It’s common for sellers to spend a lot of time and money getting their homes renovated and repaired in hopes of increasing property values and getting higher offers. When done right, it works pretty well. But do you always have to repair your home before you try to sell it? What do the buyers think?
Traditional Buyers: Usually
Most traditional buyers are buying homes to live in themselves. These people are already borrowing a lot of money to purchase your home. They aren’t likely to be interested in buying a home that needs many repairs, at least not without a significant discount. More often, they’ll ask sellers to perform the repairs needed to get the home in good shape if the repairs haven’t been done already.
Cash Buyers: Sometimes
Cash buyers can go either way. Some of them are looking for homes for themselves and may prefer to purchase homes that they won’t have to spend time and money fixing once ownership transfers. Others are looking for good deals on homes and are willing to buy a home in less-than-perfect condition in exchange for a lower price tag. As such, you may find some cash buyers who ask you to make repairs while others do not.
Professional Home Buying Companies: Never
Professional home buying companies are a subset of cash buyers. As cash buyers, professional home buying companies like WNY Home Buyers already have the funds to back up their offers. These companies have built their businesses around buying houses and making money from them. Some make money by fixing and flipping houses, while others fix them up and rent them to tenants for a time before selling them. As such, homes in need of repairs are often ideal buys. If you sell your home to WNY Home Buyers, you don’t have to worry about doing any repairs at all. You don’t even have to clean the place if you don’t want to. We handle all of that after we take over ownership.
Most buyers have strong preferences about the condition they want the homes they purchase to be in. Some prefer that the homes be in pristine condition, while others are only interested in fixer-upper homes. Use that information to decide who your ideal buyers are. That will help you use your time as effectively as possible when selling your home.
Selling your home to a cash buyer like WNY Home Buyers isn’t like selling your home with a local real estate agent. Click here to see how the two differ today.