To fix or not to fix cracks before selling investment property?

To fix or not to fix cracks before selling investment property?

Realtor · Jacksonville, FL · Member since 2022 · 8 posts · 1 vote

Hello! I am hoping to get some advice on about an investment property we're about to put on the market in VA. The area has very low inventory and our tenants are moving out in May so we believe now is the tell to sell. Here's the concern...there are some settling cracks and ceiling damage that are quite visible in several areas of the home. In order to address them, we'd have to delay the sale until the tenants vacate at the end May and repairs may delay listing until sometime in June. On the other hand, we have an opportunity to strike while the iron is hot. Please advise on the best approach to take and whether these cracks could hinder the sale of an othewise great home in the best school district with no other homes for sale right now.

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  • Rental Property Investor · NY · Member since 2022 · 12 posts · 5 votes
    4y

    Have you received a quote of time/money for the work to fix the cracks? If the market is hot, you could list it with the option for you to fix the cracks prior to closing  OR give them $X off the price if they are willing to buy 'as-is' and fix it themself.

    Either way, if the market is hot - not worth waiting as you should be able to find potential buyers comfortable with either of the options above

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