A recent discovery of a termite infestation can be a stressful finding for any homeowner. When selling your home, it’s essential to know what to do next. Here are some tips on how to sell a house with termite damage. Foremost, don’t panic. While termite damage can be extensive, it is typically not a death sentence for your home sale. Here’s a guide to handling this situation.
Get a Full Assessment
The first step is to get a full assessment from a licensed termite inspector. This will help you determine the severity of the property damage and what repairs need to be made. Sometimes, the damage may be cosmetic and not require any significant repairs. However, if the damage is more extensive, you’ll need to factor in the cost of repairs when pricing your home.
What is the Treatment For Termites?
The treatment for termites depends on the severity of the damage. If the damage is minor, spot treatments may be all that’s needed. However, if the damage is more extensive, you may need to have your home tented and fumigated. This process is more involved but eliminates all the termites from your home.
What Damage is Common With Termites?
The most common type of damage from termites is to wood structures. This can include the framing of your home, floors, and walls. They can also damage drywall, insulation, and electrical wiring. Sometimes, termites can even cause structural damage to your home.
How Much Does The Damage Cost to Repair?
The cost of repairing termite damage varies depending on the severity of the damage. For minor damage, spot treatments may be all that’s needed. However, you may need to have your home tented and fumigated for more extensive damage. This is a more involved process, but it will eliminate all the termites from your home.
Should You Make the Repairs?
Once you have the assessment, you’ll need to decide if you can make the repairs or sell the house as-is. If the damage is extensive, it may not be worth your time or money to make the repairs. Here, selling your home as-is may be the best option.
However, if the damage is minor and the repairs are not too costly, you may want to make the repairs before listing your home. This could help you get a higher price for your home.
Get an Experienced Realtor
If you decide to sell your home with a termite history of Formosan termite colonies or subterranean termites, working with an experienced realtor is essential. They can help you price your home correctly and market it to the right buyers.
Also, they can help you navigate any challenges during the sale. Interested buyers may expect a discount on a home with past or present termite activity. Even after the termite problem is fixed and repair costs are considered, the potential for future termite activity may warrant a significant discount.
Pricing Your Home
When pricing your home, it’s essential to be realistic. Be sure to factor in the cost of repairs when setting the price. It’s also a good idea to consult a realtor to estimate your home’s value accurately.
You’ll need to disclose any significant termite damage to potential buyers, so pricing your home correctly is vital. After one, future termite infestations are possible.
Sadly, no matter how much money you put into fixing and renovating your house with termites, don’t expect full market value from prospective buyers. Past termite damage can lower your home’s value.
Marketing Your Home
When marketing your property, be sure to disclose termites. You’ll want to underline any positive aspects of your property that might help to balance the adverse effects. For example, mention these things in your listing if your home is in a great location or has been recently updated.
Try these statements for your real estate marketing:
“This home is perfect for someone who is handy and looking for a deal. It has great bones but needs some work.”
“This home is being sold as-is because of termite infestation. The damage is extensive, but the home is in a great location. Also, the home’s foundation is solid.”
“This home has been recently updated, and the termite infestation is gone and damage repaired. It’s move-in ready!”
It’s easier if you’ve made all the repairs and renovations. Try these statements:
“This home is move-in ready! All the repairs and renovations have been made, so it’s like new.”
“This home is better than new! It has all the updates, and the termite damage has also been repaired.”
“This is your chance to own a like-new home without paying the price tag. All the work has been done for you!”
Making the repairs and renovations can be costly, but it will pay off when you sell your home.
How Long Does it Take to Sell a House With Termite Damage?
The time to sell a house with termite damage varies depending on the severity of the damage and the market conditions. In the current market with rising interest rates, selling your home may take several months or longer.
Skip the Real Estate Market Gamble With a Cash Buyer
You have other options for selling your home besides going through the traditional real estate market. You can sell your house for cash when you skip the open market.
What is a Cash Buyer?
A cash buyer is a person or company that buys homes for cash. When you sell your house for cash, you don’t have to go through the hassle of making repairs, finding a realtor, or waiting for months to sell your home. Even in a hot real estate market, a Formosan termite situation can be challenging for even the best real estate agent to sell.
What are the Benefits of Selling Your Home For Cash?
When you sell your home to companies such as house flippers, you can close on your timetable. You don’t have to wait for months to sell your home. You can often close in as little as two weeks with a cash offer.
Another benefit of selling your home for cash is that you don’t have to make any repairs. An investor buys your house as-is, no matter its condition. This can save you thousands of dollars in repairs.
Here are a few other advantages of skipping the real estate process and selling to an investor:
One Conversation About Termite Infestation and Damage
Let’s be honest. No one wants to talk about termites, but if you’re selling your home, you have to. Termite damage is a severe issue that can lower the value of your home and make it harder to sell. When you put your home on the market, you will have to have the discussion several times over.
You’ll talk about it with your real estate agent, potential buyers requesting a home inspection, and the home inspector themselves. Every conversation is a painful reminder of your home’s termite damage.
You only have to have the conversation once when you sell your home for cash. You don’t have to relive the nightmare of finding out your home has termite damage over and over again.
No Home Staging or Open Houses
If you’re selling your home the traditional way, you will have to stage your home for showings and open houses. You may have to rent furniture, hire a professional stager, or even make repairs to your home. This can be a time-consuming and costly process.
When you sell your house for cash, you don’t have to worry about that. A property investor buys your house as-is, no matter its condition.
No Seller’s or Buyer’s Fees
When you sell your home the traditional way, pay real estate commissions and fees. These fees can add up to thousands of dollars. You don’t have to pay any of these fees when you sell your house for cash.
Selling your home For Cash
If you’re selling your home because of termite damage, a cash sale can help you avoid the costly repairs. You can use the money you save to pay for your next home.
Choose We Buy Houses RVA to be your cash buyer. We close fast, usually in two weeks or less. And we don’t charge any commissions or fees.
If you’re ready to sell your home, contact us today for a free, no-obligation offer.