Glenn and Norma Sold a Vacant, Problem Rental in Sioux Falls – For Cash!
Anyone who currently or in the past has owned a rental property knows that things can go wrong quickly. A couple on the north side of Sioux falls had a rental property that had become vacant and was becoming a huge problem.
Before it became a rental property, Glenn and Norma lived in this house themselves for many years. They upgraded to a new house and kept their old home to be used as a rental property. Smart right? Well after letting one tenant stay in the house for 4 years, they found themselves with an empty house that had been absolutely destroyed and needed $50,000 worth of work to bring it back to life. Yikes.
The house was in rough shape and needed a lot of clean up before it could possibly be listed on the MLS and they did not have the time, energy, or money to do any repairs. All of their children and grandchildren live out of state and they had nobody who they could trust to help them with the vacant rental here in Sioux Falls. They found themselves with a problem with no solutions available to them.
What were they supposed to do? Should they let the house sit vacant in Sioux Falls forever?
Absolutely Not.
Fortunately, they had a neighbor who cared about them and gave us a call. MetaStone Property Solutions reached out to Norma and met with her the next day at her vacant rental home. The house had not been updated in 30 years, needed a roll off dumpster, and all new siding. They did not have a mortgage left on the house at all and wanted to walk away from the huge project as soon as they possibly could.
A problem rental like this costs people money as well as being a liability problem. A vacant rental is just another bill when the property taxes come due and is a problem waiting to happen. We wanted to take this Sioux Falls problem property off their hands and gave them an all cash offer, bought their property as is, and closed on it 3 weeks later. This vacant, problem rental in Sioux Falls was no longer their problem after we made them their offer- they did not have to pick up one piece of trash, mow the yard, or even visit the property again. Basically, all their problems with this vacant rental in Sioux Falls were gone and in exchange they received cash for their home.
This home in Sioux falls had no liens, unpaid taxes, or other unaccounted for problems that they did not make us aware of when we first met with them. Three weeks after meeting with Norma and Glenn we closed on their vacant rental through a title company here in Sioux Falls.
This retired couple right here in Sioux Falls never saw themselves with a problem and vacant rental, but life lead them to an unexpected bump in the road. I am thankful their neighbor reached out to us here at MetaStone Property Solutions in Sioux Falls so we could help them with their problem property, or who knows where the couple would be right now.
Problem rentals and vacant homes here in Sioux Falls do not have to continue to be a problem for owners. If you or someone you care about is having an issue have them call us here at MetaStone Property Solutions in Sioux Falls, and we will see you tomorrow.