If your old or damaged house has been on the market for several months, and there are no potential buyers, it may be time to explore other options for unloading your property. Regardless of your situation or the condition of your house, you can still sell your Detroit, Michigan house as-is. How? Contact a local home buyer.
A local home buyer in Detroit, Michigan, can do a quick walkthrough of your house, make a fast cash offer, and close the sale in as little as seven to 21 days. You make no repairs or renovations. Whether you have a damaged, outdated, or inherited house, you can sell your house fast as-is for cash without listing it on the market.
Why You Can’t Sell Your House As-Is
Today’s real estate market is highly competitive, making it extremely difficult to sell a damaged or outdated house. The average seller would rather pay for a house that is already in excellent condition instead of sinking more money into repairs and remodeling projects after taking out a huge mortgage.
Home repairs are expensive and time-consuming. Some of the most common home repair projects include
Project |
Cost |
| Termite damage | $2,800 |
| Water heater | $750 |
| Foundation repair | $3,200 |
| Electrical wiring | $5,500 |
| Flooring replacement | $3,800 |
| Appliance replacement | $900 |
| Mold remediation | $2,100 |
| Air condition replacement | $4,500 |
| Window replacement | $17,000 |
| Roof replacement | $7,500 |
In a traditional home sale, potential buyers may require you to perform some of these home repairs before they are willing to buy the house. That means you have to spend thousands of dollars to get the house ready before you sell it. Can you afford these expenses upfront? Is it worth it to repair the house just to sell it?
Can I Still Sell My Detroit, Michigan As-Is on the Market?
The answer is yes, it is still possible to sell your house as-is the traditional way. You may even get a reasonable offer from a potential buyer. However, the question you need to ask yourself is whether you will make a profit and how much time and effort you are willing to put into getting the house ready to sell. There are several things to consider before selling your house as-is on the market.
Realtor Commissions
On average, a realtor takes six percent of your profits off the top. If you sell your house for $150,000, you will lose $9,000 in profits. This is in addition to the money you have already spent on repairing or renovating your house. So, if you have spent $10,000 in repairs, your total costs so far are close to $20,000.
Closing Costs
Most home sellers are unaware of how expensive closing costs can be. These costs can include title insurance, documentary stamp on the deed, HOA estoppel, municipal lien search, title search, settlement fees, and, of course, paying off any mortgage balance. The sum of the costs can reduce your sales profits by up to 10 percent. Once again, this is in addition to repair costs and realtor commissions.
Marketing the Property
I today’s real estate market, you have to be aggressive in marketing your property. Marketing strategies often include listing the house on an MLA site, putting signs in the front yard, posting it on social media, using marketing collateral, and showing the house. These costs can add up, further eating into your profits.
Complicated Selling Process
If you need to sell your house fast, you may need to bypass a long, complex selling process. You may not have time to hire a realtor, list the house, make the necessary repairs, find a buyer, and go through a long closing. Plus, it can take even longer to find a buyer if you are trying to sell your Detroit, Michigan house as-is.
How to Sell Your Detroit, Michigan House As-Is
Selling your house as-is is easier than you think. You can unload your property in three easy steps.
Step 1: Contact a Local Home Buyer
The first step in selling your house as-is is to contact a local home buyer and schedule a quick walkthrough of the property. Don’t worry about renovations, repairs, or even cleaning the house. A local buyer will buy your house as-is.
Step 2: Get a Fair Cash Offer
Once you schedule a walkthrough, the buyer will assess the property. If they are interested in buying the house, they will make a fair cash offer. In most cases, the buyer will make an offer within 24 to 48 hours of the walkthrough.
Step 3: Get Paid Cash for Your House
If you accept the buyer’s offer, you will schedule a convenient closing date. Closing the sale is easy. Simply sign the paperwork and walk away with no strings attached. The buyer will pay all closing costs and other fees.
Sell Your House Fast for Cash to M1 Home Buyers
Are you ready to sell your house right now? Contact M1 Home Buyers. You can sell your Detroit, Michigan house as-is without making repairs or renovations. Call us today at 248-397-5800 to get a fast cash offer from a local home buyer.