Damages from leaks, burst pipes, moisture buildup, fires due to cooking accidents, electrical faults, faulty heating systems, and weather elements can leave your house in ruins. With the repair cost ranging from £1000 to £10,000 depending on the gravity of the damage, you can be in a stressful situation, but it doesn’t have to be so. You can sell the property as it is to real estate investment companies like the Property Buying Company and solve the problem. Unlike selling the conventional way, this method comes with various benefits:
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1. No contingencies
There are conditions a house must meet for the sale to go through. These conditions are included in a purchase agreement or contract to protect you and the buyerfrom losses. Some of those contingencies include
- Financing contingency
- Appraisal contingency
- Inspection contingency
- Home sale contingency
- Title contingency
While they protect the parties involved, these contingencies can derail negotiations and limit protection, and once satisfied, they are removed. In the case of a damaged house, it will be impossible to meet them without repairing the property. House-buying companies skip this as it isn’t a requirement.
2. No Need for Showings
Conventional sale calls for a house showing to showcase the property’s best features. The process requires preparation which can be stressful, on top of privacy concerns and pressure to impress. In the case of damaged property, you won’t have a house to show, especially if the damage is extensive. Selling such a property through a real estate investment company like the one mentioned is ideal because it won’t require a showing. Instead, the buyer will assess the damage to determine its value and buy it as it is.
3. Quick Sale
Damages impact the value of a house, and it depreciates further the more it stays in that condition. Meanwhile, it will pose a safety concern to you and any potential buyer. Seling it through house-buying companies is quick, which will offload the property while minimizing the damage. And since a damaged house probably has legal issues, selling it fastwill help you move on without navigating the complex legal process.
4. Fair cash offer
The real estate companies buying damaged houses have professionals who assess the property during the sale process. These professionals will determine the right value of your property and pay a fair price compared to selling it on the open market. As a result, you will get your money hassle-free and move on to settle elsewhere without getting ripped off by developers who want to take advantage of your predicament.
5. No Realtor Fees
Working with realtors may not be the best option, especially if you are selling a damaged property due to high cost, limited control, and limited expertise in selling such property. Selling the house through real estate investors like the Property Buying Company is the best option in such a case. You will not incur the realtor fees and will have a lot of control in the process. As a result, you will get enough from the damaged property to start over.
Accidents and disasters are unpredictable, but their damage can damage your house. In most cases, the repair cost may be high for you to do. The best option is selling the property through house-buying companies, which comes with the benefits you have read here.