If you’ve got a house with extensive damage and you’re trying to sell it, it might feel like you’re attempting to do the impossible. You might assume that no one wants to buy a house in this condition and that there isn’t very much you can do to make a sale and get any money for it. However, if you’re smart in how you go about it, you can always find a way to sell a house with damage, whether that’s on the open market or directly to a cash home buyer like Cream City Home Buyers.
How to Sell Damaged Houses in Milwaukee, Wisconsin
Decide If You Want to Sell Your Damaged House As-Is
When it comes to a house with extensive damage or disrepair, your options may be limited. That’s especially true if you’re trying to sell the house quickly. If that’s the case, there really is no quicker solution than to sell the house as-is to a cash home buyer, otherwise known as a real estate investor.
The great thing about selling a damaged house as-is is that you don’t need to do anything to it in order to complete the sale. The cash home buyer will not require you to do anything to fix or upgrade the house. No need to sort out financial issues or clean up following a hoarder or bad tenants. Whatever the condition of the house right now, they will offer to buy it.
How it works is they will make you an offer based on the current condition of the property. They may visit the property in order to assess it, taking into account any repair and renovation needs. Then, they’ll make you a fair cash offer based on the house’s condition. If you accept the offer, you get to decide how quickly you’d like to close. No need to get real estate agents, assessors, or inspectors involved. They’ll hand you cash for your damaged house and then they take on the responsibility of improving it while you get to move on with your life.
If Not, Consider What You Can Fix Fast
If you decide that you’d rather take your chances on the open market, you’ll have to make some important decisions immediately that will have a huge impact on whether or not you’ll be able to sell the damaged house quickly. The first thing you need to do is assess all of the repair, cleaning, renovation, and upgrade needs currently in the house. There are certain issues that buyers will be able to live with but there are others that will require serious discussions and concessions in order to sell the house. Your job is to figure out the potential problem areas and solve what you can.
You’ve got two options when it comes to how you proceed in order to make a sale quickly. The first option is to figure out the most important repair job and focus your efforts on that. What kind of problem should this be? This is the damage that would otherwise make it impossible or very hard to sell your damaged house on the open market. This is the kind of issue that usually sends buyers running. If your budget allows you to fix or improve this issue, you’re likely to put yourself in a much better position with market buyers. Chances are they’ll be able to look past some of the smaller issues that remain if the big one is dealt with.
The other option is to put your focus on multiple smaller issues that will improve your curb appeal and give off a better first impression to the buyer. These are the renovations and fixes that are easy to do and don’t cost too much money. We’re also going to include a deep clean and decluttering in this package as that can go a long way. You’ll still have to explain the major issues plaguing the house, but at least you’ll get the chance to because buyers will be more willing to show up.
Be Upfront and Honest About the Damage
Whatever you decide to do about repairs in your damaged home, it is important that you are open, honest, and communicative with buyers about the situation and what they should expect. If you’re trying to sell the house fast, there’s just no way you’re going to keep the damage hidden. Besides, that’s just bad business, so there’s no point in lying or withholding. The third-party inspector is going to find out what’s going on anyway. Honesty is important from the start.
Something you can do to help put minds at ease is to consider completing a pre-inspection and disclosing everything found on the inspection report. It probably won’t look great for you, to be honest, and you’ll have to adjust your asking price based on what they might find, but it’s about being honest in an attempt to make a sale happen. You might as well come in lower in your initial offer to buyers as to cut out some of the unnecessary negotiations that you know will happen anyway. It’s also a good signal to buyers who are looking for fixer-upper properties so that they’re aware of your damaged house and can get on board quickly.
Understand How to Market Your Damaged House
If you want to sell your damaged house in Milwaukee quickly and also try to improve your profits on the open market, it will be a good idea to hire a real estate agent. You want someone who has experience working with fixer-uppers and damaged homes, It’s important that they know the best ways to talk about a house like yours and how to steer the conversation towards the positive aspects.
If you’re going to try to sell the damaged house yourself, there are some important things you’ll need to know if you want to attract worthwhile buyers. First and foremost, make sure that you accentuate the positives. Hype up all of the good things about your property. Is it in a good location? Is the lot size impressive and offer opportunities? Are you close to good schools or a town center? Whatever kind of angle you can find, play it up and let people see the potential.
Make sure you price the house accordingly as well. You don’t want to waste anyone’s time, especially your own. Understand what the Milwaukee housing market looks like right now. Take a look at online real estate resources to see what similar houses in Wisconsin have been selling for, taking into account the unique situations each one has. Try to be realistic while also figuring out how you might be able to get your return on investment up even a little bit more.
Finally, when you put together your online listing, make sure it includes plenty of keywords that will catch the eye of potential buyers. Just make sure they are also accurate, as you don’t want to overhype anything. Incorporate words like “spotless,” “upgraded,” “impeccable,” “landscaped,” and “remodel” if they’re applicable. Studies show these kinds of words stand out to buyers and get their attention. Again, don’t lie about anything, and if you can’t find a legitimate way to work them in, don’t do it. But if you can justify it, go for it and put your best sales hat on.