How To Sell A Hoarder House | Everything You Need To Know
Selling a hoarder house can be challenging, especially if you’re trying to do it yourself. Although hoarder homes can be difficult to sell, they can also be profitable. Here’s how to sell a hoarder house either through a realtor or a local home buyer.
1.) What is a hoarder house?
A hoarder house is a house in which the residents have not spent a significant amount of time cleaning or caring for it. In the most severe cases, the house is completely overrun and filled with garbage. In more mild and more common cases, the house simply has a room or two that is overrun and is otherwise very untidy, but not necessarily impossible to recover from.
2.) What are the hidden threats of a hoarder house?
The hidden threat of a hoarder house is the unseen damage to the property. You’ll need to assume that the floors, walls, and other surface-level fixtures will need to be replaced. It can also be very difficult to assess the damage to the electric or plumbing systems or if any of the damage is structural.
Aside from that, animals can live in the house or it can attract wild animals and other sicknesses and diseases. You see, these homes are seldom, if ever cleaned by the owners. This is a breeding ground for disease. They are not always filthy. Sometimes they can be clean, just filled with a massive amount of junk, but 75% of the time the house is extremely filthy.
3.) Why do you need to sell a hoarder house?
There are specific investors that specialize in rehabbing properties that were previously owned by hoarders or that did not have good upkeep. A hoarder might need to sell the house because the local city or town is making the owner sell through fines and violations. It’s very common to see a hoarder home have waist-high grass, old vehicles parked in the yard, and untrimmed shrubs growing out of control.
4.) Which is better, selling a hoarder house as-is or renovating it before selling?
It is more profitable to renovate a hoarder house before you sell it. However, you need to know what you are doing and you need to have access to significant capital. Unfortunately, most people that need to sell a hoarder house do not have the experience or capital to renovate it. That’s why most sellers prefer to sell a hoarder house as-is. Of course, whoever you sell it to might flip it or turn it into a rental, but to get this house back to safety, the fastest way is to wholesale!
5.) Cost of renovating a hoarder house
Anywhere from $100,000 to $250,000 dollars depending on the extent of the internal damage. But again, the total cost of renovating a house may vary depending on the current condition of the house.
6.) How to sell a hoarder house fast?
The way to sell the house fast is to put a very low price on it. That way, anyone interested will buy it. If there are multiple interested investors they may even bid the price up.
7.) Can you sell a hoarded home with a real estate agent?
Absolutely, however some realtors understand that it will be difficult to sell and may be reluctant to attach their brand to the home.
If not, what is the best option? One of the options with a home like that is to list it as for sale by owner and pay for MLS distribution separately. A hoarder house can be sold fast when the home-owner calls a cash home buyer. A professional investor or a cash home buyer will be able to determine if the home is worth fixing up or not. If there’s no added value by fixing it up, then they wouldn’t be interested, meaning there would not be any profitability to renovating. That’s the easiest way a property owner can find out whether it’s worth making repairs.
Need to sell my hoarder house? Contact us today to sell a hoarder house fast for cash.
A hoarder’s home can be quite difficult to own or inherit. It may easily turn into a financial burden that puts you in debt. But do not worry; it is not necessary. When wanting to sell quickly and with little work on your part, selling a hoarder house as-is for cash is one of your best solutions. Just reach out to Schiera Properties to help you sell your hoarder house today.