Home Vacant?

January 7, 2011 by

Home Vacant?

There are many reasons why a house will often sit vacant. It may or may not be by choice, but it is almost always a problem for the owner. Unoccupied houses have a tendency to draw unnecessary attention to themselves. Many times it’s the unwanted attention from neighborhood kids or others who see it as an opportunity to break out windows or vandalize the house. During the winter months, you pay for the utilities that are to be left on to keep the house in good condition: otherwise, you shut them off and hope no damage will occur. Furthermore, unless you change your homeowner’s policy, you may no longer be covered by insurance if your home is damaged after being unoccupied over 30 days.

Just about any house, regardless of its condition, has some value. The factors affecting the worth include the obvious such as neighborhood, size, condition, room layout and so on. Even a “not suitable to occupy” designation has land value after the structure has been demolished.

A house that is occupied has an element of security in the sense that vandalism is less likely; it would not be usual for thieves to strip the copper plumbing while you are asleep in the next bedroom. What about a vacant house? If it is in a good area with diligent neighbors it might be more difficult – not impossible, however.

An article in the April, 2009 issue of the ABA Law Journal described a gang of thieves targeting the furnishings in vacant houses. High-end furnishings were being used to enhance appeal to prospective buyers. Unfortunately, the thieves paid attention as well.

My point is that vacant house values can spiral down very quickly. What about the one above? The boarded windows and doors provide a secure environment for thieves to remove copper pipes, wiring, heating units, light fixtures – even tubs, sinks and kitchen cabinets; these piranha of the underworld are as efficient at their namesake in the Amazon River.

If a house you own is vacant, it can be a money pit. In addition to the normal upkeep, in the current market, depreciation is a consideration. In some areas, houses are still declining at a 15% rate per year; in many cases, more. Consider personal liability as well. A vacant house can be an attractive nuisance. Is it child proof? Is it attractive to the homeless? Is it a potential playground for the drug culture? Certainly not in all neighborhood but possibly in many.

Foreclosure Killers can provide a variety of solutions to these problems if your house is sitting vacant. We can buy your house or make arrangements to take over your monthly payments and maintain the property until we sell it.


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