to talk to you today about the house and your situation. We're here to help even if you decide not to sell your house.
Give us a call at 865-268-4537 or fill out the form below to get started. We look forward to talking with you.