In normal circumstances, selling house in Christchurch can’t be overly tiring, especially when you hire a real estate agent and an attorney to help seal the deal. But when it comes to what it’s loosely referred to as ‘Christchurch’s new gold,’ selling “as is, where is” houses can be a different experience. Some real estate agents will understandably refuse to list it, perhaps because of their reservations.
You can sell your uninsured house if it suffered the brunt of Christchurch earthquake and you will not raise funds enough to repair it. After all, selling uninsured, earthquake-damaged homes in Christchurch is can be stressful and long processes.
An uninsured house can be likened to that which has been deemed an absolute loss and thus written off. And with such an “as is where is” structure, you will surrender your salvage rights to whoever buys it.
Can it be hectic and overwhelming to sell uninsured and written off properties damaged by an earthquake in Christchurch?
Well, it can either be a smooth, hassle-free transaction or a traumatic experience, since everything depends on the condition of the structure and whether the price is reasonable. As a seller, you will, therefore, have to market the property and ensure no single detail about it is not misrepresented by its potential buyers. Also, one thing you ought to know right from the start is that you will not need anybody’s approval before selling it off.
Off the bat, it would be judicious to sell it as it is, regardless of whether it’s repairable or not. Damaged houses, especially the uninsured ones that succumbed to a devastating earthquake, can cost an arm and a leg to restore. Furthermore, the whole process too is time-consuming, not to mention the fact that you might not even manage to achieve the long-lost grandeur.
With that said, there’s no need to give it a second thought – sell it to a willing buyer at an agreed price. The following are some of the factors worth considering:
Just because it’s a shell of its former self, doesn’t mean it has no value anymore. Put a reasonable price on it so that you have a bargaining ground when buyers start knocking. You may ask a real estate agent or an accredited valuer to price it for you. After that, strive to sell it off at the right price!
In saying that, if your house was not repaired by EQC, and you received a Pay-out from your insurance company it maybe that all your property is worth is land value.
Depending on its structure, there will be some part of it that will still be valuable or attractive. Maybe the water heater is still working, the backyard is charming and beautiful, or its fence and the lawn never felt anything wrong. If the indoor area, especially the kitchen countertop, the walls and doors are still intact, make them your selling points as well so that they increase the value and salability of the house. Selling House In Christchurch can be made easy if you are selling to As Is house buyers.
It is always ideal that you let the buyer view the damaged home and assess the scope of damage. Someone who is eager in buying it will negotiate based on its overall level and will most probably come with a team of independent evaluators. So, always be around to let them in and offer guidance.
Usually, negotiations involving house sale are done in form of contracts. The buyer sees the house and later submits an offer if he/she is interested in it. You then make a counter-offer, again and again until you both agree. Don’t sign the contract when the offer is way lower than your original valuation.
It’s common for an ‘as is where is’ sale and purchase agreements contract to have fewer clauses than a reasonable deal. However, to ensure that you sign something that you understand, talk with your lawyer or advisor and go through it.
Everything follows the same course as a regular house, and the lawyer will seal off the deal and receive payments. However, be sure to check and ascertain that it’s indeed indicated that it was an uninsured, earthquake-damaged house. It’s equally important to ensure that you comply with all the laws and regulations regarding such transactions in your area. Selling House In Christchurch to an experience As Is house buyers in Christchurch can make your life easier.
