So you have listed your home for sale on the market and already spending the profits in your imagination? Here’s the realistic expectations for how much your empty house in Oregon is really costing you. But have you taken any of the possible expenses that you may have before closing? What about the potential amount the time on the market could cost? It can be expensive to hold your property during the listing process. If you’re in a hurry to sell, the wait can be excruciating. If you’re already struggling with your bills, spending money to make the home be as appealing as possible for prospective buyers may prove difficult. Today’s standards are much more than they were years ago. Drone footage, Staging, 3D walkthroughs, seller concessions all can eat into that profit you’ve been dreaming about.
There are many reasons homes may spend an extremely long time on the market. Perhaps the buyer’s financing fell through, the house is in a distressed condition, the price is too high, or the property is out of step with the type of property buyers are searching for, or it doesn’t conform with the surrounding properties and stands out like a sore thumb. However, no matter why your home is empty and lingering on the market, the longer it is listed, the less the final sales price is likely to be. So read on as we explore how much your empty house in Portland is really costing you.
In addition to your mortgage payments, your empty house in Portland is also costing you in utilities each month, and your agent wouldn’t appreciate it if they couldn’t turn on the lights during a showing. Unfortunately, when you list with a realtor, they can’t provide an exact closing date, so these charges could continue for several months, putting a big dent in your profits. By selling directly to House Hunters of Oregon instead of listing, you can stop the slow leak of funds for continual monthly utilities; we offer guaranteed closing dates, usually within 10 days of approval.
Insurance and Taxes
Ongoing taxes and insurance are another way your empty house in is really costing you. The taxes owed will be prorated and taken out at closing; you can calculate this amount by dividing the total annual bill. Naturally, you will need to keep your homeowner’s insurance in place during the listing duration. Depending on the amount still owed on an existing mortgage, 80 percent or more, you will need to add PIP private mortgage insurance to your tally of holding costs. Working with a direct buyer from House Hunters of Oregon is another option that will allow you to pay your taxes off and end the ceaseless insurance payments is working with a direct buyer from House Hunters of Oregon.
If there are obvious signs of disrepair, your empty house in Oregon is really costing you more than you could imagine. Buyers are scrolling by listings at lightning speed, and you need to catch their attention with your marketing. If you can’t afford to make necessary repairs and the home’s condition is evident in your listing photos, you aren’t likely to get many offers. In this case, any offers you receive are very likely to be far below your home’s actual market value. When it comes to starting repairs on the house, especially if it is an older home, it can be highly stressful and become very costly because you never know just what you may discover as you dig deeper into the project. At House Hunters of Oregon, we’re ready to buy your home for cash in as-is condition. Let the direct buyers from House Hunters of Oregon relieve you of the risks of making repairs on your property and allow you to keep more of your money in your wallet.
Maintaining your empty house in Oregon is another often overlooked expense. If you made a long-distance move for work or personal reasons, you might be paying to travel between residences, which is costly and stressful. Alternatively, you may be paying to have your property watched over, with regular checks for signs of trouble and care for your landscaping.
When you add up the holding costs, it makes sense to sell your empty house in Oregon directly to House Hunters of Oregon and keep more of your profits. You’ll save even more by working with the direct buyers at House Hunters of Oregon, we never charge commissions, and you won’t pay any closing costs. In addition, our transactions at House Hunters of Oregon are straightforward and fully transparent; there are never any hidden fees; we show every figure used in our offer, which you’ll agree is a fair market value. The direct buyers at House Hunters of Oregon won’t pressure you, we are proud of our work helping our community and neighbors here in Portland, and we want you to feel good about the deal long after closing. Call House Hunters of Oregon at (503) 597-8471.
The bottom line is that if your house is sitting with no one to tend to it then it is a liability. The only thing that is worth more than the money you spend to maintain it is the time you lose. See what your options are and if your home qualifies for our program.