Selling a House with Foundation Damage for Cash
Whether you’re getting a divorce or have gotten new military orders, moving is stressful. In fact, it’s one of the most stressful events that adults and their families can go through. When your move is preceded, even prompted, by another trying event—good or bad—it’s easy to think you might crack under the pressure.
Keeping the sale of your home as stress-free as possible—something an as-is cash sale can potentially do—is one way to get at least one stressor off your plate. Though, trying to sell a house with termite damage could put a snag in your plans.
Selling a house with foundation damage, or that needs major repairs of any kind, could be even more problematic—especially when you need to sell quickly.
You can sell your less-than-perfect home fast and for cash, however. And, we’ll show you how.
Selling a House with Foundation Damage
If you haven’t considered selling your home as-is for cash, you should. That’s not to say it’s the best solution for every problem. If your property is in great shape and you’ve got the time, energy, and motivation, entertaining offers from more traditional buyers could be a better option. Even a property that needs minor updating, like a fresh coat of neutral-colored paint or the addition of modern fixtures, will usually appeal to buyers who want a move-in ready home.
Selling a house with foundation damage to traditional buyers, however, gets a little trickier even if the home seems to be in decent shape otherwise.
The typical signs of foundation issues—like cracks in the walls, uneven floors, and doors and windows that don’t close properly—have to be repaired in addition to the foundation problem itself. Plus, though damage to a foundation is common in older homes and hillside properties, and can be caused by normal settling if something like flooding is the culprit, the repair costs could skyrocket.
Selling to a Traditional Buyer
Traditional buyers—who rely on loans to purchase their homes—aren’t usually going to go for a property in need of major repairs. Paying for what could amount to tens of thousands of dollars worth of work is simply not in their budgets. Even if it was, most lenders won’t approve a loan for the purchase of a house with foundation problems. If they did, they or their buyer might require that you perform the repairs, make concessions on your price, or absorb all fees associated with closing. Before you know it, it’s your costs that have skyrocketed.
Listing your home with a real estate agent who can market the property will probably produce buyers, but not likely within the timeline you need.
You may have to hold showings, allow inspections, and spend time in negotiations, too.
A full-service real estate agent won’t work for free, either. In fact, the only way to sell your property without paying commissions to an agent is to sell your house directly to an as-is all-cash buyer.
Selling to a Cash Buyer
Selling your property as-is to a cash buyer drastically reduces both your obligation to perform any repairs and the likelihood you’ll have to pay anything out-of-pocket. The cracks, buckled flooring, and sticky doors and windows—in addition to the damaged foundation and the issues that caused it—can become someone else’s problem.
You don’t even have to paint the house before selling it if you don’t want to. As-is buyers will take it all on. (Just be certain to disclose exactly what they’re taking on to avoid the expense of legal action.)
Without a lender involved, the sale of your house can go through quickly, too.
Buyers paying cash will typically close fast.
Some may even close in two weeks or less, which can be ideal if the sale of your home is a major source of stress.
What might actually eat up your time is finding a reputable as-is cash buyer in the first place—assuming you can find one on your own. Of course, if you’re reading this blog, then you already have.
Get Fast Cash for Your House and Great Service
The home-buying specialists at Sell Your House Direct see no home—or homeowner’s situation, for that matter—as hopeless. So, if you’re selling a house with foundation damage, or one that just needs a good paint job, we can buy it. We’ll buy it as-is and pay all cash, too.
If you also need to sell fast so that you can move on with your life or on to your next destination, we’ve got you covered there as well. We’ll close in seven days or less—or, at a time that works best for you.
Additionally, we’ll strive to make the entire process of selling your house as stress-free as possible. Disabled veteran-owned, we understand first hand how stressful moving can be. That’s why we emphasize with all of our clients that you simply take what you want from the house and leave what you don’t. We’ll handle the rest, including all of the repairs. If timing is really tight, we’ll offer you quick relief from your foundation concerns.