Sand Springs homeowners can feel trapped when they own a home they have no use for anymore. Not only are they stuck in one place, but they have to keep paying the expenses associated with owning their home.
What is the solution? Several factors determine the best course of action to take in these situations. Let’s discuss the five best things to do with your unwanted house in Sand Springs, OK.
Thinking, “I need to sell my Sand Springs house fast for cash?” Just call us today to discuss what we can pay for your house. 918-297-6222
1) Invest in a Home Renovation in Sand Springs
Sometimes it can be a good investment to renovate a house in Sand Springs, Oklahoma. But first, do some research on the property values in your neighborhood. Then get an inspection done to determine the cost of fixing up your house, including the cosmetic flaws. If you can manage to increase the value of your home after spending money on renovating it, then perhaps you could sell your home for a lot of money. Either that or you may decide that you actually want to stay in the house now.
2) Rent Out Your Sand Springs, OK Home
Do you own a vacant home in Sand Springs? Don’t just let your house sit unused. Why not turn your vacant house into a passive income generator? If you rent out your unwanted and unused house to a qualified tenant, you could earn monthly rental income on it.
However, you must screen your potential tenants carefully. So many landlords make the mistake of renting out their properties to tenants too quickly without vetting them. If you end up with the wrong tenant, they could damage your property or stop paying rent. Then you’ll have to spend money on repairs and possibly going to court to evict them. These expenses will significantly eat into the profits you were hoping to make as a landlord.
If you don’t feel confident that you can screen applicants and manage tenants by yourself, you should hire a professional property manager to do these tasks for you. Even though a property manager will charge a fee for their services, it is worth the money. A property manager can find you qualified tenants and deal with them for you. There is no easier way to rent out a house in Sand Springs or West Tulsa.
Almost every unwanted home in West Tulsa can be sold quickly. But you shouldn’t just rely on an MLS listing or a real estate agent to find qualified buyers for you because the sales process is lengthy and costly. You can sell your West Tulsa home much faster with a direct home buyer.
Direct house buyers are private real estate investors who will pay slightly less than retail value to purchase a home in any condition. You might think you’re losing out by not getting retail value. However, think about all the expenses you won’t have to worry about by selling to a direct buyer. There will be no closing costs, realtor commissions, title company fees, closing costs, and advertising fees.
More importantly, you won’t have to keep making your mortgage payments, property tax payments and other expenses associated with homeownership. You can sell your home right away and save thousands of dollars by no longer paying all these expenses.
4) Give Away Your West Tulsa Home
It can feel painful to give away something as big as a house for free. But in some cases, it might be the only way to get rid of a house. For instance, if your house has severe damage and requires expensive repairs, you might be better off giving your house away rather than trying to sell it. Especially if you are racking up property taxes every month that will need to get paid eventually.
Giving away a West Tulsa home can also have tax benefits too. If you donated your West Tulsa house to charity, you could claim significant deductions on your income tax return. And, of course, donating a house is a great way to help other people who are less fortunate than you. Think about how good you will feel knowing that your home will be used to help people in need.
5) Hold Onto Your West Tulsa Sand Springs House
You could hold onto your house and wait for the property value to increase. Although, this isn’t always the best thing to do. Your monthly and yearly homeownership expenses will add up quickly if you wait too long. Plus, there is no telling when property values will rise. It could take several months or years for property values to change for the better.
Before you make this decision, keep an eye on the market trends in your neighborhood. See if the sales prices of houses in your area have increased over the last six months. If so, then you might benefit from waiting a few months to sell your house. But if you don’t see this trend, then don’t wait to sell your home. We buy houses in Tulsa and will give you a cash offer for the house right away.
Are you looking for a fast and legitimate way to sell your home in West Tulsa, OK? If so, why not schedule an appointment for us to see your property? You are under no obligation to sell your house to us. We will simply conduct a quick walkthrough of the property before offering you a cash price for it. If you accept our offer, we will cover all the closing costs and procedural activities. You won’t have to do anything other than showing up on the closing day to collect your cash payment for the house.
This website does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.