Do you own a run-down, damaged, or unlivable house that you want to sell? Learn more about how to sell your house with code violations in Lincoln, Nebraska!
How To Sell Your House With Code Violations In Lincoln Nebraska
If you own a run-down or damaged property in Lincoln Nebraska, you can feel stuck or obligated to a property that isn’t doing anything for you. Maybe you think nobody would want to buy the property or that one day you will finally get all the repairs done to make the house livable. However, there comes a point when you have to decide if the money you are spending on your house with code violations is worth it.
You may have even received not so very nice communications from the City of Lincoln Building and Safety department “tagging” your property as a nuisance or worse.
Between the repairs, taxes, vacancy costs, vacant house insurance expense, and other routine maintenance, owning an unoccupied home can be very expensive. If this sounds like your situation, it’s important to consider a different option for the property. And, as they say, a vacant house does NOT get better with age!
Find The Right Buyer
Selling the house will free you from the property and the stress that comes along with it. But not every buyer is up for the challenge of repairing your house with code violations in Lincoln. You will need to find the right buyer who will pay you a fair price and who is able to purchase the house with cash or their own lines of credit.
Typically, most lenders will not lend money on houses with code violations, depending on what those code violations are.
This often means working with a home buyer who will see the potential in the property, have the ability to fix it up at a more economical price than your average buyer would be able to, and have the cash to buy it.
By selling in this manner, you will be able to sell quickly, without sinking any more money into the property than you have to.
Have Realistic Expectations
When selling a property with code violations, or that needs lots of repairs, you have to realize that it is not going to bring the same price as the houses you typically see for sale on the MLS. There is work that needs to be done, and someone has to foot the bill.
Once again, by working with an experienced professional buyer, you will be able to sell to someone who is able to fix it up at a more economical price, giving you the potential to receive a higher offer.
Keep in mind that when you work with a direct buyer, you won’t be spending money on commissions either. Commissions run 5 to 7% of the sale price when working with a Lincoln Nebraska real estate agent. Without commissions, agents fees, transaction and closing costs, and any additional repairs or maintenance, you will be able to keep thousands of dollars in your pocket.
Not disclosing everything you know about the property can get you in some hot water down the road if something should go wrong. You need to be upfront about all you know in regards to the property, even if the damages cannot be seen.
If you fail to disclose something that becomes a problem in the future, you could find yourself paying for even more repairs or having to deal with lawsuits or court battles. It is 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, ensuring you have reviewed the house from top to bottom.
A local title company should be able to provide a Sellers Disclosure Statement that you can use for this also.
Make It Look As Nice As Possible
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 appealing as possible. Highlight the positive features of the property and use items to stage the house if necessary.
The goal is to show people what the house can be once the repairs are made. Show them that there is more to the property than just the needed repairs. You can also spend some time on the yard. Great curb appeal will have a positive effect on your potential buyer’s first impression, making them more likely to make an offer despite the needed repairs.
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 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 house with code violations in Lincoln Nebraska, take a look at all of the options available to you.
Selling your house with code violations in Lincoln may seem almost impossible, but it can 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.
The Sierra Group Pro Home Buyers specializes in helping Lincoln Nebraska homeowners sell their properties with code violations or other problems. If you own a house in need of major repairs, we would love to talk to you!
We can help you sell your house with code violations in Lincoln! Contact us today for more information! (402)-291-5005
7 Days Cash by The Sierra Group, LLC has been buying houses direct from sellers for more than 20 years. Unlike many companies that have popped up in recent years, we are a “real” home buying company, not “wholesalers.” We have the funds available to Buy your house, As Is, for CASH, on YOUR date of choice.
We are a Veteran owned company with an A+ rating from the Better Business Bureau. We invite you to check us out, and learn why hundreds of other home sellers have made the choice to trust the sale of a house to 7 Days Cash by The Sierra Group.