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Condemned Houses: What They Are & What Happens to Them

You’ve heard the term “condemned house” before. But exactly does it mean? Has the house been condemned to death, and will be torn down with a new one built in its place? Has it been determined unlivable and the occupants must leave the home? Who determines that?

We’re going to answer those questions and more in this post. Keep reading to find out what a condemned house is and once labeled “condemned,” what happens to them.

What is a Condemned House?

When a government entity concludes that a home is no longer safe or fit to live it, a home is considered condemned. What this means is that the inhabitants of the home have consistently shown they are unable to maintain a healthy environment within the home, usually in the form of housing code violations. When you think of a condemned home, images of worn-down homes that are falling apart from the inside out comes to mind. However, a condemned home can look like a normal, well-maintained home on the outside, but there may be interior threats that are not visible from the outside.

old home

For example, black mold, extensive termite damage, and infrastructure failure can all condemn a home. When a home is condemned, the government may simply seize the property.

A perfectly fine home can even be condemned. There are laws in place in which public authorities can use what is called “eminent domain,” where a government can seize property, even if it is on private land, based on the property’s location. You may have seen on the news or read about the controversy behind this law, which is used when creating public projects, like a highway.

If a home is claimed under the eminent domain law, the owner of the home will receive an offer based on the appraised value of the property, to which the owner can then accept or decline. If they decline, they have to submit their own appraisal for the property, and the situation may be taken to court.

Can the Owner of a Condemned Home Fix the House?

They sure can! But it can be pretty difficult to do so depending on the severity of the home’s condition. Many counties will allow the owner to negotiate a repair agreement and once they make the necessary repairs, they will need to pass an inspection. If they pass the inspection, they may be able to reverse the condemned status of their home.

What Happens to a Condemned House?

When it comes to the fate of a condemned house, it may either be destroyed or as previously mentioned, restored and made livable once more. However, the owner of a condemned home can also possibly sell the home, although this is difficult to do as most home buyers are looking for a move in ready property. However, even offering the home at an extreme discount may not lead to any sales.

Another option is to work with Minnesota Home Guys when selling a condemned home. We’ll work with you to find a fair price for your home, and we’ll take the property off your hands no matter what the condition is, as long as it meets a few simple requirements.

When you sell your home to the Minnesota Home Guys, you can avoid the commissions and fees you’ll get when selling with an agent. You’ll get cash fast for your home and you can leave all the troubles of your condemned home behind you after the sale as we take it from there.

Give us a call today (952-649-3200) or send us a message through our online contact form and tell us about your home and your situation and we’ll get back to you soon on how we can help!

condemned houses

Which Option Works Best For You When You Want To Sell Your Home?

When selling a house in the Twin City area, most people immediately think about hiring an agent and listing the property on the MLS. This is a great solution for many people, however, you should know there are other options available to you. There are many ways to sell a house! Consider your options to discover which selling method is right for you and your situation!

Sell Directly to A Professional Home Buyer

You can sell your house without using an agent, ultimately saving a ton of time and money depending on the situation. Minnesota Home Guys is a company that will buy your house using a straight-forward and simple process. With a direct sale, you won’t have to worry about commission, repairs, cleaning-up or waiting for a buyer to come along. You will immediately know the amount you are receiving as well as the closing date so you aren’t left in limbo, wondering when your house will sell.

Direct sales are becoming increasingly popular, however, not all buyers are the same. Make sure you do your homework on both the local market and the buyer you are working with. A direct sale may not offer full price, but for some people, the amount saved on repairs and wasted time more than makes up for the difference in price.

List Your Home With An Experienced Agent

Of course, listing your house is an option. Take the time to learn about everything that is involved and what will be expected of you. No two agents work exactly the same and there are no guarantees. Your property can be listed for any price, but there is no guarantee you will receive it. Watch out for agents who try to “wow” you with a high listing price. If it’s priced too high, it will likely sit on the market, possibly for months at a time. You will inevitably have to lower the price, while your property drops down the list of homes available on the MLS. If you decide to list, make sure your agent prices your home to sell. Not just setting a high price to convince you to sign a listing agreement.

Offer Seller Financing

This can work for some people who don’t need the cash from the home immediately. You can elect to carry the note setting up a “rent-to-own” structure. Your tenant will “rent” the property at a higher than average price, with some of the money going toward a down payment on the home. They will then have the option to buy the property outright at the end of a certain period of time, typically around 2 years.

Consider Your Other Options

If selling simply isn’t in the cards and you need to move, there are other options. You can rent the house out as either a short or long term rental. The trouble with this can be finding great tenants and retaining them for as long as possible. Renters can be quite nomadic, and tenant turnover can cost you dearly. If you haven’t done this in the past, consider hiring a property manager to help you keep everything in order.

Do you want to sell your house in the Twin City area? Find out what we can do for you! Send us a message or give us a call today! (952) 649-3200

Just How Much Will Listing Your House Cost You?

The price to sell a house in Minneapolis can fluctuate greatly. It all comes down to the house itself, the needed repairs, the location, etc. Each agent will work a bit differently. Some will charge you for things, while others are “all-inclusive.” Before you commit to an agreement, find out what listing your house in Minneapolis will really cost you!

Upfront Costs

Cleaning

To create an environment that is appealing and welcoming, you will want to make sure the house is clean. You can do a good job yourself, but bringing in a professional to do a thorough cleaning of the house from top to bottom, can make the whole house look different. If you aren’t replacing the carpets or flooring, you will want to pay to have a professional clean those as well. Don’t neglect the outside. If you have a second story, it might pay off to hire a pro to come wash your windows!

Storage

Packing away all of your unnecessary items can be time consuming and just a pain. Personal possessions and clutter will not appeal to potential buyers. Having your items stored away will allow buyers a chance to envision themselves in the house. However, depending on how much you have, you may need to rent an offsite storage space or pod to hold your items, costing you money until you can move into your new home.

Repairs & Upgrades

Fixing and painting walls, replacing cracked tiles and smoothing floorboards are just the start of what may be a lengthy repair process when getting your home prepared to sell. You might also take this opportunity to make minor upgrades such as new fixtures or hardware. Spending money on these things can help improve the value of your home. You just need to be comfortable paying up front.

Landscaping

The front yard is the first thing people see. First impressions are everything when it comes to showings. If potential buyers pull into the driveway and see an ugly yard, it will leave a sour taste in their mouth before they even step into the door. Adding plants, flowers, new doors or fencing can help add a little curb appeal to your property.

While The House Is Listed

While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.

Monthly Costs

Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.

Marketing

Professional photos, including drone shots that capture the home from all angles can be even more money out of your pocket. To successfully list your house, you will want to ensure there are great listings and great photography of the home. You will also need to stay on top of your agent marketing wise. Are they posting the listing on social media? In the papers? In real estate groups? Some agents are great when it comes to marketing, but you need to make sure they are posting your listing on every avenue possible to get the word out.

After An Offer Has Been Made

Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your time-frame. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.

Negotiated Repairs

An inspection is required before the house and sold and if there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.

At The Closing Table

Commissions

Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.

Closing Costs

Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.

Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!

Interested in selling without the traditional listing costs? We can help! Send us a message or give us a call today! (952) 649-3200

Charity Spotlight: Military Warriors Support Foundation

 

For the month of January, Minnesota Home of Guys has chosen to donate 5% of all closing costs in every deal we make to the Military Warriors Support Foundation. The Military Warriors Support Foundation is a non-profit charity found by LTG. Their mission is to provide support and programs that facilitate a smooth and successful transition for our wounded heroes and Gold Star families. While it can be a difficult process for many, the Military Warriors Support Foundation offers a wide variety of programs that focus on things such as housing and homeownership, employment, recreational activities, and transportation assistance.

Through their Home4WoundedHeroes program, the foundation awards 100% mortgage-free homes to combat wounded veterans and Gold Star spouses of heroes who have fallen in combat. Also, each family receives three years of family and financial mentoring so that they can learn the skills necessary to become successful homeowners

Their Skills4Life program the foundation offers different recreational programs such as golf outings, as well as hunting and fishing trips. This program gives families an opportunity to bond and develop relationships with mentors and fellow heroes in the great outdoors.

Being in the real estate industry, this really hits home to us and we couldn’t be happier to back a foundation that gives homes to our nation’s heroes. With one of our owners, James Kolde spending time overseas in Iraq and Afghanistan as a civilian firefighter our goal is to give back to those that make the ultimate sacrifice for our country. If you would like to make a donation to the foundation, or learn more about it and how you can get involved, please head over to militarywarriors.org.

 

How to Sell an Ugly House in a Month or Less

So, you have an ugly home, and you’re not quite sure what to do. You know that you want to sell, and you also have to sell fast. It can be a tough spot to be in, and many Americans are currently finding that in today’s housing market, it can be hard finding a buyer for a home regardless of the quality. However, there some definitive steps you can take that can help improve the possibility of you selling your ugly home, and fast.

If you’re in a pickle and need to sell fast, follow these tips to help sell your home in no time.

Be Realistic About Cost

When it comes to selling an ugly house, you have to recognize that you are not going to be able to sell it for anything higher than the actual value of the home. So, if you want to get the house off your hands, you must be willing to sell the home at a fair price, most likely slightly under the actual value of the home.

Improve the Best Parts of Your Home

Instead of spending a lot of money trying to fix up the worst parts of your home, try and highlight the areas of your home that are already in good shape. You can make these areas a strong selling point to potential buyers, who will already view the home as a fixer-upper. By making your home’s best features better, potential buyers will see that as one less home improvement project they have to take on.

Be Transparent

When people are looking through your home, they’ll likely have a lot of questions, and no matter what condition your home is in, you should be honest with your responses. Home buyers tend to be skeptical by nature, and they’ll likely be able to tell if you’re lying. So when they ask about the condition of a certain appliance or area of the home, take the high road and be transparent with them. They’ll certainly appreciate the honesty.

Clean, Clean, And Clean Some More

A clean home will help give off the impression that the home is being taken care of, and that every effort is being made to keep the home in live-in conditions. So, break out the mops, brooms, window cleaner, and put in some extra time scrubbing out some of those grime stains. Or, hire a professional cleaning service to get in there and do the dirty work for you.

On top of this, make sure that your yard is in good condition as well. You don’t have to go all out and take on a professional landscaping project, but mowing the lawn, picking up sticks, and racking leaves can all go a long way in terms of getting someone to buy your home.

Remove Clutter and Most of the Furniture

Similar to cleaning the ins and outs of your house, your home will look more livable if you remove clutter, personal knick-knacks and other items that you know potential buyers will get rid of anyway.

By getting rid of most of the furniture, viewers of the home will be able to envision themselves in the home and can map out their own layout of how they want everything to look. Staged homes limit a potential buyers ability to think creatively about how they would design the layout of the home.

Appeal to Flippers and Cash for Homes Buyers

You don’t have to go the traditional route when it comes to selling your home. Flippers and cash for home buyers will jump at the opportunity to take your ugly home off your hands. While you may not get your exact asking price, you’ll sell fast and get cash immediately for your home.

Trust in MN Home Guys When You Need to Sell Your Ugly Home

Selling an ugly home doesn’t have to be difficult. With Minnesota Home Guys, you can get rid of any ugly home fast, and for a fair price. Check out some testimonials from past clients and contact us today to set up a meeting and if your home meets our requirements, we’ll get started on the buying process immediately.

Avoiding Foreclosure: How to Keep Your Home in Your Hands

Foreclosure is a scary proposition for anyone. The home is where the heart is, and it’s tough for any family to pack up and find a temporary place to stay while you try and get back on your feet.

If you don’t want to ever deal with the bank trying to strip you of your home, then follow these helpful tips to make sure that your home stays in your hands, where it belongs.

Don’t Ignore the Problem

This is one issue that you cannot afford to put off. If you recognize that your home is underwater (that the equity of your home is less than what you owe on the house), then you need to act quickly. Refinancing is a possible option and one that works for many people who find themselves in this situation. Another potential option is to sell your home early before the home’s value falls even more. This is a tough choice to make, but if you believe that you can’t afford the necessary costs going forward, then it is the smart choice to make. A financial adviser can work with you to make the right decision. 

One reason many face foreclosure is due to the loss of a job. If you ever find yourself without work, reach out to your lender immediately and discuss your situation. Despite what you may think, lenders do not want to take your home from you. They’ll work with you to reduce monthly payments until you get back on your feet, or they may even suspend payments altogether.

So, if you ever find yourself in a tough situation, be proactive and don’t be afraid to seek help from a trusted professional.

Understand Your Mortgage Rights

mortgage rights
Courtesy of Credit.com

While hopefully, you have a firm grasp on the details of your mortgage, it’s a good idea to refresh yourself as soon as you see yourself potentially falling into foreclosure territory. Seek out your loan documents and read them thoroughly so you are aware of what may happen if you don’t make your payments.

You can use this helpful resource if you have any questions about your states foreclosure laws and time-frames, which varies state by state.

Budget Wisely

Budgeting smartly in times of financial distress is easier said than done. But even creating a rough outline of a budget can help you understand your finances and the moves that you must make with your money to maximize the amount you can put towards your mortgage. Any monthly memberships or entertainment payments, or other expenses that you can do without should be the first costs you cut.

Take Inventory of Your Assets and Use Them

assets
Courtesy of Dallas Divorce Law blog

Do you own a second car, jewelry, or anything else that you can live without? Selling these assets can help you reinstate your loan. Is there another member of your home who can acquire a job, or a second job, to help bring in additional household income?

While these actions may not increase the overall income in your home by a lot, it will at the very least illustrate to your lender that you are willing to do what it takes to keep your home.

Be wary of Foreclosure Scammers

There are some people out there who will pretend to be someone you can trust and that they can help you avoid foreclosure, but will end up tricking you into becoming a renter in your own home. Check out this list of approved housing counselors courtesy of the Department of Housing and Urban Development. Before signing any legal documents, make sure you speak with an attorney, a real estate professional, or a trusted financial advisor.

Minnesota Home Guys – An Efficient Option

At Minnesota Home Guys, we help people who are nearing foreclosure but don’t want to lose their home for an unfair price. We’ll buy your home from you, for cash, fast and efficiently so you’ll get a fair price for your home, as opposed to having it taken from you.

If you want to sell your home quickly, contact us today and we’ll work with you to avoid foreclosure and get you cash for your home.

Dale Helm
Dale Helm
12:55 08 Jan 18
I highly recommend the Home Guys if you are looking to sell your home. The process was very streamlined, transparent, and straight forward. I worked directly with James whom I found to be a very honest, caring, and ethical businessman.James truly cared about our needs and listened to our concerns. Because of James our dream of a new home became a reality. A huge selling point for us was the fact that this transaction could occur far faster than a normal one, without realtor fees, closing costs, or the typical red tape.We had never done this kind of thing (selling to a home improvement company) but now that we have - we are really glad we did. It was the right move for our situation. If you are considering selling your home to a home improvement company (flipper) I do not think you will find a better one than the Home Guys - I give them the highest of ratings.
Dana Rankin
Dana Rankin
22:22 23 Sep 18
Great team awesome company!
Julie Amber Gianera
Julie Amber Gianera
15:20 14 Jan 18
Easy, easy, easy! I highly recommend MN Home Guys and would absolutely use them again. It was about two weeks from first contact to close, and then closing only took 15 minutes. Great company, wonderful service.
Brian Tucker
Brian Tucker
20:30 09 Jan 18
Easy to work with, very reasonable offer for my property, easy closing. Great doing business with them!
Brent Brent
Brent Brent
09:25 10 Jun 17
I contacted to Minnesota Home Guys to purchase our first home and really can’t say enough about them. They are knowledgeable, approachable and very professional. Buying a home in this market is challenging, but working with Minnesota Home Guys made it as painless and straightforward as possible. I would highly recommend them.
Grant Jones
Grant Jones
10:11 03 Jun 17
One of the best and fast services provider. They provided me a fair price for my house. I am totally satisfied. Thank you!
Andy & Mandy Fobear
Andy & Mandy Fobear
17:28 29 Mar 19
They have been a great team with who we have done work. Very nice, honest and genuine. "Do things right" is what they have said AND done.
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