Termite Infested Homes Are Purchased More Often Than You Think
Buying a home is rarely a quick purchase as buyers naturally want to avoid buying homes that have undergone damage. Searching the real estate market for a good deal on a house takes time. Real estate professionals may feel inclined to downplay any negative features associated with homes that they are trying to sell. For example, nobody wants to buy a house that is haunted by the ghosts of its former inhabitants. Unless, of course, the buyers happen to be fans of the paranormal. But one thing is for sure, a house that has been structurally damaged by termites is a bad investment. However, real estate professionals know that these termite damaged homes can be purchased relatively quickly in many cases.
Real estate developers may buy termite infested houses just to tear them down in order to build profitable businesses. But many termite infested homes are purchased by buyers who plan on living within them. Believe it or not, but there are many buyers who are interested in buying termite infested homes that could kindly be described as “fixer uppers”. These particular termite riddled homes don’t always sell for cheap either. For example, one termite infested home that is currently on the market is being sold for two hundred thousand dollars. This home is not cheap, and it is being marketed as an ideal renovation project for an “experienced builder”.
A five hundred and sixty square foot home with three bedrooms and a termite infestation will soon go to auction with bids starting at one hundred and ninety nine thousand dollars. The home was initially listed as having a cost of two hundred and eighty thousand dollars. But after a termite inspection revealed a termite infestation within the home, the price was reduced. The home’s owner has already stated that numerous interested buyers have contacted him with offers on the home. The owner was certain that advertising the termite haven as a great fixer upper would result in many generous offers among buyers. Surprisingly, he was not mistaken, as the termite infested home is arousing interest among buyers despite photos of the termite damage being pictured on the real estate professionals website.
If the cost of a termite infested home was cut in half, then would you consider buying it if you were looking for a permanent home?