Is It Possible to Sell a Damaged House?
Listing your home for sale if there’s damage can be tricky. If you need to sell a damaged house, you may be able to get a fair offer if there’s minimal work that needs to be done. Other times, you might have to put in a little effort. We’ve put together some tips to help you sell your home as-is.
There are many different ways that a house can become damaged. If there’s a fire, there’s smoke damage as well as possible structural damage. Water damage, either from putting out a fire or from flooding, can bring its own complications. Mold and mildew are common even after the water is cleaned up. These can lead to structural damage, as well. High winds and hail are damaging to the roof. Finally, there are run-of-the-mill damages in the interior, from kids breaking things, or holes in the walls, or broken windows and doors.
When you need to sell a damaged house, you must understand exactly what the damages are and where they’re located. This allows you to be transparent with potential buyers as well as assess whether or not to do some repairs yourself.
Consider a Few Upgrades
That being said, consider doing a few repairs around the house. Removing mold and mildew professionally, through a remediation service, is essential. These growths can spread quickly and become progressively worse. If you’re living in the home, you run the risk of health complications, too.
Any structural damage that can make the home unsafe should also be fixed. The last thing you want is for your family or potential buyers to be injured in the house.
Smaller upgrades, however, may help improve the value of the home. A fresh coat of paint, fixing holes in walls or torn window screens, or making sure that all the seals and caulking are in good condition, are things that can be taken care of fairly easily and with minimal expense.
Enhance the Best Parts
Although it’s important to be honest with potential buyers about the condition of your home, you can sell a damaged house fairly easily if it’s in a good location or has other amenities that buyers want.
When you’re advertising your home for sale, make sure to point out the positives.
For example, some buyers may wish to live in a great school district but can’t swing the price of some larger homes in the area. These people may look with living in a slightly damaged house as a trade-off for great schools.
If there isn’t a lot of damage to the house, you may still be able to feature some amenities like a swimming pool or hot tub, or unique features in the interior, like a large master suite, new appliances in the kitchen, or recently renovated bathrooms. You may wish to speak with a realtor to get a better idea of what buyers might enjoy in the house.
Advertise as a Fixer-Upper
Advertising your home as a fixer-upper is a great way to quickly sell a damaged house. Some buyers may be deliberately looking for a fixer-upper, DIY enthusiasts that will enjoy renovating and installing custom upgrades to the basic structure of your house. Even homes that have extensive damages may appeal to people who are willing to tear the house down and rebuild on the lot.
Fixer-uppers can generally be sold as-is. Most buyers who chose a damaged house do so knowing that there are repairs to be made. Typically, fixer-uppers will have a lower asking price than homes in good condition, and you may not get as many offers since the majority of buyers to want a home that’s move-in ready.
Contract a Pest Service
Even the most determined home renovator may balk at buying if there are pests in the house. Insects, rats, mice, or even larger pests like raccoons should be exterminated or removed before you list the home. Often, these pests can cause disease through their droppings. They can also cause extensive damage to your home, including the electrical wiring, which can be very dangerous.
Have a pest control company come to examine your home before you list and make sure no furry friends are around to tank your sale.
Opt For Cash Buyers
If you need to quickly sell a damaged house, there are other options. Cash buyers, investors who specialize in flipping homes, typically buy houses as-is. These companies or individuals have their own sources of financing and will be able to purchase your home outright, as-is, for cash. This is different from a trading home sales process, as most buyers need to secure financing from a bank, which can take a while. Even then, there may be problems at closing, if the loan falls through or if a buyer decides they want concessions. Plus, as the seller, you typically pay the fees for both real estate agents.
Cash buyers, on the other hand, don’t use traditional listing agents, so every penny you make on the sale is yours. You can go from a fair market offer, no matter what condition your home is in, to having a check in your hand in as little as two weeks.
For a free, no-obligation quote on your damaged home, speak to the friendly representatives at SellHouseFast.com.