While the news you’ve inherited a house may sound like a windfall, you may have an entirely different perspective if you should discover you’ve inherited a hoarder house. 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. In addition, these homes pose a fire hazard to the surrounding properties and any occupants, with exits challenging to reach and health risks because they attract rodents.
While your loved one may have had the best intentions in leaving you their house, unfortunately, when you have a hoarder house on your hands, you may be overwhelmed by the amount of work ahead of you. So read on as we explore these five tips to help if you have inherited a hoarder house in Elkton.
Take Up Residence
Our first tip if you have inherited a hoarder house in Elkton is to consider taking up residence. However, moving in is not so easily accomplished with homes in this condition; you’ll have to ready the house, including the clean-out and repairs. In addition, 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 TCJ Investment Properties LLC. A cash investor from TCJ Investment Properties LLC will buy your hoarder house as-is for cash.
Rental Property
Another tip if you’ve inherited a hoarder house in Elkton 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 it helps to be a people person. Owning an investment property requires following all local, state, and federal laws concerning tenants; missteps in this area can be extremely costly. Additionally, you should establish a stringent tenant screening process and 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 TCJ Investment Properties LLC work with top-notch property managers who can help you avoid the costs of undesirable tenant placements.
Selling
Working with a local real estate agent can make the process of selling your Elkton hoarder house much smoother. An experienced agent will be able to give you an accurate assessment of the home’s market value and what improvements need to be made in order to maximize your profits. They will also have access to marketing materials and resources that can greatly expand the reach of your listing, as well as having contacts with potential buyers that you may not be aware of. Finally, an agent can help ensure that due diligence is conducted on any interested parties, which can significantly reduce the risk of dealing with buyers who won’t follow through or are difficult to work with in general. Selling a hoarder house through an experienced real estate agent can result in a sale within a shorter time frame and at an optimal price. There are fees associated with using a real estate agent, but the benefits of having knowledgeable help throughout the selling process can be worth it in the end. Selling your Elkton hoarder home through a real estate agent could be your best option for getting top dollar for your property.
Holding Costs
Suppose you inherited a hoarder house in Elkton. Another tip is understanding the costs of holding the property, such as the mortgage, taxes, insurance, and utilities, adding a financial strain to your life. Additionally, there is the emotional cost of losing precious time with family and friends as you take on the monumental task of digging into the piles and cleaning the house. It may be worthwhile to hire professionals to take on the job. 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 TCJ Investment Properties LLC will provide you with a guaranteed closing date, with no closing costs in just days.
TCJ Investment Properties LLC
If you inherited a hoarder house in Elkton, a direct sale to a cash investor at TCJ Investment Properties LLC is the best tip. A cash investor from TCJ Investment Properties LLC will walk you through the process, taking the time to listen to you and answer any questions or concerns you may have without any obligation. If you’d like to know what you could profit from listing vs. a direct sale, start with a cash investor from TCJ Investment Properties LLC. At TCJ Investment Properties LLC, our policy is full transparency because we want you to feel good about working with us long after the closing. The cash investors at TCJ Investment Properties LLC 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 Elkton, why not talk to one of the cash investors at TCJ Investment Properties LLC today? Call TCJ Investment Properties LLC at (302)729-3022.