# Sell as is or repair first



## Janis R (Jun 27, 2013)

We have a 16 year old manufactured home on 41 acres.
At minimum the house needs repairs to the MBR bath floor, roof hole repair, driveway re-graveled, paint inside walls and new skirting.

Would it be cheaper to repair and then sell or sell as is?
We would do most of the repairs by ourselves.

We love the property but there a number of shortcomings:
No water source besides well, has hand pump. 
There is a small pond about 300 yards uphill. 
There used to be a pond in lower pasture but had been dry for 15+ years. Property is very rocky. 
Runs high to low back to front and has ridges on both sides so we have a lot of water around home and down driveway.
Very small amount of level ground for farming and animals
No barn, needs new fencing for goats and pigs
No basement, no garage.

We own home outright, only have $300.00/taxes.
My hubby is 62 and I am 58, both on disability.
We have toyed with the idea of a reverse mortgage but we still wouldn't have a basement or a water source.

P.S. No family close by
Thank you for your imput


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## DAVID In Wisconsin (Dec 3, 2002)

I believe that most of the repairs you mentioned are fairly inexpensive repairs that should be made before you attempt to sell the property. I buy and sell real estate and these types of fixes seem to bring the highest dollar return and make them sell faster.


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## billinwv (Sep 27, 2013)

Old mobile? Both on disability, I would sell as is and cut my losses.


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## ChristieAcres (Apr 11, 2009)

DAVID In Wisconsin said:


> I believe that most of the repairs you mentioned are fairly inexpensive repairs that should be made before you attempt to sell the property. I buy and sell real estate and these types of fixes seem to bring the highest dollar return and make them sell faster.


I second this, as a Realtor. Most Buyers, who are willing to pay you market value, will expect more of a turn-key. The ones purchasing "as is," expect to get a screaming deal...

Sorry to hear you need to move, not easy for any reason.


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## Micheal (Jan 28, 2009)

I'd do the repairs, sounds as though they would be needed even if you weren't considering selling....


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## Skandi (Oct 21, 2014)

I would ask someone who knows your local market.


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## unregistered168043 (Sep 9, 2011)

I just purchased a house. As a buyer i can tell you that when I see a lot of little things that need repairs, I think 'what else needs repairs that I cant see?' When I see all the little things kept up and in good working order I think there was somebody taking good care of the place.

I sold a ahouse a few years back too. Was having trouble selling it in the beginning. i hired a person to 'stage' the house...they put in decorations and had me paint a few rooms. House sold in 3 weeks. Alot of what makes a house sell is appearance and all the little details. Most people who buy are not construction experts, they go by superficial appearance.


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## Bellyman (Jul 6, 2013)

I don't know if it holds true everywhere but with a broken leg, I tend to have it propped up with HGTV on in the background. They have a lot of fix-it-up shows where they buy low, fix up, and hope to sell at a profit. When things go well, it is not uncommon to get back the repair investment and 20% to 50% more. Granted, they're staged to the hilt. 

I don't know how accurate those numbers would be in real life, you and me, situations as opposed to television. But it would seem that fixing up generally raises the sale price by more than the fix-up cost if one is careful about spending those repair dollars.

Good luck!


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## mnn2501 (Apr 2, 2008)

Janis R said:


> We have toyed with the idea of a reverse mortgage but we still wouldn't have a basement or a water source.


Reverse mortgages sound like a good idea. but what happens when you can no longer care for the property? or you fall behind on taxes?

Older Brother did a reverse mortgage then lost half his income (partner died so no more SS from her) he got behind on taxes due to a special assessment the city pushed through and he lost the house (bank repo's a reverse mortgage if you fall behind on taxes or upkeep - and its their definition of upkeep, not yours that they use - prior to the tax situation they forced him to make some fairly expensive repairs or lose the house). 

I would sell outright before ever thinking of a reverse mortgage.


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## MO_cows (Aug 14, 2010)

Fix it before putting on market. Anything needing work, the potential buyers will want to lowball you. Fix everything that is truly deficient, and then declutter and make it look its very best.


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## po boy (Jul 12, 2010)

Reverse mortgage, you will get very little.
I would repair including well pump and if it's reasonably close to the things you need, stay there. $300 in taxes is only $25 per month.

If you cannot take care of critters, don't have any!


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## Declan (Jan 18, 2015)

I'd at least repair the roof and floor. If a house has a leaking roof and a rotted floor, I am going to assume the whole thing could be structurally unsound.


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## MichaelZ (May 21, 2013)

Appearance is everything when selling anything. People will focus on those defects (or clutter) rather than the good qualities. Take care of all the less expensive items you listed in your first list. 

Some of your second list items, like building a garage, will probably not allow you to recover the cost.


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## mmoetc (Oct 9, 2012)

Cost- benefit analysis. How much is the property worth as is? How much would the repairs cost and how much would the property be worth afterwards? Do the repairs add enough value to cover their costs? Around here a 16 year old manufactured home might take value from a property. Stick built homes generally hold their value, manufactured homes can depreciate. A lot of people might see it as a tear down so they could build their dream home. I'd find a couple of good local realtors and get their advice and numbers on all the options.


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