How to Sell Your Home for Cash at a Fair Price without Major Repairs

You have a house you want to sell, but you don’t want to spend big bucks on repairs. If you’re going to sell a home without paying a lot of money, you will want to sell during a seller’s market. Good News!

Most of the United States is in that type of market right now. Colorado Springs and El Paso County are one of the hottest markets in the US.

First, you must consider the type of buyer you want to attract.

The three most common types of home buyers are:

1. Retail buyers
2. Fixer-upper buyers
3. Investors

Each buyer requires a different approach to preparing the house to sell. Each type of buyer will buy at various price points. Retail buyers buy at the highest price point, with fixer-upper and investor buyers paying less, respectively.

Retail buyers – are looking for a house they can move into with a few repairs as possible. If your house needs significant repairs or updating, the retail buyer will be hard to attract. If your home is in good condition and does not need substantial repairs, you can do a few upgrades to attract a retail buyer.

• Upgrade the fixtures in the house. New lighting fixtures and faucets make the house look modern. This can be done inexpensively and adds value.
• Paint the interior of the house. Exterior also if needed. Use attractive neutral colors. Do it yourself if you are on a tight budget. Painting is time-consuming but not rocket science.
• Do some light-duty Landscaping. Add colored mulch and trim up those shrubs and trees. Outside curb appeal says, “come on in and check me out” to a potential buyer.
• If the kitchen is outdated, you can add new appliances and countertops. Painting or refinishing older cabinets can be done relatively inexpensively. The kitchen is one of the main focal points and should sparkle.
• Bathrooms can be updated by adding new toilets and fixtures. A more contemporary vanity also can help. Bathrooms are another focal point for potential buyers.
• Declutter the house! You will need to rid your house of all clutter before putting your house on the market. Decluttered homes sell much faster. Why? Less clutter allows the buyer to walk through your house and see their belongings in the space. When it comes to decluttering, every room needs to be touched. That includes the garage, basement, storage rooms, and attics. The house’s central area, kitchen, living room, bathrooms, and bedrooms would be the top priority as buyers tend to focus on these areas when inspecting the house. Remember, less is always better.

Check out the competition. Get your realtor to take you to houses that are for sale in your area. This will give some ideas before you fix up your home and put it on the market.

Fixer-upper buyers – These are buyers that are looking for a house that needs repair and updating. These buyers are willing to do some fix-up in exchange for a lower than retail price on a place. A few minor repairs and cleanup will prepare the home for the fixer-upper.

• Make sure the significant components of the house are in working order. HVAC, plumbing, electrical, and appliances should be in good repair and running.
• The house should be clean and livable.
• Curb appeal never hurts when listing your house. But if you are selling a fixer-upper, cleaning the yard and shrubs should be sufficient.
• Remember, the fixer-upper buyer is looking for a house they can live in when they fix up the house. You will probably not get the retail price for the house. But by not fixing up the home to a retail buyer level, you will also not have a lot of money out of pocket for repairs. If there is a lot of equity in the house, the fixer-upper buyer may be the best way to sell quickly and get cash at closing.

Investors – An investor buyer is looking for a house below retail market value to buy and turn a profit. You will not get market value for your house, but this type of buyer usually buys as is, so there is no need to do any cleanup or fix-up.

• Investors will usually forgo lengthy inspections and closing deadlines. This means that they can close on the house fast if you need the equity cash from your house.
• Investors work with your schedule and can wait for a future move-out date. They are flexible with other issues that may come up.
• In some cases, investors will purchase the house and let you live in the house after closing. This will allow for the proceeds from the purchase to establish a new household and pay for moving costs.
• Leaving behind unwanted items for disposal is usually no problem since investors buy as-is.

If you are considering to sell your home for cash without making many repairs, consider Bonnie Buys Houses Fast. We offer a no-obligation consultation and can give you an evaluation of your home based on 17 years of buying and selling hundreds of houses.

We will provide a fair written cash offer within 24 hours of the inspection. In some cases, after we do our assessment, it may be in your best interest to select a retail or fixer-upper buyer instead of working with us. No matter, we do not expect to buy all the houses we evaluate. We are not out to steal homes. As always, our goal is to provide a win-win situation in all of our dealings.