How to best sell a house even if it’s in bad condition

How to best sell a house even if it’s in bad condition

Homes need constant care in many ways and keeping up with property maintenance is a never-ending job. When you decide to sell your home, it’s time to address the issue: problems like a leaky roof , cracked flooring, aging electrical system or structural cracks will set alarm bells for potential buyers. “Most homeowners don’t recognize the amount of work that needs to be done on their home until they start packing.” This sentence, from an American colleague of mine, fully hits the mark

But how you choose to sell a home that comes in bad shape really depends on your personal goals, timeline, and your financial situation.

Do you need to sell quickly and accept a discount or would you rather invest some time and money to get a higher price? In this guide, I’ll help you evaluate what state your home is actually in, determine what repairs and updates you should make, and strike a lucrative deal with the right buyer.

I am referring to dilapidated houses which are certainly not usable immediately by the new owner, as it could be for properties in fair condition.

Homes that fall into this category have a bad rating and have multiple problems that make them immediately uninhabitable, including:

Major electrical problems (wiring, outdated pipe; frayed wiring; tampered with electrical panel, no system certification.)

Serious plumbing problems (leaks, corroded pipes; non-functioning water heater; missing or malfunctioning boiler or heating system.)

Major and/or extensive roof damage

Black mold and damp from leaks and/or seepage

Lead and / or asbestos

Termite infestation

Severe and/or extensive foundation problems

Severe and/or extensive damage to floor slabs and floor

Damaged or missing heating system

Unusable bathrooms and kitchens

Visible repairs needed and to be made.

A habitable house but with the signs of aging, which has various defects and problems that require repairs, even if deferable, can be considered in “fair condition” . However, many buyers and their advisors will still consider it “in bad shape” if it has many of these characteristics:

Some electrical problems or system not up to standard

Some plumbing problems or non-compliant systems

Significant roof damage

Deteriorated wooden window frames.