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How to Sell Your House with Mold to a Wholesaler

Nov 18, 2020 | Sell Your House, Things To Know, Tips

If you only consider mold to be the dark, damp stuff found on shower tiles or tubs, then it would not strike you as an issue that would need special attention. It becomes a cause for alarm when it spreads around your home, wreaking havoc to your house’s structural integrity…

WRITTEN BY UNITEDHOMEOFFER

If you only consider mold to be the dark, damp stuff found on shower tiles or tubs, then it would not strike you as an issue that would need special attention. It becomes a cause for alarm when it spreads around your home, wreaking havoc to your house’s structural integrity and jeopardizing your sale.

How to sell your house with mold is a common question but selling your house to a wholesaler is entirely different. Wholesalers do not intend to use the house in any other way but sell it for profit. They are usually more open to a quick sale, and if the house has any issues, they will fix it themselves. This means that you do not have to go through the painstaking process of having the house market-ready yourself. 

Review Data on Recently Sold Poor Condition Houses 

In the Real Estate market, homes listed or sold on the market similar to yours are called “comparables” or “comps.” Before you contact a wholesaler, you need to know the worth of your property. This is even more important regarding a house with mold.

If you list it too high, you may waste time and effort marketing a property that is not worth the price and chase wholesale buyers away. The other side is listing is too low, and losing out on a possible return on investment.  

Comparables also provide valuable insight into what kinds of property are in demand and what buyers are willing to pay. Of course, you are unlikely to find a house exactly like yours, but these guidelines can help you find the closest thing.

  • Property Type: e.g., duplex, bungalow
  • Location: ideal comps are within a 1 – 3 mile radius of your house. 
  • Size: the best comps should have a 10% plus or minus range from that of your house

Informal and Formal Mold Disclosure in Real Estate

Several states in the US need sellers to disclose material defects with their homes to buyers via a formal document. This includes a history of mold, including if it was remedied professionally. This list of real estate disclosure forms for all the states allows you to know if this affects your area. Look for questions such as:

  • Are you aware of mold or mildew affecting this property?
  • Are you aware of mold testing on this property?

Other disclosure forms may include checkboxes for “Yes/No” against fields for toxic mold. They could also contain advisory to buyers to confirm the mold status within the property. 

Fix the Low-Cost, Cosmetic Issues

To sell your house with a structural defect, you must ensure its value is not reduced due to other factors. Wholesalers seeking fixer-uppers will get intimidated by an extensive list of repairs they must perform before resale. 

You can get more by deep cleaning, decluttering, and depersonalizing your home. Besides this, make low-cost fixes like straightening out a broken HVAC, mending problematic roofing, and changing fixtures (faucets, lighting, etc.). Now that you have a good idea on how to sell your house with mold, hopefully all of the above will help you! Hopefully, now with all of this new information you have learned how to sell your house with mold and can do so!

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