Most realtors will tell you the biggest barrier to selling your house is the location. But ask any certified home inspector, and they’ll tell you an entirely different story—it’s actually the foundation. That’s largely because foundation issues occur gradually and often go unnoticed until it’s too late. If you’re looking to sell a house with foundation issues, then look no further. We’ve got some recommendations for you!
These kinds of homes can be expensive to repair. National estimates indicate it can cost upwards of $4,000 to repair a house with foundation issues. That’s just for average cracks and fissures. Major repairs could easily cost well over $10,000. That’s on top of other household repairs, inspection and appraisal fees, lender fees, and other costs that can significantly reduce your final offer.
Virtually all lenders will require a home inspection before approving a loan. If you’re trying to sell a house with foundation issues, here’s what you should know.
It May Not Be as Severe as You Expect
Both lenders and appraisers take everyday wear and tear into consideration when determining a home’s value. While it’s always a good idea to make improvements before selling, it may not be practical within your budget or timeframe. Minor foundation issues in an otherwise well-maintained home may not drastically affect your final sale, especially if your property is in a desirable location or has historical value.
Be Prepared to Settle for Less
Buyers are often hesitant to purchase a home with foundation issues, and understandably so. Structural concerns can be a safety risk, and repairs can be costly. If you’re pricing your home competitively, some buyers may still be interested—but often at a reduced price that accounts for repair costs.
List Your Home As-Is
There is a growing number of buyers interested in fixer-upper properties. These individuals enjoy taking on renovation projects and turning homes into something new. However, they can be difficult to find. In most states, you are legally required to disclose any known damage before selling your home, which can limit your pool of interested buyers.
Sell Your House to a Home Buying Company
Another option is to sell your home as-is to a home buying company like Rapid Home Solutions. These companies specialize in purchasing homes in any condition, including those with foundation issues. They evaluate the property and make a cash offer without requiring repairs.
If you need to sell your home fast, Rapid Home Solutions can provide a reasonable and negotiable offer within just a few business days. It can be a simple and effective solution for a complicated situation.
Don’t feel like dealing with the hassle of fixing a home that has foundation issues? Contact us today! We’ll buy your home as-is so you can move forward without stress. Want to learn more? Give us a call at 925-483-7327 or fill out the form below!
