When you’re upside down on your mortgage or owe more than the current market value, it can feel like your back is against the wall. Typically fluctuations in the economy cause downward trends in real estate pricing, which can have an ill effect on those with little to no equity, for whatever reason. Often, homeowners find themselves in this situation when they have taken out lines of credit against the equity to cover living expenses.
Don’t lose hope; you have options and some bargaining power, especially if you take advantage of the time you have before you should reach more severe stages of being underwater with your mortgage. However, now is the time to act if you foresee troubled financial waters ahead, it may be time to exit the property. Read on to discover how you can sell a house in Lynchburg that is worth less than you owe.
Owner Financing
Consider offering owner financing as a way to sell a house in Lynchburg that is worth less than you owe; the benefit to the buyers is worth far more than you may realize. At the very least, their initial down and monthly payments should more than cover your mortgage for the contract duration. Another benefit of this situation, the buyers are responsible for caring for the property as if it were their own. With careful applicants and a savvy marketing campaign, you could find tenants willing to pay a higher than market value. However, your asking price is higher because you offer to hold the property off the market for the next two years. Because real estate can fluctuate significantly over this length of time, you may take a loss on the sale at the current price, so your asking price must include a calculated estimate of what the market could demand for the property in two years. There are many reasons for this situation; typically, the buyers are working towards saving for a large down payment and getting their creditworthy ducks in a row. The main attraction of owner financing is that it allows the buyers to begin living a homeowner’s lifestyle now while they have time to improve their standing for mortgage approval. Additionally, extra monies are paid monthly on top of the rent payment, which will count towards a sizeable down payment at the end of the agreement, customarily for two years. In the worst-case scenario, should your buyers fail to fulfill their end of the deal, you still have your valuable real estate, and you keep any payments the buyers made towards the down.
Buyers typically seek ready to move into the property; for homes that need work, they will expect deep discounts for putting in work towards the downpayment. However, if you are experiencing cash shortfalls and your home is in a state of disrepair, owner financing may not be the correct answer for you. A better option may be a direct sale to a company like Linken Investments, which will purchase most homes as-is.
Linken Investments
Linken Investments may be able to help you get a cash offer if you need to sell a house in Lynchburg that is worth less than you owe. Now and moving forward, the direct buyers at Linken Investments are here to help. If you don’t have time to list and wait to sell, or you are fending off bill collectors and need to sell now, a direct buyer from Linken Investments will provide you with a guaranteed closing date. And Linken Investments uses clear-cut, simple contracts with no hidden fees. At Linken Investments, our direct buyers don’t work on commissions, so you don’t have to worry about taking anything else off the top at closing. When you sell directly to Linken Investments, the amount offered is the amount you’ll receive at the closing table, and you could have your cash in hand in a matter of days. If you’re not quite that ready because a direct buyer from Linken Investments isn’t planning on moving into the property, we can be flexible and set the closing for any day on the calendar that suits you best.
At Linken Investments, we can address your concerns about selling directly with absolutely no obligation; feel free to ask us any questions you may have. At Linken Investments, we understand this is an extremely stressful time, so we stop and take the time to listen to your needs. Working with experienced local pros like the direct buyers at Linken Investments makes the selling process easy; we’ll walk you step by step through the process. So that you’ll feel good about the deal long after closing, a direct buyer from Linken Investments will detail the costs and profits of listing on the traditional market vs. what you’ll see from a direct sale so that you can make the best decision for your circumstances. Contact Linken Investments at 434-390-2906.
Give us a call or text anytime 434-390-2906 or fill out the short form here today!
How Linken Investments Simplifies the Selling Process
Initial Property Assessment
Once you contact a Linken Investments, we will schedule a visit to assess your property. During this visit, they will evaluate its condition and determine a fair offer based on market factors and the extent of repairs needed.
Cash Offer and Negotiation
After the assessment, the we will present you with a cash offer. You have the freedom to negotiate and discuss any concerns or questions you may have. If you accept the offer, the we will proceed with the closing process.
Quick Closing
Unlike traditional home sales, where the closing process can take months, we can close the deal quickly. This speeds up the selling process, allowing you to move on with your plans and get the money from the sale in your hands sooner.
Minimal Paperwork
Working with a Linken Investments involves minimal paperwork compared to traditional real estate transactions. The we can handle most of the paperwork, reducing your burden and making the process of selling your Roanoke VA home as simple as possible for you.
Give us a call or text anytime 434-390-2906 or fill out the short form here today!
Frequently Asked Questions (FAQs)
Can I sell a home in any condition?
Yes, you can sell your home in any condition, including as-is. Linken Investments specialize in buying homes regardless of their condition.
How long does the selling process take?
The selling process is typically much quicker compared to traditional methods. It can take as little as 7 days or a few weeks to close the deal, depending on your specific circumstances.
What if I’m facing bankruptcy?
Selling to direct buyers like Linken Investments can help you avoid foreclosure and protect your financial future.
What happens if my home needs extensive repairs?
If your home requires extensive repairs, working with a Linken Investments is still a viable option. We will factor in the repairs needed when making an offer, saving you from the financial burden of having to make the repairs yourself.
Will I get a fair price for my house?
Yes, Linken Investments consider various factors to make a fair and competitive offer for your property.
Are there any costs, hidden fees or obligations involved when working with a Linken Investments?
No, we will assess your property and provide you with a cash offer at no cost or obligation to you. If you accept our offer, we pay all closing cost and fees involved in most cases.
Give us a call or text anytime 434-390-2906 or fill out the short form here today!