The term “condemned property” tends to conjure images of an old, dilapidated building that sits untouched. While it may seem like condemned properties can’t be sold, the truth is that most of the time they are for sale. If you’d like to sell your condemned property, there are a few essential steps that you need to follow.
- Contact the Local Building Department.
- Consult the Assessor’s Office.
- Have a Title Search Done.
- Negotiate the Price.
Contact Your Local Building Department
Before a condemned property can be sold, the potential buyer must contact the local building office. This ensures that all violations that are associated with the property such as mold infestation, structural problems, etc. are fully disclosed to potential buyers. They will then provide you with a printed report detailing all of this.
Consult the Assessor’s Office
After you have visited your local building office, you must then contact the Assessor’s Office. This is so that any unpaid taxes can be disclosed to potential buyers. This is important because if back taxes are owed, these will have to be paid by either you, or whoever wishes to purchase the condemned property.
Request a Title Search
After contacting the local building office and the Assessor’s Office, it is then essential to have a title search done. Generally, if a house is condemned, it is because someone doesn’t have the means to fix it. A title search will provide you with information on loans you might owe on for the property, judgments, and tax liens.
Negotiate the Price with the Buyer
The key to negotiating the best price when selling a condemned property is to talk it out with the buyers. This may seem somewhat obvious but is often overlooked. By talking to them one on one, instead of their buyer’s agent, you will be able to stay closer to the original listing price.
Once these steps have been followed and a purchase agreement has been signed by both the owner of the condemned property and the interested buyer, the condemned property can then be sold to the buyer so long as the city approves the purchase.
If after reading this article, you’re unsure if you want to deal with the process of selling a condemned property, consider a St. Louis as-is home buyer. These professionals work quickly to provide consultations, work with your schedule, and offer competitive cash offers in as little as a day. A local St. Louis favorite, Evervest Home Buyers has bought more than 700 homes since 1996. They’re dedicated to helping homeowners skip the hassle of selling their home.