There are hundreds of abandoned homes throughout the Detroit, Michigan, area. Many of these homes are left abandoned for several years without any claim from the previous owners. Owners often abandon homes because they either can’t keep up with the mortgage payments, can’t sell the house, or can’t afford the upkeep.
If you currently have a vacant property and can’t seem to sell your vacant house in Detroit, Michigan, there may be an option for you to get out of your property with a cash sale. You can sell your vacant house for cash to a company that buys houses in Detroit, Michigan.
What Is an Abandoned House?
From a legal perspective, an abandoned property is a piece of the property turned over to local or state agencies due to negligence, the threat of harm, or inactivity. Many of these properties go unclaimed by the last known previous owner. As a result, the local or state authorities take over the property and decide what to do.
Every state has different laws for handling a vacant house that has been abandoned. Laws cover key issues such as
- Establishing that the house is abandoned
- Discovering the reason for abandonment
- Locating the owner
- Notifying the owner that the state is taking over the property
- Identifying any liens against the property
- Finding the nearest relatives to the owner
The state will exhaust almost every other possibility before condemning the house or claiming it to be legally abandoned property.
Why Do Homeowners Abandon Houses?
There are several reasons a homeowner may abandon a house in Michigan.
Repair and Maintenance Costs
One of the most common reasons for a homeowner to abandon a house is because it costs too much to maintain. An older house may need major upgrades – electrical plumbing, framework, roofing, flooring, and HVAC. The cost of these upgrades can be too much for the homeowner to handle financially.
The House Was Condemned
A house may look perfectly fine on the outside but have issues on the inside that are severe enough for the city of Detroit to condemn it. A house is usually condemned due to environmental issues, health hazards, or the scene of a criminal investigation. Whatever the reason, the owner chose to leave the house for good.
Foreclosure or Bankruptcy
Another reason a person might abandon a house is legal action against the house because of financial hardship. If the lender forecloses on the house because of late mortgage payments, the owner may give up and decide they don’t want to fight the bank. Sometimes an owner will leave before the foreclosure process begins.
Unwanted Inheritance
When a loved one dies, the surviving family members must bring closure to the person’s finances and estate. In some cases, a house was left to a beneficiary that doesn’t want the house or the hassle of selling the house. They may abandon the house and let the state take it over.
Can I Sell My Vacant House Instead of Abandoning It?
If you have been trying to sell your vacant house fast in Detroit, Michigan, but can’t find a buyer, you may want to try a cash sale with a company that buys houses in Michigan. You simply contact the buyer in a cash sale and set up a quick walkthrough. The buyer appraises the house’s current market value and makes an offer.
If you accept the offer, you close the sale, pick up your check, and walk away with no strings attached. You sell your vacant house as-is – no repairs, inspections, or upgrades are necessary. Plus, you pay no closing costs, and you don’t have to hire a real estate agent.
Sell Your Vacant House As-Is to M1 Home Buyers
If you need to sell your vacant house as-is, contact M1 Home Buyers. We buy vacant houses as-is in Detroit, Michigan. Call 248-397-5800 to get a fast cash offer.