Purchasing a foreclosed home usually comes with a great deal that is well below the typical market price. But there are often stipulations with these sales, including an "as is" clause that gives you the home in the current condition that it is in. This means that before you can actually move into the home, there may need to be a lot of renovating, cleaning up, and clearing of the property. Instead of taking a financial hit on the actual process, there are four ways to make a little extra cash and put the money right back into the home. Every property is different, but a number of these tips can apply to foreclosed homes.
Scrap Metals
One of the easiest things to look for in a foreclosed home are any scrap metals that can be converted to cash. Old copper piping and building supplies can all be brought to scrap metal yards for cash. You can also look for any old appliances that you will no longer need in the home. You can bring washers, dryers, refrigerators, and dishwashers to a scrap metal yard to make a little extra money for all of the valuable metals enclosed in them. Filling up a truck with a lot of different scrap metals can help you quickly clear out the home. Instead of transporting the items yourself, you also have the option of contacting a scrap metal pick-up service, such as U Pull & Pay. These services can collect all of the items, bring it to the scrap yard, and then contact you with the payment amount.
Junk Car Clean Up
In some cases, you may find abandoned cars located in yards or garages on the property. Many times, these are broken vehicles that no longer run or properly operate. Instead of leaving the cars on your property, you can use a cash for junk cars program to make some money for the vehicle. The process is easy, but one of the main requirements is having the title for the vehicle. After purchasing the home, you should inspect the vehicle for the title. If the title is located inside the vehicle, then you can move forward with the process and have the vehicle towed off your property while getting paid for its value.
If there is no title in the vehicle, then you can attempt to get one from your local DMV. Inside the vehicle, there is a VIN number. This number can help the DMV identify the original owner of the vehicle. With this information, they can contact them to try and get the title. If no contact has been made for a specific period of time, then you will be issued a title and can move forward with the junking process. For cars worth a few hundred dollars, the process is worth the profits and it's also nice to have the vehicle cleared off your property.
Antiques & Decorations
Not everything inside of the home should be just tossed into a dumpster. Instead, try to examine items and see their worth when re-purposed or sold to various buyers. For example, there may be antique decorations that could be sold on vintage websites like Etsy. People are always looking for these unique decorations and you can make a lot of profits by cleaning off and listing the items for sale. Look for various wall decorations like picture frames, clocks, and curtains. What may look like junk to you could be a treasure to someone else. Along with selling the items online, you could host a yard sale to make quick cash from neighbors and local people in the area. It's also a good idea to check closets, attics, basements, and other storage areas for hidden gems that can be sold for cash.
By taking the first week or so to truly clean the home and sell items, you can have enough cash to purchase new decorations and truly make the home all your own.
Share20 May 2016
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