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How can you sell a house that needs repairs in Anglesey and Gwynedd? Don’t be daunted, it’s possible with the right marketing and method. There are some things to consider if the house is run-down and dilapidated (a doer-upper!).
Our expert team here at Williams & Goodwin know a few things about how you can sell a property that requires renovating. We explain your options, such as selling on the open market by private treaty (estate agency) or at auction, how to reach the right type of buyer, and tips and tricks you can try.
Read on to find out how to sell a house in bad condition in North Wales.
You may be worried your neglected property won’t sell, but that isn’t always the case. Properties in very poor condition may sell fast and sometimes the sale may not proceed, but will find buyers eventually, so have realistic expectations in terms of the sale price and speed. However when you sell by auction, you have certainty.
Many prospective buyers want a home that requires minimal work, so knowing who to target is essential. These are the types of buyers to market to when selling a property that needs major repairs:
There are small steps you can take to make your renovation property more appealing to buyers.
An inspection and building condition report may highlight the amount of work involved, any structural problems, what needs to be done and where, and give you a realistic price to market the property.
Sort out the basics of the property’s exterior and grounds to boost its kerb appeal and bring in potential buyers.
Show buyers why your property is ideal, beyond the house’s condition. Good local amenities, low crime rates and a great location are all attractive to house hunters.
Even if there’s bigger work to take on, doing simple repairs and applying a fresh coat of paint can make a positive impression.
Be upfront on what needs doing, including structural issues, don’t hide anything. This is your chance to show how it could be remedied too, so get quotes and costs from professionals to fix the issues.
Research local selling prices, then set a price that reflect the house’s state of repair. A fixer-upper listed at the same price as a local property in good condition, you’ll put off potential buyers.
Approach an agent with experience in selling houses in need of repair or go to auction. Auctions can be a good place to find buyers who are looking for renovation property opportunities.
A property that needs significant repairs will probably sell for less than one in perfect condition, but the impact on its sale price depends on several factors.
To get an idea of what your property could be valued at, you need to take a few steps:
You don’t need to complete repairs before putting your home on the market if you lack the money for them or want a speedy sale, especially if the works required are major. However, some small repairs can sometimes help to secure a quick sale, especially if they boost your home’s kerb appeal. If unsure, ask the expert auctioneer before doing anything.
You can sell on the open market or at auction, but some options may be more beneficial for a property in need of renovation.
Even though you’re targeting a niche group of prospective buyers, selling a fixer-upper on the open market through a reputable estate agent can give you a good chance of finding a keen buyer. Here at Williams & Goodwin, we’re experienced in selling a house that’s in need of repairs.
Selling by auction can be a good option, as it attracts buyers looking for a house that needs work. If you want to sell a renovation property in North Wales, consider All Wales Auction. With a reputable auctioneer and great marketing, you may sell for more than you anticipated. Prepare to market your property at an attractive guide price (but always have a reserve price to ensure the minimum acceptable is achieved).
The third option for selling a run-down house is to use a home-buying company. These companies promise fast sales but may use unscrupulous methods, sellers are often hit by high fees, and they tend to get a lower price than the property could achieve. So be careful, its not an option we would typically recommend.
Expertise goes a long way when it comes to selling renovation properties. Whether you want to sell house that needs repairs in Anglesey, Gwynedd or across North Wales or a well-maintained property, don’t hesitate to call us on 01248250106 or drop us an email at northwales@allwalesauction.com. We’re looking forward to helping you find the perfect buyer.
To see some of the latest lots sold at auction in North Wales visit: https://tppuk.com/online-auctions/
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Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.
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