Hard Time Selling No Equity?
The low equity situation is the most common we run across in today’s market. In Tulsa County, 1 in every 252 homeowners are in foreclosure. Approximately 55% to 70% of all properties listed for sale are either a pre-foreclosure currently owned by homeowner or is listed as a post-foreclosure called REO by the lender.
Traditional course of action for a seller in a low equity situation:
1. In most cases, the homeowner has tried to sell their home “for sale by owner” without any luck.
2. Is to list it through an agency. In order to cover the agent’s commissions and additional closing costs, they have to increase the price and compete with pre-foreclosure prices and REO’s which make up approx. 70% of all listings.
Since the price was increased, the likelihood of selling is reduced. Even if it does sell, what little equity you have is eaten away by the commission and closing costs.
Some real estate agents may even refuse to list your house because there isn’t enough equity to pay their commissions! Other real estate agents will see your house as lead source for potential buyers so that they can earn more commission by selling another house at a lower price point.
You don’t have to give away your equity to a real estate agent, no matter how small it is!
We purchase homes with little equity and in many cases are able to return much of that hard earned equity to the homeowner who deserves it the most.
Another thing you won’t have to worry about is paying a mortgage payment on a house you don’t want.
We will take this burden off your hands.
3. Is to stop making the monthly payments and let the house go into foreclosure.
If, your only option is to stop making the monthly payments based on a legitimate hardship that cannot be easily remedied, please call us at 918-409-0063. We are trained to handle the entire short sale process from start to finish and can work alongside of your existing real estate agent to make sure that they earn a commission at no cost to you.
We can in most cases, we can delay the foreclosure and negotiate the best short sale so that a Buyer can step in and pay off the related debts, giving you peace of mind and closure regarding this situation.
For a FAST RESPONSE please fill out the form below and we will send you a free report called the “5 Ways to Stop Foreclosure in 48 hours or Less at no cost while getting your agent paid in full”