So you have inherited this home and want to sell it for top dollar … this could be the one time opportunity in your life to score big and you have to play your cards very carefully. When you inherit a home, lots of offers will come to you from everywhere, especially from Real Estate Investors who will offer you cash$$$ and will buy the home “AS IS”, you will close in maximum two weeks, but … is this the best option? If you can wait a little bit to receive the money I can show you another way for you to pocket more money and it will not take a lot of effort. What I am talking about here is to sell your home on the open market, exposing it to as many buyers as possible who are trying to find a home like yours. There is not enough inventory of homes that could be a good deal to a buyer and believe me, there is a lot of motivated buyers out there who will be interested in buying your home IF it looks presentable and it is priced accordingly. These are the basic steps you need to follow if there is no money in the estate to do repairs or renovations to a home:
- Pressure wash all the outside of the house including driveways and decks.
- Leave the kitchen spotless. Clean cabinets inside and out and the appliances. You can replace appliances at a very low cost buying new ones in a second hand store.
- If your bathrooms are outdated, the only thing you can do is clean them and leave the toilet lead close for pictures. Nobody likes to see pictures of a bathroom with the lead open, especially if the toilet has been used. You would be surprised to see how many Real Estate Agents publish pictures of bathrooms with a dirty toilet.
- Pay a professional cleaning service to clean the carpet. The cost is low and it can make a big difference when buyers come to see your home. Remember that you are going to be competing against other homes on the market and you have to make buyers excited about buying your home versus the competition.
- Let as much natural light to come into the house as possible. Buyers prefer bright homes, dark homes take longer to sell. Open the blinds and let the sunshine come in.
- Price the house according to what it needs to have done. A home that needs cosmetic repairs and it is priced a little bit under market value will attract several buyers willing to pay your price.
- Take the right pictures. Hire an agent who does a good job taking pictures that make the house attractive to come to visit. You would be surprised to see how many agents do a very poor job taking the pictures and the house stays on the market without being sold just because buyers don’t justify paying your price after they see what your home looks like.
- Put an air freshener in the house. When the buyers come to see your home you want them to be comfortable and stay there for as long as possible. A home that smells good will allow buyers to stay longer looking around.
- Keep the AC on. Nobody wants to stay very long in a house that feels like an oven. Buyers want to be comfortable, allow that by keeping the house cool and fresh.
If you follow the steps mentioned here, you will sell your home quickly and will pocket more money than if you sell it to an investor.