Are you considering whether to sell a property that needs repairs?
This article explore whether selling it ‘as is’ is better than starting a refurbishment project.
Table of Contents
Understanding Your Options
Before we go into the details, let’s consider your options.
You can either sell your house as-is, make some repairs, or renovate extensively. Each approach has its pros and cons, and the right choice depends on your situation and goals.
Tips on Selling a House That Needs Work
Here are some actionable tips to help you sell your house quickly and efficiently:
- Disclose everything: Be transparent about the property’s condition and any known issues. This will help build trust with potential buyers and avoid any legal disputes down the line.
- Highlight the positives: Accentuate the house’s best features, such as its location, natural light, or original architectural details.
- Provide estimates: Offer buyers a detailed breakdown of the costs of any necessary repairs or renovations. This will help them make an informed decision.
- Stage the property: Arrange the furniture and decor to showcase the house’s potential, even if it needs work.
- Be flexible: Be open to negotiations and consider offering incentives, like a credit towards repairs or a home warranty.
Factors That Reduce the Value of a Property in the UK
There are several factors that negatively impact the value of a home that needs repair work. Some common issues that reduce the value of a property include:
- Japanese knotweed
- Cracks in the ceilings or walls
- Uneven floors
- Damp and mould
- Dry rot
- Poorly fitted doors or windows
- Leaking roof
Depending on severity, these problems can slightly or significantly decrease the market value of your property. Issues like Japanese knotweed will require specialist treatment over several years, which are costly but a necessary fix. These issues can make a house unsellable.
Should I make repairs before listing my house?
- Identify critical issues that could impact the sale and address them.
- Consider the cost-benefit analysis of making repairs versus selling as-is.
How can I attract buyers who are willing to take on a fixer-upper?
- Highlight the property’s potential and best features.
- Provide estimates for repairs and renovations to help buyers make an informed decision.
Essential Repairs That Add Value To Your Home
If neglected, a list of repairs within a home can add up over time. These can turn into more serious problems if you are unable to afford repairs. For instance, gutters blocked up with leaves and residue can result in dampness penetrating the walls. Similarly, a slow leak in a bathroom can destroy the wooden floorboards.
If you need to sell your property now, these are some of the jobs you should address to get the best price on the open market:
- Painting
This is an affordable way to improve your property, both inside and out. Choose neutral shades to appeal to a wider range of potential buyers, and repaint rooms that are dark or need refreshing. It is also worth cleaning window frames, glass and doors to remove any scuff marks.
- Kitchen and bathroom
Kitchens and bathrooms help sell homes. It is worth cleaning the grout or if necessary re-grout to give it a fresh look. Fix any leaky taps and give them a good deep clean.
- Lighting
Ensure your home is well illuminated and if possible use bright clear LED lights. Not only these will keep costs down, but they will also show off the best features of your property.
- Removing carpets
If you have an older property, pull up the carpets to see if you are hiding a beautiful floor underneath. If this is the case, give it a good sand down whilst wearing a face mask and then polish it.
What makes a house difficult to sell?
An unloved home requiring refurbishment is much harder to sell than one that is ready to move in. If a property needs work, it will put off any potential buyers.
Should You Refurbish a Property Before Selling?
Homeowners buy a house intending to refurbish it. Life gets in the way and often they don’t get around to taking care of the necessary work before selling it.
The asking price for the house will reflect the amount of work that has been done and the amount that hasn’t. However, there are steps you can take to attract a buyer who sees the potential in the property and is willing to take on a refurbishment project.
The important repairs to consider are the ones that are immediately noticeable. If you have an old wooden front door replacing it with a composite door will make it more secure.
Consider any issues that would be identified in a survey of the property. Are there any damaged walls, internally or externally? Are there any missing roof slates or problems with the chimney? Are the bathroom and kitchen in good condition in terms of fixtures and fittings, as well as cleanliness? Are there any leaks or issues with the boiler?
If you don’t know how to tackle a refurbishment – perhaps you don’t wish to invest time, and money or deal with the hassle then this is where Property Saviour can buy your home as it is.
Don’t try to hide any issues, as they will inevitably come to light in a survey. If you can’t afford to fix them yourself, be honest with any potential buyer. If they’re made aware of any issues from the outset, it will be easier to negotiate the cost of repairs into the asking price
Who Is Responsible for Repairs After a Sale?
As the seller of the property, it is your responsibility to inform the buyer of any repairs. However, after the exchange of contracts, it is the buyer’s responsibility to have the repairs completed.
As long as the seller has properly disclosed all relevant information, they are not responsible for fixing the issues.
Deciding Between Refurbishment and the Sale
Consider how you wish to sell your property, as there are several methods available to you. We’ll break them down including their pros and cons to help you make an informed decision:
- First-time buyers through an estate agent
They will be nervous about buying a doer-upper particularly if a property requires full modernisation with a new kitchen, bathroom and electrics. They will be heavily reliant on the opinion of a surveyor and whether or not their bank wants to lend funds against your property. There is no guarantee of a sale completed meaning that you could leave thousands of pounds out of pocket in terms of mortgage payments, council tax, insurance and bills if the sale falls through.
- Property developers or landlords through a property auction
- Sell your house ‘as is’ to a professional cash house buyer such as Property Saviour
If you are selling a house that needs work then Property Saviour is the one to trust.
Property Saviours are specialists in buying any type of property regardless of its condition. We provide you with certainty and speed of sale. We will cover up to £1,500 of your legal fees and complete it within a couple of weeks or quicker. With so many genuine seller reviews, we are the ones to trust.
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
