From hurricanes to wildfires, floods, and ice storms, disasters don’t come with warning. And no one wants their home to be the first to suffer from a natural disaster.
However, structural damage doesn’t need to happen in a disaster area. Nor does it need to destroy your home’s value.
Today, we’re sharing tips for selling a house with structural damage to help you get the best return on your investment and move quickly towards your new home.
1. Analyzing the Extent of Damage
Analyzing the extent of damage is an essential task when selling a home with structural damage. Take accurate measurements, both inside and outside of the house. This is to determine if the damage is isolated or if it affects the overall stability of the structure.
Check for visible signs of distress, such as cracked walls, bowed floors, and additional signs of instability. Inspect any areas where elements like plumbing, wiring, or gas may have been compromised.
A comprehensive structural evaluation of the foundations, framing, and other major features should be conducted to determine the overall condition of the property. Being aware and honest of all potential issues upfront can help to ensure a smooth and successful sale.
2. Hiring an Appraiser to Assess Value
When selling a house with structural damage, it is important to hire an appraiser to assess the value of the property. The appraisal provides important information the seller can consider as they move forward with the transaction.
If there are major structural issues, this will be captured in the appraisal. The report can also help the seller determine whether repairs are needed or negotiating a reduced price is more prudent.
The appraiser should inspect the entire exterior and interior of the home. This includes roof, basement, walls, plumbing, electrical, HVAC, and any other relevant elements. This will provide an accurate assessment of issues that need to be addressed before marketing the home.
The appraisal will also come in handy if the seller runs into any financing difficulties later on. Having access to such a report will demonstrate that the appropriate steps were taken to protect both buyer and seller. So don’t be afraid to post your house in the housing market, because there is a solution.
3. Deciding Whether to List As-Is or Make Repairs
When deciding whether to sell a house with structural damage as-is or make repairs, there are several things to consider. Check with a local real estate agent to ascertain the likely value of the home in its current condition.
Determine if the structural damage is likely to result in further damage or is repairable. Assess the cost of repairs versus the potential profit from selling as-is. Check for potential safety hazards, such as radon or mold.
Budget for the potential of a longer period on the market when opting to list as-is as buyers may require additional time to evaluate the property. These steps can help ensure that the decision to list as-is or make repairs is made strategically.
Don’t Let Structural Damage Stop You from Home Selling
With careful planning and expensive repairs, it is possible to sell a house with structural damage and make a profit. With these tips and the assistance of a real estate professional, you can ensure a successful sale.
Don’t hesitate to contact a professional to get your house selling process started today!
Looking for more articles aside from home and real estate? Check out our website daily to be updated!