Funny, in my past 15 years, Most (over half ) would be buyers that approached me suggested they would like to look at Fixers and Repos. - This was becasue of their perception that they will save money by doing so.
If your area is typical, then you are competing with Fixers and Repos, - you will have to price your home competitively with them just for your house to be seen. - Then your house has to be in better condition than the repo or fixer (or cheaper), for it to produce an offer.
You should take care of Debris Removal, cleaning, and inexpensive fixes. - Appliances that are not repairable should be removed as debris.
If you have a median value house or below, it is usually better to do the above light fixes, and save your major repair money to lower the asking price. --
On the third hand...... if you already have an existing offer, and the buyer asked for the repairs, you may be better off just doing the repairs... if the existing buyer has already made it clear that they want the repairs and are willing to pay the list price.
1. If your home is in a neighborhood that is known for rental units you probably do not have to fix anything up to sale the home.
2. If your home is in a neighborhood where the majority is owner occupy, you will need to fix the home up as the new owners will desire a turn key property.
Best of Luck,
Josh Barnett, Realtor
Metro First Realty
If you have a home that needs work, but you live in an area where teardowns are occuring you may be better of selling as is (the value will be in your lot anyway.
I would check w/ a local Realtor & find out what the trend is in your area.
Speak w/ your Realtor about what buyers are demanding in your specific neighborhood. Local, at a micro level will be an important guide for the best decision.
It will probably get shown if you do not make the changes IF the home is priced accordingly. Basically, buyers will accept big chunks in reduced pricing to fix it up themselves. For every imperfection visible to their eye, start subtracting, because they will. It won't get shown if it's priced near the non-fixer-uppers in the current condition because those searchers will gravitate towards the one in best condition. Again, if it's drastically reduced in price and in the range of other fixer-uppers (but in slightly better condition) you will do better but at the cost of a slash of your would be sales price.
The majority of buyers like homes in move in condition. I have a lot of buyers that come to me wanting to look at "fixer uppers' then after going through a few ask to see nicer homes. Most people don't have the time or knowledge to fix up a home so you miss a lot of the potential buyers. The ones that do are looking for bargains and they offer much less then asking price.
NAR (National Association of Realtors) surveys indicate that home buyers prefer homes that are "move in ready". That doesn't mean that you have to fix it up, however you'll probably net more if you do.
In other words the amount that you give an allowance is more than it would cost to do it yourself. Also, listing time (Days On Market) will be longer, so you will net less.
Even if you are selling your home "as is" you still want potential buyers to fall in love with your home as soon as they walk in the door. They can't do that if the home is messy, disorganized or has obvious maintenence problems.
You would be best served by speaking with a local Realtor.
If you're in the Bergen County Area I could help...201-446-6363