Yes. But you dont have to completely refurbish the entire property. Major repairs are important like leaking roofs, electrical problems, malfunctioning toilets and etc. The extra money you spend to fix these repairs could earn you a few hundred thousands more and help you sell it faster. No one wants to buy a rundown home, unless you are selling it for a really low price. If you are not selling it low then major repairs have to be in order to justify your price and make it reasonably appealing to your prospective buyers.