We buy houses in Selma TX. If you’ve found yourself thinking, “I can’t sell my house in Selma TX,” then this article is for you. Maybe you’ve been trying to sell your property in Selma TX for a while now and haven’t received any offers. Don’t panic! As homebuyers in Selma TX, we bring you a few options at your disposal to help you sell a house fast for a fair price.
If you’ve had your home listed with a realtor, you’ve probably already tried the first one at least once: Lowering the asking price.
Everybody wants to sell their property fast for more than they paid for it, but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problems, you may have to reduce your asking price. It’s possible your asking price was too high in the first place.
What Are My Options If I Can’t Sell My Home in Selma TX?
Here’s a list of five other tactics you can try when you’re struggling to sell your property in Selma TX:
1) Take Your Selma House Off the Market
Timing may not have been on your side. There could have been a lot of other houses just like yours on the market; maybe it was during the winter months or during the holidays. It could be your agent didn’t do a bang-up job.
If you think this might be the case, there are many real estate professionals who think you might be best served by taking your home off the market for a few months – if you can afford to keep making the payments – and wait until market conditions improve.
2) Take Out a Second Mortgage in Massachusetts
If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable-rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things, including real estate investments.
3) Rent Out Your Selma TX Home
If you can’t sell your home and don’t want to pay two mortgages (your old payment and your new payment), you have the option to rent out your home at or near the price of your monthly mortgage payment. This option could allow you to apply the rent to your mortgage without having to incur any additional expenses other than upkeep, maintenance, property management, and repairs.
4) Consider a Short Sale in TX
“I can’t sell my house in Selma because I owe too much!” This may have happened if you purchased your home within the past few years and currently owe more than the home is worth (called being upside down or having negative equity).
In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like the other option is foreclosure, your lender probably will accept a short sale. Usually, the bank will need documentation that the house is in bad shape and will send an appraiser to verify the condition.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (210) 793-4448 for a no-hassle offer on your house.
Keep in mind, however, that short sales can affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.
5) Offer a “Lease to Own” or “Owner Financing” Option in Selma TX
A lease to own option is when you rent your house to somebody with the option to purchase your home at or before the lease expires. This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line.
Make sure you talk with an experienced real estate attorney about this type of transaction. The laws are very specific about how they must be handled.
You can also add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to buy your home – you can keep it as income.
Cash for Houses in Selma TX
It’s really good that you’re reading this page and exploring your options. We help homeowners like you find creative solutions. Sell your house in Selma TX directly to us. We can’t help everyone, but we might be able to help you.
We are Selma TX home buyers and we purchase properties like yours from people who need to sell fast.