Selling a house that needs repairs in Memphis
Foundation movement, an old roof, outdated electrical or plumbing, or years of deferred maintenance make a traditional sale hard. Many buyers' lenders will not finance a house in poor condition, and inspection reports turn into long repair lists.
You have three real options: fix it and list it, list it as-is, or sell to a cash buyer. Our comparison page walks through the math.
Things to know in Tennessee
- Tennessee's Residential Property Disclosure Act requires most sellers to give buyers a disclosure statement, or in some cases a disclaimer statement. Selling as-is does not automatically remove that duty; ask an attorney which applies to you.
- Repair work you hire out over $3,000 in Shelby County requires a contractor with a Tennessee Home Improvement license (or a full contractor license at $25,000 and up).
- Clay soils in the Memphis area make foundation and drainage problems common, and they are among the repairs that scare financed buyers most.
What we can do
- We buy as-is. No repairs, no cleaning, no inspection repair requests.
- We price the repairs into our offer and will show you how we got the number.
Options besides selling to us
- If you have the money and time, fixing and listing usually nets the most.
- Listing as-is with an agent reaches investors and cash buyers too and can bring competing offers.
Want to see how a cash offer stacks up against listing? Run the comparison.
Sources
This guide is general information, not legal or financial advice. Rules change; confirm with an attorney or the agency named above.