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Real Estate
Reply to "Why do abandoned houses exist? What’s the usual reason people just leave and never return? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I live next to two. One, the mom died and people inherited it. The other, a tree fell and and damaged the roof. The tenant moved out. The landlord doesn’t have the cash to repair it. [/quote] They own a home without basic insurance?? [/quote] I wouldn’t be remotely surprised if they got cash and didn’t use it on repairs. [/quote] Wow. Lots of sketchy people. OP, sometimes the family just leaves the property rot- they are holding out for as much money as possible. Think about it - if they are one of the original owners, maybe bought in McLean (for example) in the 1960’s - they probably paid about $30k back then. Now, the property might be worth over a million , for land alone- they are just going to let it sit there as long as possible. Worst that can happen, the county might get complaints about vermin or long grass. Sucks for the neighbors, especially if they have multi million dollar properties. [/quote] They must be paying the property taxes which would be over $5000 per year on a $500000 house.[/quote] Can get taxes deferred or — depending on income — no taxes are paid. [/quote] Doesn’t the property go to next of kin? Presumably they would pay the back taxes once they sold the property? Assuming (in the case of) the original owner is now deceased? Why be so greedy and let the eyesore bring down the neighborhood? There is a house on Old Dominion - those neighbors must have smashed most of those windows five times one year - place still sat rotting. Some people can’t take a hint - I am certain that is what those neighbors were thinking. [/quote] Property could be willed to next of kin but if it is several parties who have a sentimental attachment to the home, you can’t make them sell without creating difficult issues for family members. Deferred taxes will have to be paid but most people in this position want the emotional tie to the house rather than the money. If you are upset by a deteriorating house, you can have code enforcement investigate [/quote]
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