How To Sell a Vacant House on Long Island
You might be confused about how to sell an empty house if you have an empty property. It can be challenging to sell a vacant house, but it needs to be done quickly. Leaving a house vacant on Long Island can expose you to various dangers and liabilities, such as:
• Fire or water damage
• Destruction by weather
• Squatting or trespassing
• Vandalism and theft
If you own a vacant home, you have probably faced your unfair share of real estate challenges. Vacant homes often attract vandalism, trespassers, and unwanted attention from neighbors who get fed up with the often-unruly landscaping and occasionally fallen gutters that become the eyesore of the neighborhood. Of course, the winter months here in Long Island are especially challenging. You are likely spending more than you’d like on utilities and repairs to keep things in working order, or you might even be shutting off your utilities during those months, ignoring any needed repairs, and just hoping everything works out.
Things to Think About When Selling a Vacant Home
A common problem that tends to sneak up on people with vacant homes is their homeowner’s policy- which often requires the home to be occupied. It’s important to update the policy in a timely manner, or you may lose your insurance coverage if your property is damaged after being vacant for over 30 days.
You should notify the local police department that the home is vacant- this helps their situational awareness as they patrol your neighborhood, and they’ll know to look for any damage or signs of forced entry as they make their rounds. It’s also a good idea to install security cameras, motion sensor lighting, and security systems to prevent break-ins and vandalism.
Landscaping is often easy to neglect, especially if the house is far away from the home you live in. You don’t want to upset your neighbors, and you don’t want to signal that the property is vacant and therefore attractive to squatters, criminals and vandals. You can always hire a trusted landscaper if you know of one, or you can use one of the new “gig-economy” websites like TaskRabbit.
You will also need to make sure you are regularly checking for problems like water damage or mold, which can become expensive problems and difficult to remediate if they go ignored for too long.
If selling your vacant home is your end goal, there are plenty of options that sellers have. Here is how to sell a vacant house fast on Long Island, NY.
How to Sell a Vacant House Fast
It is vital to sell a vacant home quickly so you can reduce your exposure to the risks of owning a vacant property. Surprisingly, vacant homes have more wear and tear than an occupied home and therefore deteriorate at an accelerated, so you also want to sell a vacant house fast to avoid it losing value.
1. Secure the House
Make sure that the house is locked up. With any vacant home, you want to ensure that your home is protected from intruders and that it does not appear vacant.
- Set up a security system, even if you live in a safe neighborhood. The first thing we do with any vacant house we purchase is set up a SimpliSafe security system. These are great because they don’t require phone or internet service, they work over a cellular connection.
- You might want to get automatic lights than turn on when it gets dark for the place.
- Request your neighbors to collect the miscellaneous items or mail that collect on the doorstep/mailbox. Kids love to do this one.
- Request your trustworthy neighbor to keep an eye on things. The neighbor will likely be flattered that you trusted him and gave him that kind of authority. They also have a vested interest that the house does not start attracting evil doers.
2. Leave the Utilities On
You are always advised to turn the lights off before leaving. However, sometimes, leaving the utilities on can be beneficial.
- Costly weather damages such as frozen pipes can be prevented if the utilities are left on
- The buyers may get the idea that the house needs more repairs if the utilities are off. Since they don’t know that the utility system work, they must assume that they don’t.
- If you keep the utilities on, it will be easier for everyone to see the house during a showing. Additionally, if you plan on making any repairs, the workers will need electricity to run their tools.
3. Maintain Curb Appeal
You want to make sure you keep up with the upkeep and maintenance on the property. In addition to making the house appear lived-in like mentioned above, you don’t want to rack of any fines from the city, town, or HOA. As the homeowner, you can get fined for overgrown grass and trash in the yard. Letting your vacant house’s curb appeal deteriorate will deter prospective buyers who may drive by the home, leading them to lose interest in the property before ever seeing the interior. Additionally, having a house that is a blight on the neighborhood will anger your neighbors, the same people you want to be your eyes and ears in case of any issues.
4. Houses Sell Better Furnished
People can be quite emotional. Therefore, making the house look homely can make a world of difference. Even though the house has been sitting vacant, you should try to make it look as though the house has been lived in. The results will surprise you. You will be surprised how helpful baking some cookies can be. People love a house that smells of baked cookies.
Staging the vacant home will also give your buyers some insight into how they can use the available space. When you stage the house, the buyer gets to see the full potential of the home. The question is, how much would it cost you to stage a vacant home? Staging a home can cost you anywhere between $1800 and $5000 depending on how far you want to go.
6. Focus on ROI If You’re Making Repairs
If you want to handle the repairs of the house yourself before you sell it, there are some things that you need to keep in mind. For one thing, it will need a lot of time and money. You’ll want to identify the repairs that will be most effective and targeted at the aspects that will give you the best return on investment. The best returns are often seen by redoing kitchens, bathrooms, and a fresh set of paint. While the ROI is good, kitchens and bathrooms can get very expensive, so make sure you have the cash available for such a repair before you begin. To get the best price on the work, always make sure that you have repair estimates from multiple sources.
Should I Sell My Vacant House To A Cash Home Buyer?
Selling your vacant home to a cash home buyer is another option. Home buying companies buy houses in as is condition and if your home has been vacant for qute some time, there may be some costly repairs. If avoiding the stress and hassle of dealing with those repairs is your goal, a home buying company might be a great idea.
Make sure to do your research and find the best home buyer in your area. A great home buying in the Long Island area is Leave The Key Homebuyers.
They buy vacant houses fast. They purchase houses in all types of conditions and make sure that selling the home is convenient for you. You can get a free cash offer from them here.
We Can Help Sell your Vacant Home
There’s no doubt about it, vacant homes can be a lot of work and a lot of stress. If you’re tired of spending all that time and money on your vacant home, contact us today at (631) 388-7771 to get your free, no obligation cash offer so you can sell your vacant home as is.
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