Sell Fast

If you read the newspapers or watch your local news you know that selling a home in today’s market is a risky proposition . It's a buyers market and any qualified home buyers are looking for the perfect deal.  If you can provide a good deal, you still have a good chance your house will sell.  However, many sellers are not in a position to offer a good deal by today's standards.  You may have a house that has little, none, or even negative equity (if you sold it you would have to bring cash to closing).

You have five basic options for selling or getting rid of your house.  By process of elimination, you can choose the one that works best for you.  Most of the people we help would be best suited for item #4 or #5.

1. All Cash Sale - Most cash buyers are investors, and they typically can't pay full retail market value and require a discount.  If you have a lot of equity this might work, but if you don't have a lot of equity this won't work for you.

2. List Your Home and Sell with Realtor - After you pay a Realtor, closing costs, taxes, repairs (buyers today are really picky), etc you will only net about 92% of the sale price.  In addition, it can be on the market for months, all the while you're making house payments, utility, and insurance payments. And buyers today rarely pay full list price.  If you don't have the house value or the income this won't work for you.

3. Foreclosure - If you fall behind on your payments and have no way to catch up, the lender will foreclose and sell your house at auction.  A foreclosure is the "bomb" of all credit actions and will stay on your credit history for a very long time (in some cases forever).  This is the very worst way of getting rid of your house.

4. Short Sale - If you're behind on your payments and don't have the means to catch up, and your house won't sell for enough to pay off all of the liens, you may be able to sell your house with a short sale. In a short sale the lender agrees to take less than what you owe so they don't have to foreclose.  We can help you with this if it's necessary, and it's much better than a foreclosure.  CLICK HERE to get the details about doing a short sale.  But there may be a better way, refer to #5 below.

5.  Trust Selling System - This is cutting edge! - Most people looking to sell their house really just need to get out from under their payments.  If you are willing to leave the mortgage in your name for a while, we can take over the monthly payments and all expenses for taxes, insurance, maintenance, and utility costs.  We will sell the house somewhere down the road when the market is better and pay off your loan.  If you have been late with payments, it will actually improve your credit scores.  It won't work if you are way behind on your payments, or you don't have an attractive loan with reasonable payments.  We can typically close within 30 days.  CLICK HERE to get the details about the Trust Selling System (NOTE:  this will take you to a different but related site.  Hit the "Back" button to return).

Below is a chart that will show you the different options for a particular scenario, and you can see that the Trust Selling System is the best way to go.  It's your "least worst option".

 

Homeowner Options for Selling or Getting Rid of a Home

Assumptions:
Current Fair Market Value (FMV):  $150,000
Balance of Loan(s):  $155,000
Repairs Needed:  $5,000 (minor)
Cost of Sales: 1% close + 6% comm + 2% buyer = approx 91% of offer
Sales Strategy	Sale Value	Offer you will get	Credit Hit	Time it Takes	$ Paid by Seller
1. CASH Sale	70% X FMV - Repairs	$100,000	No	1-2 weeks	$55,000
2. List Home	100% FMV - Repairs	$145,000	No	6 mo +	$24,500
3. Foreclosure	N/A	N/A	Yes	3 - 6 mo	$0 *
4. Short Sale	80-90% FMV - Repairs	$120,000 - $130,000	Yes	6 - 9 mo +	$0 *
5. Trust Selling System	Loan Balance	$155,000	No	2 - 6 weeks	$0
	* Seller may receive 1099, deficiency judgment, etc