If you’re trying to sell a property in Basildon that requires refurbishment or modenisation (a doer-upper!) you might be wondering how to go about marketing it.
- Do you need to do the repairs first?
- Or can you sell your home as-is?
- What impact will it have on the value of the property?
Our expert team here at Roger Bates Properties (partnered with Keller Williams ‘The World’s Largest Estate Agent’) know a few things about how you can sell a property in Basildon that requires refurbishment, so here is our helpful advice.
Do Houses the Require Refurbishment Sell?
While you may be worried your unrefurbished property won’t sell, in reality, that isn’t the case. Even properties in very poor condition will find buyers, although it’s important to have realistic expectations in terms of the sale price and speed.
Which Audience Should I Market To?
Knowing who to target is essential when selling pretty much anything, and it’s especially true when it comes to selling a property that requires refurbishment. Although many prospective buyers want to move into a home that requires minimal work, there will always be a percentage of the market actively seeking homes that require updating.
House flippers and property developers, as well as landlords wanting to increase their rental portfolio, and buyers on a low budget, may all be interested in purchasing properties that require renovation, so targeting these markets makes sense.
How Much Will A Run Down House Sell For?
It goes without saying that to sell a property in Basildon that requires significant refurbishment is probably going to sell for less than one in perfect condition. However, the amount that the sale price will be reduced by will vary depending on several factors.
To get an idea of what your property could be valued at, you need to take a few steps:
- Make a comprehensive list of the updating needed.
- Research the local property market and work out the approximate value of your property (if it was in perfect condition).
- Find a reliable estate agent like Roger Bates Properties (partnered with Keller Williams ‘The World’s Largest Estate Agent’) with an in-depth knowledge of the property market in your area!
Should You Do Any Refurbishment Before Selling?
If you want a speedy sale or lack the money to complete most of the refurbishments, there’s no need to action them before putting your home on the market, especially if the works required are major. Small repairs, though, may be worth doing, especially if they involve boosting your home’s kerb appeal.
How Do I Sell My Home in Basildon If It Needs Refurbishment?
There are three options open to you if you’re ready to sell a property in Basildon that requires refurbishment.
The open market through a reputable estate agent is the first, and represents the best option. Even though you’re targeting a niche group of prospective buyers, if you choose the right agent you’ll stand the best chance of finding that one buyer keen to purchase a home just like yours.
Your second option is selling by auction, but while this may seem like a good option, it doesn’t always pan out as you planned and you will need to be prepared to settle on less for your home than you anticipated if you do not have a reserve price.
The third option is to use a home buying company. While they promise fast sales, many of these companies use unscrupulous methods and you’ll almost certainly get a lower price than you should, not to mention potentially being hit by high fees.
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Roger Bates Properties (partnered with Keller Williams ‘The World’s Largest Estate Agent’) are your local property experts for the Basildon area. Call us on 07494 803917 or email [email protected] to find out how we can help you.
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