Can I Sell My House As Is In Syracuse NY Or Do I Need To Fix It Up?
When it comes time to sell your home, homeowners are usually in 2 types of situations.
The first situation is that the homeowner has been able to maintain and update the property throughout the time they have lived in the home.
The second situation is that the homeowner has had trouble maintaining the home due to any number of reasons and the home is not in great condition.
Well if you fall into the second category do not be alarmed because about 65% of homeowners are either forced to make updates/repairs prior to a sale or they decide to just sell their property as is in Syracuse NY.
If you find yourself in this situation, be assured that there is no reason that you will not be able to sell your property, if you:
Make buyers interested
Target the right home buyers
and maybe, just maybe make some minor repairs
Let’s find out what we can do to increase the odds that we can find a buyer for our property that is in AS-IS condition.
We Need To Make Buyers Interested When Selling Our House As-Is
Our main goal is to get a buyer or multiple buyers interested in your property. Now everyone's situation will be different based on their homes location, level of renovations needed, current market conditions, local amenities nearby, school district etc..
1) Consult A Professional In Your Market - You want to get the opinion of a professional in the real estate business, so they can inform you of how they feel in regards to your specific situation. Whether you choose to consult with a local real estate agent or a real estate investment firm, you will be able get a free consultation on your property to give you a better understanding the status of your property.
2) Understand What Absolutely Has To Be Done - If you plan on selling to a homeowner who is going to receive lender financing you will have to make certain improvements to ensure that your property is up to code. This is due to the fact that these homeowners have inspections done on the property and lenders will not lend on properties that are not up to code. If you are not interested in making any repairs, a simple solution will be to sell your home to a real estate investment firm. These firms require that you make no additional repairs and there will be no contingencies in the contract.
3) Understand Your Competition - Hopefully your consultation will clarify the competition that is on the market. If not, then go to some open houses in your area. Take a look at what these properties are selling for and also what condition these homes are in. This will give you a better idea of what you will be able to sell your house for or if you need to discount your property further for a successful sale.
4) Implement a Plan For Responding To Low Ball Offers - Every single offer you receive is negotiable. Do not get defensive when/ if you begin to receive low ball offers on your home that is being sold as is. You need to use this offer as a starting point in the negotiation process. At this point we want you to have a specific sales price in mind that you are willing to sell your property for so you can try and come to an agreement from these low ball offers. Remember that any offer is better than no offer and this means that buyers are at least interested in your property. .
5) If Not Repairs, Focus On Making The Home Clean - One thing that will rub homeowners the wrong way is a cluttered or bad smelling property. In most circumstances, the first impression of your home will be a big determinant of if the buyer will move forward with your property. So make sure that if your house is not in the best physical condition, to make up for it by making your home smell good and being extremely clean. This will increase the odds of selling your home as is tremendously.
Who Will Buy My House In As Is Condition
This will completely depend on the overall condition of the property, current market conditions and the location of the property.
In general, homes that are being sold as is will attract two types of buyers. These buyers are:
First time home buyers - who are looking for a low priced home, do not mind doing improvements and who have not been approved for enough money for their dream home
Real Estate Investors/Firms - Individuals who will be interested in purchasing your home, making the necessary repairs and then reselling that property for a profit or renting the home out.
When selling your property in as in condition, your buyers pool does become limited. This is due to the current buyers market. More and more home buyers are looking for turnkey, move in ready properties with all the updates already included in the sale. Not many homeowners want to purchase properties where there is a large degree of repairs that are needed on the property. If your property only needs some light cosmetic repairs done, your buyers pool will expand as homeowners are more willing to put offers on properties in this condition.
When dealing with a real estate investment firm, we want you to understand that these individuals will be looking for a discount on the property. If you are in a situation where you just want the property off your hands or have been forced into a position where you need to sell, these firms do offer amazing terms that will benefit homeowners who have homes in poor condition. These terms include:
Closings on your date of choice
Pay no real estate commissions
Pay no closing costs
No contingencies/ inspections
No improvements/ repairs
Reduced holding costs
If these terms appeal to your specific situation, you should contact a local real estate investment firm to discuss how they can help you.
Minor Home Improvements Before Selling Your Home As Is
If you do decide to list you property through a real estate agent, it will be a good idea to make some minor, cost efficient repairs to your property to increase your odds of a successful sale.
We understand that you are selling your home as is for a specific reason and you do not want to make any costly repairs. Here is a quick list of ideas that you can either do yourself or hire out for very little money.
Light Patchwork - Repair all holes in ceilings/walls
Tear off wall paper/ paint room neutral color
Repair leaky faucets/sinks
Clean/replace old carpet
Fix code violations
These are minor cost effective repairs that homeowners can make to increase the chances that they sell their property as is in Syracuse NY.
In Closing | Can I Sell My House As Is in Syracuse NY
So now we understand who are buyers will be, tips to intrigue our buyers and some minor home improvements that we can make to sell our property. The two options that we have to sell offer unique advantages depending the current circumstance of the owner. Make sure you understand the benefits of both options and choose the option that will work best for you and your family.
With that being said, if you are looking for reliable real estate investment firm who will be able to purchase your property in cash and be able to close on your schedule, all while paying no closing costs, commissions or making any additional repairs, be sure to reach out to us. We would love to help in any way possible.
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