Deferred Maintenance

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Selling a home can be an involved process, especially if there are maintenance issues that haven’t been addressed over time. Sadly, these maintenance issues can often pile up, making the process of selling a home with deferred maintenance even more difficult. 

• Does your home need a lot of work? 
• Would you rather not have the whole neighborhood through your property? 
• Do you want to sell your house and move on without doing any work on it?
  

If your home has deferred maintenance, RESO HOMES can pay cash for your house. You’ll be dealing directly with the buyer so you save the money you would have spent on a realtor! 

While some maintenance issues might be immediately apparent, it’s also possible for the homeowner to not even know of certain maintenance problems without an updated appraisal or inspection. 

Luckily, RESO HOMES can help! You might be dealing with an issue of deferred maintenance if you or someone you know owns a property affected by the following common maintenance and repair issues:

• Deferred maintenance
• Foundation issues
• Code Violation
• Accumulation of Personal Belongings
• Zoning Issues/discrepancies
• Fire Damage
• Roof Repairs
• Clearing up judgments and outside liens

•  Cash
• As-Is, no repairs
• Close in as soon as 9 days
• $10,000 CASH advance

Deferred maintenance can look different for each property. At its core, deferred maintenance is when maintenance issues and repairs are pushed back, potentially causing the property to fall into disrepair and lose value. 

Deferred maintenance is usually done to avoid making large investments or because the homeowner doesn’t have the funds to complete these repairs. As we mentioned, deferred maintenance can be one large project, a few small projects, or a combination of both and is always unique to the property in question. 

Buyers will always expect to know what maintenance projects will be required for the property, and will often expect the seller to take care of these issues prior to the contract being finalized. An experienced buyer will typically complete an inspection of the property as a part of their offer terms because no one likes to be surprised by mold or broken appliances once they’ve moved in. Hiding any deferred maintenance is unethical and can lead to negative legal consequences down the line. 

Selling a home with deferred maintenance can be very difficult, and potential buyers will always prefer to move into a property that is move-in ready. If there is an excessive amount of deferred maintenance it’s also possible that the buyer will expect a severe discount on the home’s value to cover some of the deferred maintenance and repair expenses. 

As a seller, you should always seek to maximize your initial real estate investment. To optimize profits, consider expending capital to complete postponed maintenance issues prior to listing your home on the market to have full control over the home’s asking price. Keep in mind that it’s also possible for certain buyers to be unable to move forward on a “fixer-upper” home if their loan provider doesn’t allow it due to the home being unqualified. While a buyer might not be completely deterred by a home with deferred maintenance, it’s important for sellers to understand that their buyer pool might be limited or restricted due to certain loan providers’ qualification standards. 

This tends to be an issue for homes with larger deferred maintenance issues (ex: roof repair) rather than smaller more manageable issues (like peeled paint). 

Without being proactive, selling a home with deferred maintenance can be pretty complicated. Luckily, RESO Homes has extensive knowledge about how to expedite the sale of property, regardless of if the property is in pristine condition or has numerous deferred maintenance requirements. With our cash as-is offers for your home, you can have your property’s repairs and maintenance issues taken off your hands while we handle the real estate experience. Contact RESO Homes today to learn about our As-Is offers to make it so that deferred maintenance is finally something taken off your plate.