So, you own a run-down, damaged, or unlivable house that you want to sell? Don’t Fret. Here’s how to sell your house with code violations in Baltimore.
When you own a beat up or damaged property in Baltimore, you can feel like you have no options, almost obligated to a property that is just dragging you down. Maybe you think nobody would want to buy this property or that one day you will finally get around to making all the repairs needed to make the house live-able again. Most find that there comes a point when you have to decide if the money you are spending on your house with code violations is even worth it. The repairs, the taxes, the vacancy costs, and other routine maintenance, let’s face it owning an unoccupied home can be very expensive. If this sounds like the situation your in, it’s important to consider that there are different option for the property than just letting it get worse.
# 1 – Find The Right Buyer
You’ve decided selling the house will free you from the property and the peace of mind that comes along with it. Not every buyer will be up for the challenge of repairing your Baltimore house with code violations. Finding the right buyer who will pay you a fair price and who is up for the challenge is key. This often means working with an investor who will sees the potential in the property and has the ability to fix it up at a price that your average buyer wouldn’t be able to. Selling in this manner will allow you to sell quickly without putting any more money into the property than you have to.
# 2 – Set Your Expectations
Remember, when selling a damaged property you have to understand that it is not going to fetch the same prices as the pretty houses you see for sale on the MLS. There is work that needs to be done, and someone has to pay the associated costs. However, by working with an experienced professional buyer, you will be able to sell to someone who is able to fix it up at a reasonable price, making it possible for you to receive a higher offer. The benefit is that when you work with a direct buyer, you won’t have to spend money on commissions either. Commissions typically run about 6% of the sale price when working with a Baltimore real estate agent. Without commissions or agents fees, you will be able to keep thousands of dollars in your pocket.
# 3 – Disclose Everything
Not doing so can get you in some serious trouble down the road if something should go wrong. Be upfront about all you know in regards to the property, even the damages that cannot be seen. Failing to disclose something that becomes a problem in the future that you were aware of and you could find yourself paying for even more repairs or having to deal with lawsuits or court battles. It’s never ok to hide damages or problems with a property, either ethically or legally. If necessary, create a checklist so you can easily identify different problems with the property and provide a honest situation to potential buyers, ensuring you have reviewed the house from top to bottom and disclosed everything you are aware of.
# 4 – Make It Look Nice
Even if there is a portion of the house that needs major repairs that you aren’t prepared to deal with, you can still make the rest of the house look as nice as possible, try to dress it up even. Highlight the positive features of the property and use items to stage the house if you can. The goal is to show people what the house truly can be once the repairs are made. Show them that there is more to property than just the needed repairs. You can also spend some time on the exterior, like the yard or fence. Curb appeal will always have an effect on the potential buyer’s first impression, thus making them more likely to make an offer despite the needed repairs.
# 5 – Don’t Sell Yourself Short
Just because the house is old. ugly, or run-down doesn’t mean you have to give it away. The right buyer will see the beauty and potential of your house. They will be able to fix it up at an affordable price, creating a winning situation for all parties involved. If you want to sell your Baltimore house with code violations, take a look at all of the options available. You might be surprised at how many people are looking for a property just like yours!
Selling your Baltimore house with code violations might seem impossible, but it can, in fact, be done. Knowing how to market the property, who to market it to, and what to expect will make the transaction a quick and easy one. KDD Development 443-585-0922 specializes in helping Baltimore homeowners sell their properties with code violations or many other problems. If you own a house in need of major repairs, we would love to talk to you!