What different options are available when you need to sell your home?

When you need to sell your home, things can get pretty emotional.

For one thing, you want to get the best price and terms possible. On the other hand, you have a timeline that could keep you up all night wondering how you’re going to make it.

In a perfect world, you’d be able to call your friendly real estate agent… get listed on the MLS… schedule the property for showings… and wait for the best deal.

For most people, however, it’s not that simple.

You may not have the capital necessary to pay commissions and fees. And you certainly don’t have an extra $10,000 to $20,000 to bring to the closing table…just to sell your house.

Or, you may not be able to sit back and wait 3-6 months of open houses and showings until the perfect buyer shows up, cash in hand, to pay you full price for your home. It could be a job transfer, an illness, or any other unexpected surprise in life.

In these situations, the best thing to do is wait and pray, or attack the problem a little more creatively.

There is an option available that most people overlook when trying to sell their property. One that can help you sell the house fast, get full price, and provide instant (or almost) relief on your mortgage payment. And that solution is to sell with a lease option.

A lease option (or rent-to-own) is when you sell your property to a qualified tenant/buyer through a lease-to-own option. The lease establishes a predetermined term, which can range from 6 months to 10 years (depending on the price you need to pay your current mortgage) and an option that sets the purchase price and closing terms.

By selling this way, you get the full retail price of your property, which is perfect if you don’t have a lot of equity or if your mortgage is higher than the home’s current market price, and you don’t have to pay any fees. or commissions, since you are selling privately and not through an agent or broker.

Now, you may be thinking, but I don’t want to rent my house, I just want to sell it.

And that is a completely valid statement. This is not the best solution. far from there However, it may be the solution that gets you under your payments and allows you to move quickly, while still getting full price when the tenant/buyer collects it.

The tenant/buyer is a different type of buyer. Not just a serial renter, jumping from one rental to another, but an actual buyer who really wants to buy his property, but needs more time to get his mortgage approved. Since the real estate crisis, home loans have become a headache. Working families, with steady jobs and sufficient income, are having trouble getting through all the loopholes created by lenders before they write a check…resulting in more time to save more for a down payment and fix any little kinks technician on your credit. They work monthly with mortgage brokers to get your paperwork on board to get your loan closed.

And this market is huge. Not many people right now can buy a home with cash, and those who can will rarely pay full retail price. After all, they have a huge bargaining advantage. So they will wait and make multiple low offers until they can find a seller desperate enough to sell for pennies on the dollar. However, if you are open to selling creatively, then you have access to this untapped market of real buyers (not a hedge fund or other foreign investment trust looking to improve their bottom line) who just want a beautiful home to live with. your families. . And you can have a win-win situation selling your home and helping these hard-working families at the same time.