Physically Distressed Property Commonly referred to as a "fixer" property, a physically distressed property can range from a home with minor cosmetic damage to a home with a settling foundation or severe fire damage. We buy homes in any condition. While sellers may have different interpretations of what defines a fixer, the distinguishing characteristic is that a fixer home is not able to qualify for traditional bank financing. Whatever the condition of your home, Phoenix Redevelopment, Inc. is the solution when you are looking for a buyer.
Extreme Fixers: We routinely purchase homes that have been described as a "tear-down" or "just too far gone". The problem with homes that fall into this category is that there are very few buyers who have the desire, the resources, or the skills needed to tackle an extreme fixer and even fewer banks that will lend money for the purchase of an extreme fixer. The key is to find an all-cash, as-is buyer who doesn't need a bank to lend them money and who has the experience to confidently take on properties with severe structural problems. Phoenix Redevelopment, Inc. is that buyer. We have the experience and skills to purchase the roughest home, the financial strength to fund the purchase, and the confidence to look past the problems and see the potential. Believe us when we say that we've seen it all!
Moisture Damage or Soils Issues: Given Portland’s wet climate, we often see moisture related damage in the homes we review – damage that includes water entry, dryrot, and even settling foundations. Since lenders will almost never fund a loan on a property that has these types of problems, selling a home with these issues can be a challenge. Because we are cash buyers, we can purchase any home, in any condition. While moisture or soils issues can be challenging to address, we've corrected enough of these types of problems in the homes we have purchased to never let them stand between us and a successful purchase transaction.
Environmental Issues: Problems that lurk beneath the ground are never a good thing. Leaking oil tanks that release contaminants into nearby groundwater or collapsed sewer lines that cause basement backups are just a few of the subterranean horrors we've encountered in our years as home buyers. Environmental problems can be challenging and expensive, but we’ve put together a strong team of third-party engineers and contractors to help us address these issues. If you have a home with environmental issues, we can very quickly assess the scope of the problem and still purchase the home if the transaction makes economic sense.
Mold: The dangers associated with mold exposure have been well documented in recent years. As a result, mold frequently causes delays in real estate transactions as sellers and buyers work to navigate exhaustive testing and expensive remediation. At Phoenix Redevelopment, we take a very simple approach to mold…it is a challenging but fixable problem. As with other environmental concerns, we assess the scope of problem, develop a remedy, define the expected costs, and move forward with presenting our offer to you as planned.
Fire Damage: Fire damage presents all sorts of issues in a home sale transaction. Most home buyers can't see the potential in a home that has been heavily damaged by fire and most do not have the skills to assess and repair the home. Breathing new life into a fire damaged home requires a buyer who has experience dealing with structural and engineering issues, code and permit requirements, city inspections, and the unique requirements of fire and smoke damage remediation. We have restored numerous fire damaged homes and have the ability to see the potential in even the most damaged home.
Odors: Extreme odors can also create a substantial barrier to selling a home. Phoenix Redevelopment, Inc.’s twenty-five years of experience dealing with fixer homes has given us the experience and confidence to address pet and other odors cost-effectively and completely. We know exactly how to remedy every possible odor issue and we won't allow a bad smell to get in the way of a good renovation project that makes economic sense for us.
Deferred Maintenance: Many physically distressed homes are just homes that have fallen behind on repairs and improvements. In any real estate market, deferred maintenance can be a deal killer. Potential buyers start adding up the cost to upgrade every dated fixture, replace the inefficient furnace, re-carpet hundreds of square feet of floor space and replace a multilayered roof. At this point these buyers simply determine that the home is too much work and will take too much of their limited cash reserves, so they move on to the next house. At Phoenix Redevelopment, we don't get overwhelmed by a long list of needed upgrades. We can see the potential in your property and we know how to maximize its value. The result is that we can make the project work for us while still paying you a fair price for your home, just as it is right now.