My parents are thinking of selling their home...it needs work and they're older and don't want to deal with it. What options should I advise to them. Just asking for some advice
Hire a respected Realtor in their neighborhood. They will essentially do everything for your parents in what should be an ethical and professional manner.
Realtor · Richmond VA · Member since 2023 · 48 posts · 17 votes
3mo
Hey Ms. Luna,
Since they don't want to deal with it, they pretty much have two options for selling.
They could list the home as-is with a real estate agent on the MLS. Because the home is exposed to the largest pool of buyers, including buyers working with other agents and those searching real estate listing websites, this option will often result in the highest sale price. The tradeoff is that it typically comes with more showings, inspections, negotiations, and overall hassle.
The other option is to sell off-market (without listing it on the MLS). This is usually the most convenient route since there are typically far fewer showings, inspections, and buyers to negotiate with. An off-market sale can be done either with or without a real estate agent. The tradeoff is that selling off-market limits the number of potential buyers and the competition you would get by publicly marketing the home. Because of that, the sale price is usually lower than what you could achieve by exposing it to the entire market.
I'd recommend comparing both options to see which best fits your parents' priorities. If you have any further questions or would like help with either option, feel free to reach out. Happy to help!
Hire a respected Realtor in their neighborhood. They will essentially do everything for your parents in what should be an ethical and professional manner.
My parents are thinking of selling their home...it needs work and they're older and don't want to deal with it. What options should I advise to them. Just asking for some advice
It really depends on their goals. If they don't want to deal with repairs, listing it as-is is a perfectly valid option and you'd be surprised how many investors are looking for homes that need work. They could also get quotes for the repairs first just to see whether doing a few updates would add enough value to justify the time and expense. Another route is selling directly to an investor if convenience and speed are more important than maximizing the sale price. I'd encourage them to compare all three options so they can weigh the net proceeds, timeline, and stress level before deciding. Happy to connect and answer any questions you have!
I agree that comparing all the options is the best approach. It can also help to look at the expected costs, timeline, and final amount they would receive from each choice. If they prefer a simpler process and don't want to manage repairs, selling as-is may be a practical option. Since this was posted about a month ago, I hope they've found the approach that worked best for them.