People often ask “What's the best way to sell my house?” "Should we do renovations or updates before we list it? If so, which renovations should we do? Or should we sell as-is, since the Buyer is going to do their own updates anyway?"
The answer is..."It depends on what is most important to you".
Matt Fein, with his almost 20 years of real estate experience, and The Fein Properties Team have the knowledge, expertise, and experience to help you sell your property - whichever outcome is best for you. We can show you what a realistic sales price and timeline can look like for each strategy. Then, when you’re armed with this information, you can decide what makes the most sense for you. The best part is...Whether you want to sell quickly as-is or you want to try to sell for top dollar by having renovations done first, we can help and guide you every step of the way.
When it comes to selling your property, we first try to understand what outcome is most important to you. From there we can determine the best strategy to reach your desired outcome.
For most people, the desired outcome is something like: "I want to sell for the highest price possible, with the least amount of hassle". That makes sense. But, repairs and renovations may need to be done in order to sell the house for the highest possible price. Depending on the current condition of the property, those repairs & renovations may be minimal...or they may be extensive. Taking on these renovations – while also taking care of work, your family, and everyday life - can be difficult...if not impossible. If you don’t have the time, money, contacts, and energy to handle pre-sale renovations then selling for the highest possible price might be a difficult outcome to achieve.
That's where we come in. We work with several top quality (and reasonably priced) contractors that can get the job done quickly, for a reasonable price, and a high-quality finished product. We even can bring in a contractor that can do the renovations, handle every aspect of the job (including picking out the finishing’s), and, if you qualify, you don't pay for anything until after the house is sold!
For some people, it might make more sense to not do any renovations and sell the property 'as-is'. Yes, the net proceeds of the sale will most likely be less then if pre-sale renovations are done...but, the time and convenience of a faster, easier sale may make that a more desirable strategy.
Not sure which way is the best way for you to sell your property?
Want to learn more about how we can help?
Take the first step and contact us for a no-obligation conversation…or just click the ‘Call Me’ or ‘Email Me’ button on the right side of this screen (or if you're on your phone, click the Phone or Email icon at the top of your screen).
If you’re not ready to talk yet, but want to have an idea on how much your house is worth, click here to get a "Market Snapshot" report of sales of other homes in your neighborhood and zip code.
If you’re the kind of person that likes details, and want to learn more about the different ways to sell real estate, and whats involved then just keep on reading!
Selling the ‘traditional way’: Renovate it, Stage it, and List it!
Some people believe that the ‘best’, and only, way to sell a house is to get the house in top condition, and then list the property with a Realtor that will market the property on the MLS, and all the top real estate websites. Most would agree that this will generally net the property owner the most amount of money. However, it can also be a bit of a process – sometimes a long process. Even for a house in ‘average’ condition, a property owner may end up spending considerable amounts of time, money, & energy to get the house in the condition it needs to be in order to sell for ‘top dollar’. It can get overwhelming just thinking about it all.
If you want to net as much as possible out of the property, then this may be your best option. But how do you know which renovations will give you the most 'bang for your buck'? There are so many choices of materials and colors - it can make your head spin.
With our decades of experience renovating and selling houses, we can advise you on which renovations to do...and more important...which renovations NOT to do. Also, we can refer you to several top quality (and reasonably priced) contractors that can get the job done quickly, for a reasonable price, and a high-quality finished product. We even can bring in a contractor that may be able to do the renovations, handle every aspect of the job (including picking out the finishing’s), and you don't pay the contractor anything until the house is sold! (No, that is NOT a typo).
If you would like to schedule a visit with us to help decide what renovations you should do, then contact us for a no-obligation, no-cost consultation.
Selling ‘as-is’ at discounted price: But not TOO much of a discount.
Some real estate professionals (investors, auctioneers, etc) offer sellers the quicker and easier path – which is to sell the property ‘as-is’ at a discounted price. This kind of sale is typically much faster (Often 30 days or less) and with much less headache and hassle than the ‘traditional way’. However, the downside is that the owner will typically net less than selling the ‘traditional’ way.
So, one may ask, why would anyone sell their property as-is if it means you make less?
(No, the answer is NOT because you save on the commission and closing costs. While it is true that in an as-is sale directly to an investor, or other discount home buyer, the seller often does not pay any closing costs or commissions. But still, selling as-is usually (almost ALWAYS) results in the property owner netting less than if they did pre-sale renovations. So, even though the seller does not pays closing costs, commissions, and other typical seller closing costs in an as-is sale, they are still probably netting less than if they did the renovations.)
So, back to the question: Why would anyone sell the property as-is if they are going to make less?
The reason people sell as-is at a discounted price is because, for whatever reason, the time and convenience they get from a fast, as-is sale, outweighs the time, money, & energy needed to get the house ready for a ‘traditional sale’. For whatever reason owners doing an as-is sale don’t want to (or are unable to) spend the time, money, and energy needed to 1) Prepare the house for sale, 2) Keep the house in top shape so it can be shown to all possible buyers, and 3) Wait for the time it takes for a typical home buyer to secure their financing.
If time and convenience are more important then trying to get every dollar possible out of your property, then you might want to consider selling the property 'as-is' to a cash buyer. We know many qualified home buyers that are ready to pay cash for your house if you want to sell it as-is. Contact us or give us a call by clicking on the 'Call Me' button to the right, or the phone icon at the top of the screen.
Somewhere in between?
Like we said before, we don't believe in a 'one size fits all' approach. Many people fall somewhere in between the 2 above options. Meaning, maybe it makes more sense for your situation/time-frame to do some (not all) of the recommended updates before listing the property. This can be a good balance of getting the property on the market and sold relatively quickly...and still getting CLOSE to top dollar.
Still not sure which option is best for you?
Take the first step and contact us for a no-obligation conversation…or just click the ‘Call Me’ or ‘Email Me’ button on the right side of this screen (at the top of the screen if you're on your phone).
If you’re not ready to talk to us yet, but want to have an idea on how much your house is worth, click here to get a bi-weekly email report showing how much other homes similar to yours are listing (and selling) for.