Can You Sell House With Massive Repairs Pittsburgh? Most Definitely Here’s How!
Massive repairs have historically made it incredibly challenging to sell your home Pittsburgh. Buyers typically face two issues when trying to buy this type of property. The first issue is that, in general, buyers do not want a fixer-upper unless it is a fantastic deal. If homes in the Pittsburgh area are going for $300,000, then a fixer-upper might have to go for $200,000 to attract interest. The second problem is that these houses often do not pass appraisal or inspection, meaning that banks are usually unwilling to lend money for their purchase. Regardless of these problems, it is possible to sell a house with massive repairs Pittsburgh!
Sell House With Massive Repairs Pittsburgh: The Traditional Approach
Traditionally, Pittsburgh homes that require this level of work would have had two possibilities. Either they would go on the market as-is, or the owner would fit it up and make it look nice before listing it.
The “as-is approach” is the most simple and straightforward. However, as discussed in the intro, this approach has quite a few problems. It is often really tough for people to obtain financing for these homes, which severely limits your prospective homebuyers. In 2016, only 28.6% of all sales were all-cash, and many of them aren’t on the traditional real estate market. Therefore, without obtaining financing, 70%+ of would-be buyers cannot consider your Pittsburgh property.
Given this, most real estate agents recommend the “fix it up” approach. However, this is not perfect, either. When looking to sell a house with massive repairs, you are probably looking at thousands, if not over a hundred thousand, dollars in repair bills. Most people do not have that kind of cash lying around.
As such, to fix the house to sell it, many people elect to take out a HELOC (assuming the home appraises). The problem is that now sellers potentially have a mortgage, a HELOC, and a bunch of utility bills, all on a property that they are trying to offload.
If the repairs lead to a quick sale, then they were worth it. That does not always happen, though. The average home in the Pittsburgh region takes 70 days from listing to closing. If your property takes even longer, that is a substantial time to sit with two large loan payments and utility bills!
There Is Another Great Way!
By selling to a Pittsburgh cash investor, you can bypass many of these problems. A cash investor will buy your home as-is. No repairs are needed! They will help sell house fast Pittsburgh without making any repairs.
The process is quite simple. You will contact the cash investor, and they will take all the information about your home over the phone. Most investors will give you a rough ballpark estimate over the phone. If that estimate sounds acceptable to you, they will send someone out to do an inspection.
The inspector will look your Pittsburgh home over. This inspection will be thorough as the representative looks for everything necessary to make a fair, reasonable all-cash offer. After the review, they will write out that offer for you.
Of course, there is no obligation, so you can always walk away if you do not like it. However, most people find that these offers are remarkably fair and usually wind up taking them.
The best part of this approach is that you can sell your house with massive repairs Pittsburgh and not worry about fixing them up! No HELOCs, no massive expenditures, and no mental stress of wondering if and when your home will sell!