Wrecked, Condemned And Falling Down: Why Your House Is Still Sell-Able And/Or Valuable
Posted on: 16 September 2016
If you have a home that has a lot of water damage, hail damage, wind damage or fire damage, or it looks like it might fall over at any time, you may be wondering if it is even possible to sell it. Actually, it is. Many homes in terrible condition, perhaps even worse than yours, are sold every day. You may not have been able to imagine your house sold, since it certainly would never grace the covers of Good Housekeeping magazine, but it is definitely sell-able, and here is why.
Flippers
House flippers, people who buy and overhaul homes for profit, will look at your property and still be interested. They see gold where everyone else sees a project for the nearby fire department. Even if the flippers are not interested in your property, they are not the last resort either.
Training Properties for Firefighters
If you own the property outright, you could donate it to the local fire department. This acts as a tax write-off on your behalf when there is absolutely no way you can sell the property for any amount of money. The firefighters then use the property for training exercises by setting the house on fire and having the junior firefighters put the flames out. The house gets demolished and the firefighters can then decide what to do with the property you have donated to them.
Any Condition Home Buyers
Any condition home buyers are people who buy up property of all kinds. They like to own as much land as they can and then attempt to develop it or alter it so that it becomes more valuable than when they bought it. They may also act as real estate agents, selling off the properties at auction or selling them in lieu of the real estate agents you would have hired to do this job. The biggest difference is that you get guaranteed cash up front, and you never have to wait for the sale of your damaged home and surrounding property.
Super-Cheap Rental
Other property buyers are looking for homes like yours so they can turn them into super-cheap rentals. The idea is that your home will be marketed to renters as "cheap, temporary housing that is very well-worn with cosmetic issues." As long as the problems with your house are not so severe as to put people in danger living there, and as long as the renters agree to pay rent and not be troubled by the defects, the problems "disappear" in the eyes of both the new property owners and the broke renters that live there for short periods of time.
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