What to Do with Unwanted Property

Unwanted property!? Who would have that? But you’d be surprised at how many people there are with property that is more like an anchor around their necks, slowing dragging them down and drowning them with costly issues.

The scenarios are endless:What to Do with Unwanted Property

Elderly folks that just can’t keep up with the maintenance of their home and need special assistance but don’t want to deal with a real estate agent nor do they have the time or energy to clean the property and stage it for general buyers.

Family members who inherited property that is run-down and needs more work and funds than the family can handle.

Married couples where one spouse has passed away and the monumental task of selling a house becomes too much to bear.

Divorced situations where a spouse cannot handle the overwhelming task of cleaning, staging and dealing with a home on the market for months on end.

Aging parents where the adult children need to take responsibility for the property left behind and they have their own jobs and concerns and simply don’t have the time to invest in selling the property.

And the list goes on and on. Every year I encounter a new situation because people are all different and the way we obtain property is unlimited.

Read More:  Comparing Cash and Financing Offers When Selling a Home

But do you really get enough for the house?

Let’s put this into perspective.

A person inherits a house upon the death of a family member. Upon inspection of the property, the roof is leaking, the foundation needs work and the owner was a slight hoarder with mountains of personal belongings in the garage and throughout the house.  The new owner has a real estate agent come through and offer suggestions for selling.

The house in its current condition will not sell. The new owner ( let’s call him Bob), will have to hire cleaners and rent a garage container to the tune of $2000 to just get the house cleared out. Bob must hire an inspector to verify any repairs needed, which costs $400 just for the inspection. Upon inspection, the foundation work will be $4000 and a new roof would be $5000.  There are many other issues as well to the tune of over $1000. If Bob can get all this done, the agent can list the house at $300,000 but will require a commission of 6% ($18,000). All in all, Bob has spent $30,400 just in getting the house sale ready.

Time on the marketThen the house sits on the market. Who knows how long the house will take to sell. Maybe Bob is paying a mortgage on the house during this time. Maybe Bob is paying utilities as well and the dollar signs just keep going.

Now, let’s look at this scenario from an investors perspective. I come on the scene and evaluate the situation and offer Bob$280,000 in cash on the spot for the house as-is. No cleaning, no repairs, no inspection, no real estate agent commission, no hassle and no waiting. Deal done.

If Bob had gone the agent route, he would have pocketed $269,600 but remember all that time, energy and hassle Bob had to do as well, possibly missing out on work and paying housing expenses until it sold.

Bob accepts my offer and pockets $280,000 in cash. Done. No waiting, no cleaning, and Bob can go back to his normal life quickly.

Read More: The Difference Between Selling to an Investor VS. with an Agent

Yes, investors will offer less, but when you look at all the benefits an investor offers, doesn’t it just make sense?

So, let’s talk. If you have unwanted property and need to sold fast for as much profit in your pocket as possible, give me a call. I work the entire Stockton and Sacremento areas.

Why Houses Don't Sell -

Peter Westbrook

Peter Westbrook is a local Cash Home Buyer / Real Estate Investor in Stockton, Sacramento and Modesto CA and Tulsa Oklahoma. He has written numerous real estate articles that have been published here and by other blog and news outlets. Peter has appeared on several local and national news reports regarding the state of the Stockton and Sacramento Real Estate Markets.

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