It can be challenging to determine if you should make repairs to your Florida house before selling it to increase your final sales price or keep your money in your pocket and sell it as-is. This question is honestly for the homeowner to decide. For tax implications we highly recommend talking to an CPA. However, we can always throw out some factors to consider when you are faced with this decision. So read on as we explore if you should fix up that property and make those repairs to your Florida house before selling it!
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Circumstances
Sellers must bear the costs of making repairs to their Florida house before selling it in hopes that they make a sizeable return on the investment in the property. It really depends on what kind of repairs or fixing up were talking about. Is there a giant tree on the roof? Mold up the walls? Plumbing needs to be replaced? Or is it more on the simple side as in a few updates on curb appeal or shutters need straitened. Simple fixes are a no brainer if you are looking for top dollar and wanting to list your property on the MLS with a realtor. If your property has several deferred maintenance issues and in need of a heavy duty roll over you may opt to just sell AS-IS. At Particular Properties we have the power of cash backing our purchases, so we buy houses as-is without the worry of a deal falling through. When you sell directly to Particular Properties , you can leave all the worries about selling and passing the inspection behind.
Increased Profits
End home buyers seek properties ready to move into, so it may be worth making repairs to your Florida house before selling it. No matter how many repairs you make, other factors may help determine if this is the right move. For example, is the after-repair value or ARV worth the expenditure? Much depends on professional estimates, and you must reach out to multiple providers to compare and save. Additionally, sellers must consider the location of the property and the features of the home and their appeal to today’s buyers. Particular Properties will detail the profits of listing your home in the conventional method after repairs vs. our offer, which we want you to agree is fair so that you can make an educated decision about the best option in your situation.
Time
Time is money, so to truly understand the costs you face, you need to consider the costs of holding the property (insurance, property taxes, utilities, yard maintenance) while professionals complete the repairs and during the listing period. You must have a reliable estimate of the time to make repairs to your Florida house before selling it. Particular Properties will provide you with a timeline for the repair work you can take to the bank. On the other hand, if time is not on your side, company] can provide you with a guaranteed closing date, often within a matter of days. Now, relax; if the thought of packing and moving everything in a few days does not align with your plans, talk to us about making arrangements to stay until the best date for your closing.
Why not talk to Particular Properties about whether or not you should make repairs to your Florida house before selling it. Our Offers are always free, always cash, and are always no obligation! At Particular Properties , we stop everything and take the time to listen to you; and we understand that you have important questions and concerns and are happy to help provide the answers. To save you even more money, Particular Properties never charges commissions, and there are no hidden fees to surprise you and deplete your profits. We offer the amount you’ll have in hand after the closing. And you won’t even pay closing costs. Why not see the difference working with Particular Properties can make for you? What do you have to lose? Call Particular Properties at 407-721-6898.
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Summary:
- Market Conditions: If it’s a seller’s market with high demand and low inventory, you might be able to sell your house without making significant repairs. However, in a buyer’s market, you might need to make repairs to make your home more attractive. Check local websites like Zillow and Realtor and look at how long houses are sitting prior to selling. Also compare the work that has been done on the homes. Contact us today and we can guide you on inventory in your Florida market!
- Extent of Repairs Needed: Assess what repairs are necessary. Minor repairs like fixing leaky faucets or painting scuffed walls might be worthwhile, but major repairs like replacing the roof or fixing structural issues could be costly and time-consuming.
- Return on Investment (ROI): Consider whether the cost of repairs will yield a higher sale price. Sometimes, making repairs can increase the value of your home and help it sell faster, resulting in a higher profit. However, be cautious not to over-improve for the neighborhood.
- Buyer Expectations: Potential buyers may expect a certain level of condition for the price they’re paying. If your house needs significant repairs, it might turn off some buyers or decrease the offers you receive. Right now prices are so high in most parts of Florida that buyers are expecting to move into a turnkey house. Meaning they don’t want to have any repairs or modifications to do.
- Time Constraints: If you’re looking to sell quickly, making repairs can help attract buyers and speed up the selling process. However, if time is not a constraint, you might have more flexibility in selling as-is.
- Inspection Results: If you’ve had a pre-listing inspection done, consider the results. Addressing major issues highlighted in the inspection report might be necessary to avoid negotiations falling through later in the process.
Ultimately, you need to weigh the costs and benefits of making repairs against your selling goals and the current market conditions. Consult with a Particular Properties so we can provide you the information on how you want to move forward.
We Buy Houses In Florida!
Particular Properties is your Central Florida Cash Home Buyer. We have been buying real estate since 2006. Currently we operate in Altamonte Springs Beverly Hills Brooksville Casselberry Citrus Springs Cocoa Crystal River Homosassa Homosassa Springs Inverness Lecanto Longwood Orlando Oviedo Rockledge Sanford Spring Hill and Titusville
Our market space is constantly expanding! If you do not see your city listed please Contact Us and let us know where you are located. We’d love to hear from you! Want to jump ahead and fill us in on your property info? Click here to fill out to receive your Cash Offer!
ABOUT THE AUTHOR
Jessica is a licensed real estate broker in the state of Florida. She has been buying and selling real estate since 2006. She is an investor at heart. Specializing in Tax delinquents, foreclosures, and creative financing. All publications are opinion based formed by experience. If you are seeking tax or legal advice it is recommended that you contact a licensed CPA and/or Attorney for your specific needs. If you’d like to learn more about how Particular Properties can help you please click the button below!