Brandon Mulrenin, director of brokerage services at In-House Realty, said it may not suit your needs to repair some of the issues found during an appraisal.
“My recommendation to folks that have these homes that are just trying to get rid of them is not that they go spend a bunch of money out of pocket,” Mulrenin said. “Why don’t you just lower the selling price because it’s not money out of your pocket?”
The data bears out Mulrenin’s suggestion. On CostVsValue.com, Hanley Wood publishes data each year on the cost of 30 different remodeling projects, comparing the cost of completing the project versus the return in property value.
Read more at https://www.quickenloans.com/blog/things-know-selling-distressed-property
ALSO SEE http://www.realtor.com/advice/buy/pros-cons-buying-distressed-property/?is_wp_site=1
