If you’ve recently inherited an old house, or if you own a house that has suffered extensive damage due to a fire or flood, selling it can be pretty challenging. Many realtors will charge hefty fees, and banks may turn down buyers looking to take out a mortgage on it. Even realtors who will work with you may try to lowball you, giving you offers well below your home’s true worth.
Fortunately, selling a house in poor condition is still achievable – if you know who to sell it to. Here’s how to sell your house in poor condition in Texas.
Can You Sell Your House in Poor Condition?
Yes, you can sell a house in poor condition as-is, whether it has foundation issues, infestation problems, black mold, or other issues. Houses in poor condition will usually sell for less, but many people are still interested in buying them.
It’s not that hard to find a real estate investor willing to remodel your fixer-upper and take care of needed repairs. They can sell it for more later, so they get a good return on investment.
How to Sell a House As-Is in Texas
Selling your house as-is in Texas when you have plumbing problems, termite infestation, or roof damage is all a matter of finding the right prospective buyers. There are some small things you can do to increase your home’s market value. Typically, you have the following options to choose from when selling a home as-is.
Minor Repairs to Your Home
If you don’t have a lot of money, making minor repairs can make a big difference. For example, if your light fixtures are broken, fixing them and installing new lights can instantly make your home look more bright and appealing. If your faucets are broken, installing new ones won’t cost much money.
Minor cosmetic repairs like fixing the front gate or getting a landscaping company to mow your lawn can also enhance your building’s curb appeal. You can prune the trees, plant a few flowers, and clean your windows. A quick fix-up before selling a house is a must if you have no foundational damage, but your house looks unsightly.
If you do have foundation issues, minor and cosmetic repairs still make a big difference. They make your home look more attractive, and more buyers will consider it as an option.
Major Repairs on Your Home
If you want to sell your home for a higher price, you will need to do a lot more than minor repairs. Major repairs may be in order. For example, you may need to clean and repair your HVAC system, installing new HVAC filters. If your house has foundation issues, you will need to make some significant renovations.
Old homes with electrical issues may require a lot of safety upgrades. You may need to install a new water heater to make your home livable. Old water heaters lack modern safety features and can be dangerous.
The problem with major renovations is that they can take a lot of time and cost a lot of money. You may not have the funds for that, and you may need to move to a new place and get rid of your home quickly. Furthermore, you will have to be thorough with your repairs, especially if you expect the bank to send a home inspector before approving a mortgage.
Banks do this because they want to ensure your home is livable and worthy of sale. The buyer might cover the cost of the bank’s home inspection. Despite that, you should probably get a home inspection done first, which you will pay for. That way, you won’t see any surprises in the bank’s inspection report.
Selling a home with asbestos is even trickier. Remember, many older homes contain asbestos. While federal law does not require you to disclose the presence of asbestos in a home you sell, state and local laws vary. It can easily cost thousands of dollars to remove the asbestos from your home.
Give Your House a Lick of Paint
If your house looks shabby due to peeling paint, simply giving it a lick of paint can improve its curb appeal. You can immediately boost your home’s value by painting both the inside and outside. For example, an outdated kitchen may no longer look outdated if you paint over the cabinets.
A new lick of paint will raise your chances of snagging a buyer at open houses. Nevertheless, it won’t fix deep foundational problems that will be revealed in a home inspection.
Selling A House As-Is in Texas
Despite common belief, selling a house as-is in Texas does not have to be tough. You can get a cash offer – you just need to know where to go. Here are the top tips for selling a house in poor condition in Texas.
Sell Your House As-Is to a Cash Home Buyer in Texas
Cash home buyers in Texas will be glad to purchase your home as-is, regardless of market conditions. However, there are a few types of cash buyers. Some cash buyers operate individually. The problem with these buyers is that they may try to give you a lower offer.
That is why it is better to work with a professional company that buys houses with cash. Companies that buy houses in Vermont with cash know exactly what they want. They can give you a fair offer fast, regardless of your home’s current state. You won’t have to bother with the hassle of getting an inspection report, and you can avoid the usual closing costs.
Sell Your House to an Investor
Many investors are professional flippers. They may or may not own a company. Sometimes, they operate individually. Regardless, however, these investors know that they can buy a house with damage, make the needed repairs, and sell it later for more.
Sometimes, these investors seek out areas with up-and-coming real estate markets. They calculate that the price of a home will rise in the upcoming decade, and they decide to buy cheap houses that they can repair, rent for a few years, and later sell.
Other investors simply calculate the cost of making the repairs and realize that by restoring the building and improving the curb appeal, they can sell it for a lot more profit than what the repairs will cost. While you might not have the capital to make those repairs, these investors do.
The problem with this method is that not all investors are honest and trustworthy. Some may be unscrupulous, giving you a bid well below what you can get, even for a house with structural damage. Others may present themselves as professional investors, but they may be amateurs who are not serious and who delay the sale unnecessarily.
That’s why it’s always better to work with a company that is accredited by the BBB and has an excellent rating.
Selling Your House with a Realtor
Selling your house with the help of a real estate agent is always an option. It’s not the best idea if you need cash fast. That’s because selling through a realtor often involves various documents and middlemen.
Contrary to popular belief, using a realtor isn’t always the best way to market your house. It might land you a slightly higher offer, but is it worth it? Many realtors will require you to fix up the damage entirely, which can cost you a lot out of pocket.
Many realtors, on the other hand, are now footing the bill for renovations and repairs upfront. However, they still deduct the cost of those renovations from the final price once the sale is closed. Some may even charge interest on this “loan.”
Selling a house through a real estate agency always involves additional closing costs. However, selling a damaged home will almost always come with even more fees. At the end of the day, the higher offer might not be sufficient to justify the extra hassle and delay that comes with selling through a real estate agent, once you account for the cost of renovations.
Moreover, many realtors charge hefty commissions when dealing with homes with structural damage, as they know you have fewer options available. That’s why it’s best to sell your house without a realtor and work with cash buyers instead.
We buy houses in Dallas, regardless of the current condition of the house in question. It doesn’t matter how long it’s gone without anybody living in it or how much deterioration it has sustained over the years. Feel free to reach out to us and request a quote.
We use a simple, streamlined process designed to make your life easier. We will provide you with a fair, no-obligation offer after assessing your home.
We will discuss your options with you, and you can then choose a closing date that works for you. Our company works quickly, and we’ll be ready in seven days or less. We can also help you list your home for sale in Texas instead.