Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm a bit confused by your post. Are you asking if you can use someone else's money to do all of the updates and then sell the house to get the profits? If you don't have the cash, you could look at a HELOC to pay for the repairs. I have, on occasion and for very specific homes, done the updates for the sellers out of my brokerage account and then they paid a much higher commission as part of the costs for doing that so that they could net more.
No I have my own money.
I'm just trying to get ideas about options if I wanted to get out of this house quickly.
I've got a full time job, have money. Really was just wondering if there were crews out there that you could hire to quick get a house in order, like these companies that buy homes for cheap and then have their people come in and clean these homes up so they can sell them.
Because plywood is not flooring, it's sub-flooring. If you were missing a couple of panels of sheetrock for the walls, would you paint the studs to make it look better? Why ask for advice when you already made up your mind what you are going to do?
I haven't made up my mind on that. That's why I asked.
My cousin said I could do it but I thought it was a stupid idea.
He might have suggested it because there are a few small areas that I had to paint with KILLZ, because of cat pee and pooh.
So I get that it's sub flooring and not a finished product, but there are some areas of it that got painted/treated with KILLZ (or whatever it was that we used)
Because plywood is not flooring, it's sub-flooring.
And the walls are not finished all the way down to the subflooring, meaning you have a gap at the base. You should cover the exposed subfloors. Exposed subfloor has seams and can easily de-laminate on the edges, creating splinters and uneven spots as potential trip and fall hazards.
You can rip out the old carpet and pad and dispose of it yourself and that will reduce your costs where you need to replace carpet.
Scraping and preparing outdoor side of window frames--and probably need caulked--the actual paint is the easiest part of the job.
I make my own cabinets. I have rehabbed cabinets. If you have painted cabinets, you can easily prep and repaint. If you have sagging shelves, broken drawers/slides or loose doors, the job gets more expensive.
Generally, the people with the "We Buy Ugly Houses" people are usually flippers that are looking to get a good deal of houses that don't have any major problems, but can be worth a lot of money with a little cosmetic work.
If you want somebody who does the same thing but you get to keep the money, just hire painters and remodelers. If the house has any serious problems that would be expensive to fix, the "We Buy Ugly Houses" people won't want your house anyway.
Just call some local remodeling companies for an estimate on what it would cost to fix it up.
Of course, with the current housing bubble, I'm seeing bidding wars on fixer-uppers, even ones in bad neighborhoods. There are bidding wars on fixer-uppers that most flippers would have skipped on a couple years ago. (This might be due to the increased number of people who are buying houses over the Internet without actually seeing them first.)
Fixer-uppers are in such high demand right now that you will probably get offered a better price for your house as-is than you would make if you pay somebody to fix it up first and then sell it. Maybe you should ask a couple realtors to look at the house and see what they think it would go for in its current condition?
It depends on the community. Where I live people want move in ready. It needs to look like a new house. Where my daughter lives in FL. the house get more per square foot than here if they haven't been touched since the day they were built.
Does your town have a real estate site where you can look at the pictures of all the houses on the market, the sale price, and when sold what they sold for? Houston has HAR.com. There is always Realtor.com. Go to every open house and check out the market. Talk to a couple agents who sell in your neighborhood.
Is there anything the inspection will ding you for? I'd get an inspection, do all the repairs that will show up on a potential buyers inspection. Buyers will use it to get the price down and/or be a deal killer.
The plywood would be covered by a new owner either way, right? What difference would it make if I threw a coat of paint on it?
(No need to be snarky, btw. I'm not here to troll anyone or start fights.)
Th
I'm not being snarky at all. Potential buyers looking at painted plywood would, in most all cases, regard it as tacky and cheap. They would look at it as something that HAD to be covered up, whereas new carpet, even an inexpensive but decent grade of carpet, could possibly pass muster enough with first-time buyers that they might keep it for a while until they could afford something better. Frankly, if I saw painted plywood in a house for sale I would wonder what other things the seller had "cheaped out" on.
I'm not being snarky at all. Potential buyers looking at painted plywood would, in most all cases, regard it as tacky and cheap. They would look at it as something that HAD to be covered up, whereas new carpet, even an inexpensive but decent grade of carpet, could possibly pass muster enough with first-time buyers that they might keep it for a while until they could afford something better. Frankly, if I saw painted plywood in a house for sale I would wonder what other things the seller had "cheaped out" on.
Heck, a lot of buyers here on CD say, "Let me pick my own flooring."
The issue is more pressing when one realizes that finished flooring will be required by most lenders.
Is there anything the inspection will ding you for? I'd get an inspection, do all the repairs that will show up on a potential buyers inspection. Buyers will use it to get the price down and/or be a deal killer.
Interesting (and possibly good) idea about getting an inspection beforehand to find out what you don't know, if it's major. However, we just finished selling a home. The first buyer's inspection showed up very minor things, but then a roofline that had a huge crack that showed from the inside of the attic, and ran all along the top wall. You could see daylight from inside the attic, according to a picture by the inspector. The buyer backed out. We later went up and inspected ourselves to see what we could do and found the so-called crack was in fact a vent system that ran under the eaves and all along the top wall, which the inspector would have seen if he had gone up into the attic and not stayed down at the bottom of the pull-down stairs to do his inspection.
The second buyer's inspection said nothing about the roof vent but concentrated on a million small electrical problems, because this inspector was an ex-fireman and this is their field of interest and knowledge. Both of them missed a piling that was rotting (and which was slated to be replaced by the HOA).
So I guess I'm saying you can't be sure you're catching everything if you do pay for an inspection. They have to find something, after all, because that's why you hired them. But none of them are perfect.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
