Putting your best foot forward is always the best plan when you’re trying to sell your house. Since buyers will likely spend several hundred thousand dollars on their purchase, it’s essential to make the presentation spectacular, even if the home isn’t perfect. However, some problems need more than the smell of fresh-baked cookies and a fresh coat of paint to attract buyers.
If your property suffers from any of the following 6 problems, you might need to consider an alternative option to the MLS.
Bad location
The location of your house is one of the things you can’t change (at least in most cases). Whether zoning laws have shifted, or the home was intentionally built-in a less-than-desirable space, the neighborhood can significantly impact your ability to sell your home. You can do things to make the property more appealing, like adding bushes, tall fences, or water features to help reduce noise and visual traffic. However, you’ll likely need to update the property to help buyers overlook the noisy traffic.
Foundation issues
Foundation issues are a significant safety concern. Foundation repairs can easily cost thousands of dollars. Signs your home may have foundation issues include cracks in the walls, visible cracks in the foundation, settling of home, sticky doors, and sagging or uneven floors. If an inspector determines that your house has significant damage, a bank may not approve a buyer’s loan. Taking care of foundation issues as soon as you notice them will help you save money and ensure your home remains sellable. If the damage is already done, you can expect to spend an average of $4,500 on repairs.
Illegal additions
An illegal addition is any structure or change to a legal structure that was not permitted when required. For example, most homeowners may not know that they need some type of permit for sheds more than 120 square feet. In fact, Utah requires permits for nearly all work except for painting, flooring, or other cosmetic work. If you converted your garage to a room without a permit or otherwise added onto your property without the required permits, you could face serious problems when it comes time to sell. If you don’t disclose that you conducted unpermitted work and a problem occurs later, the new owner could sue. If you plan to sell, you could retroactively obtain a permit, return the property to the former condition, or try to sell your home as-is (while disclosing all non-permitted work).
Pet smells
Cat and dog urine contain bacteria that emit an ammonia scent when broken down. Homeowners with many pets who’ve used the bathroom in the home may find that the smell is difficult to eradicate. Because cats, in particular, like to mark their territory with urine, the odors can be highly problematic. The scent can soak into carpet and flooring. That means you may need to replace the flooring, and in some cases, walls to eliminate the odors. The easiest way to prevent these problems is to ensure any messes are cleaned up quickly. Regular carpet cleanings can also help.
Rodent/Bug infestations
If your home has a current rodent or bug infestation, you may not be able to sell the home. This is particularly true if the home has termites and/or termite damage. Termites are a dangerous problem for a house because they can do a lot of damage before homeowners even know they’re there. Signs that could indicate the presence of termites include pin-sized holes in the wall, hollow sounds when you tap on a wall, peeling paint, crumbling baseboards or windowsills, and mud tubes on the outside of the house. Termite damage can be expensive to repair if the bugs get to structural beams or if the damage occurred over several years.
Outdated electrical issues
An outdated electrical system is a common problem in older homes. Many homes, especially in the Salt Lake Valley, are more than 60 years old, which means, even if they have been updated, it may have been some time ago. Electric problems can become a safety hazard and make your home unattractive to buyers. In extreme cases, you may not be able to sell your home on the MLS without addressing problems with the electric system. On average, the cost to rewire an entire house is around $15,000, so it can be an expensive investment.
Many of these problems require expensive repairs or updates. If you’re unable to make the repairs and want to sell your home, consider working with Brick. We buy houses in any condition. You can skip the time-consuming updates and move on to a less stressful living environment. Call us today or fill out our inquiry form to find out how you can get a quick cash offer on your house.
Investing in real estate is (typically) a long-term decision. Purchasing a multi-family residential property is a commitment. Fortunately, real estate tends to perform better as a long-term investment, so it’s a good fit for investors who want a reliable way to let their investments grow over time.
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If you need to sell your home and have to decide how to sell it, you’re likely considering a for-sale-by-owner (FSBO). An FSBO simply means that the owner takes responsibility for pricing the house, listing the home, and choosing a buyer.
If you’re in a hurry to leave the property behind, working with a cash offer is the fastest way to offload your home or investment property.
It’s easy for sellers to lose sight of their rights when they focus on ensuring their home is attractive to buyers. There are multiple steps in the sales price that also favor the buyer, so it might feel like the seller is at the whims of the market.
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