How to Get Rid of a House that’s in Dire Need of Major Repairs
The time has come to sell your childhood home. But after a few decades of living there, it looks nowhere like the freshly-flipped homes around your area that you see listed online.
The goal is to appeal to the broadest range of buyers. To achieve that, you might need to make some updates. However, you’ve also seen builders buy properties in your neighborhood, only to demolish them and build new houses. This makes you wonder whether selling your home as is as a teardown can save you the effort of repairing it while getting you into your next home sooner.
Is a Teardown Viable?
Teardowns do not automatically mean old, outdated homes; they can also include relatively new structures and even luxury homes. It’s a common misconception that a home’s condition is the sole indicator of whether it is a candidate for a teardown. In fact, location plays the most integral role.
According to Brent Hall, a realtor with Jameson Sotheby’s International Realty in Chicago, builders seek properties in parts of the city that have the highest buyer demand. If your property is within a 10-minute walking distance to any train station, for instance, your property can be a good candidate for a teardown.
Should You Sell to Homebuyers?
The best way to sell a damaged house fast is by enlisting home buying specialists. When it’s the right kind of property, buyers are happy to make a good offer on a property, and often in cash. Working with reputable home buyers makes the process of selling a dilapidated home a whole lot quicker and simpler. It also saves you from having to pay commission to real estate agents.
Selling to home buyers is your best option if you’re selling the property as part of a deceased loved one’s estate, or if you have absolutely no time to test the market to offload your house. If you’re looking to move to your new home as soon as possible, it’s a bad idea to spend a significant sum to prep a house that’s in poor condition. Home buyers let you sell the house for cash in Orlando, and make a quick exit.