FAQ: Can You Sell a House with a Condemned Boiler?
Some repairs are just too big, and too costly, to take on when it comes time to sell a house. When you also need to sell your home quickly because you’re facing foreclosure or need more funds to take care of your family, just thinking about the potential investment of extra time and money can sap your energy. Fixing cracks in the foundation or replacing knob-and-tube wiring, for example, may simply have to become the responsibility of the home’s new owner. Updating the kitchen and bathrooms certainly will. At least, if you have to move fast, that’s what you’re hoping for.
When part of a home has been condemned, however, will home buyers even show interest? Can you sell a house with a condemned boiler, for instance? It can be tough, but that doesn’t mean it’s impossible. Here are a few things to consider before you try.
Can You Sell a House with a Condemned Boiler?
Over the years, the use of boilers to generate heat for single-family homes grew less popular as natural gas and electric furnaces, as well as electric heat pumps, came to be viewed as safer and more efficient. In fact, by 2015, most American households were using one of these three methods for heating their homes, according to the U.S. Energy Information Administration. But, depending on where you live—and how old your home may be—it may not be that uncommon that your house is outfitted with a boiler.
It’s not necessarily unusual for a safety inspector to condemn a boiler, either. Though code regulations can vary from state to state, every inspector has the same goal: to keep your boiler working properly so that your household remains safe.
So, if the boiler has been condemned, that means a potentially serious issue—like carbon monoxide leaking, may be present. And, while you are legally allowed to sell a house with a known issue such as a condemned boiler, you’re required by law to notify any potential buyers.
The bad news is that repairing or replacing the boiler can be prohibitively expensive, depending on the extent of the damage. Repairing the ventilation system may only run you three to five hundred dollars, but when money is tight, that may be a few hundred more than you can afford.
Cost of Replacing a Boiler
If you have to replace the boiler, you’re looking at spending upwards of $10,000. Unfortunately, that doesn’t always include the cost to test the system and surrounding soil, the installation of a new tank, or any cleanup if there has been a leak. And, if the ground has been contaminated because of a leak, your expenses will likely double—at least. Even under the best of financial circumstances, the hit your bank account may take will hurt.
Of course, if you don’t repair or replace the boiler, you may have trouble finding a buyer. That can be just as painful. Traditional home buyers—if they’re not scared away by a house that requires major repairs—usually need a loan to fund their purchase. Most lenders, however, won’t finance a fixer, especially one in which part of the home has been condemned.
Selling Your Home As-Is
That means if a buyer really wants your house, and it’s critical that you sell the home as-is, they’re going to have to fully fund the purchase themselves. Most buyers simply don’t have the financial resources to pull this off. Even when they do, your home can linger on the market for months until they find you (if they ever do). That can just complicate an already stressful situation—especially if you need to sell your house fast and for the best price possible.
As worrisome as all of this may sound, you’ve still got an option that may be your best solution.
If you sell your home to a cash buyer who specializes in buying houses in any condition, you can sell a house with a condemned boiler—without making any repairs or putting your home on the market.
You don’t even have to paint your house before selling, plan for any showings, or haul away the trash. In fact, you can just take what you want and leave what you don’t and still get a fair, fast, cash offer. The best part is, you’ve already found such a buyer.
Sell Direct to a Home Buying Specialist, Worry-Free
Our mission at Sell Your House Direct is to solve complex problems as simply as possible. And, we don’t see any situation as hopeless. So, when our clients need to sell their homes fast but are faced with potential repairs that can slow things down, we’re there to take the house off their hands as-is and for cash. We can do it within a time frame that works best for them, too—in as little as a week, if that’s what they need.
We’re more than happy to provide a solution to you as well—fee-free, with zero strings attached. So, if you don’t like our offer, you’re under no obligation to take it. We’ll even help you find the best solution to meet your needs. As home buying specialists, and your trusted real estate advisor, our goal is to help you reach yours. We know you can sell a house with a condemned boiler and, one way or another, we’ll help you do it.