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Not only will unmanageable property not earn you a cash flow, but it will also cost you money every single month. This can cause you to go in the red, destroy your credit, and create financial hardships that change your life in a negative way for years to come.
What are your unmanageable property reasons?
Inherited real estate
A loved one passed away, leaving you a house or rental property. They may have even left you a plot of empty land, or a run-down commercial property. You may have has grand ideas for the property, but realized after a little time that it is costing you way too much money to keep up. In the winter, it has to be winterized so the plumbing doesn’t crack. In the spring and summer, the grass must be cut every ten days or so.
Inherited property may seem like a treasure at first, and your loved one was only thinking of you, but sometimes it can be unmanageable. You can turn that property into cash by selling it.
Out of State Ownership
There are a couple of reasons why you may be an out of state homeowner. You may have moved / relocated for a new job or other life changes. Perhaps you saw an excellent investment opportunity across state lines. Unfortunately, sometimes you can’t sell before moving, or on occasion an investment deal turns into a nightmare.
One of the main reasons for selling as an out of state owner is that the costs can turn into a hassle. The property insurance, lawn maintenance, security system, and other expenses can be an alligator on your wallet.
The real estate may be a gut rehab. It may even be condemned and scheduled to be bulldozed. Ugly houses can be a neighborhood eyesore, and you are likely getting fines every single month that you hold onto the property.
Rehab properties are one of the biggest markets that we buy houses in. Most of the offers we make on real estate are remodels. Water damage, fire damage, electrical issues, boarded up windows…it is all attractive to us, even if it isn’t to your town.
Late on Tax Payments
We do not agree with property tax laws. You bought the property, so you should only have to pay taxes when you purchase it. Unfortunately, the government doesn’t feel the same way.
Chances are, if you are behind on taxes, you received a notice that you are in default. This means that the city is planning to collect by any means necessary. If you don’t pay up, they will auction off your home no matter what you may have paid for it, even for $500 in tax payments.
In delinquent tax situations, we love to make sellers a fair offer above the owed tax amount. It’s your equity, you should get something for it. The last thing you want to do is have it auctioned off. This will result in severe credit issues for years to come!
Delinquent Mortgage Payments
Like taxes, mortgage payments are never good to get behind on. Banks are very serious about performing assets. Once you get behind, they will start the Lis Pendens process of foreclosure also known as preforeclosure.
We specialize in saving homeowners credit while in pre-foreclosure. We maximize our offers so that you can start over with cash in your pocket.
No matter your situation with an unmanageable real estate property, we are here to help. There is no-obligation to receive a formal offer from us, so there are no excuses to hesitate. Take action now, and fill out the form on this page, or give us a call at 888-519-3721. We buy houses in all 50 states and the District of Columbia (Washington D.C.)
Learn more about selling us your home. Read the FSBO Quick Sell Guide!
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