Selling A Home That Needs Work

Before putting a home on the market, most sellers undertake some repairs and renovation projects to make the property more attractive to buyers; a fresh coat of paint, a thorough cleaning, replacing a cracked window or a wobbly door knob. Sometimes, however, there is a big project, such as a new roof or an overdue kitchen reno, that the seller is unwilling or unable to undertake before listing. If your home falls into this category, never fear. It is possible to get a competitive price for your home even if there is work to do. It is all part of the negotiation.

Many buyers are unintimidated by a renovation project, as long as they can purchase the home for a reasonable price. The important thing is to be up-front about necessary repairs in your disclosure materials. This will show the buyer that your are serious about selling and you are an honest and trust-worthy negotiating partner. If your home needs a new roof or furnace, you may consider getting a few estimates for the work and providing that information to prospective buyers; they will appreciate the transparency. If you suspect that your home requires more substantial renovations, you might invest in a professional inspection, like the one your buyer will ask for, so that all your home's secrets are revealed and you have the detailed information you need to list your home at a competitive price and anticipate hoe much you might have to adjust that price in negotiations.

To position your fixer-upper competitively in the marketplace, you must give it the same TLC recommended for any home on the market. Cleaning and decluttering demonstrate that you are a motivated seller and have respect for the visitors to your home. You can highlight your home's attractive features, such as fancy woodwork, a fireplace, hardwood floors, a landscaped yard, or an excellent location. Some strategic and thoughtful staging will highlight your home.