When to list your rehab

Question

hello - new here - i am a Realtor and first time flipper - do you guys put your house on the market while still renovating or wait until complete? and if done before complete, do you open the house under construction up for showings?

J Scott · Answer

Always wait until the rehab is 100% complete.  Buyers tend to have very poor imaginations, and while you may be excited at what's going on at your rehab, a potential buyer just sees it as an uninhabitable house.  That first impression will never go away.

Matthew Rollo · Answer

Wait until the Rehab is done, stage it, then hold an open house.

Don't let a potential buyer see the disaster that is happening while you are rehabbing. They only care about the finish product.

Katie Neason · Answer

we wait until it's complete and staged.

Aaron Lovett · Answer

For my own, I wait until they're 100% before listing.  As most of the replies here indicate, buyers have little imagination for what will be, and the first impression means a lot.

That having been said, I wouldn't necessarily turn down a listing that was in the process of being fixed up.  It would depend on features of the specific property, how far along things were, the seller's understanding and expectations, etc.  If I know I can sell it, I'll list it!

Ed Matson · Answer

I would agree to wait until the house is complete or 99% complete.  We had a couple ask to look at our flip while it was about 2/3rd's done.  It was framed, wired, plumbed, and the sheetrock was hung, but no flooring, kitchen cabinets, bath fixtures, paint, etc. Since they walked up while I was there, i said sure.  After 15 minutes they said the "house isn't for us". They phoned me the day after the listing hit the MLS with 30 photos.  "Saw the house on Zillow.  Looks great.  When can we see it again?" We will close with them shortly.

Brian Pulaski · Answer

I always end up listed with a few items being completed. Sometimes it is just some punchlist items, and other times larger items. I always get it staged however and would never show a house that wasn't 99%.

As an example right now my current house is listed with the following not 100%:

Aluminum trim at gable ends and rear.

Fireplace mantle trim and paint.

Threshold at front door needs paint.

Final laundry hookup tie ins (outlet and plastic trim around it).

Touch up paint inside one closet.

Basement floor paint.

None of these items have been deal breakers, but of course I have multiple other projects going on, and just haven't nailed down finishing some of these.

Paul Ferrara · Answer

thank you guys!

John Mathewson · Answer

I agree waiting until the rehab is 100% complete is the best option. Not many buyers have the vision to see past where the property is currently. I have sold properties before they are done but most of the time they ended up being more trouble than it was worth. Get the house done 100% and you will have no doubts when it's listed.

When to list your rehab

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