Do You Have a Vacant Property Draining Your Bank Account Each Month?
The Costs Associated With Vacant Property
At some point you may run across a scenario where you inherit a property, have tenants move out on you, or have to relocate. You could be left with a vacant house, vacant land, or vacant building. At first this could be a good thing! You may have all the plans in the world to remodel the house, or build on the vacant land, but then reality sets in… Soon life takes back over and you never get around to doing the renovations or getting in contact with a contractor.
Now what costs do you face each month holding onto that property?
- Mortgage Payment: A mortgage payment is the monthly reoccurring payment that is paid each month on the money lent out from the bank. Typically it is more common to have a mortgage on houses then land, but each scenario is different.
- Property Tax: Property taxes are charged yearly by the county that you live in. Unlike a mortgage, property taxes will never go away. You can be sure that over time they will likely increase and cost more money each month.
- Utilities: Utilities refer to water, gas, electric and any other type of monthly cost associated with the property.
- Maintenance: Maintaining a vacant property can easily become burdensome. Whether it is mowing the lawn, shoveling the driveway, or keeping people from vandalizing the house, it is no small task. Just by driving around the city you can identify the vacant properties by the way the current owner maintains them.
- Liability: Whether you own a vacant house, vacant lot, or vacant building there is always liability. You don’t want anyone to get injured on the property and hold you liable.
I am writing this article to spread awareness on the topic. Most people do not know what they are getting into when faced with a vacant property. However, we have helped many people in this same scenario. The vacant house has just become a burden and they need to sell fast.
We offer to solve the problem for them, and purchase their property for cash. If you are in need of our assistance just fill out the form below and we will be in contact within 24 hours!
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