Selling your home when you are
behind on payments
When you owe a substantial amount of debt, you can always choose to pay it off instantly by selling your most valued asset namely your home. Selling the house you live in might be the last thing you’d want to do but you might be compelled to go for it when you are faced with a serious financial crisis. The proceeds from your home sale can be used to pay off your debts and relocate to a new home. However if you need the money real fast then selling your house through real estate isn’t going to be of much help.
The downside of selling your home through a realtor
In a situation where your debtor is pressing you for the money you owe, you’d surely focus on getting the money as quickly as you can to settle your debts. When you put your home up in the open market or hire a real estate agent to sell your home, you will not be able to close the deal quickly. Selling a property is a long drawn process and at times it can take up to 5-6 months to find the right buyer. Even after finding the buyer who is interested in your property, you might have to wait for a few more months for him to qualify for the bank loan and make the payment. Paying off your debt is an extremely time sensitive situation and you can’t surely wait for months to get the cash in your hands. Apart from that you’d need to spend a lot of money to repair your house and make it look attractive to the prospective buyers.
If you are really keen on selling your home then what you need to do is give a call to a cash home buyer in your locality. Cash home buyers are home investors who are going to offer you a fair price for your home no matter its condition.
Advantages of selling a home to a cash buyer
The downside of selling your home through a realtor
In a situation where your debtor is pressing you for the money you owe, you’d surely focus on getting the money as quickly as you can to settle your debts. When you put your home up in the open market or hire a real estate agent to sell your home, you will not be able to close the deal quickly. Selling a property is a long drawn process and at times it can take up to 5-6 months to find the right buyer. Even after finding the buyer who is interested in your property, you might have to wait for a few more months for him to qualify for the bank loan and make the payment. Paying off your debt is an extremely time sensitive situation and you can’t surely wait for months to get the cash in your hands. Apart from that you’d need to spend a lot of money to repair your house and make it look attractive to the prospective buyers.
If you are really keen on selling your home then what you need to do is give a call to a cash home buyer in your locality. Cash home buyers are home investors who are going to offer you a fair price for your home no matter its condition.
Advantages of selling a home to a cash buyer
- Cash home buyers are not about to settle in your old house. After buying your house they would repair it and sell it at a greater profit. This is why they don’t really care about the condition of your home before buying it. They are known to purchase property ‘as is’ and offer you a fair cash price.
- Cash home buyers work real fast and can get all the paperwork done within just a few days’ time. All you need to do is accept their offer and wait for them to close the deal and give you the much needed money. You can expect to get the money in your account within a matter of one or two weeks.
- Though the amount of money you’d get will be lesser than the market value of your property but you will be able to close the sale quickly and save on all the money which is otherwise spent on repairing your house. Moreover you also don’t have to pay for the expensive fees and commissions of the realtors.
