Selling a Damaged House in Northern Colorado

How to Sell a Damaged House Fast and Stress Free

So, you have a house in Northern Colorado that's seen better days. Maybe it's water damage from that spring storm, a kitchen fire, the aftermath of a hailstorm, or just years of deferred maintenance catching up.

Whatever the reason, you're probably wondering: "How do I even begin to sell this, and can I do it without a massive headache?"

The short answer? Yes, and it’s easier than you may think.

As a real estate investor who specializes in these types of properties, it's not only possible but often quicker and less stressful to sell to an investor like us vs putting through the traditional way of selling. We're talking about getting your property sold in 2-3 weeks, not months of showings, repairs and negotiations.

Here's the breakdown of how to navigate selling a damaged house in Northern Colorado.

1. The Traditional Market Can be Tough

Your typical homebuyer is looking for move-in ready. They want granite countertops, new appliances, and a fresh coat of paint. They don't want to deal with an old roof, broken windows, foundation issues, or updating a kitchen. And because of interest rates being higher, it’s not only that they don’t want to, it’s that they simply don’t have that extra cash to fix these things after their down payment, closing costs, and mortgage. So for many of these homes that people try listing on the market, they just sit. Listing a damaged home on the MLS often leads to:

• Longer time on the market: As it can deter some buyers immediately. Again – the purchase price may be attractive, but they literally can’t afford a roof, HVAC, or new carpet.
• Low offers from traditional buyers: People who do have some extra cash are “hunting for a deal” so they are looking to get all they can – and they use the process to put you in a pickle with their timeline. They have all the power.
• Failed inspections: Once a buyer does come along, their inspector will find everything, and you could be back to square one or facing major concessions. This is a common “game” with homes on the market – they come in with a decent asking price and then ask for $50,000 off of the price because of what they found. What then?
• Agent commissions, closing costs, and holding costs: Holding costs slowly eek away at your profit, and if the market is shifting or going into a slower season, you miss your opportunity and things slow to a halt. Agent commissions are a big chunk – wouldn’t it be nice to not pay those?

While you can absolutely try to list it on the market, it takes a lot more time, work, negotiations, and the commission to boot. Many people who pass on our offer and list on the MLS end up with about the same amount of money in their pocket (but have the extra stress of the market.) Want to keep it simple? Keep reading…

2. Understand Your  "As-Is" Value

This is crucial. Your house, in its current state, has a value. It's often based on the after-repair value (ARV) minus the cost of repairs and an investor's profit margin. You don't need to get multiple contractor bids (although you certainly can, but that's our job and we have shopped around contractors for years and landed on that balance of quality and price already), but having a realistic expectations of that number will help.

Think about it this way: as a professional investor, we essentially take on all the risk, work of the renovation and final sale of the property – so we are doing the whole listing process and paying commissions on the sale. We are paying cash, closing quickly, and dealing with all the headaches you want to avoid. That convenience has a value (your time, your stress, your decision fatigue – we take that on for you!)

Going back to the costs of the actual repairs, we will be totally transparent with you at the time of an offer with what we think it will cost to fix the issues your home has. But here are some rules of thumb for updating a 2000sqft house in Colorado.

• Exterior paint: $3.50 a square foot
• Interior paint: $3.50 a square foot
• Roof replacement: $9,000-10,000
• Window replacement: $5-700 per window
• Flooring replacement: $4-5 a square foot
• HVAC replacement: $8-10,000
• New hot water heater: $1,600
• New garage door: $4-6,000 depending on size
• New bathroom: $7-10,000
• New kitchen: $10-15,000

As you can see, it does not take long for renovation costs to reach thousands and thousands of dollars.

3. Identify Your Buyers: Is a  Cash Investor Your Best Bet?

This is where Colorado Property Partners comes in. We are actively looking for properties that need work. Why? Because our business model is built around renovating and reselling or renting.

What we offer:

• Cash offers: No need for bank financing, appraisals, or lengthy loan approvals.
• Fast closings: Often in as little as 2-3 weeks, sometimes even faster. We can work around your timeline.
• "As-Is" purchases: You don't need to lift a finger for repairs or even clean out the property. We'll handle it all.
• No commissions or hidden fees: You save thousands by not paying agent commissions or closing costs. The number you see on our contract is literally your number unless it’s a special circumstance (aka you have your own Realtor involved and you’ve agreed to that, etc)
• Simplified process: We handle the paperwork and make it straightforward – sometimes even connecting you with probate attorneys we work with or other specialists that may be helpful to you.

We're not fazed by water damage, fire damage, hail damage, or properties that just haven't been updated in decades. To us, it's an opportunity, not a problem.

4.  The Process: Quick and Painless

1. You reach out: A quick call or online form to provide some basic details about your property and its condition.
2. We assess: I (or my team) will schedule a quick visit to the property. This isn't a stressful "showing"; it's just for us to understand the scope of work so we can formulate our offer.
3. Receive a cash offer: Usually within 24-48 hours of our visit, you'll have a no-obligation cash offer in hand.
4. You decide: Take your time to review the offer. No pressure.
5. Close on your timeline: If you accept, we'll set a closing date that works for you, often in just a couple of weeks but we’ve also agreed to push it out 2 months while someone’s daughter finished high school. The timing really is up to you. We handle all the closing costs, which are detailed out in the contract for you to see.

5. What About That "Damage"?

Don't worry about it! Whether it's:

• Water damage: From a burst pipe, leaky roof, or basement flood.
• Fire damage: From a small kitchen fire to more extensive structural issues.
• Weather damage: Hail, wind, snow-load issues.
• Deferred maintenance: A roof that's seen better decades, an ancient furnace, outdated electrical.
• Wood or siding rot: Wood, decking, or siding that is need to repair or replacement
• Peeling or faded paint: The Colorado sun can be hard on exterior paint, causing it to fade or peel.
• Damaged drywall: From holes to needing a fresh coat of paint.
• Damaged or stained flooring: Old flooring that has stains, pet odors, or damage.
• Outdated bathrooms or kitchens: Updating bathrooms and kitchens can be costly and time consuming.
• Trash or weeds: Trash, weeds, old cars, hot tubs, old buildings, doesn’t matter, we will buy it ‘as is!
• Age: Just a house that needs a face lift.
• 
  

...we've seen it all and bought it all. Your "problem" is our "project."

In Conclusion

If you're in Northern Colorado and own a damaged property that you need to sell quickly and without the hassle of repairs, listings, and traditional buyers, a cash investor is your most efficient solution. Colorado Property Partners can provide a fair cash offer, a fast closing, and you walk away from the property without spending another dime or minute on issues.

Ready to explore your options? Call Zack today at 970-400-1510, and let's see how quickly we can get that damaged house off your hands.