Selling your house fast with an existing mortgage in Roanoke is possible!
Homeowners all around Roanoke are struggling to keep up with mortgage payments with this sudden shift in the economic landscape.
But don’t worry, you have options.
Did you know you can sell your house fast with an existing mortgage in Roanoke?
Selling your house fast with an existing mortgage. Didn’t know that was possible? It is and here’s how we do it…
1) Agree on sales price with the buyer.
2) Buyer then closes on the house and takes title with your mortgage in place.
3) Buyer then continues to make payments to your lender on your mortgage.
Of course there are several layers of paperwork to make sure you are protected and the transaction is legal. And when we buy your house we close all properties through our attorney’s office or title agency. Everything we do in buying houses is legal and ethical.
Selling your house with an existing mortgage in Roanoke is a great way to quickly sell your house even if you owe more money that the house is worth.
But you also have other options:
1) Sell your house on lease option or rent to own. To do this follow these steps… A) Advertise as a rent-to-own online. Set your monthly rent higher than your mortgage expenses. B) Verify potential tenants with background checks. To find a strong tenant make sure their credit is not too bad, rental history is good and job/income verification. Also, and this is the biggie, find out how much they can put down as “option money”, it should be at least 10%. C) Manage the relationship. Have separate contracts for the lease and the purchase agreement. If for some reason they stop paying, it is far easier to evict using the lease than trying to foreclose.
2) Sell your house for sale by owner (FSBO) under market value. The number one reason FSBO’s don’t work is because of a high asking price. If you’re falling behind on payments you don’t have time to wait. List your house at a price that gets you out of a bad situation before you’re foreclosed on. Just make sure you’re sales price covers your mortgage and closing costs.
3) You can also sell your house using the traditional model by listing the property with an agent, but honestly if you are in need of selling fast this will probably not be the best route. You could get locked into a listing agreement that would last well beyond the timeframe you have to sell before being foreclosed on.
4) Sell for cash to an investor. This option is by far the fastest method to sell your house with an existing mortgage but also stands to net you the least amount. We buy houses cash as well.
If you need to sell a house fast with an existing mortgage in Roanoke contact us today to see if we’re a good fit.
NO obligation. NO cost. NO pressure. You really have nothing to lose in contacting us today.