There are plenty of horror stories about all kinds homes that simply won’t sell – whether that’s due to pricing problems, location, or the house itself. But here’s the good news: every house has a buyer.
Here are a few of the more challenging homes we’ve seen – and successfully sold. Plus, a few tips on how you can find a buyer for your seemingly hopeless home!
Pay attention to location. You hear it over and over again, but it’s true: location is the single most impactful factor that goes into the value of a home or a piece of land. In fact, we frequently see properties sell because the location is so desirable – and the buyer tears down the existing structure in order to build something new on the property.
On the other hand, some locations have little to no value – and can even be seen as a liability.
This home might not look like much, but it sits on a secluded, green piece of land that backs up to pasture.
Be realistic about weather damage. This property had some pretty serious weather damage, but here’s the thing: damage is not a dollar-for-dollar issue. If you’re trying to sell property that has suffered significant damage (and sometimes even minor damage), know that your buyer will expect a discount that’s greater than the cost of repairs. Buyers know that weather damage makes properties tough to sell – so they’re looking for a real deal.
This is a great segue to another issue: try to understand where your buyer is coming from. A buyer that wants a move-in-ready property won’t give your “needs TLC” property a second glance. But a buyer with a bit of time and some DIY sensibilities will see the value in a home that’s in less-than-ideal condition.
Distinguish the costly issues from the minimal ones. One of the most common flaws that we see deterring buyers is foundation damage. Not to minimize the significance of foundation issues, but often they’re just not as crazy as you’d think. The repairs can be completed quickly and cost-effectively. The real issue is knowledge: the buyer needs to know the nature of the problem and how it should be fixed. (We do a lot of re-education around here!)
There’s no magic pill for getting a home sold.
Remodeling the kitchen and bathroom can help, sure, but there’s no instant fix to make a home sell instantly. Clean up the house, remove as much clutter as possible, make sure it smells nice inside (and outside!), and – most importantly –price the house correctly.
If you’re trying to sell a home or property, remember: there’s no magic pill. Knowledge is your most powerful tool. Know the property’s value and price it accordingly. Know the condition and the cost of any necessary repairs. There really is a buyer for every home and piece of land – it’s just a matter of knowing what someone else would be willing to pay for your property. Call us today if you have any questions about us or our process of buying your home.
This is a great segue to another issue: try to understand where your buyer is coming from. A buyer that wants a move-in-ready property won’t give your “needs TLC” property a second glance. But a buyer with a bit of time and some DIY sensibilities will see the value in a home that’s in less-than-ideal condition.