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Is it possible to sell a house that is badly in need of repairs? Can you just list is as is and let the buyer fix it up? Of course, the value would not be as high in such a case, but would one like that even sell? What about companies that buy "ugly houses"?
What about a home that needs a new roof, screen porch repair, new doors, interior paint, flooring, and bathrooms? I inherited one, and I need to move it. I don't want to fix it up.
What about a home that needs a new roof, screen porch repair, new doors, interior paint, flooring, and bathrooms? I inherited one, and I need to move it. I don't want to fix it up.
If you're not repairing/replacing the roof, you're looking at primarily cash-only investors, so hopefully your location is prime. Selling as-is, you obviously won't get top dollar nor even close to it; the condition you're describing, you're looking at 40-50 cents on the dollar, provided your location is great. If not, it will be considerably less and you'll likely carry it for quite a while.
The location is prime, and the roof is good. It just has parts that are not the same color. A roofer had to replace the ridges and the shingles are not faded as much as the others. No leaks or anything.
The location is prime, and the roof is good. It just has parts that are not the same color. A roofer had to replace the ridges and the shingles are not faded as much as the others. No leaks or anything.
Well, that does make a bit of a difference, in terms of opening up the buyer pool a little. The main thing is to recognize you have to sell at a significant discount so you want to price the house accordingly.
Of course you can sell a house "as is." The buyer will have his inspection and may back out if he doesn't want to foot the cost. As already stated he will probably be a cash buyer -- an investor -- who wants to fix it up and "flip it." I suspect it's unlikely that anybody who needed a loan would qualify, and the appraisal would probably kick the mortgage application into the trash.
As an investor myself, I'd love to buy your property if it was near my area and in my price range. I'd hire contractors, do some of the work myself and have it back on the market two months later for your price plus about twice or 2-1/2 times my cost to fix it up.
You know, a really good flipper would have their own Realtor's license.
Of course you can sell a house "as is." The buyer will have his inspection and may back out if he doesn't want to foot the cost. As already stated he will probably be a cash buyer -- an investor -- who wants to fix it up and "flip it." I suspect it's unlikely that anybody who needed a loan would qualify, and the appraisal would probably kick the mortgage application into the trash.
As an investor myself, I'd love to buy your property if it was near my area and in my price range. I'd hire contractors, do some of the work myself and have it back on the market two months later for your price plus about twice or 2-1/2 times my cost to fix it up.
You know, a really good flipper would have their own Realtor's license.
Too bad you don't live near this house. It is in a booming area...one of the top in the nation in growth.
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