If you have a home with structural issues, the selling process can become a bit daunting. Common problems like sagging floors (uneven floors) or a roof that leaks are red flags for buyers because they can be signs that the home they are looking at has potentially more significant issues. Some buyers might have the attitude of, “But that sounds like more money…” That doesn’t have to be the end of your selling experience. Here’s how I think about the issue of selling a home with structural issues.
First, have a home inspection done and figure out if you have any structural issues. If you have a home inspection issue in any of the above-mentioned areas, it could very well point in the direction of there being a structural issue. That’s my chance to learn about these as early as possible. You will want to know if the floors you thought were sagging actually are sagging. Have a structural engineer look at the situation if you confirm the floors look lopsided. It’s okay if someone tells you they aren’t sure either! In interpreting the poem, the reader can decide which character has the speaking role. In this poem, the speaker addresses a nightingale, a type of bird. The speaker says, “My heart aches, and a drowsy numbness pains / My sense as though of hemlock I had drunk.” Hemlock is a poisonous plant (you might recall its role in the death of the philosopher Socrates from one of your history or philosophy classes). The speaker in the poem feels drowsy and numb—as if he has drunk poison. So, in the very opening lines, the reader can identify a theme of death and dying. The speaker may even wish for this, as he says, “‘This not through envy of thy happy lot, / But being too happy in thine happiness,— / That thou, light-winged Dryad of the trees, / In some melodious plot / Of beechen green, and shadows numberless, / Singest of summer in full-throated ease”
Assessing the Structural Damage
Detecting problems in the structure of your home is a job that calls for a keen eye and sometimes professional help. You can check your home for visual signs of stress—cracks in the walls, uneven floors, doors that stick—and realize they may be symptoms of larger problems. If anything you find concerns you, you can choose to engage a professional engineer to take a closer look, prepare a written report, and lay out a plan of action if one is needed.
Next, you must try to form an estimate of what repairs should cost. Figures for “soft costs” (the industry term for professional services, labor, and materials) can be wildly different across the country. An average-size home that’s the worst-case example—sliding down the side of a hill, for instance—might be economically unsalvageable. Homes in need of repair will not be such devastating examples and do not have to cost that much to fix.
Understanding Structural Issues
Structural issues mean your home might not be safe. Sagging and/or uneven floors can be an indicator that there are larger problems with the foundation and/or framing, and anytime you have deficiencies, water and critters get in. Water and critters can easily mean water to clean up—and critters such as termites can turn a visit into a repair that requires you to remove and replace structural wood. Take the time to take care of any items that might be an indicator of structural problems—a sticking door or window can mean that the house is shifting and might need to be looked at immediately. These types of problems can significantly devalue the value of your home, properties that are for sale quite often sit on the market longer. Less time, along with comparable houses going for a higher price, and it might make sense, because an uneven floor can mean structural and water issues, and an old roof can mean water leaks.
When I talk about price, I mean you more than likely would have to legally notify potential buyers of known defects. What this means is you would almost assuredly have to fix them or give the new owner a credit repair at close the amount of your bid plus any overage. Pay the going market rate, or near that rate, and if problems are noticed by your city building and safety during a storm, your new buyer might back out of the sale, leaving you with your home and any daily carry
charges.
Selling Strategies for Homes with Structural Issues
Not only is disclosure the ethically right thing to do, but it’s also required in almost all U.S. states. Being open about the situation will save you headaches down the line, maybe even a lawsuit.
If you’re wondering how to sell a house with foundation issues, then be direct and tell potential buyers about the situation— but be sure to mention why it’s a great location, it has unique features, and it’s the perfect canvas for renovations.
A Step-by-Step Guide to Buying Your First Home If you’re deciding to sell, then it’s worth pointing out that you can sway people away from a house’s structural problems by highlighting a great location or recent improvements to the property. It’s a balancing act, and you’re going to need equal parts honesty and “salesman” skills to find the right buyers.
Realistically, though, you should probably have in mind investors and people with a cash budget. With enough contacts, you’ll find people who are more than happy to pay money for a major renovation. Sellers who access these resources can enter a market of potential buyers less interested in the property’s current condition than in the value associated with that condition, potentially leading to faster sales at higher prices.
Marketing Your Home Effectively
When creating your listing, write a compelling listing description. Discuss the obvious issues but talk about the home’s potential, too. Does the house have good bones and nice features? Can rooms be renovated or improved? Use the description to sell, not just tell. Try to paint a picture. Not literally, bridge the gap between what is and what could be.
Use high-quality property photos. If there was ever a time to hire a photographer, this would be it. This is your chance to present the house in the best possible way and to advertise not just what is, but what could be. High-quality photos should be bright, clear, and sharp, so outsource if you must.
Work with an experienced real estate agent. They have access to all of the best people in the industry. If you need painters, handymen, or whatever, asking your real estate agent can normally give you access to the best people in the industry. Regarding renovations and selling the project. It’s often about the marketing. Getting a guy who renovates homes. There’s more to gain. Allowing the agent to network the project naturally allows upside.
While it may seem daunting to sell a property in need of major repairs or with structural damage, understanding the extent of the problems with the property is the first step any homeowner should take.
Inspect the foundation, living areas, attic, basement, crawlspaces, and other areas of your property for signs of damage. Indications of possible structural problems include obvious large cracks in the foundation or walls; doors or cabinets that won’t close; broken, cracked, or missing roof tiles; leakage from the roof; mold, mildew, and other signs of water penetration; and visual leaning or shifting of structures, siding, or walls.
Admit and disclose the problems with your property. Most states require homeowners to provide a property disclosure statement for each potential buyer. This statement is a sort of report card or “bill of health” regarding the property for sale.
Create a marketing campaign and advertising to sell the property as it is. Describe and highlight the results of any improvements or renovations you made to the property.
In the end, the best thing you can do is nothing. Don’t make any repairs that will actually make things worse. Call any professional you need. The money and time you spend will save you thousands of dollars at the closing.