Selling a fixer-upper can seem like an overwhelming task, but it's entirely possible with the right approach. Whether you're dealing with an older home in need of repairs or a rental property that has seen better days, understanding your options is key to ensuring a smooth sale. In Minneapolis, many homeowners are faced with the decision of whether to invest in repairs or sell their house "as is." Here’s a guide to help you navigate the process of selling a fixer-upper house fast, from assessing the condition to exploring your selling options and listing your house effectively.
How to judge a fixer-upper’s condition
The first step in selling a fixer-upper house fast is to assess the property’s condition. This will help you understand what needs attention and decide whether to make repairs before listing the home or instead sell it “as is.”
Start by looking at the structure of the house. Heavy snow and ice take a toll on Minneapolis roofs, making roofs one of the most common problem areas here. Similarly, winter freezing and thawing in Minnesota has been known to cause foundation damage in many homes.
Then move on to critical systems like plumbing, electrical, and HVAC. Lastly, consider cosmetic issues like outdated fixtures, peeling paint, and worn flooring.
For a more thorough understanding, consider hiring a professional home inspector. This inspection can uncover hidden problems, such as mold, water damage, or faulty wiring, that could affect a buyer’s decision. Knowing the extent of the repairs your house needs will help you decide whether it’s worth fixing or should be sold “as is.”
Should you make partial improvements on a fixer-upper house?
If you're considering making repairs to increase your house's value but don’t want to tackle major renovations, you can focus on smaller, cost-effective improvements. Cosmetic enhancements like painting walls, replacing outdated light fixtures, and improving curb appeal can make a big impact with minimal investment. Here are some small upgrades to consider:
- Repaint the interior: Fresh paint can transform a space and make it feel more inviting.
- Boost curb appeal: Simple tasks like trimming overgrown bushes, keeping the yard mowed, and repainting the front door can improve first impressions.
- Small cosmetic updates: Updating fixtures, replacing outdated curtains, and swapping out yellowing outlet covers are minor fixes that can go a long way.
- Deep clean and declutter: A clean, clutter-free space feels larger and more appealing to buyers. Consider pressure washing outdoor areas.
Putting a fixer-upper house on the market
If you're selling a fixer-upper through the traditional real estate market, effective marketing is important. Start by highlighting the property's best features, like a large yard, good location, or historical charm. High-quality photos are crucial, even if the house needs repairs—buyers want to see the potential.
Minnesota law requires sellers to disclose known issues with the property. This is especially important when selling a fixer-upper. Buyers appreciate transparency, and disclosing any structural problems, water damage, or other issues can help avoid legal complications down the road.
Being upfront about your home’s condition won’t necessarily hurt your sale—many buyers looking for fixer-uppers expect to deal with some level of repairs.
Ways to sell a fixer-upper house fast
If speed is your priority, there are several strategies you can use to sell your fixer-upper house fast in Minneapolis:
- Price it competitively: Setting the right price is key. Consult a real estate agent or appraiser to determine a fair price based on your home’s condition.
- Offer flexible terms: Consider covering some of the closing costs or offering flexible payment options to make your home more appealing to buyers.
- Sell to an off-market buyer: Selling to a direct buyer like We Buy Ugly Houses® is one of the fastest ways to sell a fixer-upper. Direct buyers can make an offer and close quickly without requiring repairs or an inspection.
Should you fix up your house or sell it “as is?”
Once you know what needs to be done, the big question becomes: Should you fix up your house before selling, or sell it in its current condition? There are pros and cons to both approaches, and it largely depends on your time, budget, and goals.
Advantages of making repairs:
- Higher selling price: Houses that are move-in ready tend to attract more buyers and fetch higher offers.
- Larger pool of buyers: Many buyers are unwilling to purchase a home that needs significant repairs, so fixing up the house can broaden your market.
- Easier financing for buyers: Lenders may be hesitant to approve loans for homes that don’t meet Minimum Property Requirements (MPRs).
Advantages of selling “as is”:
- No repair costs: Major repairs can be expensive and time-consuming. Selling “as is” eliminates the need for any upfront investment.
- Faster sale: Selling a fixer-upper in its current condition can speed up the sale process, as you won’t have to wait for repairs to be completed.
- Attracts investors and off-market buyers: Many real estate investors, including house flippers and off-market home buyers, are specifically looking for properties they can purchase “as is” and renovate themselves.
If you’re facing time constraints or don’t have the resources to make necessary repairs, selling your home “as is” to a buyer like We Buy Ugly Houses can be the perfect solution.
We buy Minneapolis houses “as is.”
Our Minneapolis team buys a wide range of properties in the Twin Cities area. We have purchased turnkey single-family homes, rental properties in dire need of repair, and everything in between. We buy houses “as is” and can sometimes close in as little as 3 weeks. Our local reviews are excellent, and we have been in the business of buying houses across the country for 25 years.
Fixer-uppers can be a lot of work. Before you put in the time and effort, get in touch with We Buy Ugly Houses!
