Here we explore how to sell a house with foundation problems. When selling a home, it’s normal that you face certain challenges. And while you can work your way around some, you can’t avoid some until you tackle it. One of these unavoidable problems is foundation problems. You must figure out a way to fix the foundation problem before you proceed to sell your house.
This article will show you your options for selling a house with foundation problems. Continue reading to learn more:
Get a professional to inspect your house and get a repair quote
Do not overlook any cracks, whether major or minor. Also, do not try to fix the foundation problem yourself, even if you can. But, your insurance company or lender would like an official documentation of the repair which is why you must get a professional inspection and repair quote.
First things first, find an inspection and repair company to give you full details of the foundation problem at hand. The report of their inspection would determine which option to choose when selling your house. You have mainly two options to sell your house with a foundation problem and they include fixing your foundation before selling or selling your house as-is.
If you choose to fix your foundation before selling your home
If you’re able to fix your foundation problem before selling your home, it means you’ll be able to sell your house for a high price. Originally, the foundation problem would be the reason why your buyer takes back their offer on your home or chooses to pay a lower price.
Also, you must know that banks and other financial institutions may not offer loans to your buyers if the damage to the foundation is substantial. However, if the foundation issue is not too substantial, you can easily repair it and sell it to an interested buyer.
If you choose to sell your house as-is
You may think it’s impossible to sell a house with a foundation problem, but that’s not always the case. Some buyers are even looking for houses they can buy and invest in. They want houses that need little upgrades and renovations. These buyers are called real estate investors and they won’t mind buying your house with foundation problems.
However, if you sell your house to a real estate investor or cash house buyer, then you won’t be able to sell at your highest selling price. This is because, after buying your house, they will still invest thousands of dollars into renovating the house to its best condition.
Whether you choose to sell your house as-is or you choose to repair it before selling, you’ll surely find a buyer. But if you’re looking to sell your house fast without spending on renovations, selling to a cash house buyer is your best choice.
However, whichever option you choose, you must ensure to be transparent with your buyers. Do not give them a reason to think your house is in good condition whereas it’s not.
At Home Cash Guys, we buy houses Philadelphia at the best price. All you need to do is let us know the exact condition of your house, accept our offer, and then we’ll buy your house.
Contact us today to learn more about our services!