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Selling a house represents a significant decision in anyone’s life – and you want the transaction to go as smoothly as possible. Unfortunately, there can be some hiccups along the way, and if the property you’re selling still needs repairs, it can be a bit of a headache.
If you want to offload your property as soon as possible, cash house buyers can make that happen. Alternatively, if you want to sell your house on the market, you will need to make some changes to bring it up to market conditions.
There are lots of options available to you. Stay calm and read ahead.
Here’s everything you need to know about selling a house in the UK that needs repairs.
You have lots of different options available to you when trying to sell a house that needs repairs – all of which have pros and cons. You can sell your property in several different ways:
The best option depends on where your priorities lie.
If you want to sell your house as soon as possible, without having to make repairs to some of the issues with your property, then you should find a cash house buyer.
But if you care more about giving yourself the maximum amount of control over the asking price, selling the property yourself is the best route. However, selling the property yourself will create a lot of hard work for yourself, compared to selling through an estate agent.
Selling your property at auction means that your buyer can’t back out, but also comes with extra costs associated with working with an auction house.
You should carry out thorough research on all your options before making a decision.
When your house needs significant repair work or a complete renovation, it’s possible that it won’t sell on the market to another residential buyer. Instead, you’ll likely attract cash house buyers or property investors who want to buy your house for the purpose of investing in renovations and reselling it for a profit. Consider this option if you want to sell your house faster.
If you decide to work with an estate agent, you should communicate to them which type of buyer you want to attract: a family (and therefore selling on the market) or a property investor. If you want to attract a cash house buyer, then don’t work with an estate agent – just go straight to a property buying organisation.
Your estate agent will find it extremely valuable to understand the kind of buyer you want to attract because they can tailor the marketing of your property accordingly.
To decide which parts of your property needs repairing, put yourself in the shoes of a potential buyer. If you were looking to buy your property, which features would you take issue with?
If you want to sell your property on the market, then you need to make sure that there are no structural or safety issues. This is because many lenders won’t approve a mortgage against a property which is uninhabitable in its current state – and therefore, potential buyers will be turned off by your property. Therefore, you should address major structural fixes, such as:
Fixing these issues can be costly, not to mention time-consuming and intrusive to everyday living (fixing a roof will likely mean having to vacate your property for a time). Should you want to avoid this, you’ll need to find a buyer who doesn’t require a mortgage – such as WeBuyAnyHome. We’re a well-funded cash buyer and don’t rely on a mortgage to purchase your property.
Smaller fixes can make a big difference to how sellable your property is, and won’t break the bank! These could include:
You can do most of these things yourself – and even if you choose to hire someone to do it for you, it won’t be overly expensive.
The demand for properties with clean bathrooms, clean floors and a mowed lawn is far higher than ones without these things. That’s why these small fixes can have a major positive impact on the attractiveness of your property to buyers in the market.
An estate agent’s job is to focus on the positives of your property. And with a house that needs repairs, a positive sales approach is exactly what you need.
Your estate agent will be able to see past the flaws (which can sometimes be difficult for you, the homeowner) and emphasise the excellent features to buyers. For example, your wardrobe’s doors may need fixing, but the interior could still be spacious and chic!
As a cash house buyer, here at WeBuyAnyHome, we buy properties in any condition. We don’t rely on mortgages or any third parties to purchase your property, as we have our own funds. This means that we can purchase your property regardless of what repairs may need completing.