Whether you’re a first time home investor or a seasoned buyer and seller of property, short sales, foreclosures, and abandoned properties can be alluring for a variety of reasons. DIY folks and investors alike may instantly think of the profitability aspect of the home and imagine the dirt and sawdust on their hands immediately. While there is a potential profit to be made with renovations on these types of homes, there are also a few issues that should be considered “red flags” in that they can create major headaches for future renovations and/or sale of the home.
Cash 4 Kansas Homes has been buying homes for cash in the Kansas city area for years! If you’ve found yourself in a position of needing to sell your home fast, contact us! We can typically make an initial cash offer within 24 hours! In the meantime, we’ve listed out a few things that potential investors will want to avoid in purchasing a property. Do you have any of these issues?
Pest / Rodent Infestation
Some home investors may not think that an pest and/or rodent infestation is that big of an obstacle in the renovation or sales process of a home. However, a troublesome pest issue in the home can prove difficult to eradicate if it has been allowed to assert its presence for a long period of time, or if there are multiple pests to consider. Aside from an annoyance in terms of eliminating the problem, a significant pest issue can actually create concerns with the structural integrity of the home. Termites, for example, can weaken exterior studs and interior load-bearing walls if the bugs have been allowed to go unchecked or unnoticed. While they may seem like a minor irritation, moderate to severe infestations can cause potential buyers to look elsewhere because of safety concerns or high-dollar pest-control treatments.
Moisture Problems
If you find yourself in the position of needing to sell your home quickly, you may not have time or money to remedy all known issues with your home. When it comes to water damage, however, this is not something that should be overlooked or ignored. If you have water stains on your drywall or flooring, this is a sure sign that you currently have, or have had, some kind of moisture problem. This is something that potential home investors are sure to see when looking at your home. Some investors won’t even consider purchasing a home with water damage or apparent moisture problems. Cash 4 Kansas Homes purchases properties in any condition, but in order to prompt top-dollar offers on your home, it can be a good idea to remedy moisture problems before showing your home to potential buyers and home investors.
Structural Problems
Any indication of structural weakness or issues of integrity are likely to be a big “red flag” for potential buyers and home investors. Not only does this issue present a significant safety concern in the home, but it also presents a potentially-large repair expense. Some people mistakenly think that only old homes are susceptible to structural problems, however, structural issues can be caused by a whole host of conditions, including settling to improper ground compaction. Some telltale signs of structural problems are cracking in your drywall, especially near door and window frames, and visible cracks in your home’s foundation. If you’re looking to sell your house to a home investor quickly, this may be something you’ll want to investigate and get a professional opinion on before speaking with any potential buyers. It will make the selling process more efficient and is best to be prepared with some answers for the anticipated structural questions that will arise with apparent structural damages.
Code Compliance
This one can be tricky unless you are well-versed in the building and construction codes in your municipality. For property and home investors, a few of the most cost-intensive renovations are roof replacements and plumbing and/or electrical upgrades due to code requirements. Some outdated roofing materials will not pass inspection by local code enforcement agencies. Likewise, if your home still has old knob-and-tube wiring or antiquated plumbing, it may be recommended, or required, to be replaced before the code inspector will sign off on your home’s compliance. While you may not be able to address code issues prior to listing your home for sale, being aware of these issues will help soften the blow when potential buyers request a concession to bring the home up to compliance.
If you have a home with some of the “red flags” we’ve discussed here today, it can be challenging to sell your home through the standard market with a non-specialized agent. When you’re looking to sell your home fast, in any condition, consider Cash 4 Kansas Homes! We’ve been helping homeowners like yourself for years, and we can help you, too! We can discuss all of your options based on the current condition of your home and help you understand what a reasonable offer may be. We’re here to help you, and we’ll gladly work to get you a fair, initial cash offer on your home, often in less than 24 hours. Connect with us by phone or online today!
