We all know what a hoarder house looks like, thanks to reality television. While watching jam-packed rooms transform from health hazards into livable spaces might be entertaining, if you inherit one of these houses, you’ll soon realize the details that often get left out of these portrayals.
For most people, selling a hoarder’s house is the best way to eliminate the liability and financial burdens associated with it. When you need to sell your house fast in Memphis, TN, you have two options: fixing it up or selling it as-is.
Option 1: Fix Up the House
Selling a hoarder house is easy, right? It just needs some cleaning and minor repairs.
Unfortunately, it’s not that simple. You can clean out the trash and unwanted items yourself or work with a local cleaning service specializing in decluttering and cleaning hoarder properties. However, these services can cost thousands of dollars. In some cases, there may be items of value in the home that you can sell at a yard sale or estate sale to recoup some of the costs.
However, the house will likely need additional work before you put it on the market. Hoarders often live in their homes and collect items for decades, and the mess usually means that it’s outdated and needs repairs to bring it up to current code. After cleaning out, a home inspection to check on the condition of the plumbing, HVAC, roof, foundation, and other critical elements is necessary to determine what needs fixing or updating.
After cleaning and repairs, the house will undoubtedly need cosmetic updates to restore it to livable condition. Ultimately, preparing for sale requires a lot of time, money, and effort, which may not be worthwhile depending on the final property valuation.
Option 2: Work With a Cash Buyer
Selling a hoarder house on your own might seem like a smart move, but it can take months or even years to fix it up — and even then, it can languish on the market for a long time, costing you money.
Selling the property as-is to a cash buyer allows you to get rid of the distressed property faster without investing resources in cleaning or renovations. With an as-is sale, the buyer will perform a walkthrough home inspection, review the property details, and make a cash offer that accounts for the home’s condition. You’ll walk away with cash, and the property will no longer be your concern.
This approach does have some potential tax implications, depending on its appraised value, so consult your attorney or tax professional for some estate tax tips when deciding how to proceed.
Sell Your Memphis-Area Hoarder House Fast
If you need help selling a hoarder house, a condemned house, or any other distressed property, call Alan with Pyramid Properties at (901) 504-5555 to learn more about your options. He’ll walk you through your options and close the sale as quickly as possible so you can move forward.