If you have a property that needs work before you can sell it, the price you net for that home depends on how much time you’re willing to devote to the selling process.
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If you have a home to sell that needs cosmetic work or even some major repairs, the first thing you must ask yourself is how much time you’re willing to give the selling process.
If you tell your Realtor that your home needs a lot of work but you have a lot of time and you don’t need to sell immediately, they can help you get bids for that work and take you through the remodeling process. That process will probably take you around six months.
If you have less time to sell—let’s say anywhere from two to six months—they can list the home as-is. We work with lenders who have renovation programs and we can work with buyers to get bids up front that we’ll make part of our advertising and market that with the renovation loan package for buyers.
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The longer you extend your renovation time frame, the higher the price you’ll likely net at closing.
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If you have an investment property that was left in bad shape by a previous tenant or a home that was willed to you by a deceased parent or relative and you don’t have time to go back and forth renovating it, you might want that property sold for liability purposes in a shorter time frame (30 days). If that’s the case, we can get an as-is cash offer up front from an investor and close whenever you want. The investor will want to make sure the title report is all clear, but they probably won’t even want to do an inspection.
The longer you extend your renovation time frame, the higher the price you’ll likely net at closing. If you’re short on time, the renovation process will be easier, but you’ll net a lower price selling to an all-cash investor.
If you have any questions or you’re thinking about selling a property and you want to know it’s value, give me a call or send me an email. I’d be happy to help you.