In a perfect world, you’ll have the time and money to make all the repairs your home needs before you list it for sale. However, in some instances, you may wish—or need—to sell a home in Grand Junction with the knowledge that it is in need of repair. Maybe your roof is aging, or perhaps the fence is rotting away. Can you still sell your home?
Yes, you can sell a home that needs a repair. If you need to sell “as-is,” meaning you won’t make repairs even after an inspection reveals a problem, you’ll take a hit on the sale price. In certain circumstances, that may be your best option. It may also take longer to sell, which should factor into your decision whether to make repairs or sell as-is.
Selling for a Reduced Price
In many cases, you could simply reduce your listing price. Your Realtor® will help you determine a fair asking price based on the CMA and the home’s condition. There are plenty of real estate investors who may jump at the chance to “flip” a home such as yours.
Offering Cash at Closing
If you home needs one or two major repairs but is otherwise in good shape, you may have another option. Offering a cash allowance to the buyer upon closing the sale can broaden your potential buyer base to include regular homebuyers—people who wish to live in the home.
The difference to the buyer is that he or she will pay—and finance—the full price; but then receive a cash allowance to make the repair(s). You’ll pay this allowance out of the proceeds from the sale, meaning you’ll effectively be selling for a reduced price. However, cash at closing is an attractive option for many buyers, so this can really help you make the deal.
Are You Selling a Home in Grand Junction or the Surrounding Communities?
Call us at 970-765-4135 or contact us online. We’ll be happy to give you a free comparative market analysis so you know exactly how much your home is worth, and we’ll give you our best advice based on our knowledge of the local market and your situation.