Updated over 4 years ago on . Most recent reply
Sell as is or make improvements
Hey guys!
Seeking advice.
My mother is in a tough predicament and needs to sell her home ASAP.
I am a licensed agent, so I will be listing it and know it will sell fast.
The problem is it is extremely outdated and realistically she can probably get around $215K right now AS IS.
My question, do I list and sell as is or do I take out a loan to make improvements (I.e , new kitchen , appliances, bathrooms, floorings ,
Paint etc). If the property is fully redone we can sell for $280-$300K
Based on the work I want to do, do you think it would make more sense to sell as is or complete the improvements and sell remodeled?
This is a condo by the way.
Most Popular Reply
Hey Zack!
Sorry about your mom's (and yours) situation.
I'd say it all depends on how much the improvements would cost. If you can do all the improvements for $50k or less and you're sure you can get $280k for it, you're making a decent return on your investment. Plus the potential buyer would have less to counter on (if that'd even happen in this crazy market lol)
Good luck!