Figuring out how to sell an unwanted house that needs repairs in Pensacola, FL, can be quite difficult. After all, many residents are looking either to downsize, move to another city or they are in dire need of money. Selling a property quickly is a great way to tackle these situations, but how can you do that, especially if your property still needs some repairs? Thankfully, there are a multitude of options to consider when selling a property quickly. Here are the best things to focus on!
1. Work with cash buyers
Cash buyers are one of the best ways to ensure you sell an unwanted house that needs repairs. Unlike a regular buyer who would require a mortgage, cash buyers will pay you very quickly. That means you can finalize the purchase in a week rather than months. Additionally, cash buyers don’t care if the property needs repairs or not. They are an excellent option to consider if you want to avoid investing anything else into the property and you’re looking to sell your house right away.
Finding the right cash buyers is of the utmost priority. Quality Properties of Northwest Florida LLC acquired many houses in need of repairs, anything from small repairs to complete renovations. Once you work with a cash buyer, you eliminate the hassle, speed up the purchase, while enjoying a streamlined, carefree experience.
2. Work with a real estate agent
Another option to consider when sell an unwanted house in Pensacola is to hire an agent. They will list your house on multiple MLSs, thus increasing your exposure. That should help bring in more potential buyers. Of course, it’s very important to prepare your home for buyer visits. However, the downside of using an agent is that they will take a commission from the entire process, anywhere from 2% to 6% of the house value, depending on the location. Plus, selling with an agent can sometimes take months, even more so if the buyer needs to apply for a mortgage. While it can help you sell your property, you have to keep in mind it’s going to take a while to do so via this method.
3. Price your home under the market’s average
Pricing your home correctly is crucial, if you want it to sell quickly. That’s a valid approach because lowering the price will usually attract more buyers. However, you don’t want to lower the price too much; otherwise, buyers might be second-guessing it and think something is wrong with the property.
The best way to approach this is to stay honest, talk about any repairs that the property needs, and justify the lower price. Not only does that inspire trust and transparency, but it also gives buyers more confidence to get in touch. Plus, it will be a good deal for them anyway if you price your house correctly.
4. List the property with a negotiable price
Another great idea is to list the property price as being negotiable. That shows potential buyers you’re willing to lower the price if the right buyer comes along. After all, if you’re looking to close a deal fast, it makes sense to stay open for any negotiation. However, it’s important to hold your ground. You want to avoid showing any signs of desperation or willingness to sell at any price. Yet it’s ok to agree to a price that’s $5000 lower, for example, if you find that suitable.
5. Create a 3D tour of the property or a video
Why should you create a video or 3D tour of the property? The truth is that pictures can only show so much, and most of the time, buyers might have additional questions before they visit the property. With help from a 3D tour or a property video, you can show a lot more details. Not only does that increase transparency, but it also offers a more interactive way for a buyer to see the property beforehand.
Property videos and 3D tours can be made for any property, regardless of its price. It’s a great marketing tactic that will:
- Generate more interest regarding the property
- It encourages interaction while reducing bounce rates
- It gives you the means to make your property stand out
- 3D tours are easily shared, thus boosting your reach and exposure
- You have a great way to highlight key features pertaining to your property
- Videos and 3D tours tend to have an excellent return on investment.
6. Market your home aggressively, post ads locally
Aggressive marketing can also be a good idea if you want to sell an unwanted house that needs repairs in Pensacola. The reason is simple: if you post ads on local sites, it becomes easier for people to find your home. You’ll have more potential buyers, which is great. Even if your home needs repairs, a lot of people are willing to buy and pay for the repairs themselves. In some cases, homes in need of repairs are perfect for those who want to customize their newly acquired home and renovate it to their wishes.
That’s why it always helps to be very aggressive with your marketing, post ads anywhere you can locally, and share them on social media as well. The more you promote your home, the higher the chances of getting it in front of the right buyers.
7. Offer flexible terms
It’s a very good idea to stay flexible with terms, if possible. Like for example, rent to own or lease option, or even owner finance. There are many benefits of being creative with your home sale. Also If you show flexibility, then the purchase might be enticing for a lot of potential buyers. You can accommodate more buyers, which in turn can increase the chances of selling. Plus, it comes in handy to be flexible with terms if the home already needs some repairs. That, combined with a negotiable price, might help speed up your home’s sale!
8. Let all the neighbors know you sell, and ask them to inform people in their network
Harnessing the power of your network always comes in handy when you want to sell an unwanted house that needs repairs. It’s a good idea to tell your neighbors that you want to sell the property so they can inform people they know who are on the lookout for a new home. Spread the word, share links to your property with everyone who might be interested because you never know where you might find the right buyer.
9. Prepare all documentation beforehand, so everything runs smoothly
The home purchasing process can be time-consuming, especially when it comes to dealing with all the paperwork. You’ll need to have all kinds of documents ready, including:
- Energy performance certificate
- Warranties
- Title deeds
- Proof of identity
- HOA documents
- Original sales contract
- Property information form
Depending on the situation, you may also need to present other documents, like maintenance reports, building inspections, regulation certificates, and so on. It’s important to learn what documents are required in your local area and have these ready before you sell the property. If you have all the documents good to go, signing the sales contract and selling your home is a much simpler process. You don’t have to wait for any documents to be issued, something that could take anywhere from a few days to multiple weeks.
10. Stage the property and make it look appealing for new buyers
Presenting the property in a way that’s appealing to buyers is always helpful. For starters, it shows that the property is well taken care of, and it already looks stunning. Home staging can bring faster sales, not to mention it can be a great way to impress customers. Staged homes stand out on the market, and they also make it easier for buyers to understand the floorplan better. You can also highlight the positives of the property, something that can bring in excellent results.
11. Create a flyer/brochure and share it everywhere you can in the local area
It’s a great idea to create a brochure or flyer where you showcase the home, a few pictures and important details, along with the price. Spread flyers within your city/town, within multiple neighborhoods. It’s a more old-school approach, but it could help generate a lot of leads and even bring you the home buyer you’re expecting.
You don’t need to have colorful flyers or brochures; instead, the focus is on ensuring the images are easy to understand. Plus, you want to offer more info, including the property price, if there’s any room for negotiation, the property’s current state (it still needs repairs), etc. Transparency is key because it will inspire trust in the minds of buyers. Having buyers trust can be a great way to sell an unwanted house that needs repairs.
12. Use a “For Sale” road sign; it works!
Ever since digital house selling has become so popular, few people continue using “For Sale” road signs. However, these still work very well because they generate interest in the property. If a passer-by sees the house is for sale and they are looking for a home, they might come to the door or call you. It never hurts to have an additional way of finding buyers, so keep that in mind!
Closing thoughts
Can you sell an unwanted house that needs repairs in Pensacola quickly? Yes, and it comes down to what method you want to focus on. Using a cash buyer like Quality Properties of Northwest Florida LLC can be a great way to speed up the process and receive a fair market price, along with your money, within a week. Or, you can use any of the methods shown above. Whether you are dealing with a divorce, want to move to another city, or any similar situation, it’s a good idea to list the property, use great marketing techniques, or even work closely with a cash buyer, and you won’t have a problem selling your home quickly!
