Selling a Damaged Property in Michigan
Aug 02, 2021 | Hometown Development
If your home has been damaged in some way, it may be harder to sell without a lot of expensive repairs. Fire damage, water damage, vandalism, or other kinds of damage can cause buyers to turn away when they see all the work involved. If you don’t want to be stuck with a lot of repairs, there are a few ways to sell without putting in all that work.
First, you will need to know how much work needs to be done. For example with fire damage, is the problem mostly from smoke or did the fire compromise the integrity of the structure? With water damage, is there mold and mildew hidden or just cosmetic damage?
Restore the Home to Pre-Damage State
You can fix all the damage before you sell. While this will give you the best price at selling time, it may not cover the costs of repairs. Plus, many sellers don’t have that kind of money or time to spend when they want to sell fast.
List the Home Anyway
You can always list the home as-is and disclose the damage to buyers. It isn’t against the law to sell a damaged house, but it can be quite challenging. You’ll need to find a buyer who can get financing for such a property and someone willing to take on the work. Even in a seller’s market, you might have a hard time finding such a buyer in the traditional market.
Sell As-Is to a Cash House Buyer
On the other hand, cash buyers aren’t afraid of homes with damage. They are experienced at buying properties that come with problems. In this situation, you can sell without worrying about making repairs or trying to find someone willing to take a risk on a damaged property.
Do you want to sell your damaged property fast? Talk to the team at Hometown Development. We are always looking for homes just like yours that need a little extra TLC. We’ll make you a cash offer, so you can sell your property in as little as five days. To find out more, reach out to us online today.