5 Tips On How to Sell Your Irvine Rental Fixer Upper
Have you been thinking about selling your Irvine rental fixer upper. It’s probably a great time to fix up your Irvine rental property–especially if you have owned it a long time. You may want to exchange it for another property outside of the Irvine community. You may just want to take your rental asset and move into it yourself. Whatever your motivation may be, this is the perfect time to begin to think about it. Prices have come back and have even exceeded the old highs since the real estate melt-down.
Perhaps you’ve been hesitant to get started – selling a home can be a daunting task, let alone one that needs obvious work. Perhaps you’ve got an outdated kitchen, a closed-off floor plan or a bathroom that hasn’t been updated since the 1970’s.
Don’t worry! While a fixer upper isn’t right for every potential buyer, there are people out there who may be looking for exactly what you have to offer. Here’s what you should keep in mind to make the most of your fixer upper listing.
1. Emphasize your home’s qualities
Maybe your home needs new floors or a landscape overhaul – but that doesn’t mean it doesn’t have its own special perks or charm. Take a good look around your home and see what qualities it does have that can help sell it. Is it situated on a large lot with beautiful, old trees? Is the flooring original? Maybe it’s in a desirable location with a good school system like our Irvine Unified School District. Emphasize those qualities when marketing your property.
2. Choose the right price
Potential homeowners interested in a fixer upper aren’t looking to pay top dollar for your house – they’re hunting for a bargain. If the price is too high, you’ll likely scare off some possible buyers. Check the comparables in your neighborhood and price your home lower. Draw attention to your bargain price in marketing materials to attract those who are looking to trade in their carpentry skills for a price break.
3. Fix it up
Obviously you won’t be making extensive repairs to your fixer upper before you sell it, but it won’t hurt to give it a little makeover. Make sure it’s clean, add a new coat of paint, trim and clean the yard and stage it so prospective buyers can imagine what it might be like to live there once it’s fixed up.
4. Be honest
It’s important that you’re upfront about the condition of your fixer upper from the start. Make it clear in marketing materials that the house will need some work – you’ll save yourself the headache of having to deal with disappointed prospects. During the closing process you’ll need a home inspection, which will highlight whatever flaws exist, so be sure to be open about them from the beginning.
5. Work with the right agent
Real Estate is local. Not all real estate agents have experience selling homes in your particular neighborhood–especially fixer uppers. Call several agents and ask them about their history selling homes that need repairs. Contact those who normally sell homes in the price range you’re looking for; they’ll have the knowledge you need about the current market and how to properly price your home so that it sells quickly and doesn’t sit languishing on the market for months. They’ll also be able to offer advice about any repairs that may be essential before you sell and how to best market your property.
All in all, selling a fixer upper doesn’t need to be an overly difficult process. By knowing your home’s selling points and working with the right agent, in the end you can have a sale you feel good about.
Compliments of Virtual Results