Is your property in need of major repairs? If so, you probably already know how difficult it can be to sell a damaged house in Miami! Your pool of potential buyers will inevitably be much smaller so finding the right buyer will take longer.
Retail Buyers Prefer “Move-In” Ready Homes.
However, just because this is true doesn’t mean you can’t secure a successful sale in Miami. Check out the article below for some of our best tips for selling your house with code violations!
Estimating Repair Costs
If your house needs a lot of work, you’ll want to put together a good estimate of how much it will cost to renovate your home before anything else.
If you don’t know how much it will cost to make sure the property is “livable,” how on earth do you expect to price it correctly? Any interested buyer will expect the asking price to incorporate the cost of repairs, renovations, and cleaning.
And, if you don’t know these numbers, it will be impossible to correctly price the house for sale or negotiate when it comes to selling your house with code violations in Miami.
NOTE: If you can’t do the estimations yourself, hire a contractor to determine the true cost of your code violations.
Finding The Right Buyers
Not everyone is in the market for a fixer-upper property, especially when there are major repairs required. As we’ve already mentioned most standard buyers (aka retail buyers) are looking for a home, not a time-consuming renovation project.
Finding the right buyers can take time, especially if you decide to list your property with a Miami real estate agent. Agents normally have more experience with move-in ready family-style properties, and chances are they won’t be very determined to throw themselves into selling a property that won’t yield much of a commission fee.
Price The House To Sell
We briefly mentioned this above, but a Miami house with code violations needs to be priced to actually sell. The last thing you want is for a rundown, damaged property to sit on the market for months on end. It’s hard enough to attract buyers when this happens to a superb property let alone a house that requires the buyer to invest their time, money and energy.
Plus, if the problems with the property are severe, many lenders won’t finance a loan for the property, forcing bank-reliant buyers to withdraw their offer.
At Sunshine State Buyers, our background and experience allow us to economically fix up houses, typically at a lower price than if you did the work yourself.
Fix The Smaller Things
Even if your house has major code violations you aren’t able to fix, taking some time to fix the smaller things can drastically impact the property’s perceived value.
You can fix holes in the wall, chipped paint, and cracked tiles to make the house look more presentable. This leads us straight into our next point – clean the property.
Have The House Cleaned
It may feel counterproductive having the house cleaned if there are major code violations throughout the building. However, doing so will lessen the initial shock of just how much work your house needs and make the property appear more appealing to potential buyers.
Being surrounded by filth will give the property a horrible first impression. Hire a professional cleaning company to make sure no spot is left unturned. If a buyer is looking for a property to renovate as a personal project, they may be less inclined to choose your house if it’s absolutely filthy.
Emphasize The Good
A fresh coat of paint can transform even the most dated of properties. To market a property with code violations in Miami, try to highlight the property’s potential and everything right with the home.
Of course, you’ll still need to disclose everything up front, but by putting your best foot forward, you can help people see past the damage and necessary repair work.
Consider hiring a professional cleaning company, stager, and photographer. You could also offer schematics to help your potential buyer imagine what the property could become with a little work.
Sell Your House Directly
The MLS is best suited for market-ready modern homes. This isn’t to say that you can’t work with an agent and list an older or damaged property on the MLS. But you might discover that the agent-style of selling doesn’t suit your or your house.
Listing a property on the MLS involves marketing, staging, showings, continued upkeep. As we already mentioned, it’s still advised to clean your property despite it’s clear code violations.
If you avoid the agent-route and decide to work with a direct buyer instead, you won’t have to wait around for a buyer, not knowing when your house will sell or what you’ll be offered. You won’t have to pay agent commissions, fees, closing costs, and holding fees.