If you’re trying to sell a house with extensive damage, you might wonder if you’re trying to do the impossible. You might be thinking that no one will want to buy your house in its current condition and that there isn’t much you can do to make any money on a sale. You might be surprised to find that isn’t the case. However, you need to be smart in how you proceed, whether you plan to sell the house on the open market or as-is to a cash buyer like Element Homebuyers. Let’s look at how to sell a damaged house in Lincoln, Nebraska fast.
Decide If You Want to Sell A Damaged House As-Is
If speed is the name of the game for your damages or distressed home, there is no quicker way to sell it than you work with a cash buyer or real estate investor to purchase it as-is. What this means is that the buyer will not require you to do anything to fix or upgrade the situation, but will make you an offer based on the current condition of the property. If there are critical issues with the damaged house, they will take them on so that you don’t have to worry about it anymore. They’ll even buy the house from you if there are financial concerns, such as foreclosure or tax liens.
They’ll visit the property and assess it, taking into account the repair and renovation needs. They’ll make you a fair cash offer based on the house’s condition. If you accept the offer, you say how quickly you’d like to close. No need to get real estate agents, assessors, or inspectors involved. They will hand you cash for your house and then it’s up to them to renovate the property or rebuild it in order to create profit for themselves. You get to move on quickly and not worry about the hassle any longer.
If Not, Consider What You Can Fix Fast
If you decide that you’d rather take your chances on the open market, you’re going to have to make some critical decisions that will have a big impact on your ability to sell quickly. The biggest thing you’ll want to do is take a look at all of the repair and renovation needs that come with your house. There are certain ones that buyers will be able to live with but there are others that will require some serious discussions and concessions in order to close the deal on. Your job is to limit the number of those problems as much as possible.
You basically have two options when it comes to fixes in a short time period.
The first is to figure out the most important home improvement job and focus all your efforts on that. This is the damage that would otherwise kill your ability to close a deal. The kind of issue that will send buyers running for the hills. If your budget allows you to fix, or at least improve, the problem, then you’re going to put yourself in a much better position with market buyers. They might be able to look past some cosmetic issues, but they’ll need to know that the major problem has been dealt with.
Some of the big-ticket issues that come to mind for buyers that could raise a red flag include a busted roof, electrical panel problems, a broken water heater, mold or water damage, bad pipes, or a bad septic system. There are other big issues to be concerned with as well, but if you’re dealing with a damaged house with some of those issues, consider tackling the most serious ones.
The other option you have is to focus all your time and effort on the smaller issues that will up your curb appeal and make the house itself look better on the first impression. These renovations and fixes are often the least costly and easiest to do. You might even categorize many of them as sprucing up or decluttering. It might not solve all your problems but it will go a long way towards making buyers feel comfortable about your house.
Be Upfront and Honest About Everything
Whatever you do in regards to repairs, it is critical that you are open, honest, and transparent with buyers about the damage situation in your house. If you’re trying to sell the house fast, there are too many stopgaps in place that will catch out any lies or omissions, so there’s no point in trying. Plus, it’s just not good business. Honesty is important from the start.
Whatever the condition, consider completing a pre-inspection and disclosing everything found on the inspection report. It probably won’t look pretty for you, and you’ll have to adjust your asking price accordingly, but again it’s about being honest in an attempt to expedite the sale. You might as well come in lower in your initial offer to buyers as to cut out some of the unnecessary negotiations. It’s also going to be a signal to buyers looking for fixer-upper properties that they should get involved and start bidding.
Know How You Should Market Your Damaged House
If you want to sell your damaged house quickly and also maximize your profits on the open market, you’ll probably want to hire a real estate agent. Someone who has experience working with fixer-uppers and problem homes will be important as they’ll know the language to use and the ways to focus the conversation.
If you’re going to try to sell it yourself, there are some critical things you’ll need to know to ensure attracting buyers. First of all, always focus on the positives.
Play up what’s good about your house. Perhaps it’s in a great location. Maybe the lot size is impressive. Perhaps you’re close to schools, a big plus for families. Whatever angle you can find, make sure you’re mentioning it.
Price the house accordingly. Don’t waste anyone’s time here, especially yours. Understand what the market looks like right now. Take a look at online real estate resources to see what similar houses in Lincoln, Nebraska have been selling for, taking into account the different situations. Try to be realistic while also figuring out how to squeeze a few more potential dollars out of the sale.
When you write your online listing, pack it with plenty of keywords that are going to catch the eye of potential buyers. So long as they are accurate, feel free to incorporate words like “spotless,” “upgraded,” “impeccable,” “landscaped,” and “remodel.” These are all words that tend to get people’s attention. Again, don’t lie. If you can’t find a good reason to use these words, don’t do it. But if you can justify it, go for it.
Ultimately, selling a damaged house in Lincoln comes down to knowing what needs to be repaired and deciding if you want to go through the hassle of making those repairs. If you’d rather sell your house fast in Lincoln, we can make you a fair cash offer on your house and close within a few weeks. Even if your home needs a lot of work, that’s ok. We buy houses in any condition and would love to make you a fair cash offer.