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Submitted by: Clay Davis
When you buy a piece of property in the hope of fixing it up and later selling it, there are certain tips you should take into account. Buying a fixer upper can be extremely profitable if you know what you are doing and are able to do so the right way.
Certainly the notion of picking up quick, under-priced home deals and selling them at incredible profits has high appeal and is driven by TV spots that promote similar investments. But for most beginners who are not necessarily adept at spotting good opportunities and then marketing their renovated versions, attention to the finer points of the process are imperative.
When someone is looking at your home for the first time as a potential buyer, the sale can be won or lost within the first fifteen minutes. You want to give the buyer something that really stands out and can make a statement among the other homes in the neighborhood.
Buyers usually know right away if they are going to love or hate it, so do your best to sway them in your direction. This means thinking long and hard about what you are going to say in your “sales pitch.” Make sure you describe all the important information about the home that would concern them. This includes any extra information involving the neighborhood and surrounding areas.
It is important to flaunt all the updates you have made and amenities added to the home. If the home is near great schools or trendy neighborhoods, let them know. You want them to be able to see themselves living in that home, so be sure to show off all the great selling features such as a new bathroom, updated kitchen, or brand new master suite.
Be prepared to answer any questions they throw at you, even about the design of the home or important utility issues. One of the most negligent things you can do as a seller is not know the details of your home from top to bottom – do all the research you need to sell it quickly and efficiently. Even if you have never lived in the home that you fixed up, you should convey the value of such a great piece of property and that you love and cherish it.
Another crucial tip is to choose the right real estate agent. If you have never bought a fixer upper to sell a couple of months later, then this is pertinent to making sure everything goes smoothly.
Ask the important questions of your agent before selecting the person, such as how long they have worked in the field and if they have ever sold a fixer upper. You also want to verify the agent has sold a considerable number of homes and actually has the skill to do so.
Finally, the last tip to selling a fixer upper is invest the effort and funds to make the home worth selling. Along with the right cosmetic touches and a great real estate agent, you’ve got to do work in areas of the home that are most important to buyers.
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Source:
isnare.com
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