Are you thinking about buying a house in Lincoln, Nebraska? There’s a decent chance that means you have to sell your current house first. You might have a problem on your hands, though. Your current house could be in need of some serious repairs. Perhaps there’s some damage in the basement or up on the roof. You might be dealing with the long-lasting effects of mold, termite, or water damage. The house you own might be lived in by hoarders or squatters. Or your house may have simply fallen into disrepair and you feel as though you’re out of options.
Market buyers are often wary of fixer-uppers and problem properties, so it’s important to follow specific steps if you decide to sell your house that way. Not to mention that you’ll likely hire a real estate agent who is going to take a big commission fee. While you can also choose to sell your house as-is to a cash home buyer, here’s how to sell a house that needs repairs in Lincoln, NE.
Tips On Selling A House That Needs Repairs
Repair What You Can
If you are selling a Nebraska house that needs repairs on the open market, you are going to need to know that most buyers don’t want to buy a property that will require work. Only some people want to buy a house with busted pipes or warped floors. Even just knowing the faucet is leaky or the garage door is broken can be enough to send market buyers scrambling.
Costs accumulate quickly in a house in need of repairs. The most important thing you can do is prioritize your repairs based on cost and overall value to buyers. Then, figure out what you can afford to fix that will make a difference. You should also consider what you’re willing to pay for upfront based on the hope that you’ll be able to recoup that cost later on in the sale. There’s no reason to waste your time fixing things that buyers don’t care about.
If you’re dealing with mold, water, or termite damage, chances are that you’re better off having an expert come in and deal with that. If you don’t know what you’re doing you could make things worse or miss the real effects altogether. And if you’re no expert on structural issues or landscaping design, don’t get in over your head trying to help. You might end up putting yourself in a much worse position than when you started.
Get Your House Inspected and Appraised
It’s important to make sure you understand the true value of your house in need of repairs. If you want to sell your Lincoln house with a real estate agent, they can give you an analysis that breaks down your home’s market value, determined by recent sales in the area. Depending on where the house is located in Lincoln, coupled with the current state of the market and other factors, you’ll be able to see how your house fares.
With a home in need of repairs, you should also consider getting it professionally inspected and appraised before you list it on the open market. The potential buyer and their lenders will want an independent third party to provide an assessment before they approve the loan and make the purchase. Inspections and appraisals can give buyers some peace of mind when it comes to buying a house with repairs. Plus, you don’t want to lie or hide facts. That’s bad business and it can get you into legal trouble if the buyer or lender feels as though you’ve sold them a false promise.
Consider Curbside Appeal
One of the most important aspects of selling a house that needs repairs on the open market is curb appeal. Once your house is listed and the “For Sale” sign is propped up on the front lawn, potential buyers are going to start driving past the house to get the first look. You don’t want to give them any reason to drive away.
It starts with little things. Make sure the lawn is mowed, the garage looks clean, the landscaping is tidy, and you’ve got a fresh coat of paint on fences. You really want to show off the full potential of your Lincoln, Nebraska house in need of repairs. If you have the means and the time, work on the landscaping and consider a fresh coat of paint on the house, or at the very least a powerwash. The point is to make the exterior so appealing that they need to see what the interior looks like.
The Price is Right
You might have a very clear idea of what your house is worth but that means nothing to buyers. They want the house that exists in their mind and they’re going to use the current condition and look of your house to determine the value in order to get there. Since you’re selling a house in need of repairs in Lincoln, you’re competing against a lot of newer homes with modern features, which can put you at a disadvantage.
Setting your price correctly is a critical step. Price too high and you’ll scare off most of your potential buyers. Price too low and you’ll make people wonder what’s wrong. It’s a little bit of science, a little bit of art, and a little bit of luck.
Hire a Photographer & Home Stager
The home buying process begins online for most market buyers these days. It’s critical to hire a professional photographer who knows how to make your house really stand out from the crowd. You also want to consider a home stager to come in and create a vision that buyers will find more appealing. Staging often requires the house to be depersonalized, which means saying goodbye for now to family photos, memorabilia, and keepsakes. Consider a storage unit to keep these things in for the time being.
Sell Your Home As-Is
As you can see, trying to sell a home in need of repairs on the open market in Lincoln can is full of time-consuming requirements and ever-climbing costs. You’re competing against so many houses in better condition and buyers are going to hesitate when it comes to taking over the problems that currently exist. And even if you do everything exactly right, there are no guarantees you’ll sell on the market. Your house could sit there for months.
Another option you have is to sell your home that needs repairs as-is directly to a cash home buyer like Element Homebuyers. The best part about doing this is that you won’t need to bother with any repairs. You can sell the house exactly as it is and you don’t have to clean up, fix anything, or lift a finger. We will buy your house for cash in the condition it’s currently in.
All you have to do is reach out to Element Homebuyers and we’ll start the process for you without any obligation. We’ll take a look at your Lincoln property in need of repair and give it a thorough assessment. Then, we’ll make you a fair, no-obligation, cash offer. If you choose to accept the offer, you move forward and close the deal, often within days. You get cash in your pockets and, more importantly, don’t have to deal with your house in need of repair anymore. Contact us today to get started!