Selling a Vacant House In Jacksonville FL
Looking to sell your vacant house in Jacksonville FL? Vacant houses are some of the most popular homes that individuals choose to sell. This can be for a number of reasons such as no use for the property, taxes getting too expensive and routine maintenance becoming too much to bear. If your house has been vacant for quite some time, there are more than likely repairs and upgrades that will need to be made to the property in order to sell it for full retail value. This post will go over the steps on how to sell a vacant house in Jacksonville FL.
Assessing The Current Condition
If you have not been to the vacant property in some time, it will be important for someone (such as a family member or friend) to visit the house and assess it’s current condition. The home may have issues such as a leaking roof, broken windows, missing HVAC unit, insect infestation, along with other damages. Taking into account what is wrong with the property and what will need to be fixed is a crucial piece in figuring out what you’ll want to do with the home. It may be beneficial to ask a realtor what similar homes are selling in the area fully fixed up. Based on their valuation, you can now get a sense of what a home buying professional would pay for the home as-is.
Estimating Cost of Repairs
Repair costs on vacant houses can vary based on what work needs to be done. If the house just needs basic updates such as kitchen and bathroom finishes, you may elect to repair the home yourself. However, most vacant houses will need more TLC such as new flooring, new paint, a new roof and sometimes larger issues such as foundation repairs or plumbing replacement. It will be beneficial to have 2-3 licensed contractors come and give you an estimate for whatever work needs to be done. Based on this, you can make the choice whether to pay for these repairs or to sell the property as is.
Repairing The Home
If you do choose to repair the property, you’ll need to be confident in your project and have a solid idea of what it’s going to cost and how long it’s going to take. Make sure to hire a contractor(s) that will do quality work for a fair price. You’ll also need to analyze what types of materials and finishes similar properties are selling with in order to achieve full retail value for the home. Repairing your vacant house may be cost effective in order to command a higher price when finished. However, often times sellers simply don’t have the time, money, or expertise in real estate repairs to go forward with the project and and elect to sell the property as-is.
Selling Your Jacksonville House As-Is
A house that has been vacant for some time may put off many prospective buyers at first instant, and their reason is valid. Vacant houses can be a headache due to the damages the home may have from lack of maintenance. However you can always just sell the house as-is. You can include this “as-is” provision in the contract, and this will ensure you have no liabilities. Since the home is being sold as-is, the cost of the home will have to reflect this. You are now paying for convenience and the buyer will be taking on added risk. It’s essential to work with a home buying professional since most buyers of damaged properties are cash buyers. Mortgage lenders are unlikely to lend to buyers buying a vacant property with damage. We buy vacant houses in Jacksonville FL, and if you are looking for an easy way to sell your vacant Jacksonville FL house, simply click here.
When dealing with selling a vacant property in Jacksonville FL, there are two routes you can take. The first route would be repairing the property yourself and paying the costs associated with this rehab project. This will allow you to sell your home for a much greater value than selling the property with damages hindering it. The other route would be to sell the home as-is. This will save you the time, costs, and headaches that a home renovation can bring. It will also allow you to sell the house much faster than having to wait for the renovation to be completed. However, a significant price drop will be necessary if you choose to sell the property without fixing it up.