I can't sell my home and am desperate. How can I find a legitimate investor to buy it without getting screwed

Question

House is in good condition, Cleveland OH area.

Answer 1

There are several ways in which to do this. You seem to be ready for a fire sale. You have to decide how much time you want to spend selling this home.

Have you had this property on the market and it did not sell for some reason? If you did you need to find out the reason or reason's it did not sell.

Did you have it listed with an agent?

To sell it in the OLd Fashion Way" List it with an agent, after interviewing three. One question you might ask immediately is how fast can we get rid of this home and your marketing strategy.

This way you will be expected to place the property in the best possible light for selling at the optimum price.

You can advertise in your local nespaper about your potential sale, when the property will be available for open house and that the house is being sold by the owner. You will also be required to have it in pretty good condition to sell.

Now if the fire sale is here and now, simple advertise in the local paper investor special quick sale needed. Now remember these people make a living at buying property cheap, doing a little painting, carpet work and perhaps a remodel of the bath and kitchen, after which they place the property bacvk on the markiet for full value or as close as they can get to full market value.

you are at their mercy because you have given up any and all leverage you might have had.

You should get several calls and set several appointments for these investors to see the house. They are gonna point out everything they find wrong so they can offer you the lowest prce for the property.

Now that you have set the appointments, get each of them to write up an offer on the property, Not just a verbal one. Tell them you will consider their offer and get back to them within a week. Select the best offer or what ever other consideration that made you make your decision to select them. Once you have slected the one you are gonna sell to call and let them know. Also call the others and tell them they were not selected.

Don't let either one place in their offer, " I reserve the right of first refusal." This gives them the right to challenge your best offer and make a counter.Tell them you are not interested in playing games and you want them to make their best offer their initial offer. They will tell you that they put this in all their contracts, tell them yeah, but not this one.

Also tell them you want an all cash deal, but the most important thing is you want your name off the mortgage, so watch out for another item in the contract "This offer is subject to the existing mortgage or loan or what ever they have in OH. This clause gives them the right to take over your existing mortgage until they sell the properrty to someone else. Your name will still be on the mortgage and you will still be responsible if something should go wrong.


I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

Why is it vital that you sell your house now? Did you buy another house or is the mortgage too much to handle? If things are tight watch your budget. Here are some tips: http://www.findlocalinsurance.com/library.html

Answer 3

if you owe more that it is worth, noone will invest in that home. Your trying to put together a deal that would only bring in a thief. Call the bank and offer to give it back. Try a deed in lieu.

Answer 4

Do you have an agent? They will screen all potential buyers. They will also protect your interests.