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Selling Your Home Due to Bad Neighbors

It is often said that the most important factors when choosing a home to buy are “location, location, and location.” This axiom has become a worn-out cliché of the real estate industry, but it’s also very accurate.

When buying a home, savvy buyers will look to areas where values are improving, where school districts are good, and where parks and amenities are close by. Whether it is your first home or your dream home, finding the perfect property will involve some combination of these factors. Unfortunately, bad neighbors exist in every neighborhood and at every income level.

It doesn’t matter whether you live in a historic neighborhood, a brand new subdivision, or a gated community – bad neighbors can and do exist in many areas.

 

Signs of Bad Neighbors

Trash strewn about a front yard is often a telltale sign of bad neighbors

One of the first signs of trouble with neighbors starts with the curb appeal of their house. A front yard with weeds, long grass, and un-trimmed plants and trees is a sign that regular maintenance is not being done on the house. A pile of newspapers in the driveway or trash piled at the curb weeks or months before the bulk trash pickup date looks unsightly as well. Items such as burglar bars over the front windows not only look unappealing, but can give an impression to passers-by that this is a rough or bad neighborhood.

Sometimes, bad neighbors will do things that annoy you as a homeowner, but are not expressly prohibited by the law. This may include frequently having parties or get-togethers, frequent yard sales, or having cars parked along the street constantly. Other examples include parking boats, trailers, recreational vehicles, or old junk cars on the side of their property. While it is irritating to see these items that never move, they may not be in violation of City Code – leaving you little recourse as a homeowner on the same street or block. The same goes for actions such as frequent outdoor grilling, or playing loud music/using power tools before the city’s noise restrictions are in effect.

Then there are things your neighbors might do that are in clear violation of local ordinances – incessant barking dogs, green swimming pools that are a breeding ground for mosquitoes, or trailers/vehicles parked in the front yard. Cars with expired license plates are often prohibited from on-street parking in many areas.

 

The Impact of Bad Neighbors

Junk cars are not just unsightly, they can also bring down property values of surrounding homes

There are many ways that neighbors living in close proximity can get on each other’s nerves, from parking issues and noise complaints to unkempt yards and more. But what is the impact of these actions on the surrounding homes and their property values? As you might have guessed, a single “problem” home can impact the value of homes around it. A neighborhood with several problem homes can bring down property values in the entire area.

Bad neighbors are also a nuisance to live near, especially if your home is located directly next to or in front of their property. The issues of noise, appearance of their home, and issues related to parking can become frustrating in a hurry. This can reduce the desirability of your home to potential buyers, even if you are located in a prime area close to good schools, parks, and shopping centers.

 

What to Do about Bad Neighbors

When dealing with annoying neighbors, there is no guaranteed method of correcting their offending behavior. The first step should be talking to the neighbors about the issue, such as when they are getting their mail or walking their dog. You could kindly let them know that their junk car or messy front yard needs attention – and they may surprise you with a valid explanation such as a disability, injury, or financial hardship preventing them from resolving the issue.

If talking to the neighbors does not work, you may be able to report a City Code violation to your local town or municipality. Many local governments have a Code Enforcement unit that will conduct inspections and give fines for things like tall weeds, unregistered cars, and loud noises after a certain time (usually 9pm to 11pm in many areas).

As a final resort, you may consider moving houses to escape from bad neighbors. This is an extreme example, but many homeowners may feel they are out of options after dealing with irritating behavior from one or more neighbors. An obvious problem such as living next door to a hoarder house will present problems when selling the home through a traditional realtor.

Fortunately, there are companies such as BuyMyHome that will make a fast cash offer for your home, no matter what condition it is in. BuyMyHome specializes in helping homeowners escape the nightmare of a bad neighbor, without a lot of fuss. They have experienced experts who can take care of all of the closing costs and paperwork in record time compared to a traditional home selling process.

If you are fed up with your bad neighbors and want to see what your home might be worth, head over to BuyMyHome.com to get a fast cash offer today!

3 Different Options for Selling Your Home

There are a lot of reasons why a person would decide to sell their home. Maybe they want to be closer to work or family, maybe they don’t like the neighborhood anymore, or maybe they simply need a to downsize or upgrade their current house. But once you have made the decision to move, where do you begin? In this post, we’re going to discuss three different options for selling your home. So let’s get to it!

3 Options for Selling Your Home1). Hire a Professional Realtor

One of the most common ways to sell a home is to contact a local real estate agent in your area and ask for their help in selling your home. There are both pros and cons to this method, which we will discuss below.

Pros of Selling Through a Real Estate Agent

One positive aspect of hiring a realtor is that they bring a lot of expertise about home sales to the table. They will be able to perform an in-depth analysis of competing properties in your area, and provide an accurate estimate of the market value for your home. Don’t be surprised if this value is different from the estimated value shown on popular real estate websites such as Zillow®!

Realtors are also experienced in advertising and promoting your home for sale. They will photograph and list the home online, as well as print up flyers and may even host an “Open House” event to show the home to prospective buyers.

Finally, going through a realtor will save you the trouble of having to find a reliable Title Company, Notary, and other agencies as they likely already have preferred partners they work with.

Cons of Selling Through a Real Estate Agent

While there are several advantages to selling your home through a licensed realtor, there are also a few disadvantages you should be aware of. First and foremost, it is standard practice for the seller to pay between 5% to 6% of the home’s selling price in commission fees, which are split between the buyer’s agent and the seller’s agent. Many sellers do not rejoice in handing over a large check for these services.

Another disadvantage to selling through a real estate agent is that the traditional process of listing, advertising, and selling a home can take a long time. While many realtors indicate fast turn times of 30, 60, or 90 days, the time is never guaranteed. You might find your home sitting on the market for 180 days or more, meanwhile you are still responsible for the mortgage payments!

Finally, real estate agents will want to clean up a property in order to show it to prospective buyers. If you are still living in the home or you are selling a rental property that is occupied by tenants, you may not be comfortable with the idea of strangers touring your home!

2). Sell It Yourself Without a Realtor

A second option for selling your home is to simply do it yourself! There is no law that requires you to hire a realtor when selling a home (though some states may require a real estate lawyer or attorney to review the documents first).  Let’s explore some of the positives and negatives of this approach.

Pros of For Sale By Owner

The most obvious advantage of selling your own home is the money you will save by not paying commissions to a real estate agent. The savings can be significant! For example, a 5% commission on a $250,000 house is $12,500 – that’s money in your pocket if you choose to sell the home yourself!

Cons of For Sale By Owner

While selling your own home may sound appealing, it is not for the faint of heart. You need the energy, time, and knowledge to pull it off successfully. During the process, you may be surprised at how much work is actually involved, and the feeling of “I should have just hired a realtor” is quite common.

Selling your own home requires a lot of work, such as researching and pricing your own home, and being able to negotiate with potential buyers. You are also responsible for doing your own marketing and promotion. Generally, FSBO home sellers are not able to list their own properties on the local Multiple Listing Service (MLS) website, which severely limits their exposure to potential buyers.

Finally, selling your own home requires you to be extremely knowledgeable of the laws that govern real estate transactions. There are countless small details such as state-required disclosure notices, requirements for who must sign the papers, who can handle the actual transaction, not to mention finding a reputable Title Company, Notary Service, and a Real Estate Attorney to review the final documents.

3). Sell It to a Private Real Estate Company

One of the most popular options in recent years is selling your home to a private real estate company. We’ll  look at some of the pros and cons of this approach.

Pros of Selling Your Home to a Private Company

Private real estate companies will often specialize in certain types of home sales such as foreclosures, bankruptcy, divorce, inheritance, or other situations that necessitate a quick sale. They will be respectful of your situation and work with you to make sure the transaction goes as smoothly as possible.

Another key advantage is that the process can happen very, very quickly! Private companies are backed by investors who can make a cash offer for your home in days instead of weeks or months. A fast closing time is one of the biggest advantages that sellers look for, and this is pretty much as fast as it gets.

Finally, the whole process of selling to a private company is very convenient and easy. There are no walk-throughs, no open houses and flyers, no commission fees, and no hassle!

Cons of Selling to a Private Company

There are relatively few disadvantages of selling your home for cash. While it’s possible that going through a realtor or doing an FSBO sale could net you a few thousand dollars more than the cash offer, many sellers find the extra time and hassle involved to not be worth it.

If you are looking to sell a home in the Phoenix, Arizona area, consider going with BuyMyHome, a local home buyer that is able to make cash offers for virtually any type of property, including those in “as is” condition or needing repairs. Contact us today at: 602-883-4767.