How to Sell a Home That Has Foundation Issues
Selling a home in good shape is tough enough as it is, but selling a house with foundation issues can seem nearly impossible. Buyers look for major problems when touring open houses, and issues like foundation cracks, sagging floors, and warped ceilings are all red flags.
But selling a house with foundation problems is possible as long as you set realistic expectations, do your research, and find the right real estate agent.
Examine the Problem
Before you put your home on the market, hire a professional to take a look at your foundation and determine how bad the problem is.
Many foundation problems start small—a hairline fracture in the wall, water damage in the basement, or floors that slope ever so slightly—but if left unaddressed, they can turn into major issues. A foundation repair expert can tell you exactly where the problem is, what needs to be done to fix it, and how much it will cost.
Even if you plan to sell the home as is without fixing the issues yourself, it’s a good idea to know how much repairs will cost so that you can price the home accordingly.
To Fix or Not to Fix
If you’re planning on selling your home, it can be tough to determine whether you should fix the problems first or sell the house as is. Selling a house with foundation repairs already made will get you more money for your home, but it also costs much more upfront.
Talk to a real estate agent to determine about how much you could get for your house if you sold it as is with problems versus if you repair the foundation first. If the problems are relatively minor and affordable, it may be worthwhile to invest in the repairs and then sell your home for a higher price. If the problems are too expensive for your budget and you’re willing to sell your house for less to get it off your hands, your other option is to sell it as is.
Selling Your House for Cash
Another option you have is to sell your home as is for cash to a home investment company, such as STL Real Estate. An agent will walk through your home and examine the issues, and then you’ll receive a cash offer in as little as 24 hours. You can then choose to accept the offer or work with an agent to list your home and wait for the right buyer to come along.
No matter which option you choose, it is possible to sell a home with foundation problems. There’s a buyer out there for every house, and the first step to finding that buyer is discussing your situation with your local real estate office.