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Underwater mortgage is a term that has become far too familiar in today’s real estate market. Since the market has been steadily declining over the last few years, more and more homeowners are faced with a home that is not worth what they owe on it. In many traditional situations there are really only 3 ways to deal with this. The first way is to tough it out continue paying the mortgage and hope that the value comes back over time. The second option is to sell the property as a short sale and ask the bank to take less than what is owed. This is not a great option because it will hurt your credit even though you have done nothing wrong. The third option in traditional situations is to ask your bank to modify your mortgage. Your bank may then agree to lower the amount of money that you owe on the house. This is usually not a great option either because the bank traditionally only allows a modification if you are several months behind on your mortgage. This will hurt your credit and there is no guarantee that you will get the modification.

Now, for those of you that don’t know, there is a fourth non traditional option that you have that will allow you to sell your home and not take a hit on your credit. In fact you may be able to sell your house for what you owe on it or even at a profit even if you are underwater. Now let me warn you that this method requires you to think outside the box a little and it may seem different but this technique has been used for years and it is often used in commercial real estate. It was used years ago in residential real estate but when the residential real boom hit, it became a lost art. The technique I am talking about is owner financing. Read the rest of this entry »

We can’t always plan for the future and sometimes the unexpected can happen. There are lots of reasons why a quick house sale for cash may suit your needs. Consider, for example, if you need to relocate or emigrate quickly: the drawn out process of a house sale may be impractical if not impossible. Or if you are having problems paying your mortgage repayments, a fast cash sale can keep your credit rating in tact and release the stress of debt weighing you down. Selling a house is stressful at the best of times, but with these added considerations it can become both a financial and emotional drain. Using a cash property buyer could be the solution you are looking for. You can visit payday lenders online for further information.

How can a cash property buyer help me sell my house quickly?

A cash property buyer will either have the funds themselves or will have a database of people ready to buy; these could be investors or landlords with the cash ready to invest and looking for good opportunities. Once you have submitted the details of your property you will receive offers and you can choose which one to take, with no obligation to take any if they don’t meet your expectations. If you do decide to take an offer the process can move forward quickly; because it is a cash sale you will not be part of a larger property chain, so you don’t face the fear of the deal falling through. No matter what condition your house is, a cash property buyer can guarantee a quick, hassle-free, cash sale for your house.

How can I find a good cash home buyer?

There are lots of quick cash for property buyers on the Internet, but it can be hard finding one that is reliable and will pay fair prices. A lot of companies may be looking to take advantage of the need-for-speed of your sale, but shopping around can ensure that you get the best deal and most importantly, the best price for your house. Often a cash buyer may start the process and then reduce their offer before completion, unfortunately a seller already hounded with debt and stress may just give in and accept this. Make sure the fees charged by the firm are clear and avoid cash property buyers that charge fees upfront with no guarantee they will even buy your house. Comparison websites compare the offers of different cash property buyers, so that you can look for the best quote, this is a great place to start your search for a reliable, reputable cash buyer.

How much will my house sell for?

Realistically you could be looking at 70-75% of the property’s value if sold quickly for cash. It is a good idea to get an idea of your property’s value by asking an estate agent or looking at what similar property is going for in the normal housing market before you get quotes. Remember that this discount in price is the result of a fast, secured cash sale. Also, though you will be selling your home for less than market value, remember that there are no estate agent, solicitors or commission fees.

How quickly can I sell my house?

The speed of sale that can be offered by a cash property buyer is vastly better than selling your house through an estate agent. You can get a quote for the value of your house on the very same day and the whole process could be completed within 7-28 days. Very specialist firms can even offer a completed sale within 24 hours. In today’s turbulent housing market guarantees can be hard to find, but if selling your house fast is your priority, you could find a solution that puts cash into your bank account within days by using a cash property buyer.

Selling your house quickly for cash might not be for everything, but when life throws at you the unexpected it’s good to know that there are options out there: selling your home quickly for cash is just one. Your house could sell in less than a month for up to 75% of the market value, saving you time and the cost of a long drawn out sale when you need cash quick.
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