How To Sell A House That Needs Repairs In NJ
Selling a house that needs repairs makes it difficult to compete. New inventory hits the market every day in New Jersey, so your traditional buyers will likely never see a home needing repairs unless they are in the market for a fix-it-upper.
Homes in need of repair often go unseen because a lot of traditional buyers want a house that is move-in ready, and your house will go to the bottom of an ever-growing list of homes to view.
With that being said you have some options, and we are here to help you.
Option #1 Total renovation
The total renovation option will cost the most money and take the most time. However, it is also the option that could make your house sell faster and put more money in your pocket. Most of the time, when buyers are buying a home, they are not looking for a place that they need to fix up. They want a house that is ready for them to move into.
If you are going to make repairs and upgrades in your house, you need to know what repairs and upgrades to make. Look at recently sold houses and houses that are on the market to determine what is the trend is in your area. Note: Call at least 3 contractors to give you an estimate on the updates make sure they are licenses, ensured and ask for references.
Option #2: Repair Only The Major Items In Your House
In some cases, you do not need to make repairs to the entire property. You can repair only the most important and expensive items on the repair list. A new roof, foundation, re-piping, a new HVAC system, and electrical work are a few of the large expense items that may be on your list, by making those repairs will likely increase the value of your property. Buyers do not want to buy a house if they have to take care of large repairs right away.
If there are big repairs needed, you can expect that the buyers will be negotiating for you to do the repairs or lower the price.
Option #3 Do It Yourself (DIY)
Do it yourself (DIY), option not all repairs are going to break the bank or take up a lot of your time that. You may be able to do some repairs on your own. They could be some very simple things such as paint, patch holes, or change appliances you get the idea. You can find some low-cost and easy ways to repair or replace “little things” around the house that can help make it easier to sell.
Option #4: Sell Your House “As Is”
Sell as-is option, if you do not have the time, money, or patience to make any repairs to the house at all, you could always sell it “as is”. You will let the buyer know about all of the repairs that need to be made to your home and they have the option of buying the house as-is.
This means that you are selling your house at a discount price. Whether it is an individual buyer or a company that buys houses for cash, they need a low price since they will be the ones assuming all the risk of repairing the house. Still, there are benefits to selling a house in as-is condition. You will not have to incur the costs of repair, manage the renovation, and in most cases, you will not have to pay realtor fees. In the end, selling your house as-is will oftentimes be the easiest way to sell fast and start a new journey.
We Buy Houses That Needs Repairs In New Jersey
If you are thinking about Option #4, please give us a call or fill out our short form. We buy houses in New Jersey, and we specialize in buying houses that need repairs and can explain how the process works and schedule a time to meet you out at your house. Afterward, we can give you an offer to buy your house for cash in “as-is” condition. You don’t even have to clean it.