Dear InvestorWize, I need to make a lot of repairs to my house. Should I sell my house as is or do all the repairs myself. The work looks like it will take a couple of months to complete, but once done I may be able to make a little money from it so that I can move. What should I do?
This is a really good question and I will do my best to voice my concern. My advice is if you have the time & health to oversee your project and understand what to do then making the repairs could be a good idea. However if there are extensive repairs or you are going through any financial hardship then selling your home as is may be the way to go. Lets think of a simple situation that happens pretty frequently to home sellers.
The fear hits you. You just came to the conclusion that it is now time to get rid of your home or sell your home fast. You take a quick glance around and realize that your place is a complete disaster. You need to sell your home but need to make a ton of repairs so lets add up the numbers. The place needs a pain job no doubt ($), new floors ($$), new roof ($$$$), pool needs to be redone ($$$$$$) windows needs to be replaced ($$$$). The price to get everything fixed up so you can sell for top dollar just keep rising and rising.
You then hire an contractor to take a look and BAM… that when you get whip lashed. The house has some cracks in the doorways and some on the windows. It may have seemed like it was nothing, but you inevitably find out that the house needs foundation work and quadruple BAM BAM BAM ($$$$$$$$$$$$$$$$$$) . All that money from the sale of your house just goes down the drain and your not only left with no profit, but may even come out paying more to get your house fixed than it is worth selling it for.
This is where you need to get smart. Should you repair the home your self? Well if it needs extensive repairs and you do not have the money to get it done or it will cost too much, that answer is clearly NO! You would end up spending all that time, months maybe, getting the little things done, hiding the cracks with some paint, only to break even at the end or worst. What you should do here is sell your house as is. Put the hammer away and think. Is it really worth your time and effort?
Here at InvestorWize.com we buy houses as is. Give us a call and well give you a quote on what we can buy your house for. We base our estimations on what the house WILL be worth after all the repairs are done and can use creative real estate investing techniques to buy your home even in the roughest of conditions or situation. If you need to sell your house as is. We are your go to guys!