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How To Sell a Property That Needs Fixing Up

April 14, 2012 | Comments: 0 | Views: 99

How many of you right now are thinking 'I need to sell my house quickly but it needs work done to it, what should I do?' Is your property lacking that 'wow' factor that buyers look for these days? Perhaps you tried to do a spot of DIY and it didn't go exactly according to plan. Or maybe your house just lacks character and doesn't have much going for it when buyers compare it to all the other properties on the market these days.

As it is a buyers market at the moment, it is imperative that your property doesn't have anything that puts buyers off. In order to achieve quick house sales, sellers need to make their property stand out to the few discerning buyers who are out there and have money to spend. If your property doesn't look the part, those buyers will move onto a property that does have all the bells and whistles.

Work out what things need to be fixed

Go around your house and write a list called 'jobs that need to be done in order to sell my house quickly', not a list of all the things you'd do to the property if you were going to live there longterm! You only want to correct the things that are going to put a buyer off in the first place.

If you are unsure of which jobs are most important then get a second opinion. Do you have a friend in the property industry who could give you an honest opinion? If not then speak to your estate agent and ask them.

Think about how you're going to fund it

There are many ways to pay for the works that need to be done.

1. Savings - this would be your cheapest option if you have enough money put aside and know you will sell your house quickly if you do the jobs. Don't use all your savings if it means not having anything left over if you don't sell the property.

2. Personal loan - they can be expensive, so find one that doesn't cost the earth and make sure you have the option to pay it back early if you are able to.

3. Go into partnership with someone - if you don't have the money and can't borrow it, can you join forces with the tradespeople and offer them a cut of the profits once you've sold, rather than paying them a wage once the work has been done?

And if those options don't work

Sell at a real discount - often this will need to be more than the works would cost to repair yourself. For example, if you needed to replace a whole window and it would only cost you £500 to do so, you can be sure a buyer will expect a reduction of £1000 to compensate for the hassle involved in organizing the work themselves.

Sell to a property buying company who may buy it anyway - there are several companies who will pay more than you might expect. Ask friends for recommendations if they have sold recently too, or type something like 'I need to sell my house quickly' into a search engine and see which companies are listed on the internet.

Alternatively, you could contact www.sellmyhousequicklyplease.co.uk and speak to them about the possibility of buying your property quickly at a fair price.

Source: EzineArticles
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