We often develop this sense of Wabi-Sabi for our own home, which basically means that we view it as perfectly imperfect. It’s a major factor that comes to play when we decide to sell our home and a part of what makes selling so difficult. Now you’re probably wondering how this all ties together to sell a house in poor condition. You see, no matter how perfect we view our own home, a typical buyer will most likely only see the imperfect side of things. We have to understand that at the end of the day, what we are truly selling is the bricks, the wood, the land, and the opportunity for someone else or another family to develop their own sense of wabi-sabi for their next home.
That realization comes with an almost sobering effect, and you start to uncover more of the flaws and work your home may need. Would you buy your home as-is at the moment? Honestly, a home purchase will be one of the largest investments someone will make in their life.
Selling a home has become insanely easy in 2021, but knowing if this type of market will continue into 2022 is something no one really knows at the moment. The best thing to do is to look back to what has always worked when preparing a home for the market. Sure you should make sure the home is clean and functional to the very least. Of course, it doesn’t hurt to go the extra mile and upgrade the interior of the home to keep up with current trends. But what if you don’t think your home is anywhere close to being clean and functional? Let’s go ahead and break down what constitutes a home in “poor” condition, and how you can still manage to sell a home no matter what state it may be in.
Is my home actually in Poor Condition?
Poor condition is a term that holds a different meaning depending on what market you are in. For an area that has a lot of new construction and development happening, poor condition can literally be a house that was built 10 years ago and is out of style. However, for a much older area, poor condition may simply mean that the home is uninhabitable. So I have broken down three categories that generally dictate what a home in poor condition means.
- The house does not pass city inspection:
The job of an inspector is to let the buyer know if the house is functioning properly, and if it will most likely stay that way for the next 5-10 years. This means that the roof, foundation, plumbing, electrical, and sometimes the central ac and heating will hold strong for a good while after the buyer finalizes a purchase. They are also there to make sure that the home meets standard safety guidelines that may relate to mold, termites, lead or asbestos, and any chimney, window, or door malfunctions.
- The house is not “keeping up with the Joneses”:
Unfortunately, if you are in area that is constantly developing and bringing the latest trends or greatest designs, you almost always have to try to keep up. Your house is located in an area where the buyers are picky and anything that is outdated can and will be used against you. Many agents will advise their clients to take all the necessary procedures to update their property correctly in order to compete in this type of market. The suggested renovations can be as simple and small as updating fixtures to something as big as updating the floors, bathrooms, or kitchen.
- The house needs a little more T-L-C:
It’s pretty common for a home that has been lived in to show signs of deferred maintenance or come with a few dings. The systems of the home may be old, but they may just last another 5 to 10 years. The only thing this home really needs is a good deep-cleaning and a bit of touching up. These are the most common type of homes and usually, most sellers end up in this category. The main difference between a poor condition property and fair condition property is literally how dirty or messy the home looks.
Can You Really Sell a House in Poor Condition?
The short answer to that question is yes. There will always be a buyer out there for your home. The real question that usually comes to mind is, “How much will I make selling my home?” This actually goes more in-depth into what you are willing to do to maximize the price you get back for your property as well as how much time, money, and hassle you are willing to spend doing so. The good news is that most homes out there just need minor updating or a good cleaning. This is something that is highly affordable and does not take much time. However, if you have a home that will most likely not pass inspection, you can always sell to an investor that will spend the time and money to get the home to tip-top condition for you. In addition to that, it doesn’t hurt to spend time decluttering and cleaning the home as much as possible before showing it to an investor to try to maximize the offer you get in that aspect.
Selling A House in “As-Is” Condition
Look, I get it, sometimes leaving the home as-is can be the best option you have. There is still a buyer out there who would pay you for your home just the way it is. You just may have to discount the price of the home enough to justify its current condition or circumstance. In rare scenarios, time is of the essence, and there may be situations that make you want to sell your house fast and that means doing absolutely nothing to the home. Please understand that these scenarios are often extreme and do not leave much time for either buyer or seller. You could find out that you just inherited a hoarder home on the other side of the country that had been late on taxes for the past 7 years. If that home is on the auction block, you are literally trying to navigate something virtually that may affect you financially in a very short amount of time. Life happens and you cannot just drop everything that is going on to deal with something that complicated. Sometimes, it just makes more sense to reach out to a real estate professional that is reputable, trusted, and able to help you navigate these complex events. The only concern that professionals may have would be having to buy the house quickly in order to save the house from foreclosure which does draw some level of risk, hence, having to buy the house at a fair enough price to justify the purchase.
Important Points to Consider
- Learn your home’s value: No matter the condition of the home, there will be a buyer that will be willing to pay a price for the home. You can generally get this information by requesting a valuation from a realtor or an investor.
- Get an inspection if necessary: Having your own inspection report can help you strategize how to proceed. If you know your house needs major repairs, it might be more advantageous to approach an investor vs. a real estate agent to sell your home.
- Always make your home as presentable as possible: Remember the key to selling your home is to make your home appear clean and functional. Even if your home isn’t functional, the least you can do is to clean the house enough to make your buyer feel good about their purchase decision.
- Disclose any issues that you know about the house: Honesty is the best policy and, it helps to address any concerns that will arise in the inspection. It will definitely help you save time when finding the right buyer. Trust me, you do not want to enter into a lengthy contract with a buyer only to have them find out issues down the road about the house and be forced into a situation that involves re-negotiating. It is a major time waster.
- Work with someone reputable and trustworthy: In the case that you are looking to sell your house fast in poor condition, you are most likely going to have to discount the home considerably.
Find a Houston Real Estate Investor | Ricky Pok | Wabi Sabi Realty Group
As always, it is important to do your due diligence when deciding to work with someone regarding selling your house. I started Wabi Sabi Realty Group as a way to help distressed clients with special circumstances that as a mortgage lender, I couldn’t help otherwise. I was always troubled about how we had to decline or send the clients to an investor just because they were facing a situation that became way too complicated.
At Wabi Sabi Realty Group, we buy homes in any condition for an all-cash offer, without any fees or inspections. We have years of experience in the Houston, TX market, and are also dedicated to seeing all transactions through. We are willing to invest upfront on transactions to make sure there are no complications during the home selling process.
If you or someone you know is dealing with an issue that may require a real estate investor, please do not hesitate to reach out. Even if you believe that a real estate agent may be better suited, still feel free to reach out and I can definitely put you in contact with the top agents in your local market. For more information about how we can assist you, please give us a call at 281-306-5721 or fill out the form. We will be happy to talk to you about how we can buy your house for cash and close at a time that is convenient for you.