Many people wonder if it’s possible to sell a hoarder house and if so, what does the process look like? Yes, it is possible to sell a hoarder house, but it can be more challenging compared to selling a well-maintained property for some obvious reasons. A hoarder house refers to a property where the occupant has accumulated an excessive amount of belongings, clutter, and often unsanitary conditions. There is so much stuff in the house it is impossible to clean and maintain the property. Selling such a house requires careful planning and consideration of various factors. Here’s what you need to know:
- Cleanup and Organization: Before listing the hoarder house for sale, it is essential to thoroughly clean and organize the property. Removing clutter, garbage, and debris will improve the house’s appearance and make it more appealing to potential buyers. This is often no easy task. A hoarder house isn’t going to require a construction dumpster, it will require multiple construction dumpsters to clear everything out. That isn’t the end of it though, once you clear everything out you’re still left with a house that has not been properly maintained in some time and well need some degree of renovation or restoration.
- Repairs and Renovations: Hoarder houses usually have underlying maintenance issues that need attention. Addressing any structural, plumbing, or electrical problems and conducting necessary repairs will increase the property’s value and marketability. That again requires emptying the house out and then hiring a contractor to do repairs on the house, a whole new ball of wax.
- Professional Cleaning Services: Depending on the severity of the hoarding situation, you may need to hire professional cleaning services that specialize in hoarding cleanup. These experts can handle the process sensitively and efficiently, ensuring the property is safe and presentable for potential buyers.
- Disclosure Requirements: When selling a hoarder house, it is crucial to be transparent about its condition. In Louisiana, sellers are legally obligated to disclose any material defects or issues with the property that they are aware of. This includes informing buyers about the hoarding situation.
- Pricing Considerations: Price is always a factor of a few ingredients. First is market conditions, such as supply/demand, interest rates, insurance, etc. Next is location. Last is condition. Hoarder houses may sell at a lower price compared to similar properties in better condition. Buyers often expect to invest time and money in cleaning and renovating, which may impact the property’s value. Unless you are willing to put the time and/or money into clearing out the house and renovating it, the property isn’t going to sell for what other properties in good or excellent condition will fetch. This is where a professional home buyer can come into play. They will make you a cash offer and more importantly it will be as-is. No need to lift a finger.
- Targeting Investors: Hoarder houses may be more attractive to real estate investors who are accustomed to dealing with distressed properties. Investors may see the potential value in buying at a lower price, renovating the property, and reselling it for a profit. That is what professional home buyers are used to doing. What may look like a mountain to you may only look like a hill to an experienced home buyer.
- Patience and Understanding: Selling a hoarder house can take longer than a typical property sale if you go the conventional route. Many buyers will be eliminated from your pool regardless of price or location simply because they don’t know how or don’t want to take on the task of clearing and renovating. A professional home buyer will be much more willing to take on the task of a hoarder home, will make a cash offer and will buy as-is, alleviating you of all stress, headache and most importantly liability.
If you are dealing with a hoarder house and considering selling it, it’s advisable to work with a professional home buyer. Owner occupant buyers and those buyers not experienced with repairs and renovations are going to be unlikely candidates to purchase a hoarder home. Additionally, most banks will not lend on properties in such a condition so unless buyers have their own cash to purchase the house with you may end up wasting a lot of time. If you have a house you are thinking about selling, or just have questions about us, the process, etc, fill out a form at www.nolabuyshouses.com or give us a call at 504 264 1407.