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How to Sell a Property in Poor Condition
Finding yourself with the need to sell a property in poor condition isn’t the easiest thing to resolve. But with some careful planning this shouldn’t be something you have sleepless nights over either.
You may have a house that has become tired and now requires substantial refurbishment. You might also be short of funds to pay for this. Perhaps you dread finding and managing an army of tradesmen while they do the work required? This is understandable given how much work is involved in carrying out a full refurbishment.
Or maybe you own a rental property that has become run down over the years. Perhaps your tenants haven’t always treated the house with respect and being a landlord has become a hassle? Unfortunately this is an all too common problem for many landlords.
Restoring a house to a decent standard can become a full-time task, soaking up time and many thousands of pounds.
How to sell your run down property in poor condition
Selling a property quickly for cash could mean one less headache in your already busy life. With the right deal, a substantial lump sum could be realised. A quick sales process means you could avoid estate agents’ fees and sell your tired house on more rapidly.
However, how do you sell a run-down or tired house and property? And how do you go about finding the right company that will buy your house in a transparent way?
If you want to sell your house on quickly, you need to be realistic about its true worth. Realistically, you need to accept a house requiring much work is worth less than a similar property in better condition. For a quick sale, look for a house buying company that can assemble its trusted tradespeople and manage the improvement works themselves.
Make some simple changes
Before you sell a property in poor condition, it may help the situation to make some simple changes.
First, it’s best to adopt the right mental attitude about the realistic value of your house.
Secondly, don’t make the mistake of spending thousands of pounds of your own money before you sell a run down property. This is unlikely to help and will only cost you more, for little potential benefit.
It can help to de-clutter a property and remove personal affects. This means selling or getting rid of furniture that is tired or that you won’t need in your next home. Now is a great time for a spring clean to reduce possessions. Certainly, updating your kitchen and bathroom with new fixtures and units before you sell would be a waste of cash.
As this blog from property website Zoopla states, property renovation has it’s downsides, not least the cost. Nor will the work you need to have completed be done overnight. With a full-time job and a family, you will probably want to avoid doing work on your own property.
Surveyors will look at the main structural condition of your home. So, if these kinds of repairs are needed, best to leave them to a professional.
Don’t do too much work yourself
If your front garden is unkempt and cluttered, we recommend tidying it up. Remember, first impressions matter. Don’t go over the top with re-painting or re-decorating. Remember, you are looking to sell the property in poor condition avoiding doing the refurbishment yourself.
Choosing the right house buying company
The best company to deal with will treat you fairly. There should be no worries or hassle. Selling a property is stressful enough, and there are so many choices of home buying companies on the market.
Some of the problems of a traditional sale could include being trapped in a long chain. With a property in need of work, that would be the last thing you need.
While you want a fast sale of your run down property and minimal hassle, you also need a company with your interests at heart. Avoid homebuyers who want to charge you for surveys and instructing solicitors. Also be cautious if a firm offers to send paperwork over straight away by courier for your signature. These are methods used by less scrupulous companies who want to buy your house fast without looking out for you.
Search for homebuyers that won’t charge fees at any stage of their service. Nor should they send you those couriers to sign instantly for your house sale. A reputable company should be up-front about its fees and charges and act in a transparent way. They should also give you the time to make an informed decision. A cash house buyer that will pay some of your legal fees is also well worth considering.
Want to find out more?
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Alternatively, contact one of our team at National Property Buyers on 0115 740 1900.