Owning a vacant home is like paying for a car you don’t use. It sits there, collecting dust and breaking down, and you drain your wallet to make sure it stays in good shape without having any use for it. If you’re in this situation, it may be time to get rid of the vacant property through a home sale. Let Quick Fix Real Estate help you out. We offer a fast and easy solution for those who want to cash for vacant homes in Virginia or North Carolina. Keep reading to learn more.
The Problem With Vacant Properties
Having a second home can seem like a blessing at first — a place to spend your free time, store things, or potentially earn rental income. However, issues will soon emerge as you learn that managing a second home requires a similar level of responsibility as managing your primary residence. Here are a few issues you might encounter.
Property Taxes
Even if a house has no occupants, the owner is responsible for paying property taxes. The rates in North Carolina and Virginia are 0.73% and 0.76% of the property’s value, respectively. If left unpaid, your property could receive liens or even be foreclosed.
Nuisance Fees and Code Violations
Vacant properties are more likely to fall into disrepair, which can lead to city-imposed nuisance fees for things like overgrown grass, broken windows, graffiti, or neglected exterior maintenance. Municipalities may also fine owners for violating local property upkeep codes.
Increased Risk of Vandalism or Theft
Without anyone monitoring your property for long periods, vandals and thieves are more likely to target the house. They can take anything, from copper wiring to appliances.
Higher Insurance Premiums
Given the lack of occupants, insurance vendors may consider vacant homes high-risk and impose higher premiums. Some may refuse to cover the property outright.
Diminishing Property Value
Lack of upkeep and high risk for vandalism can result in declining property values. Plus, a visibly ignored house can negatively affect the values of other properties within the neighborhood.
Liability Concerns
Unoccupied properties in various states of disrepair can present hazards to trespassers, curious neighbors, and contractors. These injured parties could sue the owner, which may lead to you needing to pay $31,000, on average, as compensation for the damages.
Pest Infestations
Another issue you may face is pest infestation. The lack of occupants and regular upkeep makes vacant homes a haven for rats, termites, and insects.
Mold and Moisture Problems
Apart from pests, moisture can also spread unchecked in a vacant property. This issue increases the chances of mold growth, making the interiors unhealthy.
What’s a Quick Way for Someone To Buy My Vacant Home?
A traditional sale is the first option many homeowners choose to get rid of their vacant real estate. However, buyers may be hesitant since the property hasn’t been occupied for a long period, leading to few offers. The house then stays longer on the market, increasing holding costs.
Engaging with a cash buyer is one solution that guarantees a fast sale. You simply need to send details about your property to companies like Quick Fix Real Estate. Then, we can provide a cash offer and close the transaction in as quickly as seven days. No need to repair, pay tax liens, or address legal issues — we buy the property in any condition.
Reasons To Sell a Property Quickly for Cash
Realizing the financial burden of a vacant home doesn’t have to be the sole reason you should engage with a cash buyer. We also help other property owners if they’re facing the following circumstances.
- Downsizing or Upgrading: Whether you’re considering a smaller home or upgrading your current one, a property sale provides funds to help with the endeavor.
- Divorce: We can make this turbulent time easier, especially with asset division. The funds can also be used to pay for legal fees during the divorce proceeding.
- Foreclosure: Selling your house before the auction date can help you minimize the damage to your credit score.
- Bankruptcy: Use the proceeds from the real estate sale to cover your outstanding debts and relieve yourself of the financial burden.
- Job Relocation: If you’re moving to another state or city, selling your current property gives you extra resources for the relocation.
- Tax Issues: Pay tax liens or back taxes with the proceeds from your vacant property.
- Inherited Properties: An inherited home may hold too many painful memories or start conflicts between relatives. Selling the asset may help you avoid these issues.
- Health Problems: Nowadays, medical costs have become very expensive. Selling a property is an option if you need resources for a life-saving treatment.
We Buy Homes in As-Is Condition
Quick Fix Real Estate helps you avoid the need for repairs and cleanups since we buy homes as-is. Even if your real estate asset has the following issues, count on us to proceed with the transaction.
- Code Violations: Instead of shelling out more money to address code violations, sell the property to us and let go of the burden.
- Hoarder Homes: We will take care of the accumulated stuff so you can move on to a clutter-free home.
- Repairs: Unlike traditional real estate sales, our team won’t require you to make extensive repairs. We buy your house regardless of its condition.
- Damage: Whether your home has water, termite, or storm damage, you can count on us to provide a reasonable cash offer.
- Bad Rental Property Tenants: Having unruly tenants can be stressful for the landlord. We can offer some relief by buying the rental property, even if it has existing tenants.
- Rundown: Even if your home is in a rundown state and may be condemned soon, we will still conduct a thorough assessment and provide a reasonable cash offer.
- Fixer-Uppers: Some houses may show potential, but you don’t have the funds for the needed renovations. Our team can take it from your hands and transform it to its full potential.
- Trash: There’s no need for cleanup, which could expose your family to health hazards. We will purchase the property even if it’s filled with garbage.
- Death Estates: If managing a property left by a deceased loved one becomes too burdensome, sell it to us and free yourself from the responsibility.
- Dirty: We buy homes even if some sections or rooms are filthy.
Find Out How Much Your House Is Worth With a Free Offer
Ready to sell your vacant real estate? First, you’d want to know its current value to help with decision-making. Thankfully, we can help you determine how much your property is worth with our cash offer. We conduct a thorough assessment to determine the right price, and then we will send the information to you with no obligation. Get your free cash offer now!
Sell the Home to Us for Cash Quickly
With our streamlined process, the entire transaction can be finished within seven days. After accepting the cash offer, we let you set the closing date so you’re fully in control of the transaction. Engaging with a cash buyer becomes the best course of action for property owners who can’t afford delays or want to avoid working with realtors.
Read Our Reviews and Learn How Our Buying Process Works
We’ve gained many satisfied clients over the years thanks to our simple cash-buying process. Read how we purchase properties to learn why we remain a trusted home buying company in Roanoke, Gastonia North Carolina and Virginia.
