If a fire or natural disaster damaged your house, it might be time to sell it instead of spending money on repairs. However, trying to sell your damaged house in Tacoma, Washington, can be an uphill climb in a competitive market. Furthermore, once the word gets out that your house is damaged, it may be blacklisted by realtors or buyers who won’t even bother looking at the property.
You may be asking yourself what your house is worth now that it is damaged. Even if you could get some offers from buyers, what would be your starting asking price? Would you have to build repairs into your asking price, or are you home that someone will buy your house as-is? After all, even a damaged house retains some value despite the damage.
It takes more time, effort, and money to prepare a damaged house for the market than it does a home in sellable condition. As the owner, you must account for this when assessing your home’s value. Unless you have thousands of dollars in surplus cash, you will likely lose money in repairs and other costs that you don’t currently have. When trying to sell your damaged house, consider these factors.
Most damaged homes have some type of structural damage that compromises the building’s integrity. There may be extensive damage to the walls, roof, foundation, or a key system such as electrical, HVAC, or plumbing. It costs thousands of dollars to repairs a damaged home at this level. The cost of repairs typically includes building supplies and labor, followed by inspections and appraisals.
Insurance companies can also total houses like they total cars. If the estimated cost of repairing or replacing the damaged home exceeds the home’s actual cash value, the insurance company may declare the home to be a total loss. This means all repairs expenses are out of pocket. If you decide not to repair the house, your home’s value goes down significantly.
All house damage is bad damage. However, some types of damage are more extensive than others. For instance, smoke from a fire can reach nearly every part of the house, damage numerous components due to smokey smell and smoke/ash stains. You could spend hundreds of dollars cleaning your house in addition to repairs from fire damage.
Water damage may be isolated to certain areas such as a basement or first floor. However, water damage can cause structural problems, an unsafe electrical system, or broken plumbing. These types of problems often require extensive repairs. If you choose not to repair the house, you will have to account for these problems when assessing the property value.
Your house value will ultimately depend on the real estate market in your area – more specifically – in your neighborhood. If you sell the house in a strong market, you may be able to sell it for more than usual, simply because home prices are up across the board.
However, there are no guarantees, as you still must figure in the house’s damage. You may be lucky to get anything for the house in a weak market. If too many houses are for sale in the immediate area, buyers are not likely to give your house a look at all.
If you get a call from an out-of-town investor, they may make a quick offer over the phone without even looking at the property. They may also ask you to commit to selling them by asking you to sign a contract. However, these investors may make a lower offer on the house after they’ve seen the property, putting you in an awkward situation.
Tacoma Cash Offer investors are local house buyers. We understand the local market, know the people in the area, and understand the challenges of selling your home. We never make an offer before looking at the property. And, once we make an offer, we stick with it. You work with honest and straightforward investors who make it as easy as possible for you to get out from under your mortgage or sell your house as-is fast.
Tacoma Cash Offer takes the burden of selling your house the traditional way. If you want to avoid needless repairs, listing & showing costs, and closing costs, then follow our three-step process for a fast cash offer.
We are local home buyers that live in the Tacoma, Washington area. Simply call us, and we can schedule a quick visit to your property. Tell us the details of your property and let us assess your house.
If we decide to buy your property, we’ll make a cash offer. Although we do not pay 100 percent of your home’s market value or your asking price, we will make you a fair offer. Plus, you receive cash for your home without all the hassle.
If you accept our offer, then we schedule a closing date. You can have cash in your hands in as little as seven days after closing. Plus, we pay all the closing costs! Selling your house for cash has never been easier.
If you need to sell your damaged house fast, contact Tacoma Cash Offer today. We pay 100 percent cash, close in as little as seven days, and help you avoid unnecessary fees. Call us at (253) 300-2897 to get a fast cash offer. We buy houses as-is in Tacoma, Washington.