When a house or your real estate property sits empty, it is considered vacant. Vacant properties may not seem like an issue right away, but that can quickly change over time. The longer a house sits vacant, the higher risk it may be vandalized and have break-ins. Whether you moved out, or your tenants moved out, it is rarely a good idea to leave a house (or other real estate property) empty for too long in Las Vegas. This article will outline three reasons why you should sell your vacant house or property in Las Vegas.
Visibly Vacant House (Property)
There are many signs of a visibly vacant property/house- overgrown lawn, bare or boarded windows, a bunch of junk or debris in the yard around the house, or maybe the exterior is simply in bad condition and could use some repairs. Whichever it may be, owning such a house in Las Vegas could be both risky and costly. One of the greatest risks of owning a vacant property is squatters. A squatter is typically a person who unlawfully uses a vacant residence as their own, or simply occupies it without permission. In many cases, squatters can destroy the house in various ways- smashing holes in the wall, stealing the appliances, copper, plumbing material, and A/C, etc. to pawn or sell for money, and even inviting others in to do as they please. This means the cost of repairs will increase dramatically. Not only that, but the longer the house sits vacant, the more foot traffic there is from squatters, which your neighbors and passerby’s notice, which can file complaints and lawsuits. This will in turn affect the value of your neighborhood negatively, preventing you from selling for as much as possible. Furthermore, these type of houses are usually targeted by drug addicts and criminal activity. A house with this type of problem has a higher probability to have a fire break out in! Sell that vacant house to an experienced home buyer like Gr8housebuyers®, before it’s too late!
Code Violation(s) On A House
Code violations are violations that the city gives to a homeowner for a property that doesn’t follow compliancy with building codes, and/or there’s something substandard that needs correction. By definition, they are designed to ensure the safety, quality, and fairness of housing for residents. Each violation includes a fine that must be paid either upfront, or when the property is sold, otherwise the fees will increase over time. Here are some examples of common code violations that occur when a property is vacant:
- High vegetation (weeds taller than 8”)
- Dangerous Buildings (fire damaged, unsecured, or a public nuisance)
- Outside Storage (Equipment, appliances, etc., must be kept from public view)
- Polluted or Unsecure Pools (Las Vegas Municipal Code prohibits stagnant, polluted water which endangers the health, safety and welfare of the public)
- Refuse & Waste (Junk/waste prohibited from any areas of a property)
- Wrecked Vehicles (Wrecked or junk vehicles must be removed from the property)
Delinquent Taxes on Real Estate
If you don’t pay your real estate property taxes to Clark County, the property will then be subject to auction, meaning bidders will have a chance to buy the property since you’ll no longer own it. More commonly than not, delinquent taxes are an issue for properties that sit vacant for a long period of time. Here are some examples of how homeowners get behind on taxes:
- Vacant property is not generating income, so taxes are unaffordable
- Squatters destroy the property, causing money to go into repairs instead of taxes
- Family member passed/probate & family is unaware of who is responsible to pay
- Divorce process/paperwork can overshadow property taxes
- Too many late mortgage payments/pre-foreclosure may overwhelm homeowner, causing them to purposely not pay and ‘leave it all behind’
- Live out of state and forget the responsibility of paying the property taxes
Gr8housebuyers® can buy any vacant house/property in Las Vegas, we make it easy for you to sell any real estate! Call Gr8housebuyers at 702-291-7577