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Vacant house need to sell fast
Do you have a vacant home in Texas you want to sell and turn into profit?
By definition, you have a vacant home when there’s a property (house) of yours that isn’t being used in any way or form. You might have it as a backup in case you’re in the area/town and you need somewhere to rest for the given time. Or, the house might be as a result of lack of tenants, relocation, previous trauma, divorce, and sickness. That said, let us treat the latter precursors in-depth.
Why Your House May be Vacant
Lack of tenants
Your house might be vacant due to lack of tenants if you are or were a landlord. Having no tenants might be the result of the state of the house or it might be that you are a tired landlord and your tenants are too stressful to deal with. So, you are left with a property that lacks inhabitants.
Due to a job transfer or maybe you bought a new home due to space inadequacy, you are moving to another location. As a result, you have to sell your house since it helps recover some of the funds spent. Also, since you’re not interested in being a landlord, you have very few choices left to make. So, you’re essentially left with an empty house that you need to deal with.
Trauma can be explained as a highly distressing or disturbing experience that’s caused by situations or conditions surrounding an individual. In our own words, trauma occurs due to hurtful past experiences. Those experiences as we see them, hold a lot of saddening memories that are better left buried. Now, with those laid down points, it’s not surprising that there’s a vacant home. As a matter of fact, nobody is impervious to traumatic experiences or situations.
This could be coupled with the previous reason if it was named “Past experiences”. Still, divorce is a unique situation that calls for special attention. When couples divorce, one of the areas that need management is the property. Your house especially is an object that you’ll have to sell lest it becomes vacant. After you sell it, the funds generated will be distributed. Nonetheless, there’s always a time period that there will be no seller and in that period, the house might be left for a long time. All the while, as hinted above, it will be empty.
There is the sickness that requires you to move from your house especially if they need round-the-clock monitoring. This sometimes encourages the previous inhabitants to leave for a better house. This is for the sake of a more suitable environment that might be influenced by family members. Summarily, the individual who is sick will leave his or her home to be with a family member who can provide care. In the process, the individual will be left with a vacant home.
Disadvantages of a vacant home
A vacant home is not an investment/investment program that you’re going through. As a matter of fact, vacant homes should not be kept and instead be handled. Although, if you like the idea of a property to live in when you’re in the area, then you could very well manage a vacant home. Regardless, having a vacant home still has some advantages that’ll be explained below:
- Maintenance of the house
Regardless if you’re living in the house or not, proper maintenance of the house is needed or else, it will incur damages. And when there are damages, the fees you’ll spend on fixing the house up will be quite high. Also, a vacant home (in terms of maintenance) requires you to still pay tax. The taxing government doesn’t care if you live there or not. All they care about is that you have your name on the property and they make use of that to collect tax on the property.
Crime, vandalism or unwanted intruders are an issue that is prevalent (slightly or otherwise) with vacant homes. If you leave your home empty or even improperly managed, you might come home one day to see signs of pests and animals. Also, your home might breed crime in a way that you’ll have certain objects in the house stolen. This con is more particular when your house is not the only vacant home in the area. There will be nobody monitoring your place for you and despite your pre-existing security systems stopping animals. It will be too weak for humans.
- Insurance becomes moot
When you have a vacant home, all it takes is for it to be vacant for a month or more. Then, your homeowner’s insurance will not cover all the damages to your property during that period. Homeowners insurances are a type of property insurance that covers damages or losses your home and the assets present in it. So, when your home is vacant for the given time above, they’ll stop covering any losses on your property. This makes vacant homes a bad investment that should be avoided. Although, adding a vacancy endorsement to your policy might reverse this disadvantage. Still, the added fees could be avoided.
Solutions to Vacant Homes
Below are the solutions that you can make use of if you have a vacant home:
- Become a landlord
If to sell your house that’s vacant isn’t appealing, you can become a landlord. Being a landlord means you are the owner of a property or otherwise known as a house, apartment or real estate. So, you lease the real estate to an individual called a tenant and you get income based on the duration of their stay on your property. Still, despite it looking this simple, it isn’t. And for that very reason, we’ve compiled some tips if you’re starting out as a new landlord.
- It’s good if you know the landlord-tenant law
Knowing the landlord-tenant law ensures that both the landlord and tenant will be protected. Also, this provides limitations which will help avoid unwanted complications. In other words, you need to know about notice given to tenants before they must leave your property, access to the property, security deposits, and anti-discrimination laws. Essentially, know all laws pertaining to landlord-tenant relationship.
- Live near your property
Always live near your property—especially if you’re a new landlord. If you live near your tenants, you’ll be able to monitor your house properly by visiting it, list it for rental if a tenant leaves, and oversee repairs if needed. Nonetheless, by using the former, you would have given your tenants a scheduled check-up time.
- Evaluate potential tenants
Properly checking your potential tenants ensures that you’ll get suitable candidates to rent your property. This is because some clients are problematic since they’ll violate any and all landlord-tenant law that exists. In the long run, other potential tenants might be turned off by the behavior/surrounding influenced by the problematic client. So, you can do a background and credit check to eliminate/proof candidates vying for your property.
- Check up on the property regularly
Make sure you check the state of your property regularly lest tenants mismanage it for you. In regards to that, you include regular inspection of the property in your lease contract. You can choose to come every 2 months for inspection or you can choose 5 months. Overall, just make sure you inspect your house properly.
- Due payments on time
You can play with your tenants, chat, and joke with them but at the same time, you should always ensure due payment on their part. This is especially true if you are a new landlord. Tenants will attempt to owe months of rents at times and prevention, in this case, is better than cure. You should strengthen the rule that payment should be made at the stipulated time. This is because it will help your management of the leased property.
Regardless of the information above though, being a landlord as hinted is stressful. And a solution to this stress is to hire an agent that’ll get a commission in the form of a cut of the payment made by the tenants. Although, you should note that an agent can never manage your property like you do. This might be due to dishonesty or simply be based on the value placed on the property (you have more to lose).
This has been hinted throughout the above information. So, why not include it since it’s a solution in itself. On that front, provided you do not want to sell your house, the vacant house in question can be a secondary home if you’re willing. You can sleep in it when you’re around the area. Still, for this to work, you must be at a good distance from the house and you must be prepared to pay different fees. You have to pay for maintenance, the insurance, and tax. Also, upgrading the security system of the house to prevent vandalism or crime is just one more area that’ll consume funds. In conclusion, the disadvantages of keeping a vacant home and even more will have to be managed or handled.
Sell your house
There are two major ways by which you can sell your vacant house (property). You can sell through a real estate agent (a realtor) or you can sell to a real estate investor. As you’ll mostly notice, selling a house through a real estate agent is different from selling to a real estate investor.
A real estate agent will find different buyers for you and all you have to do is pick the highest bidder. In other words, you sell your vacant home to the individual who offers the highest pay. Still, the one disadvantage they have is that they’ll get a commission payment when the deal is made. On the other hand, a property investor is the highest bidder you’ll have and you don’t have to wait for any bidder. For the latter, waiting means more taxes and that’s what you’ll face if you wait for the highest bidder (in the case of realtors).
So, if your choice is to sell through a real estate or property investor, kindly contact Housejiffy today. Let’s us help you with you “vacant house need to sell fast” attitude. We will solve your property stress regardless of the state of your house as long as it’s in Texas. Alternatively, regardless if your house is a result of divorce, relocation, bad condition (using realtors might need you to do some repairs), late payments, etcetera. Summarily, just know that we will buy your vacant homes if you’re willing to sell it.
Vacant house need to sell fast, no worries we can help.
Ok if you haven’t yet contacted us, save yourself the headache and do so immediately. We offer free advice and solutions for your current situation. So if you have a vacant house need to sell fast situation, we are help to help for FREE.
We also help regarding:
Foreclosure – Divorce – Vacant Homes – Illness – Heirship – Death – Behind on Payments – Out of state owner – Estate Sale – Loss of employment or job transfer – Tax issues – Or just want to sell fast!