Recommendations for Selling House with Non-Fixable Issues

Homeseller Forum
1

Hello - I have a house which I bought in 2022, probably for more than I should have ($275k). Although it’s freshly renovated with new appliances and roof, and located in a favorable area, it has some negatives that can’t really be fixed. Here are the main issues:

  • House is old (built in 1917)
  • VERY close to the road
  • Tiny backyard/lot size
  • Upstairs has small rooms and the 2nd bathroom has a tub that is under a slanted roof (so a tall person can’t stand under it).

I didn’t mind these things much as a single person when I bought it, but I also didn’t think about resale value as I had planned on living there for a long time. However, my mother passed away, and I inherited the family home, so I want to sell this house.

The house has been listed for a month with about 50 showings so far (some being open houses). There seems to be a lot of interest initially, but I’m getting no offers. The price started at $310k and was reduced to $299k. The negative feedback I’m seeing is mostly about the issues I outlined above, so buyers are noticing them. I’m concerned that I won’t be able to sell this place without a significant loss. It’s getting close to winter now, which I feel will make things worse.

Any advice on what I should do? Should I keep riding it out and hope someone finally makes an offer? Should I consider one of those companies that buy houses in any condition? Note: I’m not looking for a realtor at this time, just general feedback/advice on potential actions I could take or what to expect.

2

Consider staging the home to highlight its positives. Sometimes a fresh perspective can help buyers see the potential. You might also want to lower the price further; if you’re not getting offers, it might be too high given the issues.

3

If you’re seriously considering selling quickly, those companies that buy houses in any condition can be an option, but be aware that they often offer below market value. It might be worth it if time is of the essence.

4

Given its age, market it as a charming historic home. Highlight any character features that might appeal to buyers looking for something unique. You could also consider offering a home warranty to ease concerns about older systems.

5

Winter can be tough for selling, but if you hold off until spring, the market might open up. However, don’t let the house sit too long without any offers; you might want to adjust your strategy sooner rather than later.

6

If you have the option, consider renting it out for the winter until the market improves. This way, you can avoid a significant loss and reassess when the weather and market conditions are more favorable.