Owning a crumbling or problem plagued property anywhere in the San Francisco Bay area can cause you to feel trapped by an obligation that is not paying any dividends and is only draining cash. Perhaps you assume there are no interested buyers for the property, or maybe you intend to eventually make needed repairs so that the home is habitable once again.
Of course, there will be a time of reckoning when you need to determine whether the resources you are devoting to hanging onto the house are really worthwhile, particularly if it is racking up costly code violations. Considering ongoing tax obligations, repair needs, utility costs, and more, holding onto a vacant property is often more expensive than people realize. If you are in this predicament, you may be interested in an alternative solution.
Locating Your Ideal Home Buyer
Unloading this type of property if you need to sell my house fast Bay Area is the perfect way to alleviate the continued stress and financial burdens it brings. However, many buyers will be afraid to assume the challenges presented by a house already known to have Los Angeles, Bay Area, or Southern California code violations. It is necessary to identify a buyer willing to pay a purchase price that is fair and who really is up to the task of dealing with a property of this sort.
As such, you may need to do business with a real estate investor capable of spotting potential in your house and who has the resources necessary to make needed repairs in a more cost effective manner than a typical buyer could. Engaging in this kind of transaction will facilitate a quick sale that prevents you from having to spend additional money on a property you no longer wish to keep.
Keep Expectations Realistic
If you plan to seek a buyer for a damaged home that has code violations, it is important to remember that you are not likely to command a price similar to that of other homes listed in the area. Improvements and repairs are required, and someone will have to bear that cost. By aligning with a professional home buying company who purchases homes like yours regularly, you will be able to sell to a party with the ability to do that work more cheaply than a traditional buyer, resulting in a better offer.
Remember that doing a transaction in this way also eliminates the need to pay real estate commissions, which regularly run upwards of 6% of the overall sales price. By avoiding agent commissions, you can keep more of those sales proceeds where they belong.
Candor is Key
Failing to disclose everything about the condition of your property is critical, because failing to do so can result in legal trouble later on. Be completely candid about your knowledge of the property, even if damages are of a hidden nature that might not be noticed by a purchaser. If you keep something secret, and it emerges later on, you may be on the hook for repair work, or you may even be dragged into court. You have a legal and ethical duty to disclose defects related to your property. Perhaps it is best to develop a checklist that covers every facet of the house so that you can rest assured that nothing has been overlooked in terms of your disclosures.
Spruce Things Up
Though there may be a part of your property that requires substantial repair work beyond your ability or willingness to tackle, it is still a good idea to make other parts of the property look the best they can. Try to draw attention to elements of the property that are especially appealing, and you may even want to do a bit of staging to increase appeal.
Your objective is to illustrate that the property has real potential and that once repairs are made, it can be a point of pride for any purchaser. It often pays to devote some energy to the yard space as well, because curb appeal can make or break a prospective buyer’s interest in continuing to tour a property. A house that looks great on the outside can make some buyers more willing to invest in repairs or improvements elsewhere on the property.
Insist on a Fair Deal
Your run-down property may not be the best looking house in the neighborhood, but that is not to say that you should accept a rock-bottom price. You simply need to find a buyer who is well suited to address the issues the property has and who can appreciate the potential in it in any condition and even as-is.
A good cash home buyer will have the skills and ability to make key repairs without spending a great deal of money, and that will in turn make the transaction a win/win for all sides. If selling a house in Southern California with code violations is a priority of yours, make sure to investigate all of the possibilities that exist. The fact is that there are always buyers seeking properties such as yours, and you may be surprised by what can happen.
Perhaps you feel that finding a buyer for your Riverside house with code violations is an uphill battle, but the fact is that it is very doable. The key is to understand how best to position your property on the market, to know your target buyers, and to keep realistic expectations about how to make your transaction happen. At Brothers Buy Homes, our team is laser focused on helping homeowners in the Bay Area, LA, Oakland and San Francisco area sell homes that have known code violations and a host of other issues. If your property requires substantial repairs or improvements, and you are interested in selling, we want to hear from you!