Selling a home can be stressful enough, but what if the property you want to part with requires potentially serious repairs? Will you need to spend large sums of money on improvements in order to attract a buyer? Are there any alternatives to marketing your home through a traditional realtor?
Keep reading for some useful tips that could help ensure you know what to do if you’re attempting to sell a property that needs fixing up.
Do the math
Your first step should be to do some careful calculations. If you have the financial resources to make repairs and you calculate that doing so would increase the value of your property by more than the money you spend doing the work, this could be your best option. Before making any repairs though, work out how much they will cost you and whether you will recoup more than this amount through the sale price of your home. If you’ll only break even or potentially even make a loss, the chances are it’s not worth investing in the improvements.
If it makes financial sense, approach a cash buyer [Read more…]