How do you sell a Fort Lauderdale house that has major repair needs?
While the Broward County property market has been improving and heating up, not every home is selling quickly, or for more money. Home buyers and international real estate investors love brand new homes, and turnkey investment properties. But when it comes to existing properties they are normally looking for a real bargain. Contrary to some reality TV shows, not everyone is eager to take on a difficult or expensive rehab job. They eat up lots of cash, and are extremely risky. So what do you do if you have a home in Fort Lauderdale, Hollywood, or Lighthouse Point that needs some repairs or updating? What are the challenges in selling? What are the best options for selling houses faster, and for more money?
Home Repair Issues
Some of the many major issues facing Fort Lauderdale area home sellers include:
- Termite infestation and damage
- Major appliance failure
- Broken swimming pool pumps
- Leaking roofs
- Leaking plumbing
- Outdated electrical systems
- Building permit and code violation issues
- Burnouts and fire damage
- Flood damage
- Previous meth labs
- Chinese drywall
Why Repair Needs Make it so Hard to Sell Houses
There are a number of reasons that major repairs, and even homes that are very outdated can be incredibly difficult to sell. The first is simply appeal. Prospective buyers instantly judge a property by looks. If it doesn’t look awesome it can be incredibly difficult just to get buyers to click on a listing. Never mind actually getting them to view a property.
Of course; even great looking properties can have major flaws and updating needs. That can grip potential home buyers with fear. Few really want to be full time rehabbers. And you never know how vast a repair job can be once you start digging in. And some homeowners aren’t even aware of all of the code violations, permit issues, and title challenges that can take months and tens of thousands of dollars to resolve. Sometimes these costs exceed the sales price of a property!
Then there is the financing challenge. While there are rumors that banks and mortgage lenders are loosening up a little, most are still very cautious. Even they are terrified of loaning on a property that needs work. And they are demanding more inspections than ever. So it doesn’t even matter if a buyer wants to buy your home, is okay with the condition, and will pay your asking price, if they can’t get financed. Sometimes this problem doesn’t arise until well into the process, and hours before the scheduled closing.
Your House Selling Options
- Invest your cash in fixing up and repairing your home first, and hope you don’t lose
- List the home with a Fort Lauderdale real estate agent and hope for the best
- Wait and let the home be foreclosed on, condemned, or seized by the city
- Sell fast for cash to QuickCash2Sell with NO need to repair, or even sweep the floor
Get a fast cash offer for your house today, and sell no matter what condition it is in…