Selling a Vacant House in the Tri-Cities

If you’ve only been vacant for a couple of months… then you’ll have no issues selling it.

However, the problem exists when you have missing/broken items (even small) where no bank will loan on the house. And if a bank doesn’t loan a property, no traditional buyer can purchase it. 

Here’s a list of “property criteria” that a bank needs to see before lending on it:

1. No termites or wood-destroying insects 
2. No damage to the roof
3. No damage to the exterior (cracks in walls, beams showing, compromised wall, etc)
4. No foundation damage
5. No loose wiring
6. No exposed electrical
7. All utilities are functioning properly
8. Must have safe and reasonable access
9. The heating system must be operating normally and heat the house properly
10. No chipping or peeling lead-based paint
11. Adequate access to crawl spaces and ventilation in crawl spaces
12. Properly functioning water heater
13. Access to tap water
14. No mold or any other health concerns (like animal or human feces)
15. No safety concerns (like having a steep staircase without handrails)
16. Must be considered “marketable” (Can it sell? Is it pleasing to buyers?)
    

If any one of these is “broken”, then can’t get a buyer to get a loan on it until it’s fixed. 

To figure out beforehand, if you need any crucial items fixed before listing…  then, it’s best to get an inspection done (Usually costs anywhere from $250-$500), so you can get a list of things to tackle. 

Liabilities of keeping a vacant house

Let me encourage you to not let your house sit for too long… 

Vacant homes get riskier the longer they sit. They can attract squatters, vandalism, and theft, and an unsecured house can draw code-enforcement notices and higher insurance costs. There is also a real liability concern: a property owner can face premises-liability exposure if someone is hurt on the property, and the law gives special weight to children injured by hazards on a vacant property (the attractive-nuisance doctrine). These situations do turn up in the local news now and then, and they are a strong reason not to let a vacant house sit empty.

This can be a tough one especially if you’ve got a bit of updates that need to be done, or any bank loan-required items are missing. 

In order to get a value of your house, you need to find similar homes like yours in size and condition that have recently sold in the 6 months to 1 year. But the problem is that a lot of vacant homes (that need work) don’t typically sell in the open market. They sell off-market to investors or family members.

Just know, that if your property needs work done, the house will be worth significantly less than the updated retail homes selling on the open market. 

NOTE: check out our article on “how to fix a property and what items are work remodeling”

If your house won’t be able to sell to a traditional buyer (a family looking for a “move-in ready” home), then your only option is an investor. 

They are usually the only ones willing to fix up a house (sometimes you find a family that loves rehab projects and have the type to fix up their primary residence, but they are rare to find).

So with that, you have two choices: 

1. Sell on the open market waiting for an investor to make an offer — (Investors on the open market typically buy at a big discount AND you still have to pay closing costs and agent fees)
   
2. Or… Sell it off-market to an investor, without an agent — (there are SOME investors that go directly to the property owner (like us), who’ll make you a fair cash offer with no agent fees or commissions attached. 

“Todd and his company are great to work with and can handle even the toughest of projects. If you are looking for a local home buyer that you can trust and rely on to keep the selling process easy — Todd is who you want to call!”
— Christopher Logan, Richland  ★★★★★ Verified Google Review

Get a no-obligation cash offer on your vacant house:

Want the full rundown first? Read our guide: How to Sell a Vacant House in the Tri-Cities.