In today's market, buyers pay a premium for homes that are fully renovated and move-in ready. What if you don't have the resources, time or bandwidth to fix up your house? A property that is dated, unrenovated and worn around the edges can linger on the market for months and may require significant pricing concessions before piquing the interest of a buyer.
Fixer-uppers may have been appealing a decade ago, but today they leave buyers with cold feet. Ten years ago, most people were looking to add some value and put their fingerprint on a property. Today's market is very different, particularly with millennial buyers who want a finished product; They're not interested in sweat equity.
For homeowners who may not have the time or money for a renovation, there are options that can help sell a property with no out-of-pocket expenses.
Pre-sale Renovations with No Upfront Cost
Some real estate agencies, like Keller Williams, Compass Concierge and Coldwell Banker, offer renovation services with no upfront costs to their clients. The firms then recoup the cost of the renovation from the price of the home after it sells. If you're interested and able to get top dollar for your property and want to sell at market value, consider partnering with one of these companies to make it work. Another great resource called Improvio, is a company based in Columbus Ohio that provides high-impact, turnkey repairs and renovations and defers payments until the home is sold. Properties that receive this attention, sell quicker and at a higher price compared to unrenovated properties.
Sell Quickly with No Showings
Many investors, called iBuyers advertise quick cash for "ugly houses," often at slightly below-market prices. These companies flip the properties for a profit, saving sellers the hassle of showings and costly renovations. Even real estate firms, like Zillow and Redfin, have iBuyer divisions that will make a cash offer on a home, sight unseen, based on the specific location and condition of the property. For more information on iBuyers, be sure to check out "What is an iBuyer". One consideration when selling to an iBuyer is they often won't accept properties that need a fair amount of improvement. Its best to carefully scrutinize the buying criteria to see if your property meets their requirements.
CoreMark Homes
At CoreMark Homes, based in Columbus, Ohio, we buy homes that may not meet the buying criteria of larger iBuyers in as little as 7-10 days. After we purchase properties, we often renovate them to rent them out to families or even resell to our vast network of real estate investors. One of the advantages to selling to Brogue is homeowners can sell as-is, with no fees, repairs, cleanup or showings. We're also happy to arrange a cash advance up to $10,000 from the sale upfront to help with moving expenses, if needed. For more information on how our process works be sure to check out How it Works.
"When people come to us, we look for three things: Do they have the money for renovations? Do they have the time for renovations? Do they have the know-how and interest to oversee the effort?" said Ryan James, a managing partner at Brogue Properties. "If the home needs a fair amount of work, selling to Brogue may be a good fit."
Sometimes people need a hand to hold, since a quick sale is often brought on by an unplanned life event. "Often people are in duress," Ryan says. "They are going through a transition in their life that is unfamiliar with high stakes; Typically there is a relocation, divorce or death involved."
Selling a home with no showings, especially for people with serious health issues, needy pets or a history of hoarding are great candidates for a sale to Brogue. We specialize in assisting with the sale of estates in probate in which family members may not be nearby and we can offer an appealing, quick sale.
Many people are interested in what happens to the house even as they walk away. People want to know a family is going to move in with kids and dogs running around the backyard like they remember from years past; They just can't do the work to get it there. These are ideal candidates for selling a property to CoreMark.