Hello. It's Greg Harrelson here with Century 21, The Harrelson Group in Myrtle Beach, South Carolina and I want to talk with you about how to sell a fixer upper.
So do you have a property you're thinking of selling but maybe you're concerned that it's not quite in the condition and maybe you don't want to invest a lot of money into the property knowing that you're going to sell it? So I want to give you a few tips on how to sell a fixer upper, a property that needs work. Number one, you want to focus on the positives. So when you're marketing the property make sure that you think about all of the positive, maybe it's the lot location, maybe it's the area, maybe it's the schools. Do you have a fenced yard? Is there an extra large deck, lot size, home size? Is it three bedrooms? Is the master bedroom all on the first floor versus all of the bedrooms being on the second floor?
See, every fixer upper still has qualities or features and benefits that are going to be appealing to the buyer. So make sure that any kind of descriptions that you write or pictures that you take, make sure that you get pictures of some of the positive parts of your property. Now I'm not saying take pictures of only the positive parts and deceive people as if the fixer upper part of the house doesn't exist because when they come see the property they're going to understand that it is a fixer upper.
So we're not trying to hide it, we're just trying to bring the positives to the forefront of the conversation. The second thing that I wrote down here is you may want to get a pre-inspection. You can have a licensed inspector come over, take a look at your property, inspect it and give you a list of items. Maybe they don't have to build a full report but they can give you a list of items that they can share with you that they notice that need to be done. Now from that standpoint, you can make decisions. Are you going to do them or not? But if you want to sell it as a fixer upper you may not want to do all those things because again you don't want to invest the money. But if there are certain things that might come up when it comes to contracts like for instance plumbing leaks, most contracts state that the plumbing must be in working order, free of leaks. So if you get a pre-inspection and you see there's a plumbing leak you may want to fix that but not necessarily redo the whole bathroom. So, you may want to fix some of the things that you know are going to come up on the home inspection but not necessarily fix all the things that are more deemed cosmetic. So, one way you can do this is you can get a pre-inspection and be prepared for the buyer to have it inspected but knowing you already did a lot of the small work already.
The third thing is, is you've got to price it accordingly so you want to look at the comparable sales in the community, or in the building if it's a condo, and you want to just make a note and compare your size home to the other homes that are a similar size and what they sold for. Make sure you go on the internet and look at all the pictures of those homes to see how does it compare. If your property needs paint but the one that sold didn't need paint then you may have to discount your price just a little bit, maybe not for the full price of paint but maybe just a little bit in order to make it a little bit more competitive. So you just want to make sure you do good research before you price the property. Now, a good real estate agent who has experience with selling fixer uppers or just many years of experience in selling homes has seen a fixer upper, have seen homes that are in good condition, have sold homes that are new construction, have listed and sold all of those properties they're going to know how to advise you on pricing. They'll know how to advise you as to what repairs you should do, what repairs you shouldn't do like leave that for the next buyer, et cetera. And as well as what features that you really want to focus in the marketing and the description of the properties on the internet. So I hope that helps focus on the positives, get a pre-inspection if you feel like that's important so you could fix some of the things that you know are going to come up in the negotiations.
And then last but not least, go ahead and make sure you price it according to the market, what your competition is doing at the moment. I'm Greg Harrelson with Century 21, The Harrelson Group and I'd love to help you if you need anything. Of course you can use any of our great real estate agents at The Harrelson Group to help you with buying and selling in the local market. We'll talk to you soon