Although inheriting a home can certainly feel like a godsend in some cases, in other cases, inheriting a home can be an immense burden…especially if you’ve inherited a hoarder home. Inheriting a house from a hoarder brings a unique set of considerations. Hoarders give value to possessions that no longer serve them and fill their homes with these items to the point where the home is no longer livable. These homes pose a fire hazard to the surrounding properties and any occupants because the exits can be challenging to reach. These homes also can create health risks because they attract rodents.
While your loved one may have had the best intentions in leaving you their house, unfortunately, when you have a hoarder house on your hands, you may be overwhelmed by the amount of work ahead of you. So read on as we explore these five tips to help if you have inherited a hoarder house in Alaska.
Take Up Residence
The first thing we’d recommend if you have inherited a hoarder house in Alaska is to consider taking up residence. However, moving in is not so easily accomplished with homes in this shape; you’ll have to ready the house, including the clean-out and repairs. Keep in mind, it can be challenging to evaluate the condition of a property when piles are lining every available space from floor to ceiling. If you aren’t interested or it’s not possible for you to live in the property, you can make the decision to forget about making the repairs and doing the prep work to pass an inspection by selling directly to Anchorage Home Buyers. We will buy the property as-is.
Rental Property
Another route you could take if you’ve inherited a hoarder house in Alaska is to consider making it a rental property. If you do decide to take this path it’s important you keep in mind that owning an investment property requires following all local, state, and federal laws involving tenants. Blunders in this area can be extremely costly. You’ll also want to establish a stringent tenant screening process and ensure you keep your documents and records organized to realize the full potential of any tax benefits. You should be prepared to respond promptly to emergencies, night or day when your tenants call. Anchorage Home Buyers works with top-notch property managers who can help you avoid the costs of undesirable tenant placements.
Selling
If you inherit a hoarder house and decide you’d like to sell it the traditional route, it’s important to keep realistic expectations for how that process will likely go. One of the cornerstones of conventional real estate sales is the showing process which requires sellers to prepare the property to sell for the highest possible profit. On the other hand, maybe you’ve thought of prepping the house and listing it as an FSBO, and selling it yourself to save the real estate commissions. If that’s the case, you should know FSBO sales rarely work out in favor of the seller. So, our next tip is to sell by working with Anchorage Home buyers who will buy your hoarder house, paying you a fair market value without charging any real estate commissions or closing costs.
Holding Costs
If you’ve inherited a hoarder house, you’ll want to understand the costs of holding the property. These costs include but aren’t limited to the mortgage, taxes, insurance, and utilities, all adding a financial strain to your life. Additionally, there is the emotional cost of losing precious time with family and friends as you take on the enormous chore of digging into the piles and cleaning the house. It may be worthwhile to hire professionals to take on the job. However, if you’re under a time crunch or the financial burden is too much, consider selling to Anchorage Home Buyers. You won’t have to worry about clearing out any of the mess because we buy homes as-is. On top of that, we can move at your pace and provide a closing date that works best for you.
Anchorage Home Buyers
If you’ve inherited a hoarder house in Alaska, consider selling it to Anchorage Home Buyers. We 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. If you’d like to know what you could profit from listing vs. a direct sale, start by speaking with a team member at Anchorage Home Buyers. Our policy is full transparency because we want you to feel good about working with us long after the closing. We will lay all the numbers on the table, detailing the expenses and profit of each sales method so you can make an educated decision about what works best for you. If you have inherited a hoarder house in Alaska, why not talk to one of the cash investors at Anchorage Home Buyers today? Call Anchorage Home Buyers at 907-331-4472.