Are you looking to sell a house with code violations in Oklahoma City? Code violations usually happen when a property is neglected or suffers damage from a disaster, like fire damage or sever weather. Local building codes are in place to protect the safety and welfare of the occupants. Failure to maintain your property can lead to citations and expensive fines.
So if you’re looking to sell your house fast in Oklahoma City you may be wondering if code violations will cause a problem. The great news is that a house that is not up to code is NOT impossible to sell. You’ll just need to find the right buyer. One option is to find a buyer who can obtain financing and insurance because most mortgage lenders will require all repairs to be made before closing. Your other option is go with a local cash home buyer who will buy your house as-is.
Here are three ways to sell a house in Oklahoma City with code violations.
Option #1 – Make Repairs Before Selling
If you want to get the best possible price for your home, your best option may be to complete all the necessary repairs and maintenance. It really depends on the severity of the issues. Simple code violations are often inexpensive and don’t take long to fix. But larger problems, like plumbing or foundation issues, will take more time and more money. If neither your savings nor your timeline allow for repairs, you may want to look into other options.
You should also take the market condition into consideration. If buyers in Oklahoma City have a lot of property options, they can (and most likely will) demand repairs or walk away from a sale.
Option #2 – Lower Your Price or Offer Credit
If you can’t afford to make the necessary repairs, but still want to list your house for sale, you will have to disclose all the code violations to potential buyers. You can offer them credit at closing or reduce your asking price. The difference will help the buyer cover repair costs.
Whether you can actually make the sale or not depends on the types of violations. If they threaten the safety and health of the occupants, chances are a traditional buyer will not make you an offer.
If this is your first time selling a home, keep in mind that an inspection is required by most loan types. If you’re not transparent about all the issues, and a home inspector uncovers the truth, the buyer will walk away. However, if the inspector misses something, the house closes, and then later it’s discovered, legal action can be taken against you.
Option #3 – Sell Your House As-Is to a Local Cash Buyer
If you’re looking to sell your property fast, without repairs, selling a house as-is to a cash buyer is your best option. It’s difficult to find a traditional buyer, with the help of an agent or Realtor, who will pay cash for a property with code violations. Only real estate investors and house flippers find difficult houses attractive and will throw out offers to purchase.
At Premier OKC Home Buyers, we are local buyers who pay cash for homes in any condition, no matter the severity of the code violations. We pay fair prices for homes with code violations and we also pay 100% of the closing costs. Even better, we operate on YOUR timeline. You can pick your own closing date, whether it’s in a few days, weeks or months.
If you’re curious how you can sell your house with code violations, contact us today!