There are numerous reasons a homeowner would consider selling their home in today’s market. Perhaps there has been a recent job loss, the death of a spouse or bread-winner, an unforeseen medical issue that has created loss of income, etc., and the family is facing a financial situation that forces the sale of the home. With the rates of foreclosure in the United States at an all time high,sell home now Boston it is no wonder that homeowners are looking for realistic solutions to selling their homes quickly and efficiently – without having to pay high real estate commissions. While Real Estate Professionals provide a very important service, and their fees are well worth the cost, there are situations where you truly need to watch every last dime. If foreclosure is knocking at your door, or if you are experiencing one of the sample situations previously mentioned, it is not in your best interest to pay thousands of dollars in real estate commissions.
What is the average real estate commission you would have to pay, if a Real Estate Agent sold your home for $100,000? Throughout the United States, the average real estate commission is approximately 6%. Therefore, at the closing on your property, the Real Estate Agent would receive a check for $6,000. Sure, your Realtor puts your property in the Multiple Listing Service, so that agents from all over can show and attempt to sell your property. Your agent will probably hold open houses for you, field calls about your property on your behalf, as well as show your house to any buyer who shows an interest in buying. The problem with this scenario is the sales process can be very time consuming – and when you’re in a situation where the money is simply not coming in fast enough to keep up with your bills, it’s time for a different solution!
When you work with a professional property investor to initiate a quick sale and speedy closing on your house, you can expect to hold your closing within approximately 7 – 10 business days. You’ll never have to deal with real estate commissions, and the property investor’s sole purpose is to offer you solutions that will allow you to quickly sell your home, so that you can move on with your life. When you work with an investor, you will receive a preliminary evaluation of your property over the phone. During this phone call, you will be asked several personal questions, such as:
Some people are uncomfortable with these types of personal questions. Whether you are working with a Real Estate Agent, or a professional Property Investor, these are questions that must be asked, in order to determine whether or not a deal can be reached. When you work with a Property Investor, they will evaluate your property to determine the best course of action in purchasing the house. For instance, if you are still living in the house, it wouldn’t make sense for the investor to do a quick purchase, because it may take you an extended period of time to relocate.
So what are the potential solutions a homeowner may find the property investor will offer? Let’s take a look at some of the most common solutions offered by the professional property investor. When you can not afford to remain in your home, there is really only two things that can happen. First of all, you can sell the house in the quickest manner possible. The second option is to NOT sell the house, and you lose it. Therefore, it makes sense that the quickest way to get rid of your problem, is to sell your house – FAST! We’ve already talked about using a Real Estate Agent as a possible solution to selling a home, but that isn’t necessarily the most inexpensive and speedy solution in your situation.
When you work with a professional Property Investor, you can receive a cash offer, or a creative solution that can include purchasing your house, subject to your current financing. Here’s how a purchase, “Subject to current financing,” works for the homeowner. The property investor makes a written offer to you – subject to your current financing, and the house passing inspection. Don’t get nervous about the inspection. This is customary, and in general, allows the investor to determine what needs to be done to the property to resell or rent out. When both the homeowner and the investor are able to come to terms with this type of agreement, the investor literally takes over the payments of the current loan. It is a seamless process, and house is transferred to the investor, via “Quit-Claim Deed.” The homeowner is absolved from further payments, and is no longer owner of the property. Thus, the homeowner has ended their financial turmoil.
Another creative solution the property investor may offer the homeowner who is experiencing a job transfer, is called a lease purchase. The investor will set up a lease for a period of 5 – 6 years, in which the investor is responsible for making all payments to the mortgage company directly, and keep up all minor repairs on the house. The investor initiates this type of creative solution, with the intention of leasing the property to an outside individual. The investor has the right to complete the purchase of the property at any time before, or up until the end of the lease purchase agreement. The homeowner experiences relief, because they do not have to make payments on two houses, and both parties have reached agreement on a purchase price today.
When you choose to work with a property investor, there are a couple of things to keep in mind. The investor offers solutions to homeowners because he/she makes money on these deals down the line. No homeowner is ever required to accept the offer of a property investor. It’s important that all parties keep the lines of communication open, so that a deal can be reached that works for both parties.
Working with a Professional Property Investor to quickly sell your house can be an excellent solution to the distressed property owner. The homeowner will receive a guaranteed offer within 24 – 48 hours, will not have to pay out any real estate commission, and will have an efficient and expedient solution to a financial problem that could only multiply down the line. When you’re financially down and out, and could face foreclosure, it’s time to consider working with a Professional Property Investor.