If you own a condemned house and are wondering if you can sell a condemned house in Memphis, the good news is that the answer is yes. Of course, if you’re going to sell a house in poor condition that has been condemned, you’re going to have to understand the right things to do in order to make sure you can complete the sale. You don’t want to try to sell a Memphis condemned house and then find out that you’re not reaching the right buyers or not doing what you need to do in the real estate market. You also want to be clear about whether or not you’re allowed to sell the condemned house or if only the land can be sold.
Regardless of the condition of your house, a house seller needs to understand the Memphis real estate market and how it works. And when you’re selling a condemned house, you have to think about who might be interested in buying such a property. While you could try selling your condemned house on the housing market, working with a cash buyer like Fair Cash Deal could make a lot more sense. We buy homes in Tennessee as-is in any condition and that includes condemned property.
Let’s take a closer look at whether or not you can sell a condemned house in Memphis.
Reasons Why You Would Sell a Condemned House
There are a lot of reasons why you would sell a condemned house and it all begins with the most obvious one. While the rules vary by state, it’s very unlikely that you will be allowed to live in a condemned house. Chances are, the house has been condemned because the government has decided that it is not fit to be lived in. That also means that most of the time, the owner of the property and any tenants are not allowed to live there. The owner of the property will be notified by the state or local government about the condemnation via letter and they will usually be presented with two options. One, they can make the needed repairs, which are likely very extensive and expensive. Two, they can vacate the house. Many people choose the latter and decide to sell the condemned house because they don’t have the money or time to renovate the property.
It often doesn’t make a lot of sense to continue to own a house you can’t live in. That’s why selling a condemned house in Memphis is a popular strategy for those in need.
Why Selling a Condemned House Can be Hard
There are a lot of issues involved with selling a condemned house that can make it hard. That’s why it’s important to understand whether or not it makes sense to list the property on the housing market or if you should just try to sell it to companies that buy houses in Memphis like Fair Cash Deal. We’ll buy the house or property in its current condition and we pay home sellers cash for their homes.
Sometimes it can be hard to sell a condemned house given the local laws, but there are strategies and ways to do it. Sometimes you will be able to sell the land that the house was located on, but because the property is condemned, you will have to pay to tear down the structure so that someone else doesn’t get hurt after going inside. If you sell a condemned house in Memphis to a market buyer, you might have to tear down the structure because you can get approved for a mortgage. Even then a lender might not be interested in getting involved with this kind of real estate deal. This kind of property is not a problem for Fair Cash Deal. We don’t work with lenders so there’s no need to wait for their approval.
Memphis House Code Requirements
When it comes to condemned property, it is vital that you be familiar with Shelby County and Memphis house code requirements and how to avoid any further code violations. The city of Memphis and other local municipalities will want to enforce house codes and they are likely to have a vested interest in any condemned property that you are attempting to sell.
There are many Tennessee housing codes that you are going to want to be familiar with as well. When it comes to condemned houses and trying to sell condemned property, you don’t want to draw the attention of the state, city, or any other municipality that might want to prevent the sale.
One of the biggest reasons to consider selling your condemned house to Fair Cash Deal is that we will handle the house codes for you. You don’t need to fix anything, you don’t need to clean up anything, and you don’t need to make any changes to the house. If we buy your house for cash, we take on all the responsibility of getting the house up to house codes for Memphis and Tennessee. We’re happy to do the hard work while you get to have cash for your condemned property.
How to Sell a Condemned House in Memphis
When it comes to selling a condemned house, it might sound like something that is impossible, but the truth is that you can certainly do it. There are ways to consider selling a condemned house that you’ll want to focus on. Let’s take a look at the process involved with selling a condemned house in Memphis in order to make sure it is a positive experience for you.
One route you can take is to sell your condemned house with a real estate agent or Realtor. They will help you list the house on the market, negotiate with buyers, and complete the sale. It’s important to note that they take a commission fee for their work, which means that you’re going to see a significant chunk of money come off the final sale price (the average commission fee in Tennessee is five or six percent). What might have been some profit for you could instead go to the real estate agent, which negates the time and energy put into selling that way.
You can also try selling your house by yourself in what’s known as a For Sale By Owner (FSBO) sale. This means that the entire sales process is your responsibility and if you’re not an expert that can get confusing and overwhelming very quickly. This includes handling all of the marketing of your house, dealing with repairs and contractors, hosting open houses, negotiating with buyers, paying closing costs, and dealing with inspectors. Plus, you’ll still have to pay the buyer’s agent a commission fee (two or three percent), so you won’t avoid paying fees anyway.
Another way to go is to sell your condemned house to a cash buyer or real estate investor. That’s what Fair Cash Deal is and we buy Memphis houses for cash all the time. We buy houses as-is, which means we buy houses in any condition. We make you a fair cash offer and it’s up to you to decide if you want to accept. If you do, we can close as fast or slow as you want. And we hand you cash for your condemned house and then take care of the repairs, clean-up, and government issues so you don’t have to. Plus, we don’t work with middlemen so there are no real estate agent commission fees or waiting for mortgage lenders to approve anything.
Determine if a House is Fixable
When you’re trying to sell a condemned house, it’s important to understand what is happening inside the property and whether or not the house is fixable. That is valuable information that any buyer is going to want to know before they buy the house. This is also going to help you identify what kind of repairs you might be able to make yourself versus the kinds of major repairs that require money and professionals.
You also want to be able to identify all of the violations that are responsible for the house being condemned. That’s something you’ll need to be aware of and you’ll want to be able to tell buyers so they can make an informed decision. Some of the biggest code violation areas include heat, light fixtures, electrical outlets, ventilation, hot water, and plumbing.
Make Any Major & Minor Repairs
If you’re going to sell your condemned house in Memphis on the housing market, you’re going to want to consider making repairs. You need to determine not just the minor repair needs but also the major repair needs as well. First, look to the minor repairs like light fixtures or broken cabinets and figure out if you have the means to fix them yourself.
Then, you’ll want to make a list of the major repairs needed because this could make or break your decision to sell on the housing market. You’re likely going to want to call some contractors to get estimates, especially if you’re talking about things like selling your house with foundation problems, holes in the roof, or flooded basements. These aren’t jobs to be done on your own. If you do make all the repairs, you’re going to have to get the house inspected once more in order to prove that it is back in livable condition.
Sell Your Memphis House As-Is
If you don’t feel as though you are capable of doing or paying for the needed repairs, or you want to sell your condemned house fast, you can sell your Memphis house as-is to a cash buyer like Fair Cash Deal. We will buy your house for cash and we can buy your house in a matter of days if you want. Whatever the reason you need to sell your house, we can make it happen. And our offers are no obligation, which means you don’t have to accept them if you don’t want to.
When it comes to whether or not you can sell a condemned house in Memphis, the answer is yes. However, as we’ve learned, there are specific things you need to know. Also, some avenues are going to make more sense for you in certain situations. If you want to sell your house fast, the best way to do that is to sell your house to Fair Cash Deal for cash today.