FAQs About Selling Your House With Roaches
A roach infestation in your home is not only inconvenient - it can also create numerous hazards. While infestations do not cause physical damage, they do leave an unmistakable pungent odor and can spread diseases like salmonella and gastroenteritis. The worst part of these unwanted creatures is that they are difficult to exterminate.
Battling a roach infestation may be more trouble, and more costly, than keeping your home. If you’re thinking of selling your infested house, here’s everything you’ll need to know in a quick and easy Q&A.
- Who Buys Houses With Roaches and Why?
- Why Does It Cost More to Stay Than Sell?
- Do I Have to Disclose There Are Roaches In My House When Selling It?
- What May Happen If I Don’t Disclose My Roach Infestation?
- Am I Required to Get Rid of Them?
- Is My House Worth Less?
- How Can I Sell My House With Roaches?
Who buys houses with roaches and why?
Real estate investors are the top buyers for roach-infested properties. They are always on the lookout for easy fixer-uppers to buy, flip, and turn a profit. They do not plan to live in the property themselves. With roach-infested properties, sometimes the cost to fix the damage done by roaches can be costly. The price to exterminate them may prove more costly than starting over. Investors, however, can afford to put the money needed into these homes because they are selling the house.
You may not get as much as you expect, but you will be able to get some cash from the exchange. In these exchanges, buyers may plan on demolishing or rebuilding the home. That means less time and money needed for property taxes, mortgages, and inspections. You can wash your hands of your roach problem and enjoy living again.
Do I have to disclose there are roaches in my house when selling?
Yes, depending on your state of residence, sellers are required by law to disclose any pest infestation. Michigan, Texas, and North Carolina require sellers to disclose any history of infestation. You can find a list of disclosure information by state by going to Google and typing in “Do I need to disclose roach infestations in (insert your state here)”.
What may happen if I don’t disclose a roach infestation?
If you don’t follow the disclosure laws put in place by your state, you may face legal action and end up with the house again, even If an infestation is discovered after the sale is complete, the buyer may be able to get his or her money back, and you may be responsible for all fees and losses. That is why it’s important to feature them on the disclosure sheet.
Am I required to get rid of the roaches?
You are not required to get rid of the roaches if the buyer is an investor that purchases the property as is. Normally, they don’t require extermination because they plan on rebuilding. If the buyer does request it, you are obligated to exterminate the roaches, or it can cause the deal to fall through. If you say you will exterminate them, but don’t, and they’re discovered after the sale, you may end up with expensive legal fees and a court battle where you’re required to buy the house back. Selling a house with a bad roach infestation to a company that buys houses for cash is normally the safest route.
Is my house worth less?
Yes. Because of the cost of repairs, extermination costs, and possible repeat visits from a pest control company to completely exterminate the infestation, your home will be worth less. Depending on how long the process takes, it could cause less excitement for the buyer. That is why roach infestations cause your home to be worth less money than other properties in the area. On a positive note, that makes it more appealing for a real estate investor to buy the house.
Why does it cost more to stay than to sell?
Rebuilding or rehabbing a home after roaches have been exterminated typically requires a new mortgage, along with all building costs - from materials to labor and replacing furniture. It may not be costly for investors, because they’ve done the research and know they can sell for a profit. If you did plan on selling after exterminating a roach infestation, you must disclose it unless you live in Michigan, Texas or North Carolina. Just the thought of a former roach infestation can deter prospective buyers or the buyers may offer less money due to fear of a returning infestation.
How can I sell my house infested with roaches?
You can try listing your home through an agent or by yourself. But with a roach infestation, this listing process can be drawn-out and costly. The most popular option is to contact a house buying company that specializes in homes with these special circumstances. They don’t expect you to rid the house of the intruders because they plan on rebuilding, and you’ll get a cash offer so you can put the nightmare of a roach-infested home behind you. Selling your home can be a hassle without a roach infestation. But you do have options. Taking this house-buying company route is the most popular because you’ll have cash in hand once the deal closes, and you can move on with your life.
If you’re looking to sell your house with dirty little creatures fast, we’re ready to help. Call us today and finally get rid of your roach problem once and for all.
You can also read up on other kinds of common infestation problems that people face: