Coming into the ownership of an abandoned house can happen in several ways. You could have inherited a house that was in a poor state and didn’t do anything about it for a while. You could also own homes that you either aren’t motivated or lack the financial ability to maintain.
Similarly, you could own a home that saw significant damage from renters or weather elements, and you just let it be. If you’re finally at a point where you’re looking to sell, it might be a bit of work to pull off. So, how do you go about selling an abandoned house?
What Is an Abandoned House?
An abandoned house has been unoccupied and/or neglected for various reasons. In most or all cases, it is no longer occupied by the owner and has begun to see damage resulting from non-maintenance. Abandoning a home can happen for reasons ranging from financial difficulty to high property taxes or the nature of the neighborhood (crime rate, for instance).
Lack of funds to make vital repairs or foreclosure are some other reasons for abandonment. Similarly, there are less complicated reasons, like an inherited home with an heir who hasn’t bothered with selling or renting out the property.
What Are Some Issues Associated With Abandoned Houses?
Abandoned houses can pose challenges in certain ways due to their very existence. Here are some of the challenges.
Potential Health Issues
Abandoned houses can pose health hazards to people living around the property. This is because the abandoned nature of the house provides an avenue for rodent infestations and mold growth. Similarly, non-maintenance could result in exposure to hazardous materials, carbon monoxide, gas leaks, asbestos disintegration, and injury from the collapse of a part of the weak structure.
Stagnant water can breed mosquitoes that transmit Malaria and West Nile Virus, while vectors such as mice, rats, and raccoons can heighten the chances of spreading parasites and rabies. Apart from physical health, it could take a toll on the mental health of neighbors with its unpleasant appearance and potential safety issues.
Fire Hazard
Abandoned houses pose a major fire hazard. Every year in the US, there are over 12,000 fires in vacant structures. 10% of these fires are intentional, and in vacant structures, it goes up to 50%.
Aside from arson, fires have other causative agents, such as faulty wiring and gas leaks (if the utilities haven’t been shut off). This poses a major safety risk to people living close to the house.
Increased Crime Rate
Abandoned houses can be used for nefarious activities, making the neighborhood unsafe. They have been linked to increased crime rates since they can easily be accessed by just about anybody.
Impacts on Neighborhood Property Values
Abandoned houses are never a good look in any neighborhood. They cast a shadow on the neighborhood’s aesthetic appeal and could reduce the value of other properties. Similarly, it could also impact selling, with some buyers avoiding houses close to abandoned houses.
However, dealing with abandoned properties comes with its own set of challenges. Squatters can pose legal issues, as their presence complicates the ownership and sale process.
Ongoing Homeownership Payments
The fact that a property isn’t occupied doesn’t imply that the costs of homeownership associated with that property have ceased. Property taxes, HOA fees, and utility payments would have to keep being paid.
Similarly, some areas have certain requirements for an abandoned house, such as no accumulating waste, broken fences or trees, stagnant water, and the house windows and doors must be boarded up. Not adhering to these could violate some city codes, resulting in fines. These are some of the other costs that you would be incurring.
Unpaid taxes and fines could result in the property being repossessed by the government after they’ve accumulated for a while.
What Are Your Options for Selling?
When you want to sell, there are two main options to explore:
- Selling with a real estate agent
- Selling as-is
Selling With a Real Estate Agent
This would require significant investment in the house before listing. Depending on how long the property was abandoned and the extent of the damage, you would be spending thousands of dollars to restore the property to good condition.
You would likely have to replace the HVAC system, floorings, roof, water heater, and the house’s appliances. If the property has been vandalized at any point, this implies even more expenses to fix the damage.
Overall, it’s not a practical option in this case.
Selling As-Is
There are several reasons why you may opt to skip repairs and simply sell your abandoned house in the very condition that it is in. This could range from financial constraints to limited time or simply not wanting all the hassle that comes with repairs.
In such a situation, your best bet is to sell as-is. Selling as-is refers to selling your home in the very condition that it is in, irrespective of how extensive the damage is or the amount of repairs required.
When you choose to sell as-is, you no longer have to worry about those. Rather, it’s now the buyer’s responsibility. This is an option that gets you out of home ownership quickly and allows you to access the cash value of your home fast.
Who’s going to buy? We can help out with that! We buy houses that need serious repairs or are in various other conditions. At dsouzahomebuyers, we can provide you with a cash offer for your house in no time!
You don’t have to deal with any of this hassle. No need for repairs or renovations!
Fill out this form to get the process started, and we could be closing in as few as 7 days!
Remember, no fees, no commissions, no closing costs!
If you have any other questions, definitely call us at (925) 503 8193.
Final Thoughts
Selling an abandoned house fast is economical and good for the neighborhood it is in. However, it shouldn’t have to cost you a lot of money to make the sale happen. Consider selling as-is to a local cash buyer and wrapping up the sale fast.
