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We’re heading toward the final quarter of 2018 at South Tampa Teardowns we had some big milestones this year… serving our 80th family… and closing our 100th lot since 2014.
We are proud to have helped a number of families sell a property to a South Tampa Builder this year.
We wanted to share some of the reasons that families are working with our team to get their properties sold for a fair price to a South Tampa Builder. If you’re in one of these situations, you should know that you’re not the only one and we can help.
This is by far the most popular scenario. Families that have lived in South Tampa for generations have seen their neighborhoods really grow and develop over time, and while it can be a tough decision to sell the home where you raised your children or even the house you grew up in… sometimes it just makes sense to cash out by selling to a builder.
It can cost a lot of money, tens of thousands of dollars… to replace a roof, update electric, install a new kitchen, add a bathroom, or complete any numbers of changes that might be suggested by a Realtor to get top dollar for your property on the retail market.
Also, there is no guarantee that after all of that time, money, and effort that the investment in your property might pay off.
When South Tampa property owners know a big repair and update bill could be coming, they will often request an offer from a South Tampa Builder and find out what they can get for their house in the AS-IS condition.
As larger and larger homes become more and more popular. Smaller homes, under 1500 or 1000 SF find it harder and harder to compete.
If these homes only have a single, small bathroom or no garage, it might not matter how much money is invested in updating the property, you might never get top dollar for your neighborhood without spending thousands of dollars adding additional space and parking for the property.
Many homeowners, especially at the end of a properties’ useful life, will not wish to make this investment when they discover that the land value will allow them to sell the home at a fair price without this substantial expense.
I can relate to this story, as I made sacrifices growing up to attend the best schools I could.
Many families in South Tampa are living in older, smaller homes so their sons and daughters can attend Plant or Robinson High School. Perhaps they would have preferred a newer home in the suburbs, but they are dealing with plumbing and termite issues today, so their kids can have a better education.
Here is a video I put out around graduation time in 2017 that talks about families who made this decision and what comes next as their kids head off to college and the work world.
This is the saddest scenario, but it is a common one as well. Often times we work with families who have inherited property they need to sell in South Tampa. We have a lot of experience to make sure the process is completed as smoothly as possible, with respect for everyone involved. If Mom and Dad are still alive, please encourage them to take the time to get a will or establish a trust.
That said even if there is no will, even if there are a lot of challenges in the family regarding selling the property, we have the resources to get you the help you need so you can get the property through the probate process and sell to a South Tampa builder.
Here is a video where I helped a family sell one of the last pieces of a substantial portfolio that they inherited.
This is often the story in the last 4-5 months of the year. While you could be one or two years late on your county property taxes and not be at risk of losing the home. Once the property is three years late, a tax certificate holder can apply for a Tax Deed Sale. This can result in an auction and the subsequent loss of your property. Once this process starts, you need to move quickly and know that you are working with a buyer who is ready to close.
We have literally closed deals in the middle of a tropical storm due to the fact that the property was literally days away from being sold at auction. Had the seller not made the decision to sell when they did, they may have lost the property and a substantial amount of money that is over six-figures.
If you haven’t paid your property taxes since for the last few years, and can’t pay them today… please call me as soon as possible… 813-784-4199. I can’t be blunt enough. YOU NEED TO SELL OR YOU MAY LOSE YOUR PROPERTY!
Code enforcement fines can really get out of hand if there have been ongoing problems at the property for a number of years.
Unmowed lawns and inoperable vehicles can lead to numerous penalties and liens on a property for amounts as much as $20,000 or more if left unpaid for several years. Every day a code enforcement fine goes unpaid can result in additional interest being added to the lien that MUST BE PAID before the property can be transferred to a new owner.
When you are in this situation, it is critical to work with a buyer who can move quickly to purchase your property so you don’t have to worry about the fines getting higher and higher as time goes by. We can even help by negotiating those liens from Tampa Code Enforcement once you decide to work with us at South Tampa Teardowns.
We covered the stress of eviction and other issues regarding selling a rental property in a previous blog post.
Often times when the decision to evict is made, or a long term tenant has decided to move on, a family will choose to sell to a builder rather than deal with the hassle of restoring and renting the property to a new tenant.
The most popular posts on our blog have been our market updates, where we share what builders are paying for houses in South Tampa. Posts like this one, that shows recent sales to South Tampa builders, can generate hundreds of visits to our site.
When these users discover that lots like theirs are selling for top dollar in their neighborhood, it’s almost a no-brainer to get an offer from South Tampa Teardowns. These regular updates can help you set a fair asking price, and we can in turn quickly put a fair deal together for your family.
Updating an older home can quickly cost tens of thousands of dollars, and when listing and selling a property can lead to commissions, closing costs, and other expenses that exceed 9% of the purchase price it’s easy to see how getting a net to seller offer, where the buyer, a South Tampa builder who wants zero repairs and pays for all commissions and closing costs, can put more money in your pocket.
Another thing we are hearing this year… is that you can buy a lot of house in places like Valrico, Riverview, and Wesley Chapel for the price of a lot in South Tampa. This is allowing a lot of families to live closer together and a number of grandparents to spend more time with their grandkids.
It doesn’t matter if you’re paying for commissions, repairs, and closing costs, or 9% total for the ‘experience’ of a quick offer with a ‘FREE’ local move. It can be confusing and costly to sell a teardown via a traditional real estate listing or to a company who might charge you 9% for commissions and fees when you don’t have to.
If you were to get an offer for $250,000 from South Tampa Teardowns and Robert Wilson, Director of Dirt at EXIT Bayshore Realty, you will get up to $250,000 cash at closing. You won’t get $223,625, you won’t get $226,000… you will get $250,000 assuming the property is owned free and clear of any liens and the property taxes are paid through the date of closing.
The only costs you will have will be any outstanding liens on the property (like a mortgage, if any) and your share of any prorated property taxes. Title fees, doc stamps, commissions, other costs traditionally paid for by the seller in Hillsborough County… are covered by the buyer. There are no accounting games where these costs are shifted back to the seller by calling them something else.
There is nothing wrong with making a profit, we help people solve problems every day to make a profit. That said, we feel our net to seller offer program where you can sell directly to one of our builders, gives you a simple solution to your real estate problems, where you can often put more money in your pocket.
If any of these scenarios sound like a situation that your family is talking about today, I am here to help. My name is Robert Wilson, I’m the Director of Dirt with South Tampa Teardowns and EXIT Bayshore Realty. We’re a member of the South Tampa Chamber of Commerce and the Tampa Bay Builders Association.
I want to bring you a no-obligation cash offer from one of my builder partners and you won’t have to worry about commissions, repairs, or closing costs.
If you have a property you are hoping to sell… Call me today at 813-784-4199… if I’m busy helping another family you can also request your offer online at www.SouthTampaTeardowns.com.