Selling a Vacant House

The insurance trap

This is the part that catches owners out. Many standard homeowner policies limit or exclude coverage once a property has been unoccupied for a set period, and some carriers require a separate vacant property policy with a higher premium and narrower terms.

The exposure is not theoretical. Vandalism, theft, and burst pipes are exactly the losses that hit empty houses, and they are exactly the ones vacancy clauses tend to exclude. If your house has been empty for a while, call your carrier and ask specifically how long the policy covers vacancy and whether you are still inside it.

Vacancy periods are set by your carrier and your policy form, not by Georgia law, so the answer depends on your specific policy.

What vacancy costs while you decide

• Property taxes, which continue regardless of occupancy.
• Insurance, often at a higher vacant-property rate.
• Utilities kept on to protect the building from freezing or damp.
• Lawn and exterior upkeep, or a code enforcement problem if it is skipped.
• The mortgage, if there still is one.
• Condition decline, which shows up later as a lower offer.

That last line is the one people forget. Every month of deterioration widens the repair budget a buyer subtracts. See how much cash buyers pay in Augusta for why that line matters so much.

Why vacant houses are hard to list conventionally

Empty houses show poorly, and if the vacancy came with deferred maintenance the property may not pass a lender's condition requirements, which removes most financed buyers. See house needs repairs for how that plays out, and sell as-is for the direct route.

Vacancy also invites occupancy problems. If someone has moved in without permission, that is a legal process before it is a sale, and it is covered on squatters. If the house is full of belongings, see hoarder house. If it has been posted by the county, see condemned house.

Vacant houses are very often inherited houses. If that is the case here, start at selling a house in probate.