How can I sell a house in need of structural repair?

Asked by Blooskeye, Atlantic City, NJ Tue Jun 15, 2010

Our very modest home is on the end of an attached row of homes. The exposed stucco'd wall is cracking and the bricks behind it are crumbling. We cannot afford the repairs and would like to sell it "as is". It has been suggested that we try to sell to a contractor since they would how to repair the damage and do it cheaply. Does anyone know how we could reach the "contractor market" in our area? Does anyone have other ideas? Thank you for any suggestions, recommendations or assistance.

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9
Gerri levent…, Agent, Upper Monclair, NJ
Tue Jan 22, 2013
A good way to handle all types of repairs in an older home is with a seller's disclosure form. Let's face it not all homes are in wonderful condition and more homes on the market need some loving than not. A seller's disclosure is a disclosure form which tells a potential buyer what are the defects in your home. The form is disclosed prior to the buyers making any kind of a bid or offer. By properly utilizing the form and also I recommend getting an estimate or 2 on the repairs you are saying to the buyer, I have an imperfect home , I am selling at a discount because you will find the following repairs. Now when the inspection comes in , the buyer understandss that you have already discounted your home because of the problems listed in the disclosure and you are not going to negotiate the issues twice. Best of luck
1 vote
Dave Griswol…, Agent, Bridgewater, NJ
Tue Jun 15, 2010
Hi Bloo, We agree with kimberly it's hard to sell on your own without experience and knowledge in addition to the websites and advertising a Realtor can do for you. They will marketing it to all buyers as well as contractors.

All the Very Best

Dave & Lisa
Web Reference:  http://www.urhomerealty.net
1 vote
Manu Kapoor, Agent, New York, NY
Wed Jun 16, 2010
Yes a house could be sold to buyers as-is basis. Investors pick up such properties all day lond, re-do it and re sell it.
This is their job.
0 votes
Carol Ruffu, Agent, Northfield, NJ
Tue Jun 15, 2010
Dear Blooskeye,
Just because stucco & bricks are in disrepair doesn't necessarily mean that the home is structuraly unsafe. An engineer would be able to evaluate the situation. I live in Atlantic City and work with several contractors who buy properties "AS IS" in need of repairs. I would be more than happy to meet with you to evaluate your actual situation. Please contact me directly at 609-457-7397.
Carol
0 votes
Don Tepper, Agent, Burke, VA
Tue Jun 15, 2010
Your best bet, as the others here say, is to contact a Realtor. You'd have to discount the price of your home to reflect the needed repairs, but still that's probably the best way to do it and get the most for your house.

Another possibility is to sell to an investor--one of those with the "We Buy Houses" signs. You'll receive less for your home--probably around 40% less--but you'll be selling it in "as is" condition and you'll be selling it quickly--in a matter of weeks rather than, perhaps, months.

Hope that helps.
0 votes
Laura Gianno…, Agent, Manahawkin, NJ
Tue Jun 15, 2010
Many contractors will give you a free estimate for repairs. I would suggest doing that and talking to a REALTOR about how to price the home properly taking into account the repair cost and getting your home effective marketing.

Laura Giannotta
Keller Williams Realty - Atlantic Shore
609-384-6121
0 votes
Gina, , Turnersville, NJ
Tue Jun 15, 2010
Hello:

Definitely contact an agent to get the property listed at the right price for the homes condition. There are many investors and contractors that purchase homes and repair them.

Good Luck to you!
Gina Fagnani
0 votes
Deborah Madey, Agent, Brick, NJ
Tue Jun 15, 2010
Yes, you can sell a property in need of structural repair. You must price it accordingly. The Realtor who represents you can provide a description that will reach to contractos, contact specific agents who often work with contractors, and make direct outreach to contractors.
0 votes
Kimberly "KI…, Agent, Little Egg Harbor, NJ
Tue Jun 15, 2010
List with an agent, get it on MLS's as well as tons of websites, Many agents have been working with contractors for years! Savvy shoppers are shopping online!
0 votes
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