Best ways to attract fixer-upper buyers

Pricing, inspection reports take center stage

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Buyers tend to want listings that are in move-in condition. For that reason, sellers often put a lot of time and money into prepping their homes for market to realize the largest profit possible from the sale. But, is it worthwhile to fix a property up before selling if it is in a dismal state? It's usually worthwhile to fix up a needy property in a good location that has great potential and that can be improved considerably with cosmetic improvements. The reason why it makes sense to go through the effort is that most people don't have good imaginations and can't envision what a house might look like with work done to it. They simply relate to what they see. For example, last year a grand old home sold in Oakland, Calif. Neighbors went directly to the sellers and asked if they could take a look at the house before it was fixed up for marketing. The sellers agreed and showed them the house. The buyers didn't like what they saw. The house was subsequently improved by removing...