A property is usually abandoned due to financial, legal, or personal reasons such as bankruptcy, foreclosure, relocation, or a job transfer. Selling vacant properties can be demanding as they require expensive repairs and renovations. If you own an abandoned property in Oklahoma City, selling it as-is can be a wise decision. Here are the top reasons why you need to sell your abandoned property.
A lot of illegal activities can happen in vacant properties. According to the National Vacant Properties Campaign, the crime rates reported were twice as high in these abandoned buildings. It is essential to get rid of it as quickly as possible if you no longer live in the home.
Drains Your Money
Oklahoma City laws require landlords to pay property taxes. If you hold an abandoned property, there is a likelihood of a violation if the taxes, monthly bills, and utility fines are not paid. The government may repossess your property.
Threat to Neighborhood’s Health
Unoccupied properties may not be well-maintained. As a result, it can threaten the health of those living nearby and those who pass by. The poorly maintained house has poor sanitation, contributing to illness and pest problems.
Problems with Squatters
Based on the Adverse Possession law, squatters can occupy an abandoned property if they prove to take care of it. This legally gaining property rights could make you lose the property in the future.
Tips to Sell Your Oklahoma City Abandoned Property
Selling a property that has been abandoned for a while is not an easy task. Be flexible and open to various options to quickly sell the property. Otherwise, it could become a significant financial burden.
Inspect Your Abandoned Property
Assess your home’s condition to know what repairs are required before the sale. A property inspector can evaluate the property and tell you its value and the money needed to fix it. Based on the recommendations, you can set a realistic price and lure a prospective buyer.
Choose Your Buyer
There are two ways to sell an unoccupied property. You can make repairs and sell it through an agent or sell it as-is directly to a cash home buyer in Oklahoma City. If you don’t want to go through the hassle of making repairs and renovations, you can call us and ask, “Can I sell my house fast in Oklahoma City?” We can provide you with a fair cash offer.