According to the Wall Street Journal, home buyers are less likely to make an offer on a house that needs a lot of fix up. House prices are high, mortgage prices are high, the last thing buyers want is to borrow expensive money to pay a contractor, and hope that the economy or the market doesn’t fall out from under them before they finish.
Even turn key properties, completely ready to move into, are getting about half the offers they were getting a few months ago. Many times big fixer uppers are sitting on the market, getting stale. When a listing gets stale, that means potential buyers start wondering what is wrong with the property. Same goes for Zillow FSBO listings.
Properties that are clean and priced right should be in escrow within a month.
If you have the time and money, definitely fix up and upgrade your property before listing it with an agent. If you don’t have the time, money or desire to fix up your property, it is probably best to explore the options of selling quickly, as is, to a cash buyer like us. That way you know what you’re going to get, and when you’re going to get it.
Obviously you understand that you won’t get full retail value when you sell to an investor. The trade off is that you quickly get an amount you can live with, and you don’t have the risk of the economy weakening, or the real estate market crashing before the property can be rehabbed and listed in the normal way. The investor takes on all those risks, and needs to be compensated for taking those risks.
It doesn’t hurt to chat with us. If you don’t like our offer, we can part as friends. If we don’t like your house or your price, we can part as friends. This only works if we’re both happy with the arrangement. Let’s talk and see what might work: (775)297-8309.