5 Tips For Selling A House That Needs Repairs in New Orleans

Selling a house is always a daunting task, and this is especially true in the this challenging real estate market we are currently in. Whether it’s the home you live in, a rental property, or maybe a house you have inherited, there are many things to get in order to be ready to sell. In this article we will talk about some possible scenarios that go along with having damage to the property. In order to get full retail value for your house it will need to be in very good condition and not have anything wrong with it. People who are going to pay top dollar for a house don’t want to do any repairs to it. They expect to be able to move right in. If you don’t have the extra cash to make the repairs before selling, you need to consider a few different options. Here are 5 tips for selling your house with damage in New Orleans.

Tip #1: Include As-Is in Your Listing

One way to sell your house with damage in New Orleans would be to include the term “As-Is” in your property listing. This will signify that you are not willing to make repairs 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 retail buyers, especially since you will not fix any damage. Most retail buyers do not have the know how or ability to get repairs done. They don’t want to take the risk of having to go through that process largely due to lack of experience and not wanting to get in over their head. When you list your house AS-IS you should expect to attract a different pool of buyers. Mainly investors but also that small faction of homeowners who are willing to take on a project. Either group is going to expect a discount on the price relative to the condition and the time they will spend on the project.

Tip #2: Inspect and Disclose Everything!

Another tip for selling your house with damage in New Orleans 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 damage is and if they are willing to repair it if they buy it. Some properties may be 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 in some of the more sought after historic neighborhoods. Be aware that if your home does fall within a historic neighborhood and the idea is a possible tear down, you or the new buyer will need approval from the HDLC. The new buyer may want to obtain this approval prior to actually purchasing the house to ensure their ability to put their plan in motion.

Tip #3: Visually Spruce it Up

Another tip for selling your house with damage in New Orleans is to visually spruce it up. The damage 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 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. If you spend 1000 dollars painting the kitchen and living room but the rest of it is dated and needs to be upgraded, that paint is getting torn up with the renovations and you have just wasted the $1000.

Tip #4: Prepare yourself for “low-ball” offers

Another tip for selling your house with damage in New Orleans is to prepare yourself for “low-ball” offers. If you have added AS-IS or fixer upper to your listing, disclosed all known damage, and visually spruced up your property, you will most likely be receiving offers that you feel are a bit too low. At the end of the day if your property needs work, more work that just new carpet and a paint job, you are very likely going to sell to an investor anyways. You may need to entertain a few of these offers and really take them into consideration. With damage, 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

One of the easiest ways to sell your house with damage in New Orleans 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 with damage. 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 pay and fees or commissions and you won’t have to deal with showings or inspections. Plus, you won’t have to do any improvements at all to your property. You won’t even have to lift a finger doing any cleaning! You will 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 should also pay for your closing costs!

If you have a house you are looking to sell in New Orleans, Metairie, Kenner, Gretna, Marrero, Harvey, etc…we can buy your house fast. If you have questions about selling your house, no matter the topic, give us a call at 504 264 1407 or visit our website at www.nolabuyshouses.com.

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