Selling a home the traditional way can often be an arduous process involving real estate agents, escrow officers, loan officers, appraisers, and many others. Often it takes months of weekend open houses and strangers trudging through before you can achieve the final goal of a sale. Even worse, once the sale is complete, you still have to pay the real estate agent their 4%-6% commission and other closing fees.
Even if the agent did a great job, that can be a tough pill to swallow! Now all of this assumes that you have the equity in your property (or a lot of extra cash on hand) to pay the selling costs and the freedom to wait for up to several months for your home to sell. What if you don’t have the equity to pay closing fees? What if your property is in poor shape and won’t qualify for traditional bank financing? What if you don’t have the freedom to wait month after month for your property to sell? There is an answer! Yes, you can sell your home in 7 days or less!
The key to selling in 7 days or less is to think beyond traditional forms of selling. Selling is the “”what””, but what is the “”why”” behind your need to sell? Are you looking for debt relief, as so many with large mortgage payments are these days?
Is your property in such poor condition that you can’t afford investing tens of thousands of dollars to get it in marketable shape? Do you just not have the time to wait for the property to sell the traditional way, which can take months? Do you have limited equity and/or cash, and therefore limited capacity to pay selling costs? If any of these cases, think outside the box. Think beyond the traditional way to estate investment companies such as ours specialize in helping people sell the non-traditional way. The following are a few of the ways they can help:
For properties in poor condition, this may be the only option to complete a sale because banks won’t lend on properties in poor condition. However,real estate investors not only have the cash to purchases such properties, they actively seek them! Many real estate investors make a living by turning the ugliest house on the block into a real estate gem! Cash transactions can be very easy and quick to complete, often in just a few days.
Be the bank
If you are willing to provide the financing, often an investor can give you more for your property than if they purchased it for cash. In a credit crunched economy, access to good financing is king! Being the bank can help you offload the property and provide you with an income stream that can last for years. Seller financing transactions can be structured and closed in a matter of days.
A lease is not necessarily a sale, but if you are looking for payment relief, a lease can accomplish that for you. If you lack equity and available cash, it may not be possible to sell the traditional way because of selling costs, which can equal up to 7%-8% of the selling price or more depending on the size of the agent’s commission, seller concessions, and other costs.
If you have reasonably good financing on the property, a good real estate investor can often structure a lease that will give you the payment relief you are looking for. Leases often can be structured with a future purchase provision as well, so not only do you get payment relief, you eventually can sell the property to the lessee as well!
Getting out from under a seemingly impossible situation is always a good feeling, but you know what feels even better? The fact that all of this can happen in days, not months! Yes, you can sell a house in 7 days or less!”