The real estate market is incredibly tough in Michigan. Even with the influx of current buyers, selling your house is an uphill battle if your property is not move-in ready. Today’s buyers are looking for houses in excellent condition with little time or investment in a fixer-upper. So if you have an old, damaged, or vacant house, you may want to consider an alternative to a traditional home sale.
At M1 Home Buyers, we buy houses as-is in Michigan. We can assess your property’s current market value and make a fair cash offer that you can work with. It does not matter how old your house is. We can take it out of your hands and help you get rid of the property or out of your mortgage. Best of all, we buy damaged houses as-is. You don’t have to make any repairs or home improvements.
What Is a Damaged House?
In real estate, a damaged house is a house that has sustained structural or expensive damage. The damage is bad enough to reduce the home’s value by several thousand dollars. There is a difference between an older home that needs a few upgrades and a damaged house that needs extensive repairs. Some examples of major home repairs include
- Full roof replacement
- Framework damage
- Cracks in the foundation
- Whole plumbing or electrical system replacement
- Flooring or sub-flooring damage
A damaged house may require repairs that exceed $10,000. When your house has this much damage, you will need to drop the price of your house considerably to make it sellable on the market. However, you may not find a buyer even after you drop the price. Why?
Why Will My Damaged House Not Sell?
There are several reasons your damaged house will not sell
Repairs Are Too Expensive
Major home repairs can cost between $5,000 and $20,000, depending on the work’s scope and the damage’s extent. Most buyers don’t want to sink that much into a home they’ve just purchased – especially if they have to take out a home improvement loan.
If your house was damaged by a natural disaster such as an earthquake or severe storm, you never know what problems could arise down the road. A buyer may not notice the problems until a year or two after buying the house. It’s better to buy a newer home that hasn’t been damaged than to take a chance on a heavily damaged house.
Too Much Competition
One of the biggest problems with selling a damaged house is that your property is competing with other properties in your market. Buyers may find properties in excellent condition at or near the price you are asking for your house. The Michigan real estate market is competitive. So, it’s hard to find a buyer willing to buy a damaged house as-is.
We Buy Damaged Houses in Michigan.
At M1 Home Buyers, we understand how difficult it can be to buy a damaged house. Our team works with motivated sellers who can’t find a buyer for their damaged houses. We can assess your home’s current market value and make a cash offer that you can work with. Here’s how it works.
- We are contacting you to discuss your home.
- We may request an in-home visit.
- Our buyers assess your home’s current market value as-is.
- We make a fair cash offer if we’re interested in the house.
- You accept our offer.
- We close the sale and pay you cash for your house.
In a cash home sale, we buy damaged houses as-is. That means we will take over the property in its current condition regardless of any issues with the house. You don’t have to make any repairs or home improvements. In most cases, you will not have to schedule an inspection. Sell your house as-is for cash and walk away with no strings attached.
Sell Your Damaged House in Michigan to M1 Home Buyers
We work with motivated home sellers in similar situations at M1 Home Buyers. We buy damaged homes as-is in Michigan. Call 248-397-5800 today for a fast cash offer from a company that buys houses in Michigan.