While inheriting a house might initially seem like a stroke of luck, the scenario takes a different turn if you find out it’s a hoarder house. Inheriting such a property presents its own set of challenges. Hoarders attach significance to possessions that are no longer useful, cluttering their homes with them. Moreover, these houses can pose risks such as fire hazards to neighboring properties and occupants due to obstructed exits, as well as health hazards by attracting rodents. If you find yourself in this situation let us share 5 tips to help you out!
Take Up Residence
Our initial suggestion for those who’ve inherited a hoarder house is to contemplate residing there. However, transitioning into such a property isn’t straightforward; extensive preparations, including clean-out and repairs, are necessary. You will most likely need a junk removal company to help get it in livable condition again. Moreover, evaluating the property’s condition becomes challenging when every available space is overwhelmed with clutter from floor to ceiling. If living in the property isn’t your preference, you can skip the repairs, prep work, or inspection hassle by selling directly to a local cash investor, such as US Direct Home Buyers. A cash investor from US Direct Home Buyers will purchase your hoarder house as-is for cash.
Make it a Rental Property
Another suggestion for those who’ve inherited a hoarder house is to contemplate transforming it into a rental property. Becoming a landlord entails entering the realm of real estate investing and interacting with tenants, making it advantageous to possess strong interpersonal skills. Managing an investment property necessitates compliance with all local, state, and federal tenant laws; mistakes in this domain can prove to be financially burdensome. Furthermore, implementing a rigorous tenant screening procedure and maintaining organized documentation and records are crucial for maximizing potential tax benefits. Additionally, be prepared to promptly address emergencies, regardless of the time, when tenants reach out. It’s a great option to consider but definitely not the answer for everyone.
Sell It
If you’ve inherited a hoarder house and opt to sell the property, you might consider the conventional real estate sales process, which revolves around showings and requires sellers to prepare the property for maximum profitability. Alternatively, you might contemplate preparing the house yourself, listing it as a For Sale By Owner (FSBO) to avoid real estate commissions. However, FSBO sales often don’t favor sellers due to reasons such as limited marketing and inadequate buyer screening. When selling a hoarder house, it could be very demanding of time and finances to prepare to sell on the MLS. Most of the time this isn’t ideal and it is the easiest to sell to a local cash investors like US Direct Home Buyers, who will purchase your hoarder house at a fair market value without charging any real estate commissions or requiring clean out or repairs of the house.
If you inherited a hoarder house a direct sale to a cash investor at US Direct Home Buyers is ideal. A cash investor will walk you through the process, taking the time to listen to you and answer any questions or concerns you may have without any obligation.
