How To Sell Your House Without Enough Equity
Traditionally in real estate sales, the seller pays for most of the cost of the transaction. Typical costs can be real estate commissions for both the buyer’s and seller’s agents, title insurance, escrow fees, real estate taxes, and often even fees for the buyer’s new loan.
In most cases, these costs will be in the range of 10% or more of the negotiated selling price. In today’s economy, money is tight for everyone. Particularly with FHA buyers, an additional 3% can be negotiated and come out of your sales proceeds. That means that for every $100,000 in the selling price, between $10,000 and $13,000 will be taken out of your proceeds at closing. $10,000 to $13,000 is a bitter pill to swallow for any home owner!
No wonder many sellers simply cannot afford to sell under these conditions. If you’ve bought your home with 100% financing in the last 5 to 10 years you most likely don’t have enough equity to cover these costs. And even if you’ve put up a 5% or 10% down payment, you may still be “under water” due to the declining markets and no appreciation.
We don’t need your closing costs. That’s why we are the best solution for you. At Homes365 - We Buy Houses, we have solutions for many different situations – yours could be one of them! If your property meets our buying criteria, we can buy your home even if you cannot afford to pay for the cost of selling, and we will even cover any closing costs for you.
At Homes365 - We Buy Houses. we come to agreements quickly and close even faster. In many cases we can pay cash for the property and close without any restrictions or approval processes from lenders or banks, so you can go on with your life.
Listing your property with a Realtor means having to place the property on the market, being patient until a buyer is found, negotiating a contract, curing the inspection items and finally holding your breathe until all contingencies have expired. Only then can you make it to the closing table.
Let us solve this problem in under a week. Working with Homes365 - We Buy Houses, you do not have to make any repairs or pay any commissions or closing cost. If needed, we will even rent you a truck to move any unwanted items.
Give us a call (571) 200-2365 today and submit a form
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“Don't be afraid to give up the good to go for the great."
— John D. Rockefeller
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— Henry David Thoreau.
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