If you’re looking to sell a house you just flipped, you need to know what’s on your potential buyers’ minds.
And if there’s one thing most homebuyers share in common when looking at a flipped house, it’s that they want to verify, verify, and verify. Chances are, your potential buyers will have looked at one or more flipped houses before your property, which means they’re more or less familiar with how flippers usually just make cosmetic changes to the house before putting it on the market.
In other words, your buyers will be looking at other things besides a fresh coat of paint and new appliances. Make sure you stay a few steps ahead by being aware of the following factors most homebuyers will have in their minds.
The Property’s History
Most buyers will want to know how often the house has been put on the market. If you bought the property at a low price and are now putting it on the high end of the market, your potential buyers will know you put in a sizeable investment in flipping the house.
Once they know that little fact, they’ll be expecting more from the property, which usually means they’ll check if the property’s different systems are in working order and if it has any hidden problems.
Save yourself the hassle of your buyers discovering any issues by getting a home inspection before making any renovations. The home inspector’s report will allow you to make core improvements on things like the plumbing, HVAC, insulation, and foundation.
The Home’s Water Heater
Most home flippers tend to cheap out on an old house’s water heater because it tends to cost more and isn’t very visible. But buyers who know better are likely to check the heater because they know having to buy a new one is a costly upgrade.
If the sticker on the water heater shows it was made within the last 10 years, you should be in the clear. But if it was made before 2005 and shows signs of rust, you might need to reduce your asking price or work its cost into your contract.
Permits
Discerning homebuyers know any home improvements aside from the simple coat of paint or wallpaper installation require a permit. You can’t expect buyers to be satisfied with your claim that everything is “new” without any documentation to back it up. If you can present permits from your municipality, you should have this problem covered.
But it’s worth noting that not all municipalities require permits for home renovations, which is where a home inspection comes in. An inspection report is the next best thing you can use to show the house was built/renovated according to code. A home inspection not only makes the house more marketable, it saves potential buyers the trouble of looking under the sinks, checking the wiring, and looking in unfinished spaces like the basement, attic, or under cabinets.
Need to sell your home fast? Sell your property as is to an investor like Blue Hen Homebuyers. We buy all kinds of houses, regardless of their age or condition. Call our offices today at 910-802-2222 to learn more about how our services can help you.