Houses that need major repairs
Needs major repairs? Fix it, or sell it as-is?
Old roofs, failing furnaces, foundation cracks, fire or water damage. Here is how to think about fixing versus selling as-is, and how an investor's offer is built.
- Roof, foundation, fire, water, mold or old mechanicals
- No repairs and no cleaning before you sell
- We show you the repair numbers behind our offer
- If fixing and listing would net you more, we will say so
Your options
- Make the repairs, then list it. Usually the highest price, if you have the money, the time and the patience to manage contractors. Big repairs often cost more and take longer than planned.
- List it as-is with an agent. Some buyers want a project. But many buyers use a loan, and lenders often will not lend on a house with serious problems like a failing roof or no working furnace. That can leave you with mostly cash buyers anyway.
- Sell it as-is to a cash buyer like us. No repairs, no showings, and a closing date you pick.
How an investor prices repairs
Say a house would sell for $180,000 fully fixed up and needs $40,000 of work. An investor does not just subtract the $40,000. They also pay closing costs when they buy and again when they sell, taxes, insurance and utilities while the work is done, a commission to resell, and they leave room for surprises and a profit. That is why an as-is offer lands well below the fixed-up price minus repairs. Those numbers are an example, not a quote. We show you our actual numbers with every offer.
When a cash sale makes sense
- The repairs are big, like a roof, foundation, electrical or fire damage.
- You do not have the cash, the time or the interest to manage a renovation.
- You want a firm sale that does not depend on a buyer's inspection or loan.
When it does not
If the house mainly needs paint, carpet, cleaning and small fixes, doing that work and listing it will usually net you more. We will tell you if we think that is your situation.
Questions people ask
Will you ask me to fix anything after your walkthrough?
No. We price the house as it is today.
What if you find more problems later?
Houses almost always hide a surprise or two, so we price in a cushion up front. The goal is that we do not come back later and lower the offer.
Do you buy houses with fire or water damage?
Yes, we look at them. Tell us about any open insurance claim, since it can affect the sale.
More questions?
See our answers to common questions, or send us the address and we will call you.
Want to see what it would bring as-is?
No pressure and no obligation. A real person here in Indianapolis will call you back.