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A house is more than four walls. It’s a place that people dream and it’s a place that memories are made. People put a lot of emotional energy into their homes, but they also put a lot of cold hard cash into their homes. Sometimes that all goes wrong, and suddenly there’s a need to sell an abandoned property in Raleigh.
It’s hard to imagine why a house would fall into a state of disrepair that would warrant abandonment. Property is the biggest investment that most people will make in their lifetime.
Most people who need to sell abandoned homes come into them because of an inheritance or a rental property problem. Whatever the reason, selling an empty house is different from traditional home sales.
That doesn’t mean that it’s impossible or that it’s challenging, it just means that you have to think a little differently. Selling North Carolina abandoned places can be a win-win for everyone involved.
How homes become abandoned
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Life is not a straight line, and neither is the home buying market. There are tons of different pressures on homeowners. Though it can be unimaginable that a property could fall into enough disarray that it could become a condemned property, it happens all too often.
This is true even in the booming seller’s market that we’re currently in. Not everyone has the tools to sell their home, and the whole process can be hugely intimidating. For some people, it’s easier just to walk away from a house and ignore the problem.
Here are three reasons why homes become abandoned.
1- High repair costs
Sometimes the cost to repair a home is simply too high to conceive of taking on the project. People often think that the only way to sell a house is if it’s in great condition and they partner with a real estate agent. They don’t realize that they could sell the home for an all cash offer to a we buy houses company or an investor without making repairs.
Renovating a house that has termite damage or that as a significant mold problem can be totally overwhelming and it can seem impossible. Structural problems or previous damage from natural disasters can also compound issues that a homeowner is facing.
These problems continue to snowball, especially when a homeowner doesn’t have the means to make the smaller initial repairs. After a while, it’s just too much to tackle. It’s easier to ignore a problem than to deal with it.
2- Emotional attachment
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A very common reason that people don’t want to sell a property is the emotional attachment that the family has to it. If the home has been in the family for many years and holds a lot of memories, people can be reluctant to let go of it. This is understandable, but it causes all kinds of issues.
There’s also the issue of the overwhelming number of things that have to be addressed when someone passes away. The death of a loved one leaves a whole host of things to take care of. From the funeral arrangements to handling past debts to dealing with personal belongings, there’s so much to do. Losing a loved one is always unexpected, even after a long illness. You never know everything that has to be taken care of until it’s time, even if there was time to prepare previously.
A home can stay empty for years while the probate process winds away. If no one is living in the house, the home can fall into disrepair. This abandoned state is not easy to come back from, which leads the family back up to #1 on our list.
3 – Acts of God
Natural disasters are often referred to as “acts of God” in contracts and insurance policies. Hurricanes, earthquakes, tornadoes, and floods can be a harsh reality for anyone to deal with. Natural disaster prone places like coastal areas in North Carolina can be especially vulnerable to these problems, leading to more abandoned houses.
The hurricanes that pass through North Carolina east of Raleigh can be devastating, especially in economically depressed areas. Small towns like Bunn, Knightdale, Roanoke Rapids, and Kinston, NC are all more likely to be affected by natural disasters. Flooding from local rivers like the Roanoke River and the Dan River can make houses totally uninhabitable.
Once something like this happens, it’s difficult to come back from that kind of problem. Fixing the home can be held up by insurance denials.
Problems with abandoned homes
A property can have all kinds of problems once it becomes abandoned. There might be issues with squatters coming to the house and living there. North Carolina squatter’s rights can cause problems for people who own the property. Not only that, but squatters can lead to legal problems as well.
If a property stays empty for long enough, it could become condemned. In this case, the city of Raleigh or the Wake County government could step in. Eventually, the problem can lead to the house being forced to be torn down. The city can repossess a piece of property that’s posing a danger to the neighborhood because it’s in such a state of disrepair.
Selling your abandoned house
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Neighborhoods that have abandoned properties located in them tend to bring the value of everyone’s home down. When there are dangerous structures, whether they are posted with no trespassing or not, it’s common for people to go inside. People will sneak into doors left opened, ignoring any information about the building and its safety.
While you’re not required to keep a property up if it’s not part of a housing organization, there is still a responsibility to the community to take care of a property. It’s good for everyone. Sometimes the best way to be a good neighbor is to sell the property so that someone else can fix it up or tear it down.
You don’t even have to empty the contents of the house to put it on the market. You don’t have to make repairs and you don’t have to go through a long process. Selling your house quickly, even if it’s in rough condition, is possible if you’re willing to take a fair price for it given the condition.
If you need to sell your abandoned house in Raleigh, there are a few steps you can take. It’s not as complicated as you might think!
1 – Assess the property condition
The first step is to look at the property and find out what kind of condition it’s in. You might need to bring in a professional property inspector or a real estate assessor. Contact a local real estate agent if you’re looking for a service like this in Raleigh. You can also consider working with Raleigh general contractor to find out what’s going on with the property.
You may want to do an unclaimed property search to make sure that there’s no other property owner out there that has a claim to the property. This is especially true if you inherited the property from someone you’re related to. This could involve checking with the superior court records to make sure that there’s no claim on it on record with the city.
2 – Figure out what price you need
Depending on what your needs are, you might want to sell the house fast to a cash buyer for a lower price than market value. You can work with a real estate agent to find out what the market value is for the home. Another option is to contact a cash buyer in Raleigh to see what cash price you can get for the property.
You might have back taxes that you owe on the property and need to clear enough to pay off the tax lien. If there’s still a mortgage on the house, you’ll want to clear enough to pay the loan off. Going into foreclosure on a distressed property is something no one wants to have to face. You can avoid foreclosure by getting a fast sale for a good price. Whatever that number is, make sure you know it.
What method you use to sell your abandoned property will determine what price you get for it. You’ll factor in the condition of the house when you do this, as you’ll be able to get a realistic idea of what your abandoned home in Wake County is worth.
Thank you, next
Though it can feel totally overwhelming to deal with an abandoned house in North Carolina, getting it sold will give you a whole lot of peace of mind. You won’t feel the crush of the weight of this problem hanging over you any longer!
An abandoned house can be a huge financial burden for a property owner in North Carolina. Freeing yourself of this kind of problem will make you feel much better about the whole situation. What’s even better is that the property can then be used by someone who has a real need for it.
Whether you sell your abandoned property to a real estate investor or to a family who wants to fix it up, it’s better than the home getting condemned and torn down.