Stern Market Minute: Selling A Home That Needs Work?
Channel: The Stern Team | KW Salt Lake City Real Estate
Date: 2023-02-09

Selling a home that may need some work can be a daunting task. You want to make sure you get the most out of your sale, and you want to make sure potential buyers are aware of the work that needs to be done. Thankfully, there are some steps you can take to make selling your home with repairs needed more successful. Let’s take a look at what those steps are.

Get an Pre-Inspection: One of the first things you should do when you’re preparing to sell your home is getting an inspection from a professional. This will give you an idea of what needs repair and it will also help potential buyers understand exactly what needs to be addressed before they purchase the home. Knowing this information upfront allows for more accurate estimates for repairs as well as more realistic offers from prospective buyers.

Understand Your Buyer: One important thing to consider when selling your home is understanding who exactly is going to be purchasing it. For example, if you know that flippers, remodelers, or deal hunters will likely be looking at your house, then they will likely offer less money but they could complete renovations quickly and efficiently which could result in more money for you in the long run. Understanding who is likely buying your house can help inform how much money you expect out of the sale as well as how quickly it might happen.

Price Realistically: When pricing your home, don’t forget that it may need repairs so pricing too high could scare people away and pricing too low could mean leaving money on the table. It’s best practice to price realistically so that buyers know what exactly they are getting into before making an offer. This way, there won’t be any surprises when it comes time for them to get ready for closing day.

Highlight the Positives in Marketing: When marketing your home online or through open houses, focus on highlighting all of the positives about it rather than just harping on its flaws or needing repairs. Show off all of its best features like recent updates, appliances included with sale, unique characteristics etc… This way buyers can appreciate all that comes with purchasing your property even if some work needs done here and there!

Focus on Repairs and Work Worth Doing: Lastly, think about little repairs or upgrades you can make that would really impact how buyers perceive your property without breaking the bank! Small touches like fresh paint in certain rooms or replacing carpets can really go a long way towards making buyers feel welcome when viewing your property during open houses or showings! On top of small touches like these, ensure any major work needed is completed before putting up for sale; this includes anything from plumbing issues to electrical fixes! If potential buyers come across these issues while viewing their purchase they may back out of negotiating which would ultimately waste time and resources! So focus on repairing only necessary items prior to selling! If you need suggestions, check out our video that we did about the upgrades that will make you the most money here.

Selling a home with repairs needed doesn't have to be a stressful process; by following these steps above you'll find yourself better prepared when going into negotiations with prospective buyers! Make sure you get an inspection done prior so everyone understands the condition of the home and then focus on highlighting all positive aspects while completing any necessary repairs before selling! Doing this ahead of time will save everyone involved time, stress, and ultimately lead towards a successful sale for all parties involved!

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