At ZecLee Properties our top priority is to help people sell their house fast despite the current state of the real estate market. We help those who need to sell their house in Allentown, Bethlehem, Easton, and the Greater Lehigh Valley. ZecLee Properties is comprised of local real estate investors who use their expertise to help homeowners who need to sell. We set ourselves apart as consultants first, helping homeowners get the most for their house, and investors second, offering to buy their house as another option.
Today we are going to discuss the dangers of owning a vacant house, as well as options to take. Whether you just acquired a vacant house through an estate, moved and are unable to sell, or no longer have a tenant renting from you, there are a few dangers to be aware of.
Dangers of owning a vacant house
If a vacant home is not properly winterized or sealed up, many problems can arise from leaving a home vacant. A common problem is vandalism. Copper thieves may enter your vacant home and tear out the walls to remove the copper pipes in the home, or use your vacant home as a shelter for a time. Also, after longer periods of time, your house may start to deteriorate. The roof may begin to leak, weeds may begin to grow into the exterior of the vacant house which can bring moisture and mold into the home, and pipes may burst.
Holding Costs
While owning a vacant home, many costs arise outside of the potential of the vacant house being vandalized or deteriorating. While holding the property you will be still responsible to pay taxes, and home insurance. If you still have a mortgage on the property, you will still be paying that monthly. Holding on to the vacant house can become costly, very quickly!
Consider your Options and Take Action
With a vacant home you have a few options:
- Hold the property and incur all the costs, and potential risks.
- List the home with a realtor. If the house needs repairs, it may be difficult to find a bank that will finance a buyer to buy a house in disrepair.
- Sell the home to an investor. The investor can take the headache off your hands, invest money into repairs, and either rent the home or sell the newly rehabbed home to a new home buyer.
If the best option is to sell your home quickly, and stop any holding costs, and reduce the time of holding the property and incurring the potential risks, we may be able to help. At ZecLee Properties we work with over 150 local real estate investor to facilitate selling your house as quickly as possible.