In this article, Kentucky Real Estate Buyers – conveniently located in Lexington, Kentucky (KY) – is here to tell you how we can help if you’re selling a house that needs extensive repairs. Contact us today for help with selling your home quickly for a cash offer!
While it may seem difficult, selling a home needing extensive repairs is hardly an issue- if you have the right buyer. For those needing to sell a fixer-upper there are ways to improve the chances of getting the house sold without listing it. Contact Kentucky Real Estate Buyers for help with selling a house that needs extensive repairs.
A typical concern we hear from potential sellers when they call about a house in need of repairs is “I don’t want anyone to see it like this… I need time to clean it up before you come.” Please don’t be afraid to call and have us come out to the property! We look past the clutter, belongings, and “stuff” that come from a busy life to see the potential of the property itself. We are not retail buyers and are not intimidated by the work that needs to be done. Even if you are not ready to sell, we can walk you through the options for what to expect when the time comes.
If you decide to list your property with a realtor on the MLS, you will need to be prepared for retail buyers to ask for inspections, have financing dependent on bank approval, and negotiate things like repairs and closing costs. Kentucky Real Estate Buyers can pay your closing costs so you don’t need to bring money out of pocket to repair and sell the property. We will also help you navigate tricky legal situations like probate, foreclosure, or title problems and cover the associated expenses.
We appreciate when sellers are upfront about properties in need of extensive repairs. This helps us make an honest assessment of the property to provide you with your best options. Let us know about the repairs that are required or anticipated. Be open about the faults of the home rather than try to hide them. Not every house is a good fit for every buyer so it’s helpful to know upfront what will need to be done.
While the house does have potential, you need to take careful consideration of the expenses involved in repairing and updating the property. Fixer uppers need to be sold for what they are like now, not what they can be. Consider the property’s tax assessment value as a starting place and then subtract the cost of repairs and updates. If you’re considering making these improvements yourself before selling, you will also need to add in the cost of time the property will be vacant during repair and while sitting on the market during which you will be still be paying the mortgage, taxes, and insurance. Then, subtract the cost of realtor fees, closing costs, and any additional expenses tacked on through the inspection and appraisal process if a retail buyer purchases the property.
If you are selling home needing extensive repairs, Kentucky Real Estate Buyers can help. We are a local company that buys properties as is in Lexington and Central Kentucky. We have been buying homes for over a decade and make the process stress-free. Unlike the traditional process for selling a home, we offer a fast and simple alternative. We are located in Lexington, KY to provide our services to the greater Lexington, KY area and the surrounding counties, including Bourbon, Jefferson, Madison, Scott, Franklin, Clark, Jessamine, and Woodford. Call us today if you want to sell your home fast.