One of the biggest hurdles homeowners may face is the need to sell while being aware of the need for major repairs. As a result, you may feel defeated, wondering who will buy your home in this condition or how much they might offer.
Stop worrying. Read on to discover how to sell your Edmonton house if it requires major repairs.
List Your House “As-Is”
You can sell your Edmonton house if it requires major repairs. But, don’t forget, when you list your property, whether on your own or with a traditional real estate agent, there is no guarantee of when or if the agent will sell the property.
And don’t count on the asking or list price being your final sales price; bargain listings usually receive rock bottom offers, which often leaves homeowners feeling insulted. In addition, once you subtract the commissions, fees, marketing, and all of the hidden costs that accompany working with real estate agents, there may be little to no profit remaining for you at closing. On the other hand, when you work with the direct buyers at Sunrise Home Buyers, there are no commissions. They will outline what you would receive with a direct sale or if you decide to work with an agent so that you can make an informed decision.
Touch Up and List
Another relatively inexpensive way to sell your Edmonton house is to do a cosmetic makeover making it more attractive to buyers. These types of renovations often involve painting the home and maybe doing the flooring as well. Speed and simplicity are the keys here.
Some quick and easy updates with reasonably little money will freshen the overall curb appeal to show the potential. People looking for homes may be more willing to become buyers for your Edmonton house if it requires major repairs. Because it costs money to hold onto the home, such as any mortgage payment, taxes, and monthly utilities, your best option is to ask your agent their average time for a home that needs repairs to be on the market.
Typically, homes in disrepair are considered bargain properties, tending to remain on the Edmonton real estate market longer than ready to move into properties. You’ll need this information when you begin to add up your costs to sell the property, pay commissions and fees to your agent, market the home, and pay holding costs.
Invest in Repairs and List
If selling your Edmonton house requires major repairs, you could complete the renovations and sell the house for full market value. However, your estimates for the costs must be realistic, and it is prudent to attain at least three estimates from professionals for the repairs. If an unforeseen issue comes to light, you should have additional funds above the total estimate available.
You also need to know the time to complete all repairs. And you need to ensure you can find an available contractor that is trustworthy and competent.
Carefully calculate the viability of making the repairs against the property’s value after deducting all expenses, including holding costs. An experienced investor like the direct buyers at Sunrise Home Buyers can help you feel confident about moving forward with the repairs.
If you do plan to list your Edmonton home on the MLS and hire a contractor, make sure you take the time to research and vet them.
Sunrise Home Buyers
Working with Sunrise Home Buyers is the easiest way to sell your Edmonton house for the most money if it requires major repairs. You don’t need to clean for showings or touch up the property because Sunrise Home Buyers buys homes as-is. Before making an additional investment repairing a property you no longer want, why not consult with an experienced professional from Sunrise Home Buyers. The direct buyers at Sunrise Home Buyers will go over every number used to develop an offer you agree is fair. Even better, Sunrise Home Buyers can close in a matter of days or delay the closing for a date that works for you! To learn more ways Sunrise Home Buyers can help you, send us a message or call Sunrise Home Buyers at (587) 982-7576.