Selling a Fixer Upper

Let’s say that you inherited an old house in a distant location and want to put it on the market. You may not have the time, resources or energy to make it perfect and just want a quick sale.

Or, maybe you had renters at your property who did substantial damage and you don’t have the money to make necessary renovations.  

Fear not. Just because the house needs work doesn’t mean you can’t sell it.  Many homebuyers today are shopping for deals and want to see the potential in your home. In that case, leave brochures for new cabinets in the kitchen, color palates around the bedrooms and even create computerized images of what updates could look like.

In addition, secure bids from licensed contractors on necessary fixes and provide them to your potential buyers. People may overestimate the cost of a new roof, shower stall or drywall repair and fresh paint. Estimates will bring the home into clearer perspective.

Work with your real estate agent to make the home as presentable as possible for the least amount of money. Make a room or two inviting so you have the photos that will attract buyers to what you can call “a fixer upper.”

Of course, nothing is going to attract people more than a low price. Obviously, you will need to discount the sales price to gain an advantage over comparables in better condition.  

A down-and-out house doesn’t mean you’re stuck. With small repairs, research and practical pricing, you can turn that “Ugly Betty” into a sale.

Irene Racanelli can be reached at (516) 944-2864. Prudential Douglas Elliman Real Estate is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.