The process of selling a home and moving can be one of the most stressful events someone may have to tackle in life. Making sure your home is priced right and keeping it clean for unexpected, last-minute showings can cause homeowners a lot of anxiety and concern. In fact, it can be hard to imagine how the process of selling a home could be any more challenging that it already is. However, when you have a home on your hands that has suffered some kind of damage, selling it can be even more overwhelming than it typically would be under optimal conditions. Cash 4 Kansas Homes has more than 50 years combined experience in buying damaged properties “as is” for cash, and if you need to sell your house “as is”, contact us! We’d love to speak with you! In the meantime, we have a few tips to offer based on our prior experience.
Full-Disclosure
You’ve heard the old adage, “Honesty is the best policy,” and this has never been so true as it is with damaged houses for sale. Regardless of what kind of damage your home has sustained, if you’re looking to sell it to another party “as is”, it’s only fair and ethical to be totally transparent with regard to what the buyer will be getting him or herself into. If you have any doubts as to whether or not some kind of damage needs to be disclosed, be sure to check with a local real estate lawyer to ensure you’re not unknowingly violating the laws applicable to your market.
Obtain Estimates
When it comes to damaged houses for sale, potential buyers will want to know that you have done some legwork in determining the amount of the anticipated repairs. Additionally, your asking price should take this into account as well. When obtaining estimates, be sure to obtain more than one estimate from different contractors. Doing so will allow you to determine an average repair estimate. It might seem like a no-brainer, but be certain to obtain estimates from reputable companies that aren’t going to go out of business tomorrow. This can go a long way with potential buyers looking to secure a repair contract prior to closing.
Partner with Professionals
In our prior blog, we discussed various professionals that can be very beneficial to partner with during the process of buying, selling, and/or renovating a home. As we mentioned earlier, a real estate lawyer is a good person to have for referencing the legal aspects of selling a damaged home and the disclosure process. Likewise, a local real estate agent who’s worked with clients previously with damaged houses for sale is also an excellent partner to have in your endeavor. He or she may even know members of various mitigation companies to help you in the process of obtaining estimates.
Be Prepared to Negotiate
Determining the asking price for your damaged home can be challenging, but a well-experienced real estate agent can help you out with that. He or she can also shed light on and be helpful during the negotiation process by helping you to understand what to expect. Damaged houses for sale will rarely elicit the seller’s asking price. For example, a home with $25,000 in estimated repairs that might normally sell for $200,000 is not likely to garner an initial offer of $175,000. Many potential buyers will ask for concession fees related to unexpected expenses in addition to the actual anticipated repair amount. This can be a hard pill for some sellers to swallow, but with the help of a real estate professional, the art of negotiating on the price and coming to a palatable selling price is possible.
There are many considerations to take into account when you have a damaged home for sale, and it can be overwhelming as you try to navigate the complex world of obtaining estimates and researching legal requirements. If your home has sustained damages that you either cannot afford to repair, or just don’t have the time or energy to repair, contact Cash 4 Kansas Homes today! We are leaders in the Kansas City area for freeing homeowners like yourself from a burdensome or damaged home. Our process is quick and easy! We’ll buy your home “as is” for cash, and can often make an initial offer within 24 hours of consultation. Contact our team now!
