Selling A Damaged House In Indianapolis

Houses need a lot of TLC and maintenance to withstand the test of time. With age, an array of issues can pop up, a leaky roof, foundation problems, or water damage, and unfortunately, they are usually not cheap to fix. If you own an older home in Indianapolis that has seen better days, you’re not alone. The average age of homes in Indianapolis is 46 years old, and the highest percentage of houses were built-in 1939- or earlier.

It’s not uncommon for people to put off doing renovations or fixing the damage, especially if they are expensive repairs. But when the day comes that you’re considering selling a damaged house in Indianapolis, you’ll have wished you had maintained things a little better. 

But don’t get too discouraged because the good news is that you can sell your damaged house; you’ll just need to figure out how to address the issues. Below we’ll cover all you need to know about selling a damaged house in this helpful guide so that way you can make your home sale a success.  

How To Sell A Damaged House In Indianapolis

house in Indianapolis with fire damage

Different Types of House Damage 

To start, you’ll want to determine what kind of house damage you’re dealing with. The different types of home damage usually seen would include:

  • Water damage 
  • Foundation damage
  • Fire damage 

If you have any water damage to your home, usually it’s pretty easy to find. You’ll either see watermarks on your ceiling, warped wood flooring, or mold growth. If you’ve had a fire in the kitchen, you’ll be able to distinguish what was affected. But foundation damage, on the other hand, can be more challenging to recognize. The best way to address these different types of house damage is to hire professionals to assess the damage and fix the issues. To give you a better idea of how to resolve these issues before selling your Indianapolis home, let’s take a look at each type of house damage mentioned above. 

Foundation Damage

Foundation damage may appear as a crack in the foundation itself, cracks on interior walls or ceiling, and even uneven alignment of doors and windows. When it comes to dealing with foundations hiring a professional to access the damage would be helpful. The extent of the foundation issue may be hard for you to determine on your own. By hiring a professional foundation company, you’ll get a better idea of the foundation damage, what needs to be done to fix the problem and how much it will cost. If you plan on getting the foundation damage resolved before selling your home, you may want to get several estimates before moving forward with repairs. That way, you can check pricing and get different opinions about the foundation damage. 

Want to learn more about how to sell a house with a foundation problem? Click here to learn how. 

Water Damage

If you’re dealing with water damage in your Indianapolis home, it could be for a number of reasons. You may be experiencing water damage because you have a leaky roof or basement, or maybe a pipe busted over the winter, whatever the reason dealing with water damage can be a hassle. The biggest issue you’ll have to deal with is replacing anything destroyed by water damage and mold. Yes, mold can grow in the presence of water damage. So the best way to resolve these issues, if you plan on fixing them before you sell, is to pinpoint the cause of the leak and hire a professional to address it. You’ll also want to consider hiring a mold remediation specialist to handle the mold issues. 

Fire Damage

Hearing the word fire can give you an uneasy feeling; hopefully, whatever fire damage your home sustained was minor and not harmful to you or your family. Fires can happen suddenly while cooking dinner, baking something in the oven, or because of a simple electrical issue. If you own an abandoned house in Indianapolis, fires can easily be started by vandals, squatters, or hazardous material. Regardless of how the fire started, you now have to deal with the fire damage to your home. So your next step, if you’d like to resolve the issue before selling your home, is to have a contractor access the damage and give you quotes to fix the fire damage. 

Determine The Level of Damage

It never fails; one issue can lead to another problem and another- for instance, if you’re dealing with foundation damage, you more than likely have water damage too. So if you know your house has issues, it will be important to determine your house’s level of damage before listing it. 

If you know your home has damage but are unsure of the extent of the repairs needed, hiring a home inspector would be helpful. A home inspector will give you a better idea of the level of damage to your house and let you know what all needs to be addressed either by you or the next homeowner. 

Do Repairs Before Selling The House 

It’s no surprise that houses in good condition sell faster. People looking to buy are usually on the hunt for well-maintained homes. And, it’s challenging to find buyers looking for fixer-uppers, let alone damaged property. So you’ll either need to make repairs before listing or consider reducing your asking price to accommodate the repairs the next owner will need to make. The easiest way to figure out repairs on your house is to use your inspection report and categorizes the repairs into minor house repairs and major house repairs. This will help you figure out which ones you should consider doing before listing your Indianapolis home. 

Minor Repairs to Fix

Here are some minor repairs to fix, some you may be able to handle yourself, others may require a handyman. 

  • Touching up paint on walls 
  • Tightening a leaky faucet
  • Tightening loose doorknobs and/or cabinet pulls
  • Replacing light fixtures
  • Replacing a toilet handle
  • Clearing clogged drains 

Major Repairs to Fix

Here are some major repairs to fix, more than likely, you’ll need to hire professionals and keep in mind how much these repairs will cost and how long they will take to finish. 

Major Repair:Estimated Time Frame:Estimated Cost:
Roof Replacement 2-3 weeks from start to finish$4,700-$10,500
Foundation Repair1-3 days to a week or two$450-$11,000
Foundation Repair (Major) requiring hydraulic piers1 week+$10,000-$15,000
Repair or Replace Water Heater1-2 days$523 to repair – $1000 to replace
Water Damage1-2 weeks Average cost $2,300
Mold Removal 2 to 3 daysAverage cost $2,200
Electrical IssuesA few days to a week Average $320 for repairs- up to $15,000 for rewiring 
Fire Damage (Small fire)A week or two$3,500-$5,000
Fire Damage (Roof involvement, cabinets)Several weeks to several months$50,000+

Selling a Damaged House in Indianapolis

Now that you understand the timeline and cost to repair a damaged house, you’ll need to decide how to proceed with selling your home. If you’d like to sell your property fast, you may need to look at other selling strategies besides fixing the damaged house and listing with an agent. As you’ve seen above, to get your home in condition to sell, may take weeks and cost tens of thousands of dollars. If you just don’t have the extra time or money to wait on your house to sell, consider these other options instead. 

Selling a House As-Is in Indianapolis

This whole time you may be worried about all the repairs you’ll need to make to get your damaged house ready to list and how to come up with the extra money to pay for it. Instead of stressing yourself out and creating a financial burden, why not sell your house as-is? Yes, you can sell your home in as-is condition in Indianapolis. There is a small pool of buyers out there who actually want to buy houses in Indianapolis as-is. The only tradeoff, more than likely, is a reduced sale price. But since you get to avoid the hassle of making repairs and paying for them, this option may be the perfect solution and a great way to sell your house fast. 

man with damaged house in Indianapolis selling to a cash home buyer

Selling to Cash House Buyers in Indianapolis

Have you seen those “We buy houses in Indianapolis” signs around town? Well, that usually is a local cash home buyer that buys properties in Indiana. Selling your damaged house to a local home buyer would be perfect for you. Not only do they buy houses as-is, but they also don’t charge realtor commissions or services fees. They can even help cover your closing costs. 

Time Worthy Property Solutions is a local cash home buyer that buys houses that need major repairs, have foundation issues, water damage, fire damage, storm damage, and so much more. 

They can also work with your timeframe. Time Worthy Property Solutions can make you a cash offer within 24-hours and close within 7-days. Cleaning isn’t required. And their home buying process is super easy. 

If you’re feeling overwhelmed by the idea of selling a damaged property or how you’ll afford to make all the repairs before listing, consider working with a cash buyer like Time Worthy Property Solutions

Final Thoughts 

Don’t forget selling a house, whatever condition it’s in, isn’t easy. And a lot of work could potentially go into selling your damaged house. It’s just important to weigh your options and know that you can always sell as-is to a cash home buyer if you’d prefer not to deal with the headache of making repairs and waiting months for the right buyer to come along. You can always sell your place as-is to Time Worthy Property Solutions and let them handle the damaged house and repairs. That way, you can move quickly and find an ideal home for you and your family. 

kevins

Kevin is a real estate investor dedicated to helping homeowners sell their properties quickly and without the stress and hassle of a traditional listing.

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