Maybe it was an investment project that you now have neither the time nor inclination to see through to the end. Or maybe it’s a less-then-pristine house you inherited and don’t want to pay taxes and insurance on. Whatever the case, you now have a fixer-upper on your hands that you need to sell fast. You may be hesitant to put it on the market because it needs work – repairs, upgrades, and renovations. Still, even if you don’t have the time or money to fix it up, you can still sell that house pretty quickly. Here’s how to sell your fixer-upper house fast in Los Angeles.
Know Your Target Market
The first and most important step to sell your fixer-upper house fast in Los Angeles is to know your target market – that is, the buyer pool, the people who would be motivated to buy your fixer-upper. This will allow you to focus your marketing on and deal only with motivated buyers.
These are people looking for relatively inexpensive houses in order to fix them up and resell them fairly quickly at a (hopefully) profit. By definition, they are in the market to buy fixer-uppers, and when they find one, they typically want to close fast. Because flippers are profit driven, their primary objective is to buy as low as possible. This means that you really should have a good agent so that you don’t wind up selling too low simply because your house is a fixer-upper. You don’t want to make any desperate moves because your house needs work – there will always be plenty of flippers interested in buying it.
Another major segment of your target market when you want to sell your fixer-upper house fast in Los Angeles will be made of up of remodelers. These are motivated buyers who haven’t been able to buy a house with the features they want in the desired area because the houses just aren’t available or they have been snatched up too fast. These buyers, then, are willing to buy a fixer-upper if it meets the location and features criteria.
This part of your target market includes people who want to buy a house in a certain area, but can’t afford the standard prices. These buyers, according to one top real estate site, want “to live in a specific location, neighborhood, or part of town but can’t afford the average list prices in those areas. For them, buying a fixer-upper is their ticket into those prime neighborhoods. They’re willing to invest in a property that needs renovating just because of where it sits on a map.”
Clean It Up
Another thing you can do to sell your fixer-upper house fast in Los Angeles is simply to clean it up. Just because it needs some repairs, doesn’t mean it should be cluttered and/or dirty.
Decluttering, of course, is essential, but don’t neglect to clean those windows. Cleaning and decluttering specialists have found that 95% of people viewing a home’s interior go to the windows right off to look at the view.
And don’t forget curb appeal. You don’t have to go in for full-blown landscaping, but you do need to take of the basics like mowing, raking, cleaning beds, and touching up paint. A Texas Tech University study showed that improving curb can increase the value of a house by as much as 12%.
Highlight the Positive
If you really do want to sell your fixer-upper house fast in Los Angeles, you have to highlight the positives. It may need some renovations, but it still has features that will appeal to buyers. So make a point to highlight and emphasize these – for example, point out all the extra storage space and draw attention to the uniquely attractive fireplace.
Your marketing, then, should concentrate on the house’s best features. “That means,” the experts agree, “your listing should describe things like closet size, the master suite, a fireplace, a patio, storage, an open floor plan, great views, a home office, big windows for natural light, and garage space.” Also, make a point to mention the pluses and amenities of the neighborhood.
Price It Right
You also have to price it right. A house that needs work has to be priced appropriately to sell fast, but it shouldn’t be priced too low either. Both prices that are too high and those that are too low will make a fixer-upper unattractive to potential buyers. Buyers have to be able to get it at a price that will permit them to afford the necessary renovations. But if that price is too low, they will assume there’s more wrong with the house than there actually is. And this is where your real estate agent will prove her worth.
A good agent can help you figure out the current value of the house and also its value after it has been remodeled. With these figures, you can arrive at the best price for a fast sale and the most money in your pocket. Really, a qualified agent becomes almost a necessity when you need to sell your fixer-upper house fast in Los Angeles. We have the agents who can provide the help you need.