Do you own a house in Raleigh with code violations? This can be a very stressful situation. Especially when the City of Raleigh is sending you threatening letters via certified mail, and calling your personal cell phone! Learn more about how to sell a house with code violations in Raleigh NC.
When you own a house that is in need of continual repairs, simply owning it can become tiresome and frustrating. It may seem like you are making one repair after another, never really being caught up and always thinking about the next thing you will need to fix. Owning a house like this is expensive and incredibly stressful!
What Housing Code Violations Did You Receive?
Were you sent a notice of violation from the City of Raleigh via mail? If yes, they most likely send you a list of items that need to be fixed in the house, especially if this is a rental or vacant property! Does the paperwork include a punch list of items that need to be fixed or just a list of violations?
The reason why this is important is you need to know what you need to fix so you can come up with a repair estimate. For example, did the inspector say you have to repair specific outlets in specific rooms of the house, or just list that all outlets need to be functioning to specification and need to be secured to the wall?
Calculating Repair Costs For a House with Code Violations
Once you have a complete punch-list of repair items for the house it is time to start getting repair estimates. Depending on the extent of the repairs, you can hire a handyman to do the simple punch list items, or you can hire a general contractor for items that are more involved (roof, window, HVAC replacement).
We recommend getting at least three estimates from different contractors before proceeding with the work.
Estimates are just that..estimates. It is likely that the project will go over budget. It is always safe to pad your renovation and repair budget by at least twenty percent.
When you own a house that requires many repairs to make it livable, the costs can tend to snowball. This is especially true when the house has been vacant for a while. Pulling up old carpet and padding can expose water damage in the subflooring, especially around the wet areas. This reveals the need for carpentry work and possibly mold remediation.
If the above seems like a huge hassle, that’s because it is! But you can choose to sell the house “As-Is” as long as you disclose the code-violations and documentation provided to you by the city, to any potential buyers.
There are two ways of doing this. You can list the home for sale on the Triangle MLS with an agent, or you can sell it directly to a company that buys houses for cash. Otranto Real Estate Co. – Mike Buys Houses is a team of homebuyers who will pay you a fair price for your house no matter what condition it is in. Learn more before you decide what to do with your Raleigh house!
Listing your house on the Triangle MLS when it needs major repairs will take time and patience. Few buyers have the vision of renovating an older dilapidated house into a completely new product. Your target audience will be investors who will not be living in the house themselves. If you do decide to list with an agent, we would recommend using an agent that has experience with selling investment properties. You will need to satisfy all the disclosure requirements and market the house in the best possible light. These two things are difficult to do simultaneously.
Direct Sale To a Company That Buys Houses
A direct sale of your house that has code violations is best done with a professional homebuyer. At Otranto Real Estate Co. – Mike Buys Houses, we purchase properties of all sizes, shapes, and conditions. We want to create a win-win situation so you can walk away from the property without facing any additional cost or stress. Keep in mind, we DO NOT ask our sellers to make repairs. We buy all of our houses “as-is!” You don’t even have to clean the property or discard unwanted items. We’ll take care of that for you! We can pay all of the closing costs and close whenever you want. Be it a few days or a few months. We can accommodate your schedule.
If you are looking for a fast and fair way to sell a house with code violations in Raleigh, get in touch with us today!