These days we have all seen more than we want of “Flipped” homes. Investors buy fixers to flip. They typically buy them “As Is”, typically for all cash, no inspections and a quick close. This is a good way to sell if you want a quick sale, are perhaps out of town, and it just doesn’t make sense to do any work. Sometimes owners do not even clean out the home or property. The downside is that you may be leaving money on the table. There could be some minor things to fix to sell at a higher price.
Selling a Fixer
Your home may not quite be at the “sell it to flip” stage. I love getting these listings! Many home buyers are looking for homes they can fix. They don’t want or can’t afford a “Flipped” home, and they are being squeezed out of the home buying market. You can sell your home as a “Fixer” or what I like to call a “Mild Fixer” or “Cosmetic Fixer”. Home buyers are looking for a home in a great neighborhood with good bones and are willing to put in the sweat equity to make it their own.
Buyers Report Concerns
In addition, I know I am not the only one who walks into these “flipped homes” and think they all look alike. Home buyers want a home that they can fix and make their own, and find the look is not their style. Many home buyers who have purchased a flipped home report that the work is not always done in a professional and good workmanship manner. These buyers find out later that there were no permission for the work done. The worst part is that a lot of times the “Flipper” does not disclose the work that was done, as Sellers are required to do in most transactions which helps the home buyer during his inspection process.
The Answer to the Question?
It may be neither! It all depends on the house, condition and situation, but don’t always assume you have to fix your home to sell it or sell it to a “Flipper” if it needs work. Remember, there is a very large market of home buyers out there looking for homes they can fix and upgrade themselves over time and make it their own.