Challenges of selling different St. Louis property types

Your home sale may not involve a house.

So, you want to sell your property fast. But what if you’re trying to sell something other than a house?

When you start your selling journey, one important aspect is the type of property you own. The process can change when you want to sell different types of real estate. Let’s cover the common property types we buy in St. Louis, the challenges of selling each kind, and how We Buy Ugly Houses^® can be the solution to simplifying your selling experience.

Why does property type matter to your home sale?

Understanding the nuances of different property types is essential because each comes with its own set of challenges and considerations when you decide to sell. Whether you're dealing with a single-family home or a condominium, potential hurdles and buyer preferences can vary significantly. Being aware of these factors from the outset can help you navigate your home sale more effectively.

Common types of property we buy in St. Louis

Mortgage lenders classify homes by type, and so do we. The St. Louis property types we typically buy are:

• Single-family homes: The quintessential image that comes to mind when you think of selling a property is a single-family home.
• Duplex/triplex/quadplex: Built primarily before the mid-1980s, these multi-unit properties fall under the "single family" category, according to the Federal Housing Administration (FHA).
• Townhomes: Similarly to duplexes, townhomes share walls with neighboring units and usually lack a yard. Often referred to as "row houses," these properties face challenges akin to duplexes but with a smaller buyer pool due to their apartment-like arrangement.
• Condominiums: Condos are privately owned units within a building or a complex of other units. Condos come with a unique set of challenges, notably "special assessments." Special assessments are extra, unforeseen costs charged by the homeowners association (HOA) in certain circumstances.

What could complicate your property sale?

Local sellers in St. Louis encounter various hurdles depending on the property type. These issues may include dealing with complex HOA regulations, addressing maintenance issues specific to multi-unit properties, or dealing with the financial implications of special assessments in condominiums.

• Single-family homes: Financing for buyers is not always guaranteed, and some single-family homes may be part of an HOA, adding another layer of complexity that some buyers may want to avoid.
• Duplex/triplex/quadplex: These properties are more difficult to sell than single-family homes. On top of that, they are considered to be high-risk investments, and lenders are less likely to justify a loan. If you’re renting your property out, having occupying tenants could create another hurdle to your sale.
• Townhomes: When selling a townhome, you should expect to have a smaller pool of interested buyers. Additionally, the HOA must have approval for the buyer to qualify for a loan.
• Condominiums: The financial condition of your condo association could affect the outcome of a buyer’s loan application. You will need to disclose insurance and utility costs, as well as any potential lawsuits against your condo association. Mismanaged HOAs and deferred maintenance can lead to substantial out-of-pocket expenses through special assessments. Appraisers also separate condos into additional categories that can affect mortgage approval and financing costs.

Understanding and overcoming these hurdles are crucial for a successful sale.

How to sell a property in St. Louis to We Buy Ugly Houses^®

We Buy Ugly Houses^® is here to simplify the often-complicated process of selling your property in St. Louis. Whether you have a single-family home, a multi-unit property, or a condo, our process can give you a speedy, stress-free sale. Regardless of the kind of property you’re selling, our 3-step home-buying system works the same:

1. Get a consultation: After reaching out to us, one of our local property buyers in St. Louis will visit your property at your convenience. While we’re there, we will assess its condition and features, answering any questions you may have about our process.
2. Receive an offer: After our assessment, we can provide you with an offer, sometimes on the same day as our visit. Our offers are based on the property's current condition, the local market, and other factors.
3. Schedule a closing date: If you choose to accept our no-obligation offer, we handle the closing process. We can close fast and will do our best to find a closing date that suits your timeline.

It doesn’t matter if you want to sell a duplex or sell your condo—with us, your sale stays simple and streamlined.

Skip the hassles of your home sale with We Buy Ugly Houses^®.

When navigating the sale of various St. Louis property types seems like a maze, We Buy Ugly Houses is here to make it simple. Whether you’re selling a single-family home or you want to sell a condo quickly, your St. Louis property buyers can be your go-to solution for a stress-free selling experience. When you’re ready to avoid the typical hassles that come with selling, give us a call or reach out online.