The scariest nightmare for homeowners is to face structural problems in their house. Structural issues can make your house unsafe, and unfit to live in. When such problems occur, they are not easy to fix, and can be extremely costly.
Structural problems are a cause of concern if you are trying to sell your house. When diagnosed through the buyer’s inspection, buyer’s will certainly reduce their offer, or even cancel the purchase agreement. Structural problems can arise due to poor building material, faulty design, poor construction practices or poor maintenance.
Diagnosing structural issues
Your house may be affected by any number of structural problems. Some visible signs to spot a structural problem are leaning walls, bulging walls, uneven or bouncy floors, sticking doors or windows, and cracks along the walls and foundation.
Most of the time, you won’t be able to diagnose structural problems on your own. If you are suspecting structural issues, get it inspected from a reliable and experienced structural engineer.
Selling your home ‘as is’ or ‘after repairs’?
The dilemma many homeowners face is if it is better to repair the home before listing the home for sale or disclosing the issue and listing the home for sale “as-is” at a reduced price. Your decision as the seller will depend on a number of factors, like your budget, the severity of structural issues, and how quickly you need to sell the home.
Structural problems can severely affect the price of a house. Fixing the issues first has advantages as well as disadvantages. Commonly, once the item has been repaired, the seller is not required to disclose the issue. However, one must also consider the marketability of the house besides the original problem. For example, when was the house last updated/remodelled? What are similar homes in the neighbourhood selling for? In other words, will the home’s retail value absorb the cost of the structural repair. Beyond money, house fixing takes a lot of time and effort.
There is another solution to sell your house with structural issues but without fixing them first. This is by selling your house directly to a cash buyer/real estate investor.
This is no doubt a quick solution and you won’t have to fix anything. By selling direct, you still have to disclose the structural issues, however, the real estate company or investor purchases your house “as is”, no matter what the problems are. They will offer you a fixed cash payment and typically close on your timeline. That can be an attractive option if you’re dealing with costly repairs.
If you are looking for a quick house sale, avoiding listing with a Realtor and opening your home to the public, Realty With Rich will make the whole process smooth, simple and easy. The team is positioned to help you make the best decisions and save your precious time and money. No one ever pays real estate commission with us. We will assist you in every step of transaction with no hassle.
Realty With Rich will gladly take on your problems with no questions asked, because we are a solution orientated company dedicated to helping homeowners solve challenging real estate problems. Call now for free consultation. (833) 442-SELL.