If you find yourself the owner of a now-condemned house, it’s understandable to feel stuck. The property may have significant structural damage or code violations you can’t address. So, can you sell a condemned house?
The process is subject to local and state laws, but the good news is that you have options. For example, if you have been asking, “Can I sell my house fast in Memphis?”, then finding a cash buyer like Pyramid Properties to close within a week can be incredibly useful.
Find out more about the process of selling your condemned house below.
What Is a Condemned House?
Property condemnation essentially means that local authorities declare that house uninhabitable. Usually, this is due to serious health, safety, or structural problems on the property that threaten human inhabitants, such as after natural disasters, fires, neglect, or criminal activity.
Most people would agree that all residential structures should have functioning utilities and structural integrity, at a minimum. A great number of property owners object and say their structure has been wrongfully condemned. However, it’s unlikely to find a property owner who has successfully overturned an official condemnation, say from erroneous inspections or code misinterpretations.
Local authorities only issue formal condemnations when the violations leading to citation of the property are obvious and convincing. The government can also condemn property under its eminent domain authority for public use, like a highway or a park. In this case, the authorities would pay the owner the fair market value of the property taken (that process often involves litigation over the offer amount).
Can You Sell a Condemned House?
Yes, you can sell a condemned house — but it is extremely difficult to do so via traditional methods. Real estate agents may avoid homes that buyers turn up their noses at due to the cost of repairs or demolition. At a minimum, property owners with condemned homes will have to shoulder these expenses and cleanup costs before closing.
Since attempts at repairs can be expensive and ineffective, it’s common for property owners to try to repair a condemned property and then demolish it anyway. Thankfully, there is a better option – sell your condemned property to a legitimate, reputable cash buyer!
Final Thoughts: Can You Sell a Condemned House?
While there are often multiple issues in properly cleaning up condemned property, a serious cash offer for your property in its “as-is” condition could allow you to take cash at closing and walk away from those problems. You can still have the benefits of selling a house this way while skipping the frustration of trying to clean up, repair, and list the real estate to get only disappointment in return.
Can you sell a condemned house? Yes, so why not look into a cash-buying option like Pyramid Properties in the Memphis metropolitan area? You could be rid of the property without cleaning it up or worrying about inspections – and all for a fair price.
Contact Pyramid Properties today at (901) 504-5555 for Memphis’ top cash home buyer. Alan can close the sale quickly for the stress-free cash you need to move forward.