Signs of a Hasty Flip That Turn Off Prospective Buyers
So, you are looking to flip a property and make some profit while at it. You either already own a property to flip, or you are considering buying one and renovating it. Whichever the case, a hasty flip can potentially tie up your finances if done wrong. How so?
Well, prospective home buyers are becoming more aware of hastily flipped houses, and they are very vigilant with such properties. A tiny detail can make a potential buyer reverse their buying decision, and this leaves you with an unsold property and tied-up cash flow.
But fret not! We are here to disclose signs of a hasty flip that will turn off prospective buyers. These are four common pitfalls that you should avoid at all costs to ensure you secure the sale.
1. Foul Odors
A strange smell welcoming potential buyers into the property will turn them off. Stale smells could be caused by mold or rot in the house. It could also point to insufficient air movement in the house or a weak link in the plumbing system.
Therefore, it is in your best interest to find the cause of any foul smells and deal with it. You could hire a plumber to troubleshoot the plumbing system and get ahead of any leaks. You can also restructure the HVAC system to ensure enough air circulation in the house.
Before welcoming potential buyers into the house, assume you are potential buyer one and walk into the house. Based on the aura of the house, would you buy it?
2. Shoddy Paint Jobs
When it comes to buying property, first impressions last. Potential buyers can be turned off by a poor paint job. They scrutinize inconsistencies in paint shades, uneven brush strokes, or even air holes. Sometimes, a fresh paint job could also mean a hasty flip to your potential buyer.
For these reasons, you should invest in your renovation work and choose the best quality paint. Ensure the renovation works are done well in advance to give the house time to settle in and lose the fresh paint smell. It also pays to hire experienced painters with proven track records to do your paint jobs.
3. Poorly Done Doors and Windows
Potential buyers are most likely to scrutinize the doors and windows. If they do not open and close smoothly, then some buyers may not buy the house. Also, doors that open the wrong way can influence a potential buyer’s decision. In addition, inconsistencies in the types of hinges used or the design of the door knobs could be deal-breakers for some buyers.
Therefore, do not spare expenses in your finishes. Ensure you go for the best quality for your doors and windows, and consistently use the same designs with all the doors and windows in the house. This could go a long way in convincing a potential buyer of the high quality standards upheld in the house, and it could secure the client’s signature on the paperwork.
4. A Faulty Garage Door
Properties with a garage could be hard to sell if the garage door is faulty. A door that doesn’t open smoothly, or makes noises when opening could be an eyesore for a potential client. Also, a garage door that is old or rusty, and without a fresh paint job can turn away a potential buyer.
What can you do about this? Simply replace it. It is not that expensive when you consider the bigger picture of selling the entire property. Another option is repairing the garage door. The point is to ensure the garage door is working perfectly.
In sum, remember that the devil is in the details when it comes to flipping properties. Ensure that you insist on quality renovations because cheap is usually expensive.
If you are looking to renovate a house but you are unable to meet the expenses of quality renovation, then Michael Leafer is the man for you. At Leaf Management and Funding, you get access to short-term lending to enable you to renovate the property. To learn more about how Leaf Management and Funding can help you renovate a property, contact Michael Leafer today!