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How Much Your Empty House in Knoxville is Really Costing You

If you think holding onto an empty house is cheap, you're in for a big surprise.
The Cost of Having An Empty House In Knoxville Is More Than You Think.

Your home has already been listed on the market and you have already spent the profits in your imagination. What is the estimated amount of money you’ll need for the house before it sells? Would it cost more if the house stayed on the market longer? Keeping your property on the market can be costly. The wait can be agonizing if you are in a hurry to sell for financial or personal reasons. If your budget is already tight, spending money on preparation for showings, including painting and updating the decor, staging the home, and marketing the home, may be beyond your means. In order to have a high-quality listing online, you need to hire professionals for aerial footage and high-quality digital photography.

It is possible for a house to stay on the market for a long time for a number of reasons. This may be due to the buyer’s financing falling through, the house being in a deteriorating condition, the price being too high, or it may be due to the property being out of step with the type of property buyers are seeking, or the property stands out from the surrounding properties. Whatever the reason for your empty home lingering on the market, the longer it remains on the market, the lower the price will be. Read on to find out how much your empty house in Knoxville is costing you. 

Monthly Expenses

In addition to your mortgage payments, your empty house in Knoxville is also costing you in utilities each month, and your agent wouldn’t appreciate it if they couldn’t turn on the lights during a showing. Unfortunately, when you list with a real estate agent, the one thing they can’t provide is a closing date, so these charges could continue for several months, putting a big dent in your profits. By selling directly to East Tennessee Home Buyers LLC instead of listing, you can stop the slow leak of funds for continual monthly utilities; we offer guaranteed closing dates, usually within weeks.

Insurance and Taxes

Ongoing taxes and insurance are another way your empty house in Knoxville is really costing you. The taxes owed will be prorated and taken out at closing; you can calculate this amount by dividing the total annual bill. Naturally, you will need to keep your homeowner’s insurance in place during the listing duration. Depending on the amount still owed on an existing mortgage, 80 percent or more, you will need to add PIP private mortgage insurance to your tally of holding costs. Working with a direct buyer from East Tennessee Home Buyers LLC is another option that will allow you to pay your taxes off and end the ceaseless insurance payments is working with a direct buyer from East Tennessee Home Buyers LLC.

Repairs

If there are obvious signs of disrepair, your empty house in Knoxville is really costing you more than you could imagine. Buyers are scrolling by listings at lightning speed, and you need to catch their attention with your marketing. If you can’t afford to make necessary repairs and the home’s condition is evident in your listing photos, you aren’t likely to get many offers. In this case, any offers you receive are very likely to be far below your home’s actual market value. When it comes to starting repairs on the house, especially if it is an older home, it can be highly stressful and become very costly because you never know just what you may discover as you dig deeper into the project. At East Tennessee Home Buyers LLC, we’re ready to buy your home for cash in as-is condition. Let the direct buyers from East Tennessee Home Buyers LLC relieve you of the risks of making repairs on your property and allow you to keep more of your money in your wallet.

Maintain

Maintaining your empty house in Knoxville is another often overlooked expense. If you made a long-distance move for work or personal reasons, you might be paying to travel between residences, which is costly and stressful. Alternatively, you may be paying to have your property watched over, with regular checks for signs of trouble and care for your landscaping.

When you add up the holding costs, it makes sense to sell your empty house in Knoxville directly to East Tennessee Home Buyers LLC and keep more of your profits. You’ll save even more by working with the direct buyers at East Tennessee Home Buyers LLC, we never charge commissions, and you won’t pay any closing costs. In addition, our transactions at East Tennessee Home Buyers LLC are straightforward and fully transparent; there are never any hidden fees; we show every figure used in our offer, which you’ll agree is a fair market value. The direct buyers at East Tennessee Home Buyers LLC won’t pressure you, we are proud of our work helping our community and neighbors here in Knoxville, and we want you to feel good about the deal long after closing. Call East Tennessee Home Buyers LLC at (865) 935-8680.

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