So you’ve inherited a house and you are starting to see dollar signs appear, when you suddenly discover, the San Diego house you have inherited is actually a hoarder house. Now what? Inheriting a house from a hoarder brings a unique set of considerations. Hoarders assign value to possessions that no longer serve them and fill their homes with these items.
While inheriting a home from a loved one is a thoughtful and kind gesture, unfortunately, when you have a hoarder house on your hands, the work, time, and money involved to sell the home may seem like too much to handle. So read on as we explore five tips to help if you have inherited a hoarder house in San Diego.
Take Up Residence
Our first tip if you have inherited a hoarder house in San Diego is to consider taking up residence. However, moving in will seem like quite the challenge because usually these homes are NOT ready for an occupant. In addition, you will have to prepare the house to live in, remove all items (and with a hoarder house, this is quite the task) as well as many repairs that have most likely been neglected for many years. Also, it can be tough to assess the condition of a property when piles are lining every available space from floor to ceiling. Suppose you aren’t interested in living in the property. In that case, you can forget about making the repairs and doing the prep work or passing an inspection by selling directly to a local cash investor like those at Trusted House Buyers. A cash investor from Trusted House Buyers will buy your hoarder house as-is for cash.
Rental Property
Another tip if you’ve inherited a hoarder house in San Diego is to consider making it a rental property. Being a landlord means you’re now in the real estate investing business and dealing with people, so although that can sound exciting, it also requires knowledge, financial wherewithal, and money. Owning an investment property requires following all local, state, and federal laws concerning tenants; missteps in this area can be extremely costly. Furthermore, as a landlord, you will need to create a strict tenant screening process and keep any and all documents and records organized to ensure you keep your documents and records organized to realize the full potential of any tax benefits. You should also be prepared to respond promptly to emergencies, night or day, when your tenants call. Cash investors like those from Trusted House Buyers work with top-notch property managers who can help you avoid the costs of undesirable tenant placements.
Selling
If you’ve inherited a hoarder house in San Diego a very lucrative option is to sell the property. In that case, one of the cornerstones of conventional real estate sales is the showing process which requires sellers to prepare the property to sell for the highest possible profit. This fact in itself is particularly challenging if you have inherited a hoarder house because the house you have inherited is not ready for any showings at all. Another idea is to list the house as an FSBO, and sell it yourself to save the real estate commissions. However, there are many reasons FSBO sales rarely work out in favor of the seller, such as limited marketing and a failure to properly screen buyers among them. Don’t worry, there is still another option. You can sell your home by working with a local cash investor, like those at Trusted House Buyers. Trusted House Buyers will buy your hoarder house, as-is (yes, it is true), pay you a fair market value without charging any real estate commissions.
Holding Costs
If you have inherited a hoarder house in San Diego, it is important to understand the costs of holding the property, such as the mortgage, taxes, insurance, and utilities, adding a financial strain to your life. It will inevitably be a monumental task to dig through the piles of items and to clean the house. There are companies that handle this and it may be worth your while to hire them to relieve you of the added stress. However, if you’re under a time crunch or the financial burden is too much, and you want to sell, a cash investor like those from Trusted House Buyers will provide you with a guaranteed closing date, with no closing costs in just days.
Trusted House Buyers
If you inherited a hoarder house in San Diego, a direct sale to a cash investor at Trusted House Buyers can very well be your best option. A cash investor from Trusted House Buyers will be sensitive to your unique situation and help at every step of the process. If you have questions about the difference in profit from a direct sale vs. listing, the professionals at Trusted House House will provide you with all the facts. At Trusted House Buyers, our policy is full transparency because we want you to feel good about working with us long after the closing. The cash investors at Trusted House Buyers will lay all the numbers on the table, detailing the expenses and profit of each sales method so you can make an educated decision about what works best for you. If you have inherited a hoarder house in San Diego, why not talk to one of the cash investors at Trusted House Buyers today? Call Trusted House Buyers at 619-786-0973.
