Does anyone know somebody that could pay up to 85% of what my house is worth and want to buy it cash. It is in good conditions and has a huge yard and a pool, but I am facing financial problems and I need to sell it, and it would take so long with a realtor.
2007-06-14 08:36:06 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
First of all, NEVER REVEAL or SHOW YOUR CARDs bec "To Do So you have loss important LEVERAGE and also revealed insider information that that tells a Smart Buyer you might even be willing to go below 85% if no other buyers just bec you're desperate and having financial problems."
I'm not nor do I need to know what your financial problems are except in annalyzing your situation, hopefully the 85% figure is enough to pay your existing mortgage balance, settlement costs and leave you enough remaining equity bec SECOND very few legitimate buyers are going to bring cash on financing real estate bec that is the OPPOSITE of all REAL ESTATE INVESTMENT PRINCIPLES rather most will get a mortgage and then My Friend, no financial institution would approve a loan that if the PRICE you want exceeds the appraisal.
You didn't say where you might live if your house actually sold? But here are some suggestion that might brung yiu cash for your financial problems if you are unable to sell your house: (i) check on the amount of equity you could remove in cash if you were to refinance it and have the closing costs rolled in as well; (ii) maybe your house is now to big and you want to downsize, if you can sell -- then what about renting rooms to good tenants to generate some monthly incoming cash flow?
If I think of other possible alternatives, I might come back and edit my Yahoo Answer... Otherwise, Best of Luck and God Bless!
2007-06-14 11:24:15 · answer #1 · answered by dvskv 7 · 0⤊ 0⤋
Are you certain you 'know what your house is worth' ? Don't guess at it. Engage the services of a licensed appraiser, advising that you want an appraisal for 'fair market value', and not for any sort of refinancing. You can also ask a local realtor or two to do the same for you, save that the appraisal won't be legally qualified, but they usually do it no charge.
If you market the property, based upon that appraisal, at 15% less, you should not have an issue finding a qualified buyer.
2007-06-14 15:44:54 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
How do you know how long it would take with a realtor? Even if you sell it yourself the buyer is going to want to have it inspected and all of that.
2007-06-14 15:51:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Maybe you haven't found a person dedicated to there work. But anyhow if your in a big city look around at the billboards that you come across and look in the newpaper's as there will be column's that have people that buy destressed properties.
2007-06-14 15:49:46 · answer #4 · answered by Scott 6 · 0⤊ 0⤋
Do you have a lot of equity in the house? You can contact real estate investors and market your property that way. But doing it yourself is like going to court without a lawyer.
2007-06-14 15:40:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Price is the issue in a fast home sale. If you price it low enough it will sell fast. Use a real estate agent so you have profession help through the process.
2007-06-14 15:44:57 · answer #6 · answered by Diane 3 · 0⤊ 0⤋
I invest in real estate and, depending on the area and price I could pay cash. If you are serious please send details to rlloydevans@yahoo.com
2007-06-14 16:21:24 · answer #7 · answered by rlloydevans 4 · 0⤊ 0⤋