The Perils of Owning a Vacant House
You moved out of state for a new job opportunity three months ago, yet the place you once called home sits idly awaiting an interested buyer. At first, you thought nothing of leaving your house empty; it’s a seller’s market and you figured it would sell quickly. Now you’re getting anxious about the delayed sale, and you’re wondering about the potential liabilities of leaving your home empty for too long.
You should be worried because vacant properties present unique risks, which is all the more reason why you should be exploring ways to sell your home fast in Winter Garden, FL.
Assess the Risks
Owning a vacant home is risky. The longer it sits unoccupied, the more your risks increase. The most prevalent risks that come with owning a vacant property include hazards such as:
- Fire, lightning, or explosions
- Wind or hail damage
- Water leaks and damage
- Break-ins and vandalism
Not only will these risks cause damage to your home, but they will also create liabilities for you that could get you sued. Your standard homeowners insurance policy does not cover your home if it is left vacant for an extended period of time. Speak with your insurance agent about specialized options such as vacant and unoccupied insurance coverage. A vacant insurance policy will cover you in the event that your home is damaged or if someone is injured on your property.
Tips for Managing and Protecting Vacant Property
If your property will be vacant for a prolonged period of time, the following are proactive ways to safeguard yourself against risks and liabilities.
Perform regular maintenance: Schedule periodic inspections and perform regular maintenance on your HVAC system, plumbing system, and the roof to decrease the chance of damage resulting from water leaks, frozen pipes, and mold damage.
Prevent fire: Keep the home free of fire hazards such as combustible chemicals, cardboard, or any fire-prone debris.
Beef up your security: Install a home security system with a loud alarm and add exterior lighting. Enlist the help of a trusted neighbor to keep an eye out for intruders.
Maintain an occupied look: You want to deter thieves or squatters from targeting your home. Keep furniture in certain parts of the home, continue landscaping services, stop mail or have a neighbor collect your mail, and keep a car parked in the driveway.
Eliminate hazards: Fix anything that is broken and could potentially injure someone trespassing on the property.
If the stress of managing a vacant property just isn’t worth it to you, consider selling your home to Ledge Real Estate Solutions. Our professionals will purchase any home in any condition for a fair price. When you sell to us, you will get an offer in a little as 24 to 48 hours.