Real Estate 2017: Some Options You Can Do When Your House Won’t Sell

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People sell their houses because of several reasons, and there are “We buy house for cash” companies that are willing to pay quick cash. We must admit, whenever we read “We buy houses for cash” ads, we always wonder what’s the possible catch, because it sounds too good to be true. People sell their houses due to several reasons such as migration, bankruptcies, divorce, foreclosure or probate homes, inheritance, trashed or damaged homes, employment transfer and vacant homes. Although we might think these companies are taking advantage of people’s situation, the catch is they are professional real estate investors who can find ways to offset unnecessary fees associated with real estate transactions, who directly processes documents without delay, and has the instant money to solve your immediate need for quick cash no matter what the condition your home has. These real estate investors as specified by their title, buy and pay houses instantly because time is valuable for them to seek business avenues for the property they will purchase, considering the fees they have to pay and the fast-paced market value trends.

There are things you can do before deciding to sell your home. Postponing selling your home allow you to have enough time to wait for the best time to get a fair price for your home. Don’t sell your house during holidays because I buy homes with cash buyers expect bargains, so you’ll just end up losing money if you try to negotiate during holiday season. Avoid selling in winter season, because people don’t really have the energy and time to do house visits in cold months compared to warmer months. More prospective property buyers with all cash visit and search houses into various marketplaces in spring, so it is regarded as the best time to sell your home. Rather than selling your house for instant cash, it is better to avail of equity loan, as long as you can afford to pay higher monthly payments. And if you have an existing loan that you are no longer able to afford, negotiate for a loan modification with your lender or ask to convert it to fixed-rate mortgage at a lower interest rate. Consulting a reliable and trusted financial adviser about your financial situation before making a decision to borrow money for refinancing your existing loan. It is best to talk to a real estate lawyer or a tax account for that matter.

If you are just been assigned to a new place and nobody will stay at home, one option you can do is rent your home. You may not receive enough rental fee for covering your mortgage payments, but it can pay a small amount of negative cash flow every month. You may also consider a short sale if you bought your home within the past few years and you owe more than your home is worth. Remember that not every lender will accept a short sale, and not every seller qualifies for it. Another option you can do before deciding to sell your house is leasing, because it will give your tenant the opportunity to later purchase your home at a predetermined price.

For further reading/watching, please visit  http://www.huffingtonpost.com/news/best-time-to-sell-a-home/ .

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