Selling houses is often a complex process due to the unique circumstances that surround each real estate transaction. For instance, if you have a property with a high land value but the house is in disrepair or grossly outdated, you may consider selling it as a teardown.
Learning how to sell a teardown house can help streamline the whole selling experience. Review our comprehensive guide below to learn the steps of selling a teardown home.
What Does It Mean To Sell a House as a Teardown House?
Before learning how to sell a teardown house, it is helpful to first understand what a teardown house is. This type of property is sold not for the quality or potential of the house but for the land it sits on. Buyers of teardown houses usually demolish the buildings and capitalize on the land’s redevelopment potential to construct something new.
The Benefits of Selling Your Property as a Teardown
This type of real estate sale is something to consider if you want to maximize property value, rather than focusing primarily on the house itself. The process would be beneficial to you as a seller under the following circumstances:
- The cost to renovate or repair your house exceeds its real estate market value.
- The local zoning regulations allow for redevelopment.
- Your land is in a high-demand area for developers.
Tips for Selling Your Teardown Home
If you’re considering a teardown sale, below are some steps to follow.
Determine the House’s Qualifications as a Teardown
Streamlining the house-selling process means avoiding mistakes homeowners often make. A common one when selling a teardown house is not verifying whether the home qualifies as a teardown.
Not all fixer-uppers should be upgraded, nor should all of them be demolished. Your residence will qualify as a teardown if it has major structural, plumbing, or electrical issues and renovation costs exceed the house’s potential resale value.
Estimate Your Property Value
If your house qualifies as a teardown, your next step is to determine your property value. This information will help you calculate the potential worth of your teardown to attract the right type of buyers.
Understand Local Zoning Regulations
You can’t ignore local zoning laws when learning how to sell a teardown house. You must inform buyers of the potential uses for which they could utilize the land. Having an understanding of regulations can help with that.
Choose Your Selling Method
You can sell your teardown house as-is, which means you won’t have to make any changes to the house. You can also make minor improvements to attract more buyers.
Home Buyers of Savannah Make Teardown House Sales Easy
The best way to avoid liability after selling your home is to sell it correctly with the proper disclosures and approvals. At Home Buyers of Savannah, we know how to sell a teardown house. As cash buyers serving Savannah, we purchase residential properties in as-is condition and handle the paperwork, ensuring a streamlined process for our clients.
If you’re ready to sell your house without a hassle, contact Home Buyers of Savannah at (912) 513-8744 to request your fair cash offer.
