What To Do With Your Vacant Property
Having a property that is vacant can be stressful, and put you into financial troubles. If you are having a hard time deciding what your options are with this property then continue reading for solutions to help you get out of your troubles.
1. Rent out the property - Renting out a property is a great way to make extra monthly income and a great investment. If you have tenants making the monthly payment of the house then they are basically paying it off for you. If you don’t owe too much on it, then hopefully you can also make more than the monthly bill on the home, leaving you with extra savings. One day you can sell this property and cash in on this investment.
2. Move into the property - Another great thing to do with a vacant property is move into it yourself. Save yourself some money and only have one property instead of paying for two, especially when it is pointless with one being vacant. Moving into the home will save you from having to find tenants to live in the home, and making sure that they don’t destroy it while doing so. It will also allow you to sell your first property hopefully allowing you to make some extra money to get you on your feet again.
3. Sell the property - Are you tired of finding tenants to occupy your property? Are you feeling overwhelmed with fixing the place up every time you get a new renter? Well if you answered yes, and you also don’t see yourself wanting to live in the house either than selling your vacant property is probably an excellent approach to take. It will be a way to free yourself of getting out of the headache of finding renters or moving into a place you don’t want to make your home. So if you are wondering how to sell this property than we will list some ways you can get this to happen.
4. Real Estate Agent - These guys will come in and get your house on the market. There are some downfalls though that it is important to be aware of. It may be on the market for a while leaving your home vacant still, putting you out even more money. They will also charge you a large commission fee. Make sure you do your research when considering a realtor so that you don’t lose money.
5. Sell by owner - Selling by owner is always the best return. You don’t have to pay anyone any fees, and it is all on your terms. The problem though is finding resources to market and list your home. This process can take months to years to even just make your house known to potential buyers.
6. Sell to a cash buyer - Selling your home to a cash buyer is a way that is fast and gets you the cash in your hands in just a short week. BankRate goes over all of the benefits of a cash buyer. The reason why this may be the most ideal for your situation is that of the speed of the process. If you have a vacant property, and it is eating away your funds than waiting to sell the house is just going to eat more of your money. A cash buyer will buy your home as is, allowing you to literally just walk away with the money in your pocket, or pay off your mortgage right then and there. No need to waste any more time sitting on your property this is a fast easy process.
Here at Pro Source Home Buyers, we are cash buyers who are ready to take your vacant property off of your hands. Give us a call today 865-268-4537, or visit our website for any questions you may have. We will gladly come out and give you an offer and get the cash to you as soon as you need it.