Ready to sell your aging house? Worried it won’t sell because it needs too much work? When it comes to selling an old house that needs some TLC, competing in a crowded real estate market can be tough. But that doesn’t mean you can’t close a mutually beneficial deal that works for both you and the buyer.
To make that happen, though, you need to play your cards right. To sell an old house that needs work, you’ll either have to do some work yourself, pay to have the work done, or sell your property as-is and be prepared to take a hit on the sale price.
The real estate experts at We Buy Houses Tulsa share what your options are below.
Address the Major Defects
If you plan to sell with a real estate agent, your home will need to undergo a presale inspection. If there are any major issues with the house, it won’t pass inspection, and you probably won’t be able to sell it. That’s where taking care of the major repairs comes in.
After the inspection, you’ll get a list of any major issues that you must fix. These are typically problems like:
- Roof damage that requires repairs or a complete roof replacement
- HVAC issues
- Outdated or improperly installed electrical work
- Plumbing issues
- Pest problems
- Hazardous materials on the premises (lead paint, asbestos, etc.)
Most private buyers shy away from for-sale properties that have major issues because the necessary repairs typically require a substantial investment. Taking care of these things before you list can make your home more attractive to prospective buyers.
Make Cosmetic Improvements
If the interior or exterior of your house looks a bit haggard, cosmetic improvements can make a huge difference if the house is structurally sound and functional overall. You don’t have to do anything major here, but you can if you want.
While updating your bathroom vanity, bathtub, kitchen cabinets, or countertops typically yields a great ROI, less involved (and less expensive) improvements can also work wonders for making your home more attractive. Think about doing small things like:
- Updating interior and exterior paint
- Changing out small fixtures like faucets and drawer pulls
- Pressure washing the exterior of the house
Even investing a couple of thousand dollars into minor improvements can boost interest in an outdated property. While doing the work yourself or hiring someone to do it will require some up-front capital, making the investment can be well worth it.
Sell the House to a Cash Home Buyer
Cash home buyers are real estate investors, which means they have the ability to buy your house regardless of its current condition. Even if the property requires major repairs, updates, or renovations, a cash-for-houses company is willing to make you an offer to buy your house.
But keep this in mind: If your house needs work, the projected cost of all that work will factor into the offer these buyers are able to extend. Since they buy houses in as-is condition, they handle all the repairs and renovations after the sale closes.
After they bring the property back to life, they might choose to sell the house to another buyer, rent it out, or do something else with it. They’re investors, which means they’re looking to strike a mutually beneficial deal with you. You end up getting out from under a house that needs a bunch of work, and they end up with another property in their portfolio. It’s a win-win.
If you want to take this route, just make sure you do your research. As with any industry, there are reputable buyers and not-so-legit buyers. Here’s what to look for to make sure a cash home buyer is legit:
- Prompt, transparent communication
- Proper documentation (proof of funds)
- Both a web address (website) and physical address
- Client testimonials
- A company owner you can contact
- A listing with the Better Business Bureau
- An in-person home valuation (if you get a blind offer, run away)
Legit companies won’t ask you for money and won’t use high-pressure tactics to push you into a decision. Call around, gather information, and of course, listen to your intuition. If you feel like something might be amiss, it probably is.
Don’t be afraid to ask questions. Any legitimate cash-for-houses company will be more than willing to share information to establish trust and help you feel as comfortable as possible with the process.
Trying to Sell a House That Needs Work in Tulsa?
If you need to sell an old house that needs work but are not ready to invest the time or money to take care of repairs, let our team at We Buy Houses Tulsa help you out. We buy houses in any condition, no matter how ugly or damaged they are. We’ll offer you fair market value for your home in as-is condition and can close on your sale in just a matter of days. To find out what we can offer you for your Tulsa home, call our office today at 918-739-6777, or request a cash offer to get the process started!