Kansas City Old Homes – Your Guide to Selling
Best Offer KC is a company That buys houses fast for cash in Kansas City MO
Older homes are known for their charm and character, as well as often being situated in settled, mature neighborhoods. Unfortunately, older homes also come with a host of maintenance problems that have accrued over the years. As a result, it’s not uncommon for sellers to find that it takes longer than expected to sell older houses. Furthermore, if the property has any maintenance problems, buyers will often offer to pay less than market rates for the home.
Homeowners looking to sell on older property quickly, and without the need to make repairs, may find that selling their homes to a company specializing in buying homes for cash might be just the solution they need.
“We buy houses” companies take the hard work out of selling an older home. When owners opt to sell their homes to such a company, they do not have to worry about how long their homes will sit on the market. Additionally, there is no need to make expensive repairs to the home or to turn over a percentage of the sale price, as a commission, to the real estate agents handling the sale.
The company purchasing the home will usually make a cash offer. Since it is a cash deal, there is no need to wait for a property inspection or appraisal to be performed, which can speed up the closing process significantly. As a result, sellers can have cash in hand quickly, allowing them to move on to their next venture.
Selling an Older Home
When selling a home in poor shape in Kansas City, MO, there are a few things to take into consideration. While older properties typically have a tremendous amount of charm, they are also prone to having more issues. The simple fact of the matter is that over time, houses typically develop problems. Prior to making the decision to sell on the open market, either by listing it with a real estate agent or by trying to sell it on your own “by owner”, you should be aware of what to expect when selling an older home.
Making the decision to list a home for sale means that you must detail all of the home’s current issues. Even if you list the home as is, you are not relieved of the legal obligation to disclose the condition of the home. While you certainly cannot disclose something you do not know about the home, you are legally required to disclose anything you do know. Below are some examples of condition problems that you must legally disclose to your real estate agent and all prospective home buyers:
• Structural defects, such as cracks in the foundation
• Termite damage
• Leaking roof
• Major electrical and plumbing issues
When there are such issues with an older home, you could find yourself presented with several problems when trying to sell the home on the open market. For instance, once such problems are disclosed, buyers often perceive the property in a negative manner. While some buyers may be attracted to the idea of a fixer-upper, that’s not true of everyone, which means you are looking at a smaller pool of buyers. That translates to a longer time on the market for your home to sell.
Mold or Termite Damage
It’s not uncommon for older homes to have termite infestations. This is particularly true of older homes that may not be in the best condition. Eventually, termites cause wood to weaken and collapse. This can also cause cracks to develop in load-bearing walls, further weakening even stone and brick exterior walls. While termite treatments are available, they are costly. Hiring a professional exterminator can easily cost several hundred dollars, if not more, but that isn’t the end of the story. Once it is determined that your home has termites, not only will you need them exterminated, but you will also need to address the damage they have caused. Depending on the severity of the damage, you could be looking at thousands of dollars in repairs to get your home ready to sell.
This is certainly not something you can get around when selling an older home or distressed Kansas City houses. As previously mentioned, you are legally required to disclose any problems you know about when selling a home, including termite infestations. If you try to withhold this information and the buyer learns about it later, they could potentially sue you for withholding the information.
Along with disclosing the presence of termites in your home, you must also provide documentation regarding any treatments you have employed to resolve the issue. Depending on the type of lending the buyer is using to purchase the home, the sales contract may be contingent upon you demonstrating that you have taken steps to ensure the home is termite free.
Can a House with Mold Be Sold?
Technically speaking, yes, you can sell a home with mold. With that said; however, the chances of being able to sell a home with mold on the open market are problematic and likely expensive. The presence of mold in a home is similar to a termite infestation. Mold in a home is invasive and can cause a number of known health issues. It’s little wonder that many buyers shy away from homes known to have mold. Since sellers are legally required to disclose the presence of mold in their homes, there’s little chance that you will get around dealing with the situation if you are aware your lovely older home has a mold infestation.
Many homebuyers use an FHA loan to purchase homes. If your buyer is using this type of loan, the property inspector may require that you have the mold removed before the deal can move forward. Mold removal services can be quite expensive, especially if the mold is widespread throughout the home. Even if you are not required to handle the mold removal before the deal is allowed to close, you should anticipate needing to drop the price of your home in recognition of the fact that the new owner will need to address the situation.
Old vs Ugly Houses
Just because a home is old, doesn’t mean it’s ugly. Many older homes look beautiful on the outside and have beautifully charming features inside. Even so, there can often be structural problems hiding behind all the charm. While those problems can be fixed, it takes time and money to take care of them. For many homeowners, this is just simply too much of a hassle.
Choosing to sell your home quickly to Best Offer KC will present a number of advantages to homeowners. First, doing so can speed up the sales process. Additionally, sellers will know exactly how much they will receive from the sale of their home from the outset without worrying about making expensive repairs or paying commissions. Finally, selling to us removes the worry as to what might happen later if the buyer discovers something wrong with the home and accuses the seller of withholding the information rather than disclosing it as they were legally required to do.
If you have an older home in Kansas City, MO, and you are ready to sell quickly without any hassles, contact us or call 816-281—5269 to learn more about how easy it can be to “sell my home fast in Kansas City”.