When it comes to selling your home, every seller wants to maximize their sale price and minimize their pre-sale home improvement projects. Extensive home repairs can make it more difficult to attract a buyer, even if your home is positioned as a fixer-upper.
Homes with foundation issues, a leaky roof, plumbing problems, pest infestations, or mold all require a good amount of work (not to mention a hefty investment of cash!) to fix. And furthermore, mortgage loan companies may not close on a house with foundation problems. That means you may be responsible for replacing the damaged areas.
So, can you sell a house with foundation issues? The short answer: Yes! No matter what condition your home or the foundation is in, you have options as a seller. Here’s how you can sell a home with foundation issues or other major repair needs.
Selling a Home with Foundation Problems
If your home has been diagnosed with a faulty foundation, there could be a wide variety of reasons why. Foundation issues can be minor, but can get pretty ugly. More common in older homes, the top causes of foundation issues include:
- Soil beneath your home’s foundation has dried out and shrunk
- Soil beneath your home’s foundation has absorbed too much water and swelled
- Poor foundation construction in the first place
- Soil erosion because of improper or insufficient water drainage
- Natural sinkhole formation
Regardless of the cause, the cost of fixing a damaged foundation can be significant. The national average cost to fix this issue is about $4,000, and could cost up to $50,000, depending on the condition.
Can I Sell a House with Foundation Issues?
If your home does have foundation issues (issues you’re already aware of, or issues brought to light during a home inspection), you have a few options before you prepare to sell your home.
Option 1: Fix the Foundation
If you choose to fix the foundation prior to selling your home, you’ll need to hire a structural engineer to examine the situation and provide you an estimate. Depending on your quote, you can choose to move forward with that particular estimate or get a second opinion.
Depending on the extent of the damage, this could be a lengthy process. Many companies specializing in foundation repair may be booking months out (especially during peak home sale seasons!), and this won’t include the time it takes to complete the restoration. If you’re looking to sell your home within a limited time frame, it may be best to choose a different option.
Option 2: Sell Your Home As-Is
If you’re not interested in spending the money, taking the time, or dealing with the stress of repairing the foundation before selling, you can sell the house as is. Essentially, this option means that the buyer will need to take care of the issue instead.
This can expedite your timeline, and save you the hassle of coordinating repairs — but severe foundation problems have the potential to limit your options when it comes to buyers. Many times, the buyer will be unable to secure an FHA, VA, or USDA loan due to the strict rules and requirements regarding the structural integrity of the home.
That being said, there still might be buyers who are willing to buy ugly houses with ugly foundation issues, and then making the repairs. However, they’ll have to come in with a cash offer, which is likely to be much lower than the initial asking price. If you’re unable to gain the interest of a cash buyer, you’ll have to choose a different option.
Option 3: Sell to HouseMax
At HouseMax, our process is simple and straightforward: Our team does the work, so you don’t have to. Unlike the traditional sales and moving process, you won’t have to worry about endless inspections, or the condition of your foundation.
Fortunately, you don’t have to make any repairs yourself. We will buy your home as-is for cash, so any cleaning or repairs we note are not necessary on your part. As a local home buying company, we give our highest and best offer the first time.
Sounds easy, right? That’s because it is. The HouseMax system was created with the sellers best interest in mind. Our team is dedicated to eliminating the seller’s stress and providing a seamless experience when selling your home. We buy ugly houses (and that includes houses with ugly foundation issues!) every day, so we understand everything that goes into selling a home — and our process keeps things fast, easy, and straightforward.
No more worrying about your selling timeline or fixing your home’s foundation. You’re 30 days away from receiving cash for your home!
HouseMax is the most reviewed home buyer in the Kansas City area that offers cash for homes. Our team takes the stress out of selling your property. No matter what extensive improvements your home needs, we buy ugly houses in KC no matter the condition! Contact the HouseMax team to get started.
