How to Sell a Condemned Home
Condemned homes are more common than you may think. And their owners often wonder whether it is even possible to sell them. In order to answer this question, it is important to first understand what a condemned home is. It is a type of property that is considered by the local government unsafe and unsuitable for living in. If it is seized by local authorities, people are not allowed to live in this house.
There are many things that cause houses to become condemned, and here is a list of the most common reasons:
- Infrastructure failure
- Serious structural damage caused by weather catastrophes
- Unsafe building materials used to construct the house
- Termite damage
- Black mold
- Unsafe electrical systems
- Unsanitary and dangerous living conditions
Many people who own condemned properties want to sell them as soon as possible. If you are one of them, there are certain things you need to know in order to be prepared.
Is It Possible to Sell a Condemned House?
In general, yes, you can sell a condemned house. However, there are certain things you need to know and be prepared for. There are two options for selling condemned properties that are available: you can sell it the traditional way by repairing your property first or you can sell it as is for cash without making upgrades or repairs.
Repair Your Home First and Then Sell It
Many owners of condemned properties decide to repair the properties first and then sell them for a better price. Here is how this option works.
In general, repairing a condemned house is not a problem, but you need to consider the level of repairs and your budget. Sometimes, there are not many issues with the property, and you only need to fix one or two things to make your home suitable for living and selling. In this case, repairs are manageable. Also, most local authorities support homeowners trying to repair their condemned properties because it is good for the local economy and community. In some cases, they can even support homeowners financially.
If you decide to repair your condemned home before selling it, you should create a list of minor and major repairs that need to be completed. Start with minor fixes, such as uncorking light fixtures and broken cabinets. When the list of minor repairs is ready, you should determine the necessary major repairs, which usually include issues with the roof, foundation, and basement.
You can either hire a contractor who will complete all the repairs for you or do it on your own. Hiring professionals is definitely a good idea if you want to save time and make sure that everything is done correctly. Once all the problems are fixed and your condemned home is in good condition again, it is time for a new home inspection. If a home inspector does not detect any other issues and thinks your home is safe and suitable to inhabit, you will receive a Certificate of Occupancy.
Sell Your Condemned House As Is
What if you do not want to spend money on repairs and would prefer to sell your condemned property in its current condition? That is also possible. In that case, you could sell your home as is to a cash buyer, who will purchase it immediately and pay you cash. The best thing about this option is that you do not have to renovate your property at all — a cash buyer will buy in order to make all the changes and renovations themselves.
Here is why you should definitely consider this option:
- You work directly with a cash buyer — no third parties involved in the process
- You do not have to deal with a lot of paperwork
- You can save money on closing fees and realtor’s fees
- It is a great option for selling your house fast, within several weeks
Sell Your Condemned House to We Buy Houses Lubbock
If you have a home in Lubbock, TX, or any other nearby community, and it is condemned, you probably want to sell it and do it as soon as possible. One of the best and most efficient ways is to sell it to a cash buyer, and We Buy Houses Lubbock is ready to help. We purchase all types of homes in any condition, and we pay cash. If you have questions about our home-selling process or our company, do not hesitate to contact us at any time.