If your home is older or outdated, you may find it challenging to try to sell your property. Many older houses aren’t “up to code,” which means they don’t meet city, county, or state requirements. If you are currently in this situation, you may be worried that you’ll be stuck with your home forever – or at least until you can afford to make repairs or renovations for the house to meet code.
You Can Sell a Home with Code Violations
One thing you need to understand is that you are allowed to sell a home with code violations. You don’t have to be stuck with a house that isn’t up to date. However, there are additional challenges, the main one being able to find a buyer who is interested in such a home.
Buyers may also have difficulty getting financing for a home with code violations. Since sellers are required to notify buyers of any violations they are aware of, the buyer’s lender may refuse to finance property that isn’t up to code. Insurance for the home can also be more expensive, which may make buyers hesitant to purchase. You’ll need to think about your options for selling.
Fix the Violations
One option is to fix the violations before you sell. If the violations are minor, it might be worth the time and cost to take care of them. Some lenders will require it before they will approve financing. As long as it is something simple like moving the position of a smoke alarm or installing handrails along steps, you may find this to be the best option to get your home sold. For bigger violations, like outdated electrical or plumbing, you may not want to put all that money into the renovations.
Reduce the Price
Because the buyer will have more work to do if they want to fix the violations, you may need to give them an incentive to purchase it. To get the house sold, you could offer a seller’s credit, which means a lower price for the buyer. Most buyers want a home that is already renovated, which may make it difficult to find someone interested in your property.
Sell As-Is to a Cash Buyer
While this option is technically similar to the prior option, there is a significant difference. When you sell to a cash buyer, you don’t waste time listing the property for traditional buyers. A cash buyer will often take the property before it is even on the market.
Since cash buyers are “professional buyers,” they aren’t intimidated by code violations and other issues with a property. Quick Home Offers buys properties as-is and pays cash value for homes based on their current condition.If you have a home that doesn’t meet code requirements, contact Quick Home Offers to see how we can help you. We’ll provide a fair cash offer, allowing you to move on with your life without the challenges of selling a house that isn’t up to code.