The latest catchphrase is ‘sell my house fast’. Every day I receive dozens of phone calls from desperate homeowners asking the same question. Although each caller has a unique story, they all want the same miracle. While I wish I could wave a magic wand and locate qualified buyers willing to pay full price in a saturated real estate market, it’s never going to happen. At least not in this lifetime.
Although sell my house fast sounds like an oxymoron in today’s downturned market, there are ways to become unsaddled from your mortgage note. Some techniques are complicated, others are simple. Much will depend on the balance of your mortgage note and what you are willing to do to sell your home.
Some homeowners are turning to we buy houses programs in an attempt to avoid foreclosure. In fact, this topic recently made headline news. With the abundance of foreclosures, it was inevitable scammers would find a way to prey on desperate homeowners. The problem is, many of homeowners are signing away the deed to their home while still being held responsible for the mortgage payments.
This is not to say all home buying companies are scams. Nothing could be further from the truth. Legitimate organizations have helped thousands of borrowers sell their home and provide them with a fresh financial start.
One way to ensure you are doing business with a reputable house buying company is to engage in due diligence. All legitimate businesses must be licensed in each state where they conduct business. Business licensing is typically overseen by either the Department of Revenue or Secretary of State.
Thanks to the Internet, it is easy to validate company business licenses. Start by typing in the name of your state and the government agency that handles business registrations. For instance, if you reside in Florida, type in “Florida Department of Revenue” or “Florida Secretary of State” at your favorite search engine.
Real estate experts advise working with a realtor and real estate attorney when buying or selling real estate. When homeowners are in financial straits and need to sell their home fast, they tend to forego important services; particularly legal services. At minimum, real estate documents should be reviewed by an attorney to ensure they are legally binding and appropriate property transfer forms are submitted.
One overlooked resource for selling real estate quickly is private investors. Although the real estate market is in a slump, investors are buying up properties at record speed. Throughout history real estate has always been a smart investment. Investors strongly believe the market will rebound. By purchasing real estate now, they can potentially amass a fortune in the future.
If you’re thinking “I need to sell my house fast” consider seeking out private real estate investors. Most investors buy houses with cash, which can expedite closing and potentially save thousands in realtor commissions and closing costs.