Research shows that there is a vacant rate of 1.2% for the state of Texas. This is considered a negative thing since vacant homes do not benefit anyone.
If you own a vacant house, you may not know what to do with it. This is a surprisingly common problem that homeowners run into.
You may have bought a home elsewhere and never got around to selling your old home. If that is the case, this guide will help you figure out what to do with that house.
Keep reading to find out how to sell a vacant house.
In Today’s Article:
- Should You Sell a Vacant House?
- Tips for Selling a Vacant Home
- Is It Harder to Sell a Vacant Home?
- Vacant House: What Are the Options?
Should You Sell a Vacant House?
It is not uncommon for American families to own several different properties. This may include a vacant property where no one is currently residing.
Unfortunately for property owners, there are many downsides to owning a vacant home. For one thing, you aren’t there to keep an eye on it and make sure it doesn’t attract squatters.
Vacant homes also tend to get dilapidated as they aren’t being kept up. Things like pests and insects could even turn this into their own home since there’s no one living there.
Overall, it makes sense to sell a vacant house if you are not using it. You are still having to pay property taxes and a mortgage, depending on your situation.
It would be a better investment to either rent out the home or sell it entirely.
Tips for Selling a Vacant Home
If you want to sell a vacant home, the process isn’t too difficult. It may sound overwhelming, but it may be a bit easier than you think.
Before you start this process, you should read a few tips. This will help you to know what you need to prioritize and do as soon as possible.
Here are some examples to help you get started.
Check the Condition
The very first thing you need to do when selling a property is check the property itself. This is especially important if it is a vacant house that you haven’t seen for a while.
There are all kinds of things that can happen to a vacant house if it isn’t cared for. There may have been a storm that blew a branch onto the roof of the home.
Or someone may have broken in and done some damage to the property. There is no knowing what is going on until you actually see the property.
In a lot of instances, you may not live where the home for sale is located. If that is the case, you may not be able to show up and view the home for yourself.
You could hire someone to check out the home for you or ask a friend or a loved one. You could ask them to send you photos or even walk you through with a video.
This helps to give you perspective on the condition of the home. The condition will directly impact how much you can get for it and what repairs you may want to do.
If there is obvious damage to the home, you may need to get this fixed. It is also important to make sure all the utilities are still operational.
Secure the Home
The next step of this process is keeping the home safe until it sells. Vacant homes tend to attract a wide variety of robbers and squatters.
To avoid having squatters in the home, you should install security measures. This could be something as extreme as a full-blown security system or a simple deadlock.
These security features will help to keep the home from being accessed. If there is damage to the doors or windows, you should also get this fixed immediately.
Other Articles You Might Enjoy:
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Ask for Help
If you do not live where your vacant home is, there are some concerns with this. Even if you add security measures, there’s always a risk of someone accessing the home.
One way to counteract this is to ask others in the community for help. The obvious option is to call local law enforcement and alert them to the vacant home.
You can let them know that you are the owner and that you are in the process of selling it. Many local law enforcement offices will do drive-bys to check on vacant homes.
They can alert and contact you if they spot any damage or any signs of someone living inside. You could also alert neighbors near the home that it is vacant and will be sold.
They are always nearby and can let you know if they notice anything out of the ordinary.
Determine the Value
Another important measure to take is to figure out how much the home is worth. One way to do this is to hire a professional to do an examination of the home.
But there are also all kinds of online data and tools that do this for you. Online evaluation tools compile information to give you an appraisal.
This is a good way to find out how much value the home still has. You should also do research into the local real estate to see if homes are currently selling well.
Sometimes there are more buyers looking for homes, or they may be looking for specific types of homes.
Find the Right Option
You also need to do some research on how you can sell the home. Selling a home quickly is usually a top priority for a vacant house.
The house may have been sitting vacant for months or years, and you are ready to be rid of it. The standard way of selling a house is to hire a real estate agent.
They can help you list and show the home to find prospective buyers. The problem with this is that it isn’t always as simple as a vacant home.
This can also take a significant amount of time that you may not have. The other option is to go with a company that buys your home from you, like TX Cash Home Buyers.
The company gives you a cash offer and as little as a day that you can accept or reject. If you accept the offer, that company will take ownership of your home and pay you as soon as possible.
This completely illuminates the need for showings or staging the home for potential buyers. This is a good option for all kinds of instances, but it is especially ideal for vacant homes.
You may even be able to do this even if the home has sustained some damage. This can save you the investment of having to put money back into the home to make repairs.
Is It Harder to Sell a Vacant Home?
Selling a property is quite a task, no matter how you look at it. Homeowners may feel especially overwhelmed if they are trying to sell a vacant house.
If you do not live in the area anymore, this can be quite difficult. The reality is that selling a vacant house the traditional way is going to be quite complex.
You have to find a real estate agent who is willing to take this project on and assist you. Because the home is empty, repairs may need to be done and it may need staging.
The traditional way of selling a home is also quite a lengthy one. Depending on the real estate market, the home may sell within a few months, or it could take much longer.
You also have to sort through all the offers you receive to find the best one. These are things that you may not have time for if you have other properties to manage.
If you go the easy route by choosing a company that buys your home, it is much simpler. That is why more and more people are leaning towards these companies rather than traditional options.
Vacant House: What Are the Options?
If you own a vacant house, you may be interested in selling it. This is the best option if you do not plan on living in it or renting it out anytime soon.
You will need to make sure the home is still in good condition and hasn’t been broken into. You need to find the best selling option that is suitable for your situation and the price you want.
A company is the better option in this instance as it cuts out the need to list the home.
Are you interested in selling a vacant house in the Houston, TX, area? Contact us today at TX Cash Home Buyers to get an offer.
About The Author
Lisa is a dedicated real estate professional specializing in assisting homeowners with burdensome houses and complex situations. Lisa and her team provide valuable guidance and solutions to homeowners navigating challenging real estate circumstances. Her commitment to delivering efficient and professional assistance makes her a trusted partner in helping homeowners find optimal resolutions for their property challenges.