Comments on: Will a home sell with the carpet ripped up and floor boards out. I was renovating but now need to sell quick?

By: chris m

chris m — Thu, 09 Apr 2009 10:00:05 +0000

I would highly recommend looking for an equity line of credit to finance the completion. I personally would look to purchase a property like this, but in my standard formula to determine worthiness of a purchase, I consider the finished value, subtract 15-20% depending on desireability of the area (buyer’s market) to ensure the property moves quickly, subtract realtor and transfer taxes, contractor costs to complete the work (flooring, hardwood or carpets, and drywall/paint in your case), and deduct another 10% of the contractor estimate for managing that contractor. What this means is you lose your rear on a fixer=upper of this magnatude and a savvy investor will benefit. Or, you’ll sit on it if you’re unwilling to price it appropriately for an investor. No average buyer will consider a home needing floors, so best of luck to you getting the line of credit and moving it!

By: goz1111

goz1111 — Wed, 08 Apr 2009 12:22:50 +0000

in this market where buyers want to hear things like short -sale, pre-foreclosure, you are going to look to move a non-complete house for how much close to value? esp in Vegas you may want to consider unloading the place for as close to the note as possible to get out while you still have good credit

By: sweetsum691

sweetsum691 — Mon, 06 Apr 2009 00:43:45 +0000

Is that the value if everything was done or as-is? You can sell a house in any condition, but just remember the price will reflect the condition.

By: Olivia

Olivia — Mon, 06 Apr 2009 00:11:06 +0000

There is always someone who will want to pick up something like that to save money. Lower your price to even out the cost of putting in new carpet and floor boards and sell it as a fixer upper special.

By: michellereducf

michellereducf — Thu, 02 Apr 2009 15:25:17 +0000

someone will probably want it as a fixer-upper but the market is really slow now. keep the price down to sell it quick.