A Multi-Family Home

Selling Damaged Houses: What To Do When Selling A House With Issues

by Arnold Gomez

Are you faced with the prospect of having to sell a damaged house? You might find that you can't afford the renovations for the property -- or, though the property is technically habitable, it's simply unattractive. House flippers can find themselves in a situation where they can no longer invest money into a house, while individuals could find themselves inheriting a property that they can't put any work into. Either way, it can make it difficult to sell.

Get a Home Appraisal

If you're selling a damaged house, you need to create some feeling of assurance for prospective buyers. The first step is to appraise the property itself, to show the buyers that the property does have value. Meanwhile, you should also check the property values around your home. The higher they are, the better; this sets the price point for your neighborhood and shows what the buyers maybe able to achieve.

Contact Any-Condition Home Buyers

Any-condition home buyers are companies that specialize in purchasing houses that require work. These companies are usually house flippers themselves, and they have the staff and resources necessary to renovate properties. Any-condition buyers are generally looking for properties that have cosmetic difficulties or issues that are easy to fix, but they will occasionally invest in homes with plumbing, electrical, and foundation issues as well. A benefit of these buyers is that they often pay in cash.

Provide Concessions

Sellers often provide concessions when they want to move a house. Concessions could include covering the closing costs for a buyer, including new appliances with the home, or even giving the buyer a credit towards specific renovations. A home that has garish flooring, for instance, could be sold with a $5,000 credit for new carpeting. This type of targeted credit can relieve some of the anxiety a buyer has towards purchasing a home that needs work.

Make Small Adjustments

It can be assumed that if you're selling a home that has issues, you've run out of money to invest. But there are still a few small things you can do to make a home look a lot better without a substantial investment. Painting the interior of a home can make it look bright and new -- as can cleaning up both the interior and exterior and removing clutter.

For the most part, nearly any home will be able to be sold. It just takes some time. You can work with a real estate agent to make sure that you have priced your home appropriately, but otherwise it's simply a matter of finding the right buyer.