Things you can do it your property isn’t selling.
There are few situations more frustrating than struggling to sell your home after you put it on the market. You may have spent a while making it look show-room ready, worked tirelessly with your real estate agent, and tried to get the word out there. Even when the market is hot, some properties can stay idle for some time. Here are some things you can do if your property isn’t selling.
Consider another mortgage
For sellers who are selling based on financial troubles, sometimes taking out another mortgage is an option for generating cash. There are various financing options out there for homeowners, like getting a home equity loan or refinancing a mortgage to get a better rate and restart your term. Keep in mind that getting a home equity loan is only a short-term solution to this issue.
Rent to own
Rent to own offers, or lease options, are a favorite way to attract buyers who are not sure that they want to be a homeowner. They can rent the home at what is typically a higher cost than market rent to have the option to buy the home for a specified price. Rent to own tenants typically take better care of the property, even if they don’t end up buying.
Drop the price
This is a last resort to selling your property. Making a steep price reduction is an option but should be fully considered before doing so. There are always investors and real estate buyers out there hunting for good deals, so you may not have to wait long for a buyer if you take this step and the price drop puts it below market value.
The real estate industry can be a minefield, so it pays to have someone trustworthy by your side. Serving all of California and Texas, contact Andraya Coulter to get access to the top home loans. I can help you secure the loan that will land you the house of your dreams!