A prospective buyer may fall in love with your home because of its many architectural features such as its decorative crown molding or its stone or wood exterior. However, all that charm won’t be able to save you from a building code violation. Luckily, this doesn’t spell doom for selling your home as options are always available.
There are 3 options for you to consider when selling a home with code violations. These include fixing the issue so you can proceed, lowering your asking price, or selling the home in “as-is” condition:
- Fixing the issue so you can proceed with the sale – Taking this route will largely depend on the nature and extent of the problem along with the present state of the housing market in your area. The housing market can also influence the number of renovations that need to be made as well. Remember, if the prospective buyer has several other homes to choose from, the odds may be against you.
- Lowering your asking price – if you’re not financially or physically able to make those repairs, you can offer the buyer a credit at closing or lower your initial asking price. This is often a viable option when the violations do not constitute a health or safety threat to the buyer and their family. However, you must have the home inspected and must be forthcoming and honest about these issues with the buyer. You should count on reducing your asking price if the buyer is willing to handle the violations later.
- Selling the home in “as-is” condition – as a homeowner, your top priority is getting the highest price possible when selling your property. In many instances, this is best achieved by working with a real estate agent or broker and listing it on the market. But not every seller has the available financial reserves or time to fix costly code violations that may get in the way of the traditional home selling method. This is where selling the home in as-is condition before listing it becomes the best option for the seller.
Homeinc has helped innumerable people get the best deals on their homes and can be of assistance. If you’d like to learn more about your options when selling a home with code violations or would be interested in hearing about our 3-step process for closing within 5 to 7 days, call or text Homeinc today at (888) 850-2636 and schedule a FREE property analysis.