Sell My House Fast, Tip # 2 for Saint Louis Homeowners
This is the second tip for Saint Louis Homeowners on how to "sell my house fast."
The first tip discussed the importance of figuring out who your buyer is going to be. Click here for the first sell my house fast tip.
The second tip to sell my house fast:
2. Look at your property logically, and analyze what needs to be updated/repaired.
Sometimes sellers will try to ignore or even hide house defects in hope that buyers won't notice. You should not lie to yourself and pretend a house is in great condition when its not. Buyers and their agents will notice these defects and it will cost you valuable time and money in the long run.
The first 30 days that a home is on the market is very important for a house sale. If you ignore the defects of the house, you are risking losing potential buyers and it is costing you $$$ out of your pocket to pay for the holding costs. And, if your house doesn't sell right away, you will have to lower your asking price gain interest back in your property.
I personally have made this mistake early in my investing career, and it cost me thousands of dollars. I rehabbed a house in Florissant, Missouri and decided to try and save some money by not replacing the windows. Three months later and $7,000 lower on my asking price, the property still hadn't sold.
I finally decided that the windows were in desperate need of replacing. Guess what happened?
The first person that looked at my house after I replaced the windows ended up buying the house. My property sold in one week with new windows. Incredible to think that just one improvement can make all the difference in the world.
Don't make the same mistake that I did. Analyze your house and what buyers in your area are looking for. If you can afford to, make the necessary improvements and sell that house fast!
Now, there are some circumstances where fixing up your home is NOT advisable:
1. The repairs needed are out of your budget and/or capability
2. You are upside down on your mortgage (own more on a home than what it is worth.)
3. You can no longer afford to hold on to the property.
For a great 'AS-IS' house sale guide click on the previous link. The Guide is broken down in to twelve parts and is packed with valuable information on selling a home that needs repairs.
There is also a great website for Saint Louisans who are upside down on their mortgage and need a short sale.
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