Selling Your Tennessee House That Needs Repairs
If you want to sell your house in Tennessee but it needs repairs, you need to know your options. First, it’s important to examine what repairs your house needs and how much time and money it’s going to take. Before you break out the tools (or more likely the phone to call a contractor) let’s take a look at whether or not it will be worth it to you to make those repairs or if you’d be better off selling your house As-Is
Major Repairs: Why They’ll Slow The Process Of Selling Your Tennessee Home
Most buyers want a house that they can move in and get settled right away. They are not usually looking to purchase a house with a bunch of headaches. Few people are looking to buy a house that needs extensive repairs. Trying to sell a home that needs extensive repairs can greatly reduce the amount of interested buyers.
Repairing the home will absolutely make it more marketable, with a larger buyer pool. However, it may take some time to finish the repairs and then list it on the market to sell.
Common House Issues That Make It Harder To Sell
Old Or Damaged Windows
Visible damage to your windows can turn buyers off before they even enter the property. Any broken or damaged windows will need to be replaced. Another issue can be a bad or rotted seal that allows moisture to come in around the edges of the window. This can cause rot and other water damage. In addition, a house with old windows can also scare away buyers as they are much less energy efficient and can cause high energy bills. New windows for an entire house can be quite costly.
Drywall Damage: Cracks & Holes
Small cracks or holes in your drywall may not be a deal breaker for all buyers, however, it will most likely negatively affect your selling price. You can call a contractor but if you are handy, you can usually patch them up yourself. The size and extent of the damage to your drywall will determine the path you take.
Fracture-line cracks or tiny holes are easy to fill in. If you have a very large hole in your drywall then you may need to install a whole new sheet. Drywall issues should be repaired or at the very least, disclosed to buyers rather than covered up when you go to sell your house.
Roof damage can often go unnoticed and cause even greater problems. The average roof lifespan varies depending the type of roof and design. Most houses made of fiber cement shingles can last around 25 years. However, storms or adverse weather can quickly decrease that lifetime. Buyers typically don’t want to deal with a leaking roof or missing shingles. Hire a roofing company to do the repairs or replace the entire roof if needed. This is not a job for an untrained professional to tackle on their own.
Any large cracks in the drywall are a good indication that you have some foundation issues. It’s best to call a professional in this case to make repairs as needed. Foundation repair can be quite expensive and are a major turnoff to most buyers. You are also legally required to disclose any foundation issues you are aware of when selling your home. Failure to make the repairs can cause further expensive damages to your home.
Rotting or Missing Siding
Rotting or damaged siding issues are one of the first things a buyer will see and it’s not a good first impression of a home. If you have rotting siding, it’s even more troublesome as this could mean that there are other issues with the wood of of your house. Are there structural problems that cannot be seen from the outside? Why is the wood rotting? Is there termites or water damage causing the rot? Any rotting siding needs to be replaced and the source of the rot needs to be determined.
Water damage can occur for many different reasons especially in aging homes: roof or plumbing issues, malfunctioning appliances (e.g. water heaters, HVAC, heating systems, washing machines, etc.), weather related catastrophes or flooding.
Repair costs from water damage can become quite expensive. According to a recent study published by Insurance Business America, in 2017, the average claim cost was about $10,000.
Selling Your House As-Is On The Open Market
Almost all home transactions will involve an inspection. Inspections are commonplace during the home selling process. Inspectors are paid to come to the house and uncover issues. It’s best to be upfront with your buyers from the start, rather than letting an inspector find issues.
selling your house in Tennessee will result in a law suit and your liability for all repairs when eventually discovered by the buyer.Any known repairs that are needed must be disclosed in writing to a buyer. Making quick cosmetic repairs without proper remediation with the intent of concealing the needed repairs for the purpose of
Based on the results of the inspection, buyers will often request a price reduction to account for the needed repairs. They could also negotiate for the repairs to be made prior to closing on the house. They may even back out of the deal entirely. Some of the above repairs are quite extensive. As the seller, you’ll most likely need to spend money on repairs in order to get your house sold or you’ll need to lower your asking price.
We Buy Houses That Need Repairs in Chattanooga, Tennessee
New Horizon Home Buyers is a local home buying company in Chattanooga, TN. We buy houses all over Tennessee 100% As-Is in Cash. We can buy your home (even with the extensive repairs needed) and handle all the hard work so you don’t have to. If you are dealing with damage in your home and want to sell without having to make any repairs, get your No Obligation All Cash Offer today.
Our selling process is 100% free. Even if you are unsure of what you want to do, I encourage you to reach out for a free offer on your house. You have nothing to lose.
“Erik and Jessie were really easy to work with. They were fair and honest negotiating the deal and made the whole process simple! Highly recommend New Horizon!”
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