It can be a bit difficult to sell a house in poor condition. Most of the time, these houses have a hard time attracting offers since they are not up to the standard of most buyers.
You can use the term “poor condition” to describe houses in a range of conditions. However, they will usually fit into 1 of 3 categories. This includes being almost uninhabitable, in need of repairs, and outdated.
If you’re planning to sell a house in poor shape, you need to figure out what condition your house is in. Furthermore, you also have to figure out if it is better to invest energy, money, and time to make repairs or simply sell your house as-is.
Today, we’re going to share with you some of the options you can choose when selling a house in poor condition. This includes hiring realtors in Corpus Christi TX, selling it to a cash buyer, and more.
Hiring an Agent
The ideal way to attract offers from traditional buyers is to list your house with the help of an experienced realtor. These traditional buyers will usually pay full market value for your house.
One drawback of this method is that buyers will usually only buy houses in decent to good shape. The reason for this is that almost all government-backed mortgages will only lend to borrowers who purchase a house in good shape with no need for major repairs.
Traditional buyers are ideal for sellers who are looking for a higher offer on their house and are not in a hurry to get rid of the property.
Sell it to an iBuyer
If you want to sell your house quickly, you should think about selling it to an iBuyer. For those who don’t know, iBuyers will use technology to estimate how much they would be willing to buy a property for.
Usually, iBuyers will make offers close to the fair market value of your house. The drawback is that they will not purchase houses that require a lot of repairs.
You can think about selling your house to iBuyers if you want a quick sale and you are not against making small upgrades to your house.
Cash buyers provide homeowners the chance to get all cash for their house and close the transaction in as little as 15 days.
For those who don’t know, cash buyers include investors and companies searching to buy a property as a real estate investment to flip for a higher profit.
Because these buyers pay all cash and focus on distressed houses, they usually offer to purchase the property fast and without any contingencies.
If you want to sell your house to a cash buyer, you will not have to make any repairs to your property. The reason for this is that cash buyers purchase the property as-is.
The drawback is that you might lose out on tens of thousands of dollars since cash buyers usually make offers far below the value of your property in the market.