I recently sold a rental property to a cash home buyer in Jacksonville.
It was a huge relief to get out from under the enormous repairs required to make the house livable. When I initially rented out the property, it was in good condition. I’d invested time, money and labor into a fresh coat of paint on the walls, ceilings and exterior. I installed a new bathroom vanity, mirror, light fixture and toilet. The refrigerator and oven weren’t new but operated just fine. I provided a brand new kitchen sink faucet and dishwasher. The water heater was only three years old and the HVAC system was under ten years old. The house offered a single bedroom, single bathroom and twelve hundred square feet but provided a sizable amount of property. When me renters first moved in, they were prompt with payment and kept up with mowing the lawn. They gradually started having some trouble coming up with the rent. Payment kept getting later and later, and they had more and more excuses for the delay. When I’d drive by, I’d notice the lawn looked unkempt. The grass was high, the gardens weedy and there were broken lawn chairs and assorted trash strewn about. The renters also called nearly every day with some complaint. They wanted a new refrigerator and stove. They were unhappy with the water pressure. The air conditioner wasn’t keeping up with demand. The situation steadily worsened until I finally began eviction processes. Getting those renters out of the house was nearly impossible. After they vacated, I discovered extensive damage. There were broken windows, holes in the walls, missing light fixtures and the bathroom vanity was missing entirely. Plus, they poured cement down the drains. At that point, I simply wanted out from under the expense and stress. The Jacksonville buyer provided an offer, a cash payment and a closing date within ten days.
