Vacant House – Who’s Buying?

Vacant House – Who’s Buying?

Do you (or does someone in your neighborhood) have a vacant house?

Have you wondered what can be done?

Or perhaps, who would buy a vacant house?

Everyone knows that Washington, DC is a hot real estate market and has seen large gains in property values over the past several years. Generally, inventory has been low and there have been bidding wars in hot neighborhoods. So one has to wonder, “what happens to a boarded, up vacant house? Who buys them and why do they sit vacant for so long?”

Your Vacant House Questions Answered

Most homes that are classified as a vacant house by the city are taxed six times the normal rate. This leaves the homeowner in further disarray because he or she may not have the funds to pay off the steep tax bill or repair the home to make it livable or in sellable condition to a traditional home buyer.Vacant House Front

So the vacant house sits, taxes mount, neighbors get frustrated, and the owner of the vacant house falls further and further behind. In some cases, the vacant house will end up at the annual tax auction and the rightful owner of the home will lose the home entirely due to unpaid taxes.

Spartan Home Buyers has purchased several vacant houses recently.

Every situation was slightly different but most had common themes such as falling into ownership of the heirs, back taxes owed, or too many repairs needed. Spartan Home Buyers purchased the vacant homes, as-is, with cash, and had a team in place rehab the home and sell to a traditional homebuyer. In every case, the owner of the vacant house benefited from the sale.

Spartan Home Buyers recently purchased this vacant house in Washington, DC and created a win-win for the owner, the neighborhood, a homebuyer, and the city.

 

A Recent Vacant House Rehab Story

Vacant House Before

The homeowner was an heir on the property and there were about $80,000 of back taxes owed. She grew up in the home and when her grandmother and aunt passed away the ownership fell into her hands. Unfortunately, the taxes were not paid and an investor tried to buy the rights to the home at the Washington, DC annual tax sale.

 

Instead of losing the property, Spartan Home Buyers helped the seller avoid losing the home to the tax sale process, reduced the amount of taxes owed, and reimbursed the seller for any expenses incurred throughout the process.

 

Spartan Home Buyers rehabbed the home in 6 months and will be selling the home in the coming weeks.

 

 

Remodeled Vacant House

Vacant House remodeled

Overall, many can benefit from a vacant house.

In this case, the homeowner kept the equity they deserve, the neighbors are happy (as the home is no longer sitting vacant), the city gains a taxpayer, a new family has a place to call home, and Spartan Home Buyers makes a profit on the sale.

Do you have a vacant house you would like to sell?

Or do you have a vacant house on your block?

Get in touch with Spartan Home Buyers and see what we can do for you.

 

Vacant House Seller