Replies

Here’s my question: I own a house outright that I bought 12 years ago as a foreclosure. I’m ready to move, but it needs work. I figure 25-30K. It needs new AC, bathroom remodel, all new appliances. It could use new windows, which is not included in that 25-30K. It has carpet over hardwood that could be stripped and re-finished. I have no desire to do any of the work before selling.

It’s in a quiet decent blue collar neighborhood. The other houses for sale are not really updated and are listing for 200-250K which is much higher than a few years ago. There’s not a lot on the market, but there rarely is. My lot is a 1/2 acre, the others 1/4 acre. There’s no garage but a two car carport and a 2 story storage building while the others have one car garages. Mine is 100 years old. The others are 50. Mine has some quirks as it was changed or added onto through the years.

I’ve been getting mail and texts from We Buy Ugly Houses type companies. I want to sell it as it is. I don’t know if wiring is up to code. Can a realtor handle AS-IS houses? Any idea how much of a low ball the Ugly Houses types offer? Or how do I price a FSBO fixer upper?

Thanks for any tips.

You are smart to not make improvements. I am not familiar with your area of course, and not ‘we buy ugly houses’, although I suspect you would receive a very low ball offer. Some of these companies are opportunists, preying on desperate sellers and take advantage of people. What I would do is call three REPUTABLE local real estate brokerages and get three opinions. There are positives for every property, you have a larger lot, hardwood floors, and the 2story outbuilding could be a real asset for buyers with hobbies, small businesses, etc. there are three elements to marketing homes, location and condition which dictates price. It sounds like you will have to adjust price downwards from comps due to the condition.

A few concerns with a 100 year old house, such as lead based paint, asbestos, if you have a basement, radon gas, termites, mold. Not trying to scare you but could become an issue, so be prepared. Another possibility, and I have always suggested this to clients facing major repairs Do you really need to sell to move, it could be a rental property. You could borrow on the equity to finance another home and also have rental income. Just a thought. Good luck.