OK, this (photo) may be a little extreme, but you get the idea…
Does your house exhibit significant water damage, bad electrical, terrible insulation, or have more holes in the roof than your shower nozzle? Is it some combination of the above or more, without any insurance to cover the disrepair? Whatever the case may be you have self-proclaimed your home a disaster area and with limited income you’re wondering what they heck to do next. Let’s take a look at what steps you need to take.
4 Final Steps To Take When it Seems That Your Home is Damaged Beyond Repair
Get a Second Professional Opinion
Sometimes, what seems like an impossible situation is not quite the case, especially if you’re looking at it with jaded eyes. You may have received a home inspection, be it from a nosy know-it-all family member or local contractor, but it’s a good idea to get a second opinion from a professional before you throw in the towel. Make sure you receive a total of two FREE inspections/estimates from a home repair specialist near you. If the results are relatively the same you will have a more clear picture of the verdict.
See if the Home’s Equity Will Cover Repair
If you outright own the property, connect to a local bank or broker to find out if you have enough equity to cover the home repair estimate (item #1 above). That said, if the home is in that bad of shape, this may not be all that viable. But if it is, and the terms on the loan are manageable for your financial situation it may be an affordable option. If not, or digging into an equity hole doesn’t sound appealing, keep reading.
Assess Possibility of a Private Sale
A real estate agent or Realtor won’t accept a property in disrepair. And if they do, it won’t get much of their attention and you’ll be sitting on the decaying house for even longer, watching its value plummet into nothingness. So what are you to do?
You may consider an attempt at a private sale, listing the property with FREE “sell all” listing services such as Craigslist or Kijiji, and go old school with a FOR SALE sign post on the grass and let word-of-mouth spread like weeds in the front yard. While this is a better option than desperately seeking the services of a Realtor or agent, it adds a lot of stress on you. For one, you’ll have to provide full disclosure about the run down property, or run the risk of backlash. You will also be at the mercy of wolves at the door, those offering you way below the most modest of asking prices, knowing that you’re in the eleventh-hour. And if you do find a buyer, you run further risk should they refute the purchase after taking possession, claiming that some damage was undisclosed prior to sale. Even worse, if they sustain an injury or loss from what can be proven as undisclosed damage, you may be liable for significant claims.
There is simply too much to risk by selling the house on the market on your own. Keep on reading.
Sell for Fair Market Value to a Professional Service Today
This is the final and most logical step when it comes to a house beyond repair. If your old home is located in the Greater Winnipeg area you’ll find peace of mind when connecting to 5 Day Cash Offer. We will buy your house, no matter the run down condition (featured image aside), for FAIR MARKET VALUE. Better yet, we pay cash in hand within the week of the agreement to move forward with the sale. Yes – it’s that simple. The only caveat, is that you need to watch out for other buyer services out there, as you will not be afforded the same personal yet professional courtesy. Learn more about how to choose a buyer for your old and damaged house. Once you do, contact us today at 204.222.0022 to learn what we can do for YOU.