So you have a home with a bad foundation. You know that it will need extensive repairs before anyone would be willing to buy it. But can you still sell it as-is? The answer is yes, but there are a few things you need to keep in mind. In this guide, we will discuss what home buyers will expect when they purchase a property that needs major repairs and how you can prepare yourself for sale.
When selling a home with a bad foundation, it is important to disclose the issue to potential buyers. They will likely have questions about the extent of the damage and how much it will cost to repair. It is important, to be honest with them and provide as much information as possible. You should also be prepared to sell the home as-is. This means that the buyer will be responsible for any repairs that need to be made.
If you are selling your home as-is, it is important to price it accordingly. The buyer will likely need to factor in the cost of repairs when making their offer. It is also important to be realistic about the condition of the property.
First, we all know that foundations naturally settle. Think about the earth shifting as time goes on where the foundation may settle into the ground as this is usually not a problem as long as there are no water intrusions inside the home. Also, the type of foundation (from a slab, crawlspace, or block/basement) also influence the types of problems you could have with your foundation. The problems that you have to be concerned about as an Indianapolis home seller are with the following:
After seeing your home has such issues, what are the next steps on fixing the foundation of my home?
The first step is to have the foundation inspected by a qualified inspector. They will be able to tell you what needs to be done and if your home is in danger of any further structural damage.
The next step is to get an estimate from a foundation repair company on the cost of repairs. This will help you determine if it is worth repairing the foundation or if you should sell the home as-is.
If you decide to repair the foundation, it is important to use a reputable company that specializes in foundation repairs. They will be able to make the necessary repairs to stabilize the foundation and prevent further damage.
Once the repairs are made, it is important to have the home inspected again to ensure that the repairs were made properly. This will give you peace of mind and help you avoid any future problems.
Selling a home with a bad foundation can be a challenge, but it is possible by disclosing the issue to potential buyers, being honest about the condition of the property, and pricing it accordingly.
In summary, most buyers will overlook your property and not take out the time and financial resources to fix the property themselves. At JAG Buys Indy Homes, this is one of our specialties where we take the hassle of selling your home without any repairs needed on your part.
If you’re ready to just get rid of the home and start fresh, we’re prepared to make a cash offer and close in 30 days (sometimes as little as a week). Just call 317-550-3712 to get started.