Is It Possible to Sell a Hoarder House’s Fast With Little Cost?
Selling a house is hard enough. However, selling a house owned by a hoarder is going to be even more complicated. Because, for one, no amount of staging is going to make the house look more appealing, and renovating it will cost a lot of money.
Of course, it’s possible to put the property up on the market, but who’s going to buy it?
Most homeowners are looking to buy a place that they can live in right away – not a project that they’ll have to turn around themselves.
So, does that mean that the answer to the hoarder’s question, “it is impossible to sell my house?”, is a yes? Definitely not! Because, there are ways to sell a house that was owned by a hoarder without losing all of its value. How? By selling to a real estate investor, or a cash buyer.
The process to selling to a cash buyer is easy. You call them to let them know that you have a house for sale. They come in, inspect it, and then make you an offer. If it’s good, you accept the offer and get paid cash upfront for your property upon closing.
It is that simple.
Is It Safe to Sell a House to a Cash Buyer?
There are definitely some risks to selling to a cash buyer, especially if we’re talking about cash buyers who don’t have a stellar reputation.
But, that’s the thing – there are only problems if you sell to a bad investor or company. Otherwise, it’s all good. Experienced and ethical investors will not back out at the last minute and completely drop you out.
They’ll stick to their contract and buy the house as promised, which is important for hoarders because of the possible penalties that they may face if they don’t sell their house at a given date or time, or because they can no longer afford to pay for the house.
If you’re a hoarder and you’re worried that you’re about to lose your house for next to nothing soon, don’t be.
You can gain back your independence and start working on improving your life by selling your houses quickly to a cash buyer like Cash Buyer New Jersey.
We buy houses NJ for cash without any reservations. As long as it’s a property, we’ll make an offer, and we’ll buy the property as soon as the other party agrees to sell it to us. It is that simple.
How to Avoid Selling Your Inherited House to a Bad Cash Buyer
Selling a home is a big enough of a transaction that people should know not to trust anyone easily with the process, but you’d be surprised.
In home sales, especially when it comes to inherited properties, there are many predatory companies who are on the lookout for the next big payday – a home seller who would stop at nothing to get a property off of their hands, even if that means getting themselves scammed out of a good deal because they couldn’t stay objective.
Remember, home sales attract all sorts of people, including untrustworthy professionals who will do everything to trick you into signing a deal that favours them and leaves you dry.
How does that happen?
Well, for starters, they smooth talk you into thinking that your home is prime for selling and promise you that they’ll get it off the market fast. You, being someone who wants the property off of your hands as soon as possible, believe them, because, why not?
Once the two of you have talked things out, they give you a contract to help formalize the process. You take a look at the contrast first and after seeing that it checks out, you sign. But, no more than a few days later, you find out that something happened to the documents that you initially signed and they ask you to sign again, and then again, and then again, with each signing meant to catch you off your guard until you finally sign a contrast without looking over it that clearly has THEIR best interests in mind.
What happens next is a horror story you don’t want to find yourself being the main character of: you end up losing your inherited property for basically nothing while still being left to pay for the mortgage balance.
How to Sell Your House Fast Using a Trusted Cash Buying Company
If you want to avoid selling your house to professional scam artists disguising themselves as cash buying companies, below are a couple of tips to keep in mind.
1. Watch out for anything that seems suspicious
This may sound obvious, but too many people fall for scam companies.
One of the most common contracts that these companies will have you sign is having the ownership of the property transferred to them while leaving the mortgage payments for you to worry about.
It’s also fairly common for these companies to try and get you to pay upfront for something. It may not be large, and it the bill may be small, but don’t do it. The thing is, when you’re selling a property, you very rarely have to pay for anything upfront if at all.
During a traditional sales process, you don’t pay for fees before the process begins – you do it during or after.
If the cash buyer asks you to pay for something upfront, avoid them like the plague.
2. Do a background check on the cash buyer
Check if the cash buyer has a legitimate address with an office, or if they’re registered in the state where you live in.
If both checks out, try to see if you can find out how long they have been in business.
A legitimate cash buyer will yield positive answers all three of these questions if and when you do a background search on them. If not, then you may want to pass.
3. Try to determine if they’re worth trusting or not
Gone are the days when you’ll have a hard time doing research on any local company. These days, all you have to do is to go online.
Legitimate companies don’t just have offices, or are registered, or have been in the business for too long, they’re also everywhere online.
Given how tight the competition is in the real estate market today, cash buyers who are out for your best interests will be all over social media and the internet trying to find people who would like to sell their properties fast.
If you can’t find any proof of them being a professionally-run and established business online, then that’s a huge red flag.
Thankfully, here are at Cash Buyers New Jersey, we buy houses NJ cash through a legitimate process.
We are the legal answer to the question, “how do I sell my house?”, and the best part is that we’re always after your best interests. We won’t push you into taking a deal that we know isn’t suited for your preferences.
All we do is send you an offer, lay it out as it is, and if you sign it, that’s it – your inherited house is as good as ours and the cash is as good as yours already.
House Mold Damage – Is It Covered by Homeowners Insurance?
Mold isn’t just ugly and unsightly – it’s also unhealthy.
The worst part about this is that any damage resulting from mold very rarely, if at all, is covered by your homeowners insurance policy, which is a huge problem.
The purpose of any insurance is to protect your investments. In the case of homeowners insurance, it is protecting your home. The problem here is that, while your house might be protected from disaster, mold is a silent creeper that’s just waiting to damage your house and cause its value to come crashing down.
So, what can you do about it?
1. Get a separate flood insurance policy
What does flood have to do with mold? Well, for starters, everything.
Flood are one of the main reasons why house mold damage happens, and the worst part is, it’s quite unpredictable. Even though it’s a no-brainer to take out a separate flood insurance policy if you live in a designated flood zone, it’s even more practical to take one out if you don’t live in one. Why? Because it’ll be cheap, and when the time comes that you’re going to need it, you’re going to have to spend your own money to repair any damage caused by mold resulting from floods.
2. Make sure that your house is well maintained
Even if you take out a separate flood insurance policy to cover mold damage resulting from floods, it still doesn’t cover your house from any damage resulting from maintenance, or the lack thereof.
Maintenance issues are no joke, especially when it comes to mold.
This is why you have to stay on top of your home’s maintenance. This includes making sure that there are no dripping pipes, or faulty appliances that are leaking, as well as overflowing sinks that can cause flooding or water damage that eventually leads to mold growth anywhere around your house.
Investing in mold-resistant drywall is also a good idea, both in areas that get wet all of the time and areas that typically don’t.
3. Have the mold removed as soon as possible
Minor mold damage is easy to fix. You can even fix it on your own, but that’s not something we recommend on the account that you could end up making the problem worse by spreading mold into other areas of your home, or getting sick from being exposed to the mold without proper gear on.
Thankfully, mold removal services don’t really cost as much as you think, especially if the damage is minimal.
If you’re planning on selling your house anytime soon, then it might be a good idea to call in the professionals to check for molds anyway, and if they see it, have mold removed and any damages repaired to prevent things from getting worse than they currently are.
You might not think that your house has mold, but it probably has.
Areas like crawl spaces, air ducts, attics, and the gap between walls are notorious for mold growth and the only way to know if there’s mold there is if you have them checked and have the mold removed if it’s found.
Selling a House With Mold Damage – Is It Possible?
Mold damage won’t just cause structural damage, it’s dangerous to your health.
Infants, toddlers, and children alike, as well as the elderly and those with respiratory issues, plus pregnant women, are susceptible to health problems caused by mold exposure.
Left alone, mold can cause a lot of health complications. Even worse, the effects of mold can last for months if not years, especially if you let the problem foster and don’t fix it right away.
This is why it’s always a good idea to get rid of mold as soon as it appears, or better yet, prevent mold from ever growing in the first place.
If you’re wondering and asking yourself, “can I sell my house with mold damage?”, then the answer is, you can. The only question is, for how much and how hard it will be. Because, if you plan on selling your house through the traditional process, then you will have to spend a lot of money fixing a lot of things before your house gets sold while waiting for months on end – and that’s if it sells anyway.
Thankfully, there is another option.
If you want to sell your home that has mold damage and don’t want to deal with insurance claims (if you have a claim), or don’t want to clean the mold up, you can always contact Cash Buyer New Jersey.
We buy houses NJ for cash at Cash Buyer New Jersey, regardless of the condition. All you need to do is to let us know what condition your property is in and we’ll give you a fair offer right there and then. If we come to terms, the deal is closed in a month’s time and you’ll be free to NOT worry about how you’re going to get rid mold from the house that you no longer own.
Five Things You Can Do to Sell a Property with Tenants
The common way of selling a rental property is to wait for a tenant’s lease to expire. Unfortunately, that’s not always possible. Not all rental property owners can wait out a lease to expire, in which case, selling a rental property goes from a straight-up proposition to something that can turn ugly quickly if the seller is not too careful.
This is where meticulous and careful planning goes into play.
It would also help to follow the five tips that we outlined below:
1. Check local state rules first
Rules for local tenant-landlord relationships can differ from state to state, so you might want to check first about things that you’re legally allowed to do.
A better idea would be to consult a licensed real estate agent with experience selling rental properties. But, either way, it’s always a good idea to check local state rules and laws first.
2. Have a meeting with your tenants
You should never blindside your tenants.
Invite them out for coffee, or somewhere else, and talk to them about what you plan on doing. Never ever force them to take your position. Instead, try to understand things from their point of view, especially if they get defensive or are hurt by what you’re about to do.
What you want to do is to explain properly what your reasons are for selling your home, what’s going to happen to the property once it’s sold, listen to how they feel about the situation, and hope that they take it in stride.
3. Set protocols for property showings
Communicate, in writing, the protocols for property showings for prospective buyers.
Yes, you own the property. However, that doesn’t mean that your tenants have no rights.
Try and work together with your tenants a proper schedule of when prospective buyers can take a look at the property to help smooth things over.
4. Compensate tenants who cooperate with added incentives
You can’t really expect your tenants to go down without a fight, because, the fact is, they’re about to lose their home.
Just imagine how big of a change that is.
Once it’s sunk in, try to find ways to provide tenants with some form of compensation should they cooperate throughout the selling process. Giving them a discount from their monthly rent up until the property sells is a good start.
5. Help out your tenants however you can
Outside of providing compensation, you might want to do a bit more and help your tenants out however you can.
Try to get creative and find ways to make the transition easier for your tenants. You might even want to hire an agent to help them find a place to move to once the deal is signed and they no longer have the home.
You don’t necessarily have to do this, but helping your tenants out is the humane thing to do and it also helps guarantee that they’ll cooperate.
Asking yourself, “how do I sell my house fast?”, especially if it’s a rental property, can get a little bit tiring. You’ll realize this even more after you’ve gone through multiple showings and not a single buyer has signed a deal yet.
If you want to avoid having to go through this long and arduous process of selling your house the traditional way, you can contact Cash Buyer New Jersey.
We buy houses NJ for cash so you don’t have to worry about trying to get your tenants to cooperate for weeks if not months.
You just have to let us know that your property is on the market, and we’ll give you a fair offer. If you like it, we can process the papers, and the proper will be off of your hands in just a month.