IS YOUR HOME OVERFINANCED?
As professional homebuyers, the most common situation that we see is sellers who have little or no equity in their homes, that need to sell the home, for one reason or another, very quickly.
Over the last few years, banks have made it easy for people to buy homes with 100% financing.
Maybe you’re one of those folks who bought a house for 100% of its value with no out-of-pocket money. Maybe you utilized an interest-only mortgage to purchase your property and have faithfully made the payments each and every month, but because you have paid nothing on the principal, you have not picked up any equity. Or you’ve taken out a home equity line and can’t afford to pay it down.
Now, to further exacerbate things, the credit markets have tightened up and you cannot do anything to extricate your situation.
Many people in your situation, who have little or no equity, will try to sell the house FSBO – or For Sale By Owner because they cannot afford to market the property with a professional real estate agent and pay a commission on the sales price. And yet the property doesn’t sell….the FSBO sign and the little Info Tube sit in the front yard and rot in the elements while the homeowner continues to pay the mortgage.
Others will sign a listing contract with a real estate broker, resigned to knowing that even if they get a full price offer, they will most likely have to take a check to closing – which is fine if the homeowner has the money! Or they will mark up the price in an attempt to cover the broker’s commission, which only serves to make the buyer pool smaller. If the property isn’t priced like comparable properties, guess what? It won’t sell. Bottom line.
Qchomebuyers.com knows exactly how to deal with these types of situations. In fact, we buy houses all the time from homeowners who have no equity. Before you list, consider letting us buy your home today!
Even if we do not wish to buy your home, or you do not wish to sell it to us, we still may be able to assist you in other ways that will allow you sell the house.
Call us today at 704-269-4842 or fill out the form below and let us show you how we can assist you in getting your house sold, even if you have no equity.