How to Sell a House with Termite Damage
Although it’s often tough to spot termite damage just by looking at a house, termites can cause serious (and expensive) problems if not addressed quickly.
Selling a house with termite history can also prove to be difficult, since not many buyers want to deal with termite damage. However, there’s a buyer out there for every house, so selling a termite-damaged home isn’t impossible. You just have to consider all your options and find the right real estate agent to help you.
Determine the Extent of the Damage
Termite damage often goes unnoticed, since it typically affects the “bones” of the house and not the visible parts, but it can turn a home into a dangerous and unlivable structure if not treated.
If you suspect your home has termite damage, call an expert to walk through your house and look for signs of damage. They can tell you how extensive the damage is and whether or not it’s safe to continue to live in the home. If you catch termites early, it won’t be as costly to repair, but the longer you wait, the more expensive (and dangerous) it will become.
Can You Sell a Home With Termite Damage?
If you are aware that your home has termite damage, you are legally obligated to disclose that information when selling the house. You are also required to disclose details about termite activity, including any termite treatments the house has undergone and any damage to the home (even if it’s been repaired) that was caused by termites.
If you don’t disclose this information, it could become a hazard to anyone buying a home with termite damage if the structure is at risk of collapsing.
Finding the Right Buyer
When it comes to selling a home with termite damage, the key is finding the right buyer. The average home buyer won’t want to take on a house with termite damage, since the repairs can be incredibly expensive and time-consuming.
However, some buyers who are either renovation experts or home flippers will buy a termite-damaged home if it’s the right price. Because termite repair is so expensive (the average treatment costs about $3,000, but it can cost far more depending on the extent of the damage) most buyers will try to negotiate a lower price for the house.
You also have the option of selling your house to a home investment company. These companies will tour your home and assess its condition, then they’ll make you a cash offer in as little as 24 hours. This is a great option if you’re looking to get your home off your hands as quickly as possible, because you don’t have to deal with listing it or negotiating prices.
Determine Which Option Is Right For You
The best option for you will depend on your unique situation, since every scenario is different. Talk to a termite control expert to get an estimate for how much it will cost to repair the termite damage in your home, then call your local real estate agent to discuss your options.
You may want to fix the damage yourself before selling to get the most money for your home, or you might sell it as is to a flipper or investment company at a lower price. Regardless of which route you take, with the right real estate agent, you can sell your home in no time.