Here is a step-by-step guide to help you navigate the process of selling unmodernised properties:

Assess the Property

  • Condition: Note the current state of the house, including any structural issues, outdated systems (plumbing, electrical wiring etc), and cosmetic concerns.
  • Market Value: Get a professional appraisal to understand its value in the current market, considering its unmodernised state.

Decide on Selling As-Is vs. Making Minor Improvements

  • As-Is: Selling the house in its current condition can appeal to investors or cash buyers looking for a project.
  • Minor Improvements: Small, cost-effective updates (like fresh paint, decluttering, and landscaping) can make the house more attractive without significant investment.

Price Appropriately

  • Set a competitive price reflecting the condition. Overpricing can deter buyers, while under-pricing might undervalue the potential.

Choose the Right Selling Method

  • Traditional Estate Agent: A local agent with experience in selling fixer-uppers can be invaluable.
  • Auction: This method can attract investors and competitive bidding might drive up the price, but setting the Guide Price will leave a digital footprint that can negatively impact the value if the property fails to sell.
  • Cash Buyers: Investors and companies that buy homes for cash can expedite the sale but offer lower prices in return for convenience and certainty.

Market Effectively

  • Highlight Potential: Emphasise the property’s potential, location benefits, and any unique features.
  • Target Audience: Aim your marketing at investors, flippers, and buyers interested in renovation projects.
  • Professional Photos and Staging: Even in an unmodernised house, clean and well-taken photos can enhance interest.

Disclose Honestly

  • Be transparent about the property’s condition. Disclose any known issues to avoid legal problems down the line.

Prepare for Negotiations

  • Be ready to negotiate with buyers who might seek discounts for the work required. Understand your bottom line and be willing to compromise if necessary.

Legal Considerations

  • Ensure all legal documents are in order. This includes the title, property disclosures, and any necessary approvals and permissions for previous work done on the house.

Additional Tips

  • Curb Appeal: Simple fixes like mowing the lawn, trimming bushes, and cleaning the exterior can enhance first impressions.
  • Inspection Reports: Providing a pre-inspection report can reassure buyers about the property’s condition.
  • Selling an unmodernised house requires a strategic approach to highlight its potential and reach the right buyers. By pricing appropriately, marketing effectively, and preparing for negotiations, you can achieve a successful sale.
  • Contact My Property Selling Expert and let us guide you through the process