PDX Renovations

Tag: #webuyhouses

  • Why You Should Avoid Leaving Your Inherited House Vacant

    You may wish you had some time before you must deal with all the issues of a house you’ve inherited, including maintenance and repairs. More time to decide about selling or leasing; time to work out questions about the will and the estate. But vacant houses rapidly become problems not just for the owners, but for the community as well.

     

    • City governments, as well as the neighbors, look on houses sitting vacant and un-maintained for more than a few weeks as an escalating nuisance. Overgrown yards nurture destructive rodents that will bring trouble to neighboring properties. Empty houses attract vagrants and drug dealers, and even neighborhood children who stumble into mischief of injury.

     

    • Vacant houses can be stripped of everything from cabinets to plumbing by thieves. The damage can be so extensive that the structural integrity of the house is compromised.

     

    • Barely-maintained vacant homes quickly lose marketability for either sale or rental. No one wants to live in a home overrun with bugs, with gutters stuffed with debris and major work needed in the yard – not to mention interior damage. Poor conditions develop after only a short period of vacancy and escalate over time.

     

    • Insurance coverage issues can multiply as fast as the mice and squirrels taking residence in the attic. Insurance agencies are reluctant to cover vacant houses, knowing the risks of major claims only too well. When insurance can be obtained the premiums are frequently higher than usual.

     

    • When utilities have been switched off there are unique issues to switching them back on. The sudden surge of new water pressure can cause faucets to run and even find weak points in the plumbing. And what is a new rush of heating or air-conditioning blowing out of the vents? Have rodents been snacking on the wiring?

     

    • And finally, back to our first point about how local governments view vacant houses …  Some municipalities are diligent about community hygiene when it comes to structures. The city recognizes, even if the owner does not, that structural problems escalate and can create a hazard of both collapse and fire, as well as becoming a breeding nest for rodents, stray cats, undesirable plants and more. Condemnation and even destruction may follow. And the owner will get the bill for the bulldozers!

     

    Letting an inherited house sit vacant and poorly maintained allows all the negatives to grow. A fast sale is usually a better option for everyone concerned, for both short-term and long-term considerations.

     

     

    =======================================

    Question or Prompt for Response – open ended, relevant

    Have you had a house with an extended vacancy – what were the largest problems?

     

    Call to Action

    Get an all-cash offer on your rundown house within an hour of our viewing  – find out about PDX http://bit.ly/W4S55u #pdx

  • Inherited a House? Top Strategies for Selling Your House Fast

    Inherited a House? Top Strategies for Selling Your House Fast

    Selling Your House Fast

    So you’ve inherited a house, only to discover it isn’t the windfall it may have initially seemed. In fact, due to the mortgage and disrepair, you realize you need to sell this new burden as quickly as possible! 

    • If you are in Portland or Phoenix, I have designed my company, PDX Renovations, for situations just like yours – this is first on my list of fast-sell options.
      • We pay cash for houses as-is, properties like yours. We understand this property is beyond your expertise and cash resources.
      • Instead of you possibly becoming entangled in a drawn-out nightmare of a preparation and sales process you never asked for, to begin with, you can take the cash and move on.
      • We can succeed in this business because we are seasoned experts, have lower costs, and know how to avoid pitfalls. That’s why we can make cash offers to bail out others who find themselves with unfortunate house situations on their hands.
    • Hire an auction company to auction your property. This can be a complex process, and your house is not guaranteed to sell. Just a few points to know –
      • Back taxes owed transfer to the buyer. Bidders know this and will adjust their top price accordingly.
      • Mortgages are almost always contractually required to be settled on the sale of the property. If the auction proceeds are less than needed to settle the mortgage, you will still owe the balance – but not own the house. (And the lender will be very unhappy!)
      • Reserve price – You can set a price below which you will not sell, known as the “reserve price”, so you can avoid selling for less than required to settle a mortgage and other liens. But if you set a reserve and it isn’t met, your property may not sell.
    • Search online for reputable cash-house-buyers. I can’t begin giving you adequate advice on screen cash-house-buyers in one paragraph! But if you can find one, it can be a quick solution.
    • A reputable real-estate wholesaler can quickly arrange an as-is sale of a problem property for a reasonable fee. Wholesalers put together deals for a property in a short time (sometimes a week or two, sometimes only a few days) and take away a profit of usually of a few thousand, sometimes less than a real estate commission.
    • What about a do-it-yourself project – if you fixed and sold the house yourself, could you possibly realize more in the end? In all honesty, it is unlikely. There are high risks of unanticipated delays and unexpected costs that can run into the thousands. Flipping properties for fast sales is an arena fraught with peril for first-timers.

    There is a way out of an inherited house dilemma when you need to sell your house fast if you follow my recommendation to use reputable, seasoned professionals.  Before you make a final decision, contact us and get an honest assessment of your best options. 

  • 4 Pitfalls When You Need to Sell an Inherited House Fast

    My blog post “Top Strategies for Selling An Inherited House Fast” outlines the go-to options for a fast sale if you find an inherited house comes with burdens you don’t want to handle.  But don’t be in such a hurry that you charge right into disaster! Beware of these 4 pitfalls when you need to sell an inherited house fast.

    • Is the title clear?  The estate and/or yourself should pay the fee to do a title search. You must know what you are dealing with to be sure you make the right decisions about a sale.
      • Mortgages (first and second)
      • Property taxes
      • Liens
      • Inheritance divisions and/or squabbles
      • People living in the house, with or without a lease
    • Squattors – What, squattors??? You may be thinking “How could squattors be a problem? It was my late grandmother’s house with just a cousin living with her! Also my nephew moved in shortly after Grandma passed away.” Or perhaps there was an un-related caretaker who has not vacated? Anyone in occupancy, family or otherwise, with or without a lease or other agreement, almost certainly has legal rights that can compromise a sale.
    • Visible or hidden defects in the house can become high-cost issues when you try to sell. You may not have discovered them yet, but be assured a prospective buyer’s property inspection certainly will. Do your own due diligence on the property condition so you can make informed decisions.
    • You don’t know how to find reputable cash buyers to help you out of this mess, and you are frankly afraid of the auction process. Do some exploring with your local real estate professional’s organization to find recommendations for fix-and-flip buyers who will do an honest job.

    These are just 4 of the pitfalls that can cause the most grief when you need to sell an inherited house quickly. Get expert help and be informed so you can deal with the issues, not be run over by them!

    ===================================