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I have a condemned home and want to sell

Discussion in 'Ask an Appraiser' started by Lance777, Apr 2, 2009.

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  1. Lance777

    Lance777 New Member

    0
    Apr 1, 2009
    Professional Status:
    General Public
    State:
    Ohio
    I have a condemned home and want to sell it. How do I sell it ? Can I sell it? Is it legal or illegal to sell. The house is structurally sound. It is repairable. Its the theives and vandals that keep us from doing much with it. Everything from electrical wiring to copper piping has been stolen so with that and tearing out the drywall to get to all those things me and my wife are not willing to put any more money into it. We dont have the time or the money right now to do it. One good thing about this house its paid for, I guess thats sort of a plus. What do I do?:huh:
     
  2. Mike Millson

    Mike Millson Sophomore Member

    0
    Dec 23, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Virginia
    Where in Ohio is the house??
     
  3. Lance777

    Lance777 New Member

    0
    Apr 1, 2009
    Professional Status:
    General Public
    State:
    Ohio
    City where condemned home is.

    The house sets at 3840 Gallia Street Portsmouth, Ohio 45662
     
  4. redfish

    redfish Senior Member

    49
    Sep 2, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
    Board it up, appeal your taxes, and sit on it until the foreclosure crisis passes.
     
  5. Lance777

    Lance777 New Member

    0
    Apr 1, 2009
    Professional Status:
    General Public
    State:
    Ohio
    Thanks

    Thanks for the words of wisdom redfish but not quite the answer I was seeking. This is a serious matter and we want to sell this house. We do not want to sink anymore money into it, just get what we can and give this headache to someone else. We are tired of break ins, we looked into a security system but we do not have the money for that either, it would be stolen in this town, the furnace that was locked in the basement was stolen for petes sake so I just need an answer too my questions m2:not what i should do, so please if anyone else can answer my thread the way it needs to be answered, please do so. Thank you.
     
  6. kickerdad

    kickerdad Sophomore Member

    0
    Jan 23, 2009
    Professional Status:
    Retired Appraiser
    State:
    California
    I am not in Ohio, but you can most likely sell it. Unfortunately, no one can live in the house until the government ageny that condemned it removes the condemnation.

    Check with that agency on its requirements regarding selling it and occupancy restrictions.
     
  7. DTB

    DTB Elite Member

    68
    Jun 11, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Get a guy who knows a guy. And make sure your property insurance is paid up. I'd start looking in Youngstown. :icon_idea:
     
  8. Em Tee

    Em Tee Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Sounds like you should market it as a "tear down". I don't know what your market conditions are like for lots, but that might be your only option.
     
  9. MARK JOLLIFF

    MARK JOLLIFF Member

    0
    Oct 23, 2003
    Professional Status:
    Licensed Appraiser
    State:
    California
    How are rents in the area? If you borrow 20k to fix up and the payments are $150 on a credit card then rent it for $250. I don't know if this is cheap for the area. If it is then you can have someone live there just to keep an eye on it. When the market turns you could make some nice coin.
     
  10. Walter Kirk

    Walter Kirk Senior Member

    19
    Jun 24, 2003
    Professional Status:
    Licensed Appraiser
    State:
    New Jersey
    You may legally sell your property at any time. When you say that the property is condemmed I assume that you mean that the improvements ( the house) have been cited by the some government entity.

    A condemnation can also be when the government wants to force you to sell your property to it.
     
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