A damaged house is difficult to sell in almost any real estate market. The average buyer does not want to sink thousands of dollars into a home after taking on a sizable mortgage. Plus, there are more options for buyers today. So, the motivation to sell your damaged house is low compared to a house that does not need any major repairs.
Still, it is possible to sell a damaged house. You could list it on the market and go through a realtor. Or, you could attempt a For Sale by Owner (FSBO). Either of these options is possible if you are willing to wait several months or years to sell the property. However, if you want to sell your house damaged house fast, you may want to work with a local home buyer in Louisville, Kentucky.
What is a Damaged House in the Real Estate Market?
Most houses that need work require only cosmetic repairs or design renovations. While some of the projects can be expensive, they usually pay off with a higher ROI. In the real estate market, a damaged house is a house that is either too dangerous to live in or requires expensive structural repairs. These types of repairs are neither profitable for a seller nor practical for a buyer.
There are several reasons why a damaged house will not sell in the market, including
Safety Hazards
Most damaged houses have major structural problems that make them unsafe to live in.
- Weak roof
- Worn out framework
- Holes in the flooring
- Damaged electrical system
- Termites
- Molded or rotting wood
- Cracked foundation
These types of problems put new homeowners at risk of injury or fatality. Furthermore, there is no guarantee that the home will protect the owners during severe weather.
Expensive Repairs
Some of the most expensive house projects involve repairing structural damage. Foundation repair, roof replacement, mold remediation, central air replacement, ponding issues, Septic system replacement, or water line replacement can cost thousands of dollars. If you are trying to sell your house, you may not have the funds you need to make the repairs and make the property sellable.
Trying to pass these repairs off to a new homeowner is nearly impossible. A buyer simply doesn’t want to sink thousands of dollars into a repair right after moving into a home. They’re too busy dealing with a new mortgage and monthly utilities.
Insurance and Warranties
One of the selling points of a home is that it is still under warranty or insurable. A home in good condition costs less to insure than a damaged house. Someone who is buying a house may not afford large insurance premiums just to live on the property. Even if they can afford insurance, there is a good chance that the home is no longer under warranty due to the damage.
If a storm or fire damages the home after you sell it, the homeowner may have to incur 100 percent of the repair costs. The insurance company could easily deny a claim, citing that the home had pre-existing damage.
Learn How to Sell Your Damaged House Fast
Step 1: Contact Us: 502-458-2722
Call us today and tell us about your property. We’ll schedule a quick walkthrough of your house—no need to renovate or prepare your home.
Step 2: Get a Cash Offer
If we are interested in buying your property, we’ll make a fair, no-obligation cash offer. We make most offers within 24 to 48 hours.
Step 3: We Pay Cash for Your House
If you accept our offer, then you schedule a closing date that is convenient for you. We pay all closing costs and put cash in your hands in as little as seven days after closing.
Why Choose We Buy Real Estate
At We Buy Real Estate, we are dedicated to helping you avoid the complicated process of selling your home. We have worked with hundreds of home sellers. We can help you sell your house now instead of waiting for several months to find a house buyer. What do we offer?
A Fair, Fast Cash Offer
Not all house investors are concerned about helping you. Some are only looking to see how low they can go with their offer. Our buyers are vested in your property and want to help you get the most out of your sale. We make a generous offer on your house based on a percentage of its value. Our cash offers are fast and fair.
We Keep Our Promises
We Buy Real Estate takes a critical and honest assessment of every home we buy. If we honestly believe that we can buy your house, then we will tell you upfront. Once we make a cash offer, then we will not change it.
We Understand Your Needs
After working with hundreds of house sellers in the Louisville area, we understand the needs of owners trying to sell a property quickly. We listen to your needs and concerns and act quickly to close the sale.
Sell My House Fast for Cash in Louisville, Kentucky
If you are ready to sell your house or commercial property, then now is the time. You don’t have to wait for months to sell your house. We Buy Real Estate can make a cash offer and put cash in your hands in as little as 30 days. Call 502-458-2722 to schedule a walkthrough of your property. Sell your house fast for cash in Louisville, Kentucky.