You’ve come to the difficult decision to sell your house, but you realize that you are looking at a bad or ugly house. If you don’t have the extra cash to make the repairs or upgrades before selling, here are 5 tips for selling a bad or ugly house in Reno.
Tip #1: Include As-Is in Your Listing
One way to sell a bad or ugly in the Reno area would be to include the term “As-Is” in your property listing. This will signify that you are not willing to make repairs or renovations to the property before the sale, and any interested buyers will understand this. You must take into consideration that using “As-Is” in your listing will also signify that there is likely something wrong with your property and may deter some buyers, especially since you will not fix anything on the house. On the other hand, there may be investors with large enough portfolios who may not mind As-Is listings.
Tip #2: Have an Inspection and Disclose Everything!
Another tip for selling a bad or ugly house in Reno is to have the property inspected and make sure to disclose any known damage to potential buyers. Making these inspections and disclosures available on your listing will help the buyers determine how severe the repairs are and if they are willing to make the repairs if they buy it. Some properties may be so bad or ugly and in such disrepair that it is less expensive to have the structure demolished and build a new structure to the buyer’s taste. Some properties have such a great location that the land itself is worth most of the asking price and it is worth buying and tearing down the structure, especially if it is a great waterfront property or has some other fantastic feature.
Tip #3: Visually Spruce it Up
Tip number 3 for selling a bad or ugly house in Reno is to visually spruce it up. Or put lipstick on that pig. The renovations might not seem so overwhelming if the rest of the property is taken care of. This may include a fresh coat of paint, a few new flowers in the flower bed, or just simply pressure washing the property. This will help make the property look more promising and more ready to be occupied. Keep in mind the repairs or renovations that will need to be made so you don’t waste your money improving the look of an area that will just be destroyed during repairs anyway.
Tip #4: Entertain “low-ball” offers
The fourth tips for selling a bad or ugly house in the Reno area is to entertain “low-ball” offers, as much as you probably don’t want to at all. If you have added As-Is to your property listing, disclosed all known damage, and visually spruced up your property, you will most likely be receiving many offers that you feel are way too low for what you are wanting to accept. You may need to entertain a few of these offers and really take them into consideration. With amount of repairs or renovations needing to be done, you will probably not receive offers near the average market value, so you may have to sell at a lower amount than you maybe would prefer.
Tip #5: Sell Directly to a Home Buyer
The fifth and final tip which is one of the easiest ways to sell a bad or ugly house in the Reno area is to sell directly to a professional home buyer. Most of these buyers are in search of any property they can get their hands on and are willing to purchase them completely as-is. Most of these home buyers will also make you cash offers with short closing time frames. This would be the ideal buyer to go with because you do not have to work with a real estate agent, you probably won’t have to deal with a lot of showings or order inspections or do any improvements at all to your property. You will also have to be prepared to receive a lower than market value offer from these buyers since they are willing to put in all of the work and may also pay for your closing costs!