In the current real estate market, many home sellers find themselves with a property they cannot sell for a number of reasons. Some of the most common issues that cause folks to run into trouble selling their house are:
- Unrealistic expectations of what your property is worth.
- A home that needs repair that the seller cannot afford
- A house "underwater" or a house where the outstanding mortgage exceeds the value of the property, and therfore selling the home will not clear the mortgage.
-A vacant house with bad debt exceeding its value. We see this a lot in philadelphia. A home is inherited or in one way or another becomes vacant, and the taxes are left unpaid, and liens and other debts accrue tot he point where they exceed the value of the property.
We will go through each of the following situation and provide solutions for each, as well as a means where Fast Eddie Home Buyers may be able to help.
Many people will call us and when we ask what they want for their house, or their asking price, they will give us a completely unrealistic number. In order to price your home properly you need to speak with someone who understands the current real estate market. Just because the house was worth, for example, $100,000 five years ago, it may very well be worth half that or less; or on the other hand double what it was worth! Talk to an experienced real estate professional like Fast Eddie Home Buyers, to find out what houses, of a similar size and condition in the area are selling for. That is the going market price, and that is what you will get for the house. Fast Eddie Home Buyers generally will offer slightly less than the going market rate, so that we can profit on the property with our strategy after its purchase.
Houses that are underwater, can be tricky, but there are solutions. If the mortgage payment is becoming too much to handle and the mortgage itself is higher than its value, there are "creative" real estate transactions that may work for you. One such strategy is having a home buyer like Fast Eddie, take over your payments on the property and deeding the property over. The benefit to you is relief from the payments, and an increase in credit. In turn we get the property and cash flow from renting it.
If you cannot afford to repair the house, you will want to sell it for cash to a home buyer like Fast Eddie. You will need a cash buyer, as banks will not finance properties in disrepair. This is the best and simplest way to solve the problems of an unwanted house. If you have a house in disrepair that you want to sell for cash, you are doing yourself a disservice if you haven't called Fast Eddie Home Buyers yet!
Last, if your property has bad debt that are exceeding the value, this is another case where it would make sense to call us. An experienced home buyer may take the property, along with the bad debt and leave your problems behind you! We have techniques to minimize the bad debts and have the deal still make sense, to sell the house for cash.
If you're finding yourself in situations like the ones menetioned above, give us a call at 215-801-4577, Fast Eddie Home Buyers, as you can see we buy houses in ANY situation or condition! Also can enter your info on our Fast Cash Offer page.