Sell a Vacant House
Is it harder or easier to sell a vacant house? It depends. For example, in California, vacant homes in places like San Jose sell for only slightly less (0.9% less) than occupied homes, but they do indeed sell faster in highly competitive markets like the Bay Area.
Don’t worry, this guide will walk you through essential tips for selling your vacant house swiftly and efficiently.
Table of Contents
Why Would A House Be Vacant?
There are numerous reasons. Often, people are leaving a house vacant because of work relocation, inheriting a property they cannot immediately occupy, or landlords between tenants. Sometimes, a house might be left unoccupied during a lengthy sale process or renovation period. In such cases, services like ours in We Buy Houses offer valuable solutions, purchasing homes as-is and turning what could be a complex situation into a straightforward sale.
Do Empty Houses Sell for Less or Take Longer to Sell?
Am I going to get less profit? Do vacant houses sell faster? While the absence of furniture and decor can make it difficult for potential buyers to envision the property as a lived-in home, an empty house presents a clean slate for buyers looking to customize a space to their taste, and the lack of personal belongings accelerates the inspection process. So the truth is, there is a buyer for every property, but a vacant house might suggest to buyers that there is a rush to sell, which could lead them to propose lower offers.
All in all, the answer will vary based on local market conditions and competition levels.
Why Empty Houses Take Longer to Sell?
Empty houses often linger on the market longer than their furnished counterparts for several key reasons. First, they lack the warmth and inviting atmosphere that furniture and decor contribute, making it harder for potential buyers to imagine themselves living in the space. Empty rooms can also appear smaller and less functional without furniture to provide scale and context.
Additionally, an empty house can signal to buyers that the seller might be desperate to sell, which could lead to lower offers. It also suggests that the property might have been vacant for a while, possibly leading to concerns about maintenance and the condition of the house.
For sellers facing these challenges, partnering with a company like We Buy Houses to sell your San Leandro house, for example, can be a strategic move if you’re looking to do it with ease and without the waiting.
Challenges of Selling a Vacant House
- Lack of Appeal: Empty homes can appear impersonal and uninviting, making it hard for potential buyers to envision themselves living there.
- Security Risks: Vacant properties are more vulnerable to vandalism and theft, requiring homeowners to invest in security measures or risk facing damage.
- Maintenance Issues: Keeping a vacant house in good condition demands regular upkeep, such as lawn care and minor repairs.
- Higher Insurance Premiums: Insurance companies often charge more for vacant properties due to the increased risk of undetected issues like water damage or fire.
10 Steps to Sell a Vacant House
- Know Your Market: Understand the local real estate climate and how your property fits into it. Pricing your house right from the start is crucial in attracting serious buyers.
- Secure the Property: Ensure that all entry points are secure to prevent unauthorized access. This not only protects the property but also reassures potential buyers about its safety.
- Enhance Curb Appeal: Mow the lawn, trim the bushes, and consider a fresh coat of paint to make the property look welcoming and well-cared-for.
- Install Security Measures: Adding security systems or motion-sensor lights can deter vandalism and give buyers confidence in the safety of the property.
- Schedule Regular Cleanings: A clean home is more attractive. Regular cleaning, even in a vacant house, prevents dust and decay from settling and shows that the property is well-maintained.
- Schedule Viewings Wisely: Plan viewings during daylight hours to ensure the property is seen in the best light. Adequate lighting can make a huge difference in how a property is perceived.
- Verify Potential Buyers: Ensure that potential buyers are pre-approved for loans or have proven financial capability to streamline the selling process and avoid delays.
- Consider Open Houses Carefully: Open houses can be beneficial but require careful planning to ensure the property is presented well and security is not compromised.
- Make sure your homeowners insurance is still valid: Vacant properties may have different insurance requirements. Keeping your policy up to date protects you against unforeseen damages.
- Reduce closing time by selling to a cash buyer: If speed is a priority, selling your San Pablo house to a cash buyer, or any location in the Bay Area, like We Buy Houses can significantly cut down the closing time, often completing the sale within days without the usual complications of traditional sales.
Mistakes to Avoid When Selling a Vacant House
Skipping the Appraisal
Obtaining an official appraisal lends credibility to your asking price and reassures potential buyers about the value of the property.
Not Securing Repair Estimates
Having detailed knowledge of potential repair costs provides leverage in price negotiations and offers a realistic picture of the property’s condition.
Discontinuing Utilities
Keeping utilities active prevents weather-related damage and reduces buyer concerns about potential hidden repairs. Utilities in operation also enhance the viewing experience, making the property more appealing during showings.
Omitting Necessary Repair Disclosures
Be transparent about any repairs that you choose not to address. Failure to disclose known issues can lead to liability for undisclosed problems, even in an “as-is” sale.
Not Staging
Staging a vacant house can significantly impact buyer perceptions. Proper staging helps define room sizes and functions, provides a welcoming atmosphere, and assists buyers in visualizing the house as a home.
Failing to Secure the Property
Ensure the house is secure from weather, trespassers, and potential vandals. Effective security measures not only protect the property but also assure buyers of its maintenance and safety.
Ways To Sell Your Vacant House
List with a Real Estate Agent
A knowledgeable agent offers expertise in marketing vacant properties, handling showings, and navigating negotiations.
Sell to a Home Buying Company
For those looking for a quick sale without the need to worry about the emptiness, companies like We Buy Houses offer a direct purchase option. As for us, we’ve bought several vacant homes in the Bay Area, as our reviews state successfully.
Online Marketing
Utilize online platforms to reach a wider audience. High-quality photos, virtual tours, and detailed descriptions can help attract interest even when the house is vacant. Emphasize features like good location, potential for customization, and any recent upgrades.
Auction
Selling your house at an auction can be a fast way to dispose of a property. This method can stimulate buyer competition and potentially secure a sale quickly at a good price. However, it’s important to set a realistic reserve price to ensure that the house does not sell for less than desired.
Want to Sell a Vacant Home Quickly? Get in touch with We Buy Houses in the Bay Area!
There’s no need to worry about staging, repairs, or waiting for buyer financing approvals. We specialize in quick, hassle-free transactions, offering fair cash deals for houses in any condition and situation. Want to know more? Our process is well-explained on our How It Works page. Whether your home needs major repairs or you’re in a hurry to sell, our process eliminates the complications associated with traditional home selling.
FAQ'S
What are some reasons why a property might become empty?
A property may become vacant for several reasons, including the owner relocating for work, the property being an investment that isn’t currently leased, the death of the owner leaving the house in an estate, or the owner deciding to sell a house that they have moved out of.
Should I consider furnishing my empty home before selling it?
Furnishing an empty home can help potential buyers visualize themselves living there, potentially making the home more appealing and helping it sell faster. However, whether you should furnish it depends on the market expectations in your area and your budget for selling expenses.
Is staging necessary when selling a vacant house?
Staging is not strictly necessary but can be very beneficial. It helps define spaces and show potential uses for different areas, making the property feel more like a home and less like an empty shell. Staging can particularly influence buyers’ perceptions positively, leading to faster sales and possibly higher offers.
What security measures should I take for my vacant house during the selling process?
It’s important to secure a vacant house to protect it from vandalism, theft, and other risks. Installing security systems, using timed lighting, securing all doors and windows, and regularly checking on the property are effective measures. You might also consider hiring a property management service to oversee the home during this period.
What is the Fastest Way to Sell a Vacant House?
Selling to a cash home buyer, like “We Buy Houses” companies, is typically the fastest way to sell a vacant house. These buyers often close in days, require no staging or renovations, and buy the house as-is, which eliminates many delays associated with traditional sales.
Do Empty Homes Sell Faster?
Not necessarily; empty homes can sometimes sell slower than furnished homes because they can appear less inviting and make it harder for buyers to imagine the house as a lived-in space. However, this can vary widely based on the local market and the marketing strategies employed.
How long does it take to sell a house?
The time it takes to sell a house varies depending on several factors including market conditions, pricing, the home’s condition, and how well it’s marketed. On average, it might take anywhere from a few weeks to several months. In hot markets, houses can sell within days, whereas, in slower markets, the process can take several months.
