Can You Sell House With Massive Repairs Orlando? Absolutely, Here’s How!
Massive repairs have historically made it incredibly challenging to sell your home. Buyers typically face two issues when trying to buy this type of property. The first issue is that, in general, buyers do not want a fixer-upper unless it is a fantastic deal. If homes in the region are going for $300,000, then a fixer-upper might have to go for $200,000 to attract interest. The second problem is that these homes often don’t pass appraisal or inspection, meaning that banks are usually unwilling to lend money for their purchase. Despite these problems, it is possible to sell a house with massive repairs Orlando!
Sell House With Massive Repairs: The Traditional Approach
Traditionally, homes that require this level of work would have had two possibilities. Either they would go on the market as-is, or the owner would fit it up and make it look nice before listing it.
The “as-is approach” is the most simple and straightforward. However, as discussed in the intro, this approach has quite a few problems. It’s often really tough for people to obtain financing for these homes, which severely limits your prospective homebuyers. In 2016, only 28.6% of all sales were all-cash, and many of them aren’t on the traditional real estate market. Therefore, without obtaining financing, 70%+ of would-be buyers can’t consider your property.
Given this, most real estate agents recommend the “fix it up” approach. However, this isn’t perfect, either. When looking to sell a house with massive repairs, you’re probably looking at thousands, if not over a hundred thousand, dollars in repair bills. Most people don’t have that kind of cash lying around.
As such, to fix the house to sell it, many people elect to take out a HELOC (assuming the home appraises). The problem is that now sellers potentially have a mortgage, a HELOC, and a bunch of utility bills, all on a property that they are trying to offload.
If the repairs lead to a quick sale, then they were worth it. That doesn’t always happen, though. The average home in the Orlando region takes 93 days from listing to closing. If your property takes even longer, that’s a substantial time to sit with two large loan payments and utility bills!
There’s Another Way!
By selling to a cash investor, you can bypass many of these problems. A cash investor will buy your home as-is. No repairs are needed!
The process is quite simple. You’ll contact the cash investor, and they’ll take all the information about your home over the phone. Most investors will give you a rough ballpark estimate over the phone. If that estimate sounds acceptable to you, they’ll send someone out to do an inspection.
The inspector will look your home over. This inspection will be thorough as the representative looks for everything necessary to make a fair, reasonable all-cash offer. After the review, they’ll write out that offer for you.
Of course, there’s no obligation, so you can always walk away if you don’t like it. However, most people find that these offers are remarkably fair and usually wind up taking them.
The best part of this approach is that you can sell your house with massive repairs and not worry about fixing them up! No HELOCs, no massive expenditures, and no mental stress of wondering if and when your home will sell!
Sell House With Massive Repairs Orlando To Sunny Spot Realty
If you want to receive top dollar for your property “as-is,” contact us at Sunny Spot Realty. We’ll be happy to note your contact information, send someone out, and have one of our inspectors write you a fair all-cash offer for your property.
Please don’t sell your house with massive repairs Orlando on the real estate market! Let Sunny Spot Realty give you a fair all-cash offer instead!