I recently read an article stating that sometimes a seller needs to pay to sell!
THAT IS CRAZY!
In today’s market, some sellers want to sell and get out from under the burden of their property.
When experiencing financial hardship or unexpected major repairs, distressed sellers sometimes think that they do not have options.
These sellers are often under the impression that they must pay for repairs – or have to pay a realtor to sell their house fast. Nothing can be further from the truth!
It is possible to sell a house under these conditions and NOT have to pay anything!
When a house is underwater financially it means that the owner‘s mortgage debt is higher than the current value of the house. When a property is even, it means they owe as much as the house is worth. If you have no equity or are still under water, selling without paying is not impossible. There are options to sell that do not involve high real estate agent commissions and repair bills!
There are buyers who are willing to buy your house in the condition it is in – whether that is financial hardship or in disrepair.
The smart seller will be open to these buyer's offers.
There are two major options open to these property owners. The sale can be “As Is” or Terms.
AS IS Sale
When a house needs major repairs that the current property owner is unable to afford, a house can be sold “As Is” to a willing buyer! In most cases, the buyer is willing to pay for the work to be done.
How it works
The buyer comes to an agreement with the seller as to what this repair work will cost and deducts the amount from their offer. In most cases, the buyer will offer to pay for the closing costs as part of the deal.
The seller does not have to pay for anything!
This option is available to owners in financial hardship where the property is in reasonable condition. Whether a house is underwater financially, or even, terms are a smart option to get out.
How it works
The buyer will offer to take over the property at an agreed price and pay over an agreed amount of time. In this way seller immediately gives over the financial responsibility of the property to the buyer - as soon as escrow is complete. The buyer is hoping that by the time they have paid for the property in full that it has regained the value paid.
In this option the buyer may also offer to cover the closing costs. Again, the seller does not have to pay a thing!
So the next time someone tells you that you have to pay for repairs, or pay a real estate commission, just smile and know that you have better options!
If you are putting your home on the market, winter can be a very stressful time. Most people are not focused on buying a house at this time of year. This may extend the time it takes to sell your property.
If selling during the winter isn't something you wish to consider right now, we can help.
If you have come to the realization that it is time to move right now to have a better life, but your house isn’t ready for the traditional market, we can help.
If you are juggling too many responsibilities to sell your house yourself this winter, then there are people who specialize in the sale of properties "as is" - usually within a week to resolve the situation quickly. We have a team of professionals able to assist you immediately.
Contact us for details.
So thanks for reading my post. I'm so glad you're here!
And I really look forward to getting into more great stuff in future posts -- so that you can
Turn Your House To $OLD!