Sell a Las Vegas, Nevada Rental Property at a Loss

When To Sell a Las Vegas, Nevada Rental Property at a Loss

Anyone who’s seen the movie “Leaving Las Vegas” would understand that accepting loss is the best way to move forward. The same goes for selling rental properties at a loss. Like Ben Sanderson, landlords should accept the reality of the financial setback and cut their losses. While it may initially feel intimidating and humiliating, this mindset is the best way to ease the burden and start again elsewhere.

At We Buy Any Vegas House, we discuss ways to help you sell a Las Vegas rental property at a loss. Keep reading to learn more.

Should I Sell at a Loss?

It can be tough to decide whether to persist or finally sell your property. Selling at a loss can be a difficult decision, but it might be the way out if you’re experiencing the following signs.

• The property is only causing continued financial strain, leaving you to spend more than you earn.
• Declining market conditions are causing lower tenant occupancy rates. In the U.S., the average occupancy rate is 34%, and anything lower will lead to loss.
• You’re tired of being a landlord. The effort is no longer worth it, especially with tasks like evicting tenants, keeping up with regulatory requirements, and facing declining property values.

Benefits of Selling Your Rental Property

Selling at a loss may feel like defeat. However, some benefits make it a good alternative to hemorrhaging money as you try to keep the property.

• Free Up Capital: You can liquidate the property and access the capital to use for other investments.
• Prevent Future Financial Strain: The increasing cost of maintenance and possible depreciation will only lead to more losses in the future. Getting rid of the property is a proactive move to prevent any more loss of money.
• Reduced Responsibilities: When you finally sell the property, you’ll release yourself from the burden of management. You can then find some mental peace and focus on other investments or priorities.

Which Method Provides the Most Cash?

There are several ways you can sell your rental property. A traditional real estate sale may seem like a method with the highest yield. However, you’ll have to pay commissions to your agent. In Nevada, that amount averages 5.8% of the total sales price. Add the other fees, and you’re left with less than you expected.

A cash home buyer like us at We Buy Any Vegas House may be the better alternative. While the sales price is lower than the typical rates, you take away the entirety of the cash offer.

Cash Home Sales Facilitate Quicker Relocation

Cash sales are also quicker. You won’t have to endure the long wait in a traditional sale, which can last an average of 45 days. Instead, a cash offer can close in as quickly as seven days. That way, you can relocate to another location or get the cash within a short duration.

Which We Buy Houses Companies Are Legitimate?

We Buy Houses As-Is

At We Buy Any Vegas House, we will purchase your rental property no matter the conditions.

• Code Violations: If you’re facing code violations that are too costly to address, you can sell the property to us.
• Damaged Property/Needs Extensive Repairs: We buy properties that have fire damage or need comprehensive renovations.
• Bad Tenants: One common issue landlords face is bad and uncooperative tenants. This is no problem for us. We will purchase your property to relieve you from the burden.
• Dirty Homes/Trash Problems/Hoarder Homes: Got a rental property filled with dirty junk or trash from problem tenants? We will buy it, and you won’t have to handle the cleanup.
• Rundowns or Fixer Uppers: We will buy any rundown property regardless of its state of deterioration.
• Death Estate: If you’ve inherited a rental property that you can’t manage on your own, let us buy it.

Helping You Get Rid of Properties No Matter the Situation

As your trusted cash home buyer, we will purchase your property regardless of the purpose of the sale. In addition to tired landlords, our company helps people who are facing the following life circumstances.

• Relocation/Downsizing/Home Upgrades: Is your family growing? Are you preparing to retire? Do you need to relocate outside Nevada for a job? We can buy your property quickly so you can get equity to buy a new home.
• Avoiding Foreclosure: Avoid getting foreclosure and harming your credit score by selling the property to us.
• Family Issues or Divorce: We can help in liquidating assets during emotional moments for families.
• Avoiding Bankruptcies: By selling your house for cash, you can access equity that helps you avoid bankruptcies.
• Health or Medical Issues: Those who need funding quickly for health issues can sell their house to us.

Get Cash Now for Your Nevada Property

We serve landlords and investors in various Nevada areas. If your property is located in one of these cities and communities, contact us to get your cash offer!

• Las Vegas
• Henderson
• North Las Vegas
• Summerlin

Sell Your Rental Property to Us for Quick Cash

Ready to get rid of your rental property? Let’s start the process.

1. Fill out the requested details about your home and hit submit.
2. We’ll get back to you with a cash offer.
3. Once you review and accept the offer, choose the closing date and get your check!

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