Fixer-uppers: Selling your house “as is” in Atlanta

Fixer-uppers: Selling your house “as is” in Atlanta

Selling a house can be overwhelming, even at the best of times. But sometimes, you’re dealing with a house that has some issues. Foundation cracks, roof leaks, burst pipes—all of these things can really throw a wrench into your home sale plans.  

If you have a fixer-upper and are considering selling your Atlanta house “as is,” you should know how the condition of your home affects your sale.  

Things to keep in mind when selling a fixer-upper 

When you sell your house as a fixer-upper, you can expect a home sale with: 

• A longer time on the market: If you’re selling a house that needs work, you may need to budget in additional weeks, if not months, of time on the market. Even if you decide to fix the problems before you sell, completing home repairs or renovation projects could take several months.  

• A smaller pool of buyers: Most buyers in Atlanta prefer homes in good condition. Because of this, you will find that the number of buyers interested in purchasing your property is most likely lower than it would be if your house was in perfect condition. 

• Potential financing issues: When you sell a house that needs work, you may have financing issues, depending on the buyer’s lender. Most lenders have strict requirements regarding the condition of the property. A typical buyer on the traditional real estate market will need to buy a house that meets these requirements to qualify for a home purchase loan.  

Should you repair your house before you sell it? 

If you don’t want to deal with a home sale that comes with additional complications, you may want to consider making some home repairs. There are certain issues that the average homebuyer won’t want to deal with, like foundation or roof issues. Water damage can often be a hassle for potential buyers, too. If you’re thinking about making repairs, you will need to consider budgeting for cost and time. Home repairs can cost anywhere from a couple hundred to several thousand dollars. 

Even if you decide against making repairs, you will want to provide disclosure to buyers. Disclosure is the provision of the full known history of the house, including any past or current repairs. You aren’t required to provide an official seller’s disclosure form to buyers in Atlanta, but it is in your best interest to provide one. This helps prevent potential legal issues later down the road. Whether you choose to provide a seller’s disclosure form or not, you are required to honestly answer any questions the buyer asks, according to Georgia law. 

How to sell a fixer-upper 

You may need to figure out the best way for you to sell a house in Atlanta that needs work. What is the current real estate market doing? If it’s a hot market, it’s easier to sell, even when your house is a fixer-upper.  

A hot market is also known as a seller’s market and is distinguished by having low housing inventory coupled with high buyer demand. The inverse of that is a buyer’s market. To determine whether you’re in a buyer’s market or seller’s market, you should look at your local comparable home sales. The number of homes sold, the prices the homes were sold at, and the rate of change for home pricing will help indicate the type of market. 6 months of inventory available is considered a "balanced market" in most cases. 

Depending on the state of the local real estate market, your access to funds, and your intended selling timeline, you could:  

• Fix before you sell: One option you have is to make the necessary repairs before you start the selling process. Many buyers prefer move-in ready homes, but keep in mind that it may take a significant amount of time and effort to get your property ready to sell on the traditional market. 

• Sell without making repairs: If repairs sound too time-consuming, you could also sell your house “as is.” When you sell “as is,” there is an understanding that the buyer is purchasing the property in its current condition. When you sell a fixer-upper, you might have to lower your sale price or offer contingencies. You can sell your house “as is” with a real estate agent who specializes in selling homes that need work, but many sellers choose to make a direct sale to an individual investor or home-buying company when they sell a home “as is.”  

Sell your house “as is” to HomeVestors^®. 

When you want to sell a fixer-upper house fast, work with HomeVestors^®, Atlanta’s premier home buyers. With our 3-step home-buying process, we can take you from offer to closing quickly, sometimes in as little as 3 weeks.

1. Get a free consultation: One of our local property specialists will come over for an assessment of your property, free of charge.

2. Receive a fast offer: Once we’ve evaluated your home, including its conditions and features, we are able to provide you with an offer that comes with no obligations.

3. Schedule a quick closing: Upon acceptance of an offer, we do our best to determine a closing date that fits your selling needs.

When you sell to HomeVestors^®, you can: 

• Sell your house quickly and conveniently. 

• Get a fast offer.  

• Avoid making unnecessary repairs or renovations.

Are you thinking of selling your house “as is” in Atlanta? Reach out to HomeVestors^® today for a free consultation toward a fast offer.