Is anyone on here a realtor?

[USMC88-93]

Have a couple of superficial questions regarding the potential of selling my house.

[Great-Kazoo]

Post the questions. There are a few who have sold or purchased in the last year, that may be able to help you. Or not.

The questions are superficial. It's not like you're asking a gun forum for legal advice.

[mb504]

Post the questions. There are a few who have sold or purchased in the last year, that may be able to help you. Or not.

The questions are superficial. It's not like you're asking a gun forum for legal advice.

On point....

You also might get more unbiased answers... since the answers could be from the point of view of the pain/joy you might have as the seller

[WETWRKS]

I do not have a current license but did a few years back.

[GilpinGuy]

I do not have a current license but did a few years back.

Same here, except it was 15 years back. Fire away.

[USMC88-93]

House is in Wheat Ridge just west of Sheridan Blvd built in 1942. Many houses being bought and scraped for new construction in the area due to the "revitalization" of the area.

My house needs:

1) A new sewer tie in VERY soon as it looks like I have dirt coming in to the drain sink in basement from the pipe. Tree roots are the cause I am sure. (I will have to go all the way to the street tie in for this repair)

2) A new furnace. My last furnace repair a couple of years ago the guy could have said no on the repair due to cracked heat exchangers.

3) Bathroom and kitchen cast iron drain pipes are in need of replacement with new plastic as they are about rusted through.

4) Needs foundation repair and sealing work as well. (Father and Uncle installed sprinkler heads next to foundation walls and years off too much water next to foundation has caused issues)

5) Much of the electrical work in attic feeding house first floor needs "worked on" to bring within code compliance. (Father adding outlets years ago and wrong gauge of wire for some circuits splice boxes too full etc)

In a nutshell considering all the houses bought for scrapes in the area how hard is it to sell a house as is and still come out of it with a reasonable sale price as (without getting into my credit specifics I cover all my bills but could not risk adding more to my debt loading but do not have the ability to cover a sewer line repair especially to the tie in with current finances)

I'm of a mind to sell and use proceeds to pay off current debt. (Home Equity loan and credit cards) and then rent for a while but I get sticker shock just looking at that possibility.

[Vitesse304]

House is in Wheat Ridge just west of Sheridan Blvd built in 1942. Many houses being bought and scraped for new construction in the area due to the "revitalization" of the area.

My house needs:

1) A new sewer tie in VERY soon as it looks like I have dirt coming in to the drain sink in basement from the pipe. Tree roots are the cause I am sure. (I will have to go all the way to the street tie in for this repair)

2) A new furnace. My last furnace repair a couple of years ago the guy could have said no on the repair due to cracked heat exchangers.

3) Bathroom and kitchen cast iron drain pipes are in need of replacement with new plastic as they are about rusted through.

4) Needs foundation repair and sealing work as well. (Father and Uncle installed sprinkler heads next to foundation walls and years off too much water next to foundation has caused issues)

5) Much of the electrical work in attic feeding house first floor needs "worked on" to bring within code compliance. (Father adding outlets years ago and wrong gauge of wire for some circuits splice boxes too full etc)

In a nutshell considering all the houses bought for scrapes in the area how hard is it to sell a house as is and still come out of it with a reasonable sale price as (without getting into my credit specifics I cover all my bills but could not risk adding more to my debt loading but do not have the ability to cover a sewer line repair especially to the tie in with current finances)

I'm of a mind to sell and use proceeds to pay off current debt. (Home Equity loan and credit cards) and then rent for a while but I get sticker shock just looking at that possibility.

A "reasonable" sale price is going to be a different price in everyone's mind. You the seller might have a price in mind, but the buyers will have a price in mind, and the mortgage company will have a price in mind.

I would recommend stepping back and taking in all the info before having a price stuck in your head if you really want to sell the property. Of course, other things will factor into this...do you NEED to sell the property, are you selling because you have a price point you need to make for another purchase? Are you moving and is time a factor. Are you upside down on the mortgage, or are you paying a high interest rate, etc...

It's no longer a seller's market. You aren't seeing as many people offering over asking prices anymore. Homes are sitting on the market longer and interest rates are going up which turns off some buyers or makes the amount they can afford less.

Based on the repairs needed, and your current financial situation, you can't and shouldn't fix those issues. Especially if there's a chance it will be torn down. However, you can't expect to make a huge profit on the property since these maintenance or upkeep issues will severely cut into the that. I'm not sure of your asking price or the market valuation, but breaking even or taking a small loss could be within the realm of possibilities here and you might have to come to terms with that.

I would also recommend you contact a few realtors in your area. Ask them what you should sell it for. Most realtors will give you a range without signing a contract to sell. Realtors will see it as an opportunity to make a commission so they will generally be straight up with you. Obviously throw out the outliers...the guy that says it's worth a million, and the lowballer...but you'll find the middle and see if that makes sense for you.

[NFATrustGuy]

Unfortunately, you’re probably looking for an investor or cash-only buyer based on the deficiencies you spelled out. Lending guidelines for traditional loan sources will require the big stuff to be up to snuff.

[Irving]

There are plenty of companies that will give you a cash offer, but it's not going to be near market value of a house that doesn't need serious work. Fix and flips on my street have been selling for $206k pre-flip, then $285k+ post flip. Knocking $100k off what you think market value should be might be in the ball park. However, you'd never know for sure unless you ask around and get real offers.

[USMC88-93]

I would not come out upside down no matter what I sold it for I am just trying to figure out how to come out with enough to make a reasonable offer and down payment on something else. Market has calmed down significantly over all I am just hopeful that this local area is still pulling in interest.

Im not looking to pull in what a functional move in ready home would bring I am aware of the house deficiencies and know it would likely sell to scrape I just need to check into what houses in similar circumstance are bringing in.

[WETWRKS]

Call a reputable realitor in the area. They should be able to give you a decent idea of what you can get for it.

[Great-Kazoo]

I would not come out upside down no matter what I sold it for I am just trying to figure out how to come out with enough to make a reasonable offer and down payment on something else. Market has calmed down significantly over all I am just hopeful that this local area is still pulling in interest.

Im not looking to pull in what a functional move in ready home would bring I am aware of the house deficiencies and know it would likely sell to scrape I just need to check into what houses in similar circumstance are bringing in.

Based on your response. Set a price that's above what you need for a down stroke on another house, know your bottom dollar and go from there. You're basically selling the land with all utilities at the curb.

Remember You don't care what they need to do, how much it's going to cost etc. . They're already interested since they have come to look at the property. How you work the deal to come out ahead, that's up to you. Offer to split closing cost, no realtor involved. IF they insist on a realtor, that commission comes out of their pocket IMO for what you're selling i'd avoid a realtor since that will wipe out 3-6%

[skoodge]

From an FHA underwriting perspective, a hod appraiser will find the furnace, foundation, and wiring issues during his inspection. And he would make his appraisal "subject-to" the repairs of those items. Meaning, the will need to be fixed prior to an FHA loan closing. A conventional loan would be very similar if not the same.

[fitz19d]

Semi related..... Anyone know a buyers agent in northern CO? Looking to get north or east of Fort Collins though a brief look on redfin saw very little available in between tailor homes and our too large suburban 4 bedroom home. Land seems to only be available in massive 50+ acre plots. Still kinda would like to do a prefab home on a foundation with basement but by the time you get utilities ran may not save anything over conventional home. Normal homes don't seem to see lower prices for being in the sticks until I'm all the way to Eaton.

Torn on just keep commuting from frederick to ftc @ prospect or sell and find a place with a yard for rent (dogs)

Bought 255, neighbors been selling 370-390.

[def90]

I would not come out upside down no matter what I sold it for I am just trying to figure out how to come out with enough to make a reasonable offer and down payment on something else. Market has calmed down significantly over all I am just hopeful that this local area is still pulling in interest.

Im not looking to pull in what a functional move in ready home would bring I am aware of the house deficiencies and know it would likely sell to scrape I just need to check into what houses in similar circumstance are bringing in.

What is your lot zoned as? I have a friend east of you on Lowell, his lot is zoned for a duplex. He’s had a lot of builders offer to buy him out over the last year to tear the house down and replace it with an upscale duplex. Generally in your area you should be able to look around at who the builders are that are doing the scrapes as well as look at city records to see who the buyers/investors are. If you can find the 2 or 3 people that are financing probably 90% of these builds you might be able to approach them and just say “hey, I’ve been thinking of selling, what do you think?” just to plant the seed in their heads. If your lot is in a good location you might be able to play along with a couple of them and see what happens.