How to Sell a House That Needs Work in Milwaukee
We Buy Houses That Need Work Fast - Quickly Sell a House in Need of Repairs
Do you need to sell a house that needs work in Milwaukee, Wisconsin?
If you're thinking "my house needs major repairs" or "my house needs a lot of work," the good news is, you're not alone!
Better news still: you have plenty of options to choose from when you decide to sell your Milwaukee house (even if it needs fixing).
We buy Milwaukee houses that need work, in as is condition, for cash.
We'll make it easy to sell a house that needs work, fast.
Know Your Options: Should I Fix Up My Home or Try to Sell As Is?
When it comes to selling your Milwaukee home that needs work, you really only have two options.
You can fix up your home, to get it ready for a "retail" sale on the MLS (or FSBO).
Or, you can skip the repairs, and sell your Milwaukee house As Is.
How will you know which is the right choice? Here are some key points to consider, based on our extensive experience buying & selling hundreds of homes.
When to Sell Your House As Is: Skip the Repairs & Just Sell the Place.
The most obvious time to sell your house that needs work, in as is condition is:
When you can't afford the time and/or money to do the repairs!
Maybe you would get more for the house if you handled the repairs or improvements, but sometimes your time or money right now is more valuable than all the investment & headaches it would take to fix the place.
If you can't afford the repairs your house would need...
Or you'd rather just skip the repairs & upgrades to save yourself the time and effort:
Another Scenario When You'd Choose to Sell Your House As Is (And Skip the Repairs).
If your house needs only minor cosmetic improvements, like a new coat of paint, new light fixtures & appliances, or new carpeting, you might consider skipping the work & selling your house as is.
Especially in a hot market, Buyers don't necessarily mind making minor cosmetic improvements on a house, since they are likely to want to customize these features anyway.
The biggest problem that still remains is, on a retail listing:
Even minor cosmetic issues will detract from the number of prospective Buyers, and will likely pull in a lower final sale price.
That's why it's also important to weigh your options, and consider potentially handling the work before selling.
Fixing Up Your Home Before Selling: When It Makes Sense to Do the Work
To decide whether you'll fix up your home before you sell, or sell your Milwaukee house that needs work in as is condition, ask yourself:
What work does your house currently need?
If your house needs any major systems repaired, replaced, or upgraded, then you'll be losing a lot of potential buyers (significantly reducing your sale price) trying to sell it as is.
For example, if your house needs a new roof, new HVAC systems, or new utilities, then your potential buyer is not only going to discount the cost of the repairs:
They'll be discounting the price of the inconvenience too. And inconvenience costs.
Let's say your house, in perfect condition, aka its "After Repair Value" or ARV, is worth $100,000.
ARV = $100,000
Let's say you need a new roof that will cost $15,000.
Because a Buyer will factor in the potential headaches & hidden costs (not to mention the notable inconvenience) of buying a house that needs such a major system repaired:
You probably wouldn't get any offers above $75,000, even though the ARV minus the Repair Cost is actually $85,000...
Cost of Repairs = $15,000
Loss by Selling As Is = -$25,000 (or more)
Worse yet, a house that needs a new roof (or any major systems repaired or replaced) is probably only going to get offers from investors or handyman fixer-uppers.
You'll be limited to Buyers who are already focused on getting a good deal & the lowest price possible.
In this instance, if your house needs major repairs, it makes sense to handle them yourself, because:
These types of major repairs will cost you less than you'd lose by selling the house in as is condition.
In other words, it makes the most sense to fix up your home before selling when it needs such major repairs that you'll be scaring away most buyers by trying to sell it as is...
(Forcing you to accept a much lower purchase price as well).
If you can't afford the repairs, or
If you don't have the time & energy for substantial home improvement projects...
Sometimes it's better to just cut your losses and sell the house fast, in as is condition!
We buy Milwaukee houses for cash, as is. No repairs or improvements necessary.
Getting Your House Fixed Up For Sale: What Is the Best Option?
Let's assume you've decided you're going to get the work done before selling.
One option is to fix it up yourself.
If you're handy & mechanically inclined, and the repairs needed are only minor or cosmetic in nature, this can be the best option.
Take your time, make improvements & repairs at your own pace, and plan for the long-term improvement of the house for sale.
This way, you can save money and tailor the work around your schedule.
On the other hand, if the house needs major repairs on any significant systems, you're going to need to hire professionals.
Especially systems like your plumbing, electrical, HVAC, chimney, roof, and foundation all need expert attention only.
One wrong move on any of these systems can spell disaster for your house & pose mortal danger to the worker.
Make a mistake on a live electrical component, or fall off the roof due to bad safety practices, and someone can literally die.
If you suspect your home needs thousands (or tens of thousands) of dollars worth of work, or you know that one of these major systems needs to be replaced or repaired:
Go with option 2, and hire a professional!
Skipping the Work: Deciding to Sell Your Milwaukee House As Is, Fast, for Cash.
Even then, you need to carefully consider your options before investing these tens of thousands into work on your house.
Often times the rehab does not pay for itself (given certain market conditions).
For example, you might invest a few thousand into certain repairs & upgrades, only to see your final sale price not budge.
Your thousands of dollars would be invested in those improvements for nothing!
Now you might be wondering, "What else could I possibly do to maximize my financial return on my home?"
Consider this third option:
Skip the repairs, and sell your Milwaukee house as is, for cash!
This is the fastest route, often closing in only a couple weeks, with cash in your hands.
Not only is it time efficient, but it is also effortless.
Sell your house to a cash buyer, and you don't need to clean up or do any work at all. Just take whatever you want, and it's off of your hands without having to lift a finger!
Since we buy Milwaukee houses that need work, in as is condition, you don't need to do one minute of labor --- not even sweeping the floors.
Selling Your House that Needs Work in Milwaukee: Take the First Step Here
Deciding to sell your Milwaukee house that needs work is oftentimes the best option.
If you'd like to find out what we would pay to buy your home:
We'll get in touch with a ball-park offer of what we can pay to buy your house, plus since we'll be paying cash...
We can generally close within 2-3 weeks of our first interaction!