No matter what time of year, dealing with a leaky roof is not a fun situation to handle. Of course, it would so happen that you were considering selling your Louisville, Kentucky home and discovered the leak while accessing the property for repairs to get the house ready to list. We’ll a little bit of good news is that you can sell your house with a leaky roof! The only difficulty is you will need to find the right buyer to take on that project. To help you decide how to address this particular problem and sell your house, we’ll take a look at your available options and if selling your house as-is, leaky roof and all would be a good idea or if you should fix the issues before.
Do You Have A House With A Leaky Roof In Louisville and Want To Sell It?
How To Spot a Leaky Roof
Usually, when a leak is spotted, it’s because you have found noticeable water damage. But if you’re unsure where the leaky is coming from, going into your attic to view the underside of the roof would be a good place to start. Make sure to be careful while looking around and to bring a flashlight to locate dark areas surrounded by typical roof sheathing. Usually, these areas are easier to notice after a recent rainfall, but if it’s been a while since it has rained, you can also look for signs of mold. Mold thrives on moisture and can be used as an indication of the vulnerable point in your roof.
If the underside of your roof is covered by insulation, it can actually help pinpoint the location of the leak. Insulation deteriorates quicker than wood, so signs of a leak will be more noticeable. However, the leak may be several feet to either side of the affected insulation, so make sure to carefully remove the insulation around the prominent spot where you noticed signs of a leak. By doing this, you will be able to follow the path the rainwater took, and it’s entry point. Don’t forget when working with insulation to wear the appropriate clothing and gloves to protect yourself.
Over time certain areas of your roof can age and become sources of water leaks. Two areas to check would include around your chimney and roof vents. Over time these areas can be affected by corrosion or become weakened, resulting in pathways for water to get into your home.
If an object was the cause of the leak, these are usually the most noticeable to locate. Debris such as pine needles, branches, and leaves can trap water on your roof during rainy seasons. When water is trapped and settles for an extended period of time, it can start to seep into your roof slowly. Make sure to trim back any surrounding tree branches that hang over your roof and remove any debris from your roof and gutters to prevent this issue.
Finally, if you’re still unsure where the leak is located, and current weather conditions have been dry, you can always recreate rainwater with your hose. This will be a two-person task, one person simulating the rain with a garden hose and another person monitoring for leaks in the attic. The best way to test the roof is to water sections of the top of the house and have the person inside watching for leaks on the roof’s underside.
Once you’ve figured out where the issue is coming from, you will need to access the damage. One way to do that is to hire a home inspector to evaluate the damage and give you an idea of the repairs that will need to be made. This could involve getting quotes from roofing companies and mold removal services, as well as a handyman to replace rotting wood.
Can You Sell a House With a Leaky Roof?
Finding out you have a leaky roof, especially when you’re hoping to sell your home, can make you wonder, “can I sell a house with a leaky roof?” Which as mentioned above, you can! But finding the right buyer will be key to a successful home sale. When selling a house with a leaky roof in Louisville, you will need to sell your house as-is. Selling as-is will get you off the hook for making repairs to the roof and fixing any other problems, but you will need to find a buyer willing to take on such repairs and expenses. Unfortunately, even if you were to find a buyer willing to take on the leaky roof situation, their bank might not approve a home loan for the buyer to purchase the property. Mortgage companies usually have concerns about financing homes that don’t have a clear home inspection.
Some people consider selling their homes without disclosing the leaky roof, which wouldn’t be suggested. When it comes to selling a house in Louisville, there are Kentucky disclosure laws required by the seller to fill out regarding the house’s condition. One such question specifically asks about the roof condition and whether it leaks. If you were to be dishonest about the leaky roof, you could find yourself in legal trouble. Even if you were dishonest, you won’t be able to hide the issue because, typically, buyers request a home inspection be completed before finalizing the home sale. So the leaky roof issue will be brought to light no matter what.
Pros and Cons
There are several pros and cons when it comes to selling a house that needs a new roof. Pros would include not dealing with repairs and the expense. Cons would consist of the difficulty of finding a buyer and legal consequences if you do not disclose the condition of the roof to the new owner. Either option will cost you money, whether that be to fix the issue or to sell the house with the pre-existing condition. Usually, buyers will ask for a price reduction to accommodate the expense of repairing the leaky roof. So it leaves you asking the question, “should I fix or sell as-is?”
Fix or Sell As Is?
Weighing the pros and cons will leave you with considering fixing the leaky roof or selling as-is. So let’s take a look at these two scenarios to figure out what your next step should be.
Scenario #1: Fix The Leaky Roof
Deciding to fix the issue on your own isn’t a bad idea, but you may be wondering what all would go into fixing the roof? Once you’ve located the leak in the roof, it would be a good idea to get several quotes from a roofing company, contractor, and mold removal service. If the cause of the leak was the age of the roof, it would be a good idea to get the roof replaced. Although patching the roof would be a cheaper option, the prospective buyer may see that as an expensive repair that they will have to make in the future.
To replace an entire shingle roof in Louisville costs roughly $6,000- $8,000 and takes several days to complete. While that is being done, you will also need to have any water damaged or rotting pieces of wood replaced on the house. The cost to replace any rotting wood in Louisville runs between $300 and $350 per damaged area.
Depending on how significant the leak was, you may have mold growing in the house as well. To have mold removed can cost anywhere from $1,500- $2,000 in Louisville.
To fix the leaky roof in Louisville, you may end up spending $8,000-$10,000+, and that isn’t including any water damage to the interior of the house and or any other renovations that need to be made.
Something to keep in mind, even if you were to fix the leaky roof is the fact that it does not guarantee that you will make your money back when you sell the home or improve your chances of a quick home sale.
Scenario #2: Sell As-Is
Looking at the expense of fixing the leaky roof definitely makes you consider selling as-is. The downside to selling as-is will be a reduced selling price, but the upside to selling as-is would be not having to deal with all the repairs, hiring repairmen, and coming up with the money to pay for the renovations.
Many people find it hard to justify putting more money into a property they are about to sell and move out of. They would rather accept a reduced amount for their home and let the next homeowner deal with any issues going on with the house. But remember, you will need to find the perfect buyer to take on this type of property. Most buyers are looking for turn-key homes that are move-in ready. Few people have the time or money to invest in a fixer-upper.
The good news is that there is a perfect buyer in the Louisville area that would take on a housing situation like this- Time Worthy Property Solutions. Time Worthy Property Solutions is a professional home buying company that purchases properties in Kentucky with cash. Paying in cash allows them to close quickly and not have to wait on loan approval and inspections required by banks.
Time Worthy Property Solutions is an as-is buyer that looks for homes that need work and will buy your house in any condition- saving you thousands of dollars on home repairs or renovations. When you work with a home buyer like Time Worthy Property Solutions, you would be selling directly to them, so you won’t need to hire a realtor or sell by owner. All you need to do is contact them, share information about your house you want to sell, and then get a cash offer within 24-hours. Once you accept the offer you can choose the closing date. They can even close within 14 days!
Listing your home is unnecessary, and since you’re selling to Time Worthy Property Solutions, there are no agent commissions or service charges; they will even cover the closing costs. Time Worthy Property Solutions is a perfect buyer for houses with leaky roofs, water damage, termite damage, fire damage, unfinished construction, liens, code violations, and more. Even if you’re facing foreclosure, going through bankruptcy or divorce, dealing with probate, or inherited a hoarder house, Time Worthy Property Solutions can help. They purchase homes all over the Louisville area with unique selling situations, making them a perfect buyer for your house with a leaky roof in Louisville.
If you’re still unsure how you would like to proceed, here are what the steps would look like if you were to sell a house with a leaky roof.
Steps In Selling a House With Leaky Roof
If you’re interested in seeing what selling a house that needs a new roof would look like, here are the steps you would need to take to sell your home in Louisville.
Step 1: Make Repairs Around the House
Fix the leaky roof and make any other repairs around the house to get it ready to list. This may require you to hire several workers to make the necessary renovations around the home and could take a few weeks to complete depending on what all needs to be done. If you’re unsure what repairs need to be made or things to replace, hiring a home inspector to come out to evaluate the house would be a good idea. An inspector will give you an itemized list of all the things you need to fix around the property before listing. You can always wait to make repairs until the buyer has their own inspection done, but getting ahead of that would be a good idea. Hiring repairmen, ordering materials, and completing all the renovations around the house could take several weeks, depending on what needs to be done—something to keep in mind if you need to sell your home quickly.
Step 2: Figure Out A Selling Strategy
Once all the repairs are done around the house, it will be time to figure out how you’re going to sell. Two popular options are to list with a local real estate agent or to sell by owner. Both have their pros and cons. Selling with a realtor will be easier because they handle most of the selling process but charge a commission.
Selling by owner will save you money on the seller’s agent fee but not if the buyer uses an agent. You would still need to contribute to their agent’s commission, but you would still be doing all the work on your end to sell your home.
Selling by owner isn’t as easy as you would think. You would be in charge of listing your home, figuring out a competitive asking price, coming up with a marketing plan, hiring a photographer, answering questions, scheduling showings, hosting open houses, negotiating with agents or buyers, organizing the closing, and tons of paperwork. For many people, this can be hard to manage when trying to work, move, and take care of a family. It is nice that you would be able to save some money selling by owner, but you would need to be prepared for all the work involved.
Step 3: Declutter, Clean, and Stage The Home
After you decide on a selling strategy, it’s time to get the house ready to sell. Although you made repairs, you aren’t entirely done yet getting the house presentable to prospective buyers. If your home is full of items, you will need to do some decluttering. Make sure to clean out closets, the attic, garage, and basement. Depending on how much stuff you have, it may help to store these items in a storage unit. Clutter can look messy and may show buyers that there isn’t enough storage for things.
Next, you will need to do some deep cleaning. Make sure to dust, sweep, mop, vacuum, and clean every room in the house. This is extremely important, especially selling during covid-19, to clean all highly touched surfaces such as light switches, door handles, and countertops. If you have children or pets, it would also be a good idea to consider getting your carpets professionally cleaned to remove stains or odors. Keeping your house clean while for sale will be important because no one wants to buy a dirty house, would you?
Finally, once decluttering and cleaning is done, you will need to do a bit of staging. Staging can involve moving big pieces of furniture to storage, putting away family photos, and painting walls with a neutral paint color. The idea of staging is to help buyers visualize living there while highlighting how much space is available and that the home fits anyone’s style.
Adding a fresh coat of paint to the front door and mailbox wouldn’t hurt, and putting some flowers by the doorway would add some nice curb appeal.
Step 4: Wait for Your House to Sell
Unfortunately, whatever selling strategy you choose and amount of cleaning, decluttering, and staging you do doesn’t guarantee a quick home sale. Currently, the average number of days on the market in Louisville is 165 days. That’s a long time to wait to sell a house. Can you afford to wait that long to sell your Louisville home? Sadly, even if you were to get an offer, you would still need to wait until a buyer’s inspection is completed and buyer financing is approved before the closing can take place. All things to consider when trying to relocate.
Step 5: Accept an Offer
Yay, you got an offer on your house!! Once inspections are completed and buyer financing is approved, which tends to take 30-60 days to complete, you can officially sell your home! Before the official closing date, you will need to start packing, hire a moving company, and figure out your new housing situation. After you officially move out, it’s important to leave the house in a clean condition for the next owner so make sure to clean after you pack up or hire a cleaning service to deep clean the house.
Ultimately, selling a house in Louisville isn’t easy, no matter what condition it’s in. Selling a house with a leaky roof in Louisville can be done, but as we’ve learned, finding the right buyer will be key to a successful and quick home sale. If you can afford to fix the house and sell yourself, then selling with a realtor or by owner may be for you. But, if you’re looking for a fast home sale with minimal effort and less uncertainty, then selling to a local home buyer would be a great option.
Ideally, selling your house as-is would be an easy solution and one that would get you into a new housing situation sooner rather than later. If selling your house quickly is something you’re interested in, get a cash offer today for your Louisville home. Stop worrying about how to handle your leaky roof when you can easily pass that issue on to a buyer like Time Worthy Property Solutions. If you would like to find out more about Time Worthy Property Solutions and how it works visit their website for more information.