Sell a House That Needs Major Repairs in Pennsylvania
Owning a house that needs major repairs can put you in a difficult position. Maybe the roof needs to be replaced, the property hasn’t been updated in decades, or you’re dealing with plumbing, electrical, foundation, or water-damage issues.
The good news is that you don’t necessarily need to fix everything before selling your house in Pennsylvania.
Depending on your situation, selling the property as-is may make more financial sense than spending thousands of dollars renovating a house you’re already planning to sell.
At Next Key Property Group, we work with homeowners throughout Philadelphia, Delaware County, Bucks County, Montgomery County, and Chester County who need to sell properties in all types of condition.
Can You Sell a House As-Is in Pennsylvania?
Yes. Pennsylvania homeowners can sell properties in their current condition without completing renovations before the sale.
Selling as-is generally means you’re telling potential buyers that you don’t intend to make repairs or improvements as part of the transaction.
That doesn’t necessarily eliminate disclosure obligations or prevent a buyer from inspecting the property. It simply means you’re looking to sell the property in its existing condition rather than renovate it for the buyer.
What Types of Repairs Can Make a House Difficult to Sell?
Some cosmetic problems are relatively easy for traditional buyers to overlook. Major repairs can be different.
Properties may become more difficult to sell traditionally when they have issues such as:
- An old or leaking roof
- Foundation or structural problems
- Outdated electrical systems
- Plumbing problems
- Water or fire damage
- Mold or moisture issues
- Broken HVAC systems
- Significant cosmetic damage
- Outdated kitchens and bathrooms
- Damage from long-term tenants
- Properties filled with unwanted belongings
These problems don’t necessarily mean the property can’t be sold. They may simply reduce the number of traditional buyers willing or able to purchase it.
Should You Repair the House Before Selling?
It depends on the numbers.
Suppose you believe renovating the property would increase its sale price by $50,000, but completing the renovation would cost $40,000.
After accounting for your time, carrying costs, contractor problems and the uncertainty involved with renovations, spending that $40,000 may not be worthwhile.
On the other hand, several inexpensive improvements could potentially make sense if they significantly improve the property’s marketability.
Before renovating, homeowners should compare the likely net proceeds from selling after repairs against what they could receive by selling the property as-is.
Option 1: Renovate and List With a Real Estate Agent
If you have the money and time to complete the necessary repairs, renovating and listing the property traditionally could potentially produce a higher sale price.
However, you’ll need to consider more than just renovation costs.
You may also have holding costs, utilities, taxes, insurance, agent commissions, closing costs and additional expenses while waiting for the property to sell.
For houses requiring extensive work, renovations can also take months.
Option 2: List the Property As-Is
Another option is listing the house on the open market without completing the repairs.
This exposes the property to more potential buyers, including investors.
However, buyers may still request inspections, financing contingencies or repairs depending on the terms of the offer.
Certain property conditions can also make traditional financing more difficult.
Option 3: Sell Directly to a Cash Buyer
For homeowners who prioritize convenience and certainty over obtaining the highest possible retail price, selling directly to a real estate investor can be another option.
Next Key Property Group purchases properties throughout the Philadelphia area in as-is condition.
That means you don’t have to renovate the property simply to sell it.
Depending on the property and transaction, a direct sale can also eliminate many of the steps involved with preparing a house for the traditional market.
What If the House Is Completely Outdated?
An outdated house can still have substantial value.
We’ve seen properties with kitchens from decades ago, damaged flooring, old bathrooms, unfinished projects and years of deferred maintenance.
Investors generally evaluate these properties based on factors such as the property’s location, current condition, estimated renovation costs and potential value after renovations.
You shouldn’t automatically assume your property isn’t worth much simply because it needs work.
What If You Inherited a House That Needs Repairs?
This is particularly common with inherited properties.
You may inherit a house that hasn’t been updated in 20 or 30 years and suddenly find yourself responsible for cleaning it out, maintaining it and deciding whether to renovate or sell.
If you don’t want to take on a renovation project, selling the inherited property as-is may be an alternative.
In some situations, a buyer may even be willing to purchase the property with unwanted furniture and belongings still inside.
Selling a House With Repairs in Philadelphia and the Surrounding Counties
Property values and renovation costs can vary dramatically throughout Southeastern Pennsylvania.
Next Key Property Group works with homeowners throughout:
Philadelphia County, Delaware County, Bucks County, Montgomery County and Chester County.
Whether you’re dealing with a Philadelphia rowhome that needs a complete renovation or a suburban property that simply hasn’t been updated in decades, the important thing is understanding what the property is worth in its current condition.
Get an As-Is Offer From Next Key Property Group
You don’t have to spend months renovating a property just because it needs repairs.
If you’re considering selling a house that needs work, Next Key Property Group can evaluate the property in its current condition and provide you with a no-obligation cash offer.
There are no required renovations before selling to us, and you can decide whether our offer makes sense for your situation.
Contact Next Key Property Group today to see what your property could sell for as-is.