Selling an unfinished property can be a daunting task. Buyers are often hesitant to purchase a property like this because they are unsure of the actual value and don’t want to be stuck with a money pit. Besides, most people want a move-in-ready home, not a fixer-upper.
If you mean to sell an unfinished property, don’t get discouraged yet. The bright side is that there are plenty of interested buyers out there. Plus, there are certain steps you can take to increase your chances of success.
7 Tips To Help You Sell Your Unfinished House
You need to connect with the right people to sell your unfinished property. Having a good relationship with your local real estate agent is a great place to start, but the one you need to focus on is your potential buyer.
The first step is to get to know them. Ask about their needs and wants in a property. What is their budget? What kind of timeframe are they working with? Are they cash home buyers?
The second step is, to be honest with them. Don’t try to hide the fact that the property is unfinished. If you’re upfront about the repairs that need to be made, they’ll be more likely to trust you and consider making an offer.
The third step is to be flexible. Remember, they are the ones making the purchase – not you. If they want to lowball you on the price, be willing to negotiate. If they want to come to see the property at an odd hour, accommodate them. The more flexible you are, the more likely you can persuade them to see the benefits of your offer.
Be One Step Ahead
For this step, you can list factors that may interfere with the sale of your unfinished property and then find ways to resolve them. For example, in case of the unfinished aspect, you can offer a discount on the home to encourage buyers to take on the project.
It would help if you also made an effort to increase curb appeal. This first impression is key in real estate, so do whatever you can to make your property look its best from the street. That may include power washing the exterior, painting the trim, and mowing the lawn.
When presenting a product to potential buyers, your approach should be strategic. You must think about how to market your unfinished property in the most appealing way possible. To achieve this, you could:
Use attractive photos that highlight the potential of the property
Write a compelling description that showcases its best features
Invest in targeted online advertising
Create a website or blog
Host an open house
You have to invest time and money in marketing your undone residence if you want to sell it quickly. There are several ways to market a property, but some methods are more effective than others. One of the best ways to market your property is through online listings. This gives you a chance to reach a wider audience and get more eyes on your property.
Another great way to do marketing is through open houses. When you host an open house, you use a great way to generate interest and get people talking about your property. Everything is about marketing, your buyer could be closer than you think, but you will only find them if you put in the work.
Helping With Numbers
As the saying goes, numbers don’t lie. Investing in a professional appraisal will give you a realistic idea of what your property is worth. That’ll help you set a fair asking price and avoid leaving money on the table. Getting a repair estimate from a contractor is also a good idea. This way, you’ll know exactly how much it will cost to fix up the property and can factor that into the sales price.
Requesting financing from the bank to purchase an unfinished house is way more complicated than when buying a regular property. In those cases, cash home buyers are usually the best option.
Avoid A Daunting Sale And Sell Your House To Easy Sale Home Buyers
At Easy Sale Home Buyers, we are experts in selling unfinished properties. We understand the challenges and complexities that come with selling an undone home. If you want to learn more, click on the link below.