A damaged home in Memphis can be a nightmare to sell. Most buyers are not interested in taking the risk when there is visible damage on a listing, and if they do, they may take a chance and toss an insultingly low number out to see if it sticks, which can be rather disheartening for sellers. Some believe it indicates a bigger maintenance issue that could prove problematic in the future. You might be asking yourself – Can I really sell a damaged home? The answer is Yes! You might not get as high a price as you would if the house was in good condition, but it takes a lot of time and expense to get the home up to good condition and out of your hands. If you’ve got a damaged home and want to make the sales process less stressful while earning the most profit, read on as we explore six smart tips to help you sell a damaged home in Memphis.
Pricing
There are many homes on sale in the market today, but few are priced correctly. They think that they should price it low based on the damage that has been done, but this is not correct. Suppose that your house has been damaged by fire, the first step in pricing a house damaged by fire is to have it inspected by a licensed contractor. The contractor will be able to give you a cost estimate for the fire structural repairs that need to be made. Be sure to factor in any residual smoke or water damage and the cost of replacing any lost or damaged possessions. You can check more about what factors influence the cost of fire damage remediation. Once you have an idea of the value of your house, you can price the house based on the repairs. If the damage is extensive, it may not be worth repairing the house at all. In that case, you would need to sell the property as-is. Professional buyers like those at Memfixerupper are happy to help you determine the right price to sell a damaged home in Memphis and can help you understand your competition, which plays a role in determining the price and based on that give you a cash offer for your house and buy it.
Don’t Hide Anything
Remembering the legalities of disclosure laws where sellers must update to address any material changes that have taken place since the original date of disclosure, or to confirm to the buyer that the original form is still accurate, our next tip will to be aware about the condition of your house, and any other damages that may have occurred in the past. Professional buyers like those at Memfixerupper can help you understand the potential expenses and timeline to correct any areas of concern. At Memfixerupper, our professional buyers work with a team of skilled tradespeople and professionals to provide reliable data for their offer. At Memfixerupper, we practice total transparency and lay every detail on the table for sellers.
Minor Repairs
After getting a home inspection, you may want to consider making repairs to improve the condition of your home. This can include fixing leaky roofs, repairing plumbing issues, or addressing any structural damage. Another tip to help you sell a damaged home in Memphis is to improve the appearance by making minor repairs to increase the value of your home and make it more appealing to potential buyers. Professional buyers like those at Memfixerupper can help you understand where to focus your repairs on gaining the most from your investment in your damaged home. Our professional buyers at Memfixerupper want you to agree that their offer is fair. At Memfixerupper, we’re your neighbors who live and work alongside you here in Memphis, and we want to make a deal you’ll feel good about long after closing.
Targeting Your Market
Understanding your target market is our next tip to help you sell a damaged home in Memphis. For damaged homes the target must be investors interested in buying and renovating homes. A very good option are Cash buyers, who purchase homes as is. Professional buyers like those at Memfixerupper can alleviate your concerns about making repairs because we buy homes needing repairs or total rehabilitation for a fair offer.
Know Your Options
Gathering the information on your selling options is the next tip to help you sell a damaged home in Memphis. If the extent of the repairs is minor and you have the time, finances, and emotional fortitude to tackle the job, it may be well worth the additional profits. Professional buyers like those at Memfixerupper will help you compare your profits from listing vs. a direct sale. At Memfixerupper, our professional buyers will help you determine which works best for your circumstances, even if it’s listing with an agent.
Memfixerupper
Our final tip? A direct sale to professional buyers at Memfixerupper is the smartest way to sell a damaged home in Memphis. At Memfixerupper, our professional buyers make it easy and simple to sell a damaged home fast, with a guaranteed closing date you can select. The pros at Memfixerupper work with a full-service in-house team of professionals to make the process efficient. At Memfixerupper, sellers never pay commissions or closing costs. Call Memfixerupper at 901-450-5179.
Despite your damaged house in Memphis, it is still possible to sell it, especially since there are many potential buyers in our area. To achieve the best possible price, you simply need to assess the necessary repairs and their cost, taking into account the competition in our neighborhood. We recently spoke with Shawn, one of our best Marketing Specialist on our Memfixerupper Team, who shared some insights into the current market in our neighborhood:
- What’s the current situation in our neighborhood in terms of the types of homes that are available? Are there more absentee homes, rental homes, or vacant homes?
In the neighborhood right now there are a lot of rental and vacant homes that are available for investors
- With the arrival of Spring, have you noticed an increase in the number of homes with “For Sale” signs in the neighborhood?
Absolutely! Compared to the last 3 months, right now there are more sale signs. It’s the magic of Springtime.
- Where is the best place to put a for sale sign?
Definitely in the front yard and close to the streets for more visibility.
- What do you find the most rewarding about being a part of the Memfixerupper Marketing team?
One of the most rewarding things about the team is how close we are as a staff. I like how understanding and flexible our CEO is.