Professional renovators who purchase distressed properties at a discount (often around 70% of the After Repaired Value, or ARV), fix them up, and resell them for a profit.
When these groups look at an old house, they prioritize the following: who buys old houses
Companies or individuals who buy old houses to renovate and rent out for long-term passive income. For investors, a "bad house in a good
Often attracted to older homes as a more affordable entry point into the market. This is the most common group for houses
For investors, a "bad house in a good neighborhood" is the ideal scenario for maximizing return on investment.
Selling an Old House? Here's How to Get the Best Offer Fast!
This is the most common group for houses that require significant work. These buyers are often looking for properties to "flip" or turn into rentals.