Can you sell a condemned house? The simple answer is yes. However, most people cringe when they hear the words “condemned home,” so it can be difficult to sell. Today we’ll discuss everything you need to know about selling a condemned house.
What Makes a House “Condemned”?
A condemned house is a structure the government does not deem fit for living. Once a property receives this status, no one can use or live in the property due to safety concerns. If occupants are currently residing in the home, they are forced to move and cannot return until proper renovations are completed.
If the homeowner has enough resources to make all necessary repairs, it’s relatively easy to get the condemned status removed.
What Happens to A House That’s Condemned?
In most cases, the government seizes a condemned house immediately, and all occupants are forced to evacuate immediately. There are then signs placed around the dwelling to alert others that the property is condemned.
Depending on the situation, the government can actually order the homeowner to make all necessary repairs to bring the property back to a liveable condition. If the owner refuses or the house is beyond repair, the government can force the owner to demolish the home at their expense.
Condemned homes are not only eyesores, but they can also attract squatters, vandals, and trespassers. As the owner, these unwelcomed visitors can be a nightmare and make it nearly impossible to get the property back into shape.
Furthermore, while a condemned house cannot be lived in, it may still need to be winterized to prevent further damage caused by unmanaged utilities such as frozen water pipes. This means the government may have the power and gas shut off and the water pipes and plumbing fixtures drained of water.
Can You Sell A Condemned House?
If you own a condemned property and are asking, “can you sell a condemned house,” the answer is yes. However, there are a few things to know. First, generally, such properties cannot be sold as structures. Instead, you should list a condemned house should as land. Just keep in mind that the value is reduced because the buyer will have to cover the demolition cost and have the debris hauled away.
This alone makes it difficult for buyers to obtain loans on condemned properties. However, in some cases, you may find a buyer who has what’s called a “hard moneylender” to help them, which makes it easier. But finding such a buyer is very difficult.
So, what’s your best option? If possible, sell the property to companies that buy houses before the house is condemned. If it is already condemned, you should still reach out to companies that buy houses for cash. They may still be interested in the investment and have the cash to close quickly.
We here at Tropic Coast Homes buy houses in any condition with cash. We will give you a fair offer on your home or property in “as is” condition, so the condemned house isn’t a complete loss.
Contact us today so you can move out and move on!