How to Maximise Profits When Selling a Rundown Property

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How to Maximise Profits When Selling a Rundown Property
Photo by Stuart Miles at freedigitalphotos.net

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When selling a run-down property, it can be difficult to make a profit, especially if you bought the property when it was in better condition. Although some run-down properties can make for excellent renovation projects and are therefore hugely attractive to some buyers, a downfall of this is that the majority of renovators want to purchase property at the lowest possible price in order to still make a profit themselves once they have spent what is necessary on renovation. However, it’s definitely still possible to make a profit from selling a property that’s looking a bit worse for wear.

How to Maximise Profits When Selling a Rundown Property
Photo by Stuart Miles at freedigitalphotos.net

Sell Homes for Cash

One of the quickest and easiest ways of selling a run-down property is to sell it to a business or individual who buys homes for cash. Most of the time, people and companies who buy homes for cash do so for renovation purposes, and therefore are happy to give a good price for run-down properties meaning that you don’t need to do any work on the property before you sell. Since there’s no need to spend any money on improving the home in order for it to appeal to potential buyers, you can often make a profit from selling your home for cash.

Renovate

If you are looking to sell a run-down home, you may find that renovating it first puts you in with a chance of not only making a quicker sale, but also earning a higher profit. With less and less potential buyers looking for investment projects and renovations and an increasing number looking for homes that are ready to move into, you may well find that renovation is well worth the investment. By turning a run-down home into a renovated, modern and refurbished property, you’ll definitely get a lot more interest from potential buyers such as young couples and families who are willing to pay more.

Spring Clean

Even if your property is a little run-down, there’s no reason why you shouldn’t make sure that it looks its best before you show any potential buyers around. By ensuring that you give the property maximum curb appeal and enhance its appearance both inside and out, you’ll be in with a much better chance of creating a great first impression for any potential buyers and less likely to have buyers trying to drive the price down.

De-Clutter

If, like a lot of run-down properties, your home is full of clutter and general untidiness, this could well be one of the reasons why nobody’s offering you the price that you want. Although the home itself may well be in good condition and only need cosmetic work doing, it’s important to understand that a lot of potential buyers simply can’t see past junk and clutter. Before showing potential buyers around, make sure that your home is clutter free and as clean as possible.

Although it may be more difficult to get a good price for a run-down home, there are plenty of things you can do to make sure that your home shows off its full potential in order to get the best price.

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