A Move On Cash Offer may be right for you if you need to sell your house in your timeline, we can make you an all-cash offer in as little as 24 Hours.
Don’t try to salvage equity that does not exist. The fact that you bought your home for thousands more than homes are currently selling for in your neighbourhood is irrelevant to the current fair market value of your home. You have to get clear on your goal: Are you trying to take dollars out of your home by holding out for the highest price, or are you trying to avoid the seven-year black mark that a foreclosure will leave on your credit report?
Don’t overprice your home. Get clear about what you want. If you’d like to get your home sold, make sure you price it aggressively and that means low. If your home is overpriced, some buyers won’t even see it because it will appear to be out of their price range. Other buyers will focus on seeing properties whose sellers seem more realistic about pricing. Your house will sit on the market longer than it should and then the lowballers will crawl out of the woodwork.
Get real about what your home is worth. Have your real estate agent prepare a Comparative Market Analysis (CMA) that shows recently sold, similar homes in your neighbourhood. If you’re serious about getting it sold fast, take the sales prices (not the list prices) from the most recently sold homes in your area, and then go down 10 percent or so from there to get your list price. When a home is slightly underpriced, it seems like a bargain. More buyers will come out to see it, and chances of getting a qualified offer skyrocket.
Make sure you have an accurate understanding of how low you can go. A buyer is not going to pay a premium price for your home just because that’s what you owe. If you owe more than your home is worth, give your lender a ring, complete a short sale application (see How to Get Your Lender to Agree to a Short Sale) and ask your lender to give you some indication of how low a sale price they will accept. Conform your list price to that (don’t forget to take closing costs into account); a short sale blemishes your credit but not as badly as a foreclosure does!
You can sell your home for as much as credited and qualified buyer is willing to pay for it. This is great news if you don’t owe very much on your defaulted mortgage. If you owe $40,000 to your lender, and your home is valued at $300,000, after all sale, transactional or repair costs the difference belongs to you.
You’re only responsible for paying your lender the full amount you owe, as well as any interest that applies to the loan. You may not be able to wait for a buyer who is prepared to offer $300,000 in cash before your foreclosure is finalized though.
In this scenario, regardless of which Investment company you choose to sell with, you will likely receive lower than market value. But as long as you can cover what you owe you will be in a much better position than not.
Selling at a lower than market price makes your home immediately attractive to Real Estate Investment companies or property flippers. Real Estate Investment companies won’t wait around either. They’ll jump on the opportunity to purchase your home the moment it becomes available.
Whatever your situation or factors are let us help you make an informed decision.
As cash home buyers we need to purchase the property, renovate and resell so all of the costs have to be accounted if you want the highest market sales price then invest in repairs and list the home, beware of inflated cash offers from “we buy houses” companies that are only looking to re-trade as close as possible to the closing date. We provide a Fair Cash Offer and transparent process.
