Stormy Seas… Need to Sell a Home Fast Austin?
Finding oneself in the category of a ‘distressed homeowner’ can be unsettling and, let’s face it, downright depressing. It’s a journey that one doesn’t get to overnight. Usually it starts with the loss of a job, curtail of income, an illness, a death, or a combination of those things. It’s a slippery slope that leaves one maxed out, financially and emotionally. The anxiety looms over like a dark cloud before a catastrophic storm on the ocean.
Sometimes the hardship might be an inheritance of a property. We think of an inheritance as a good thing, however in certain situations where an individual is struggling to make ends meet in their own current situation, the added financial pressure of dealing with another property’s maintenance, taxes, and upkeep, can be too much to bear. The gift that was meant to be a blessing, can instead become a curse. In trying to do the right thing, you can find yourself falling behind everywhere.
That one missed payment becomes an avalanche of late fees, penalties, and accrued interest. Because of the swiftness of Texas foreclosure laws, you can find yourself facing the possibility of losing your property in just a matter of 3 months. Add to that the fact that perhaps the home has maintenance issues making a traditional sale almost impossible. If this is you, dear reader, you are not alone. Although the housing market is on the rise in the Austin area, many are still looking for fast solutions to sell their home.
The worst possible thing you could do in this situation is DO NOTHING! You will most definitely end up in foreclosure if this is your solution of choice. There are options! The first thing to determine is whether there is equity in the property. If you do not have equity you may qualify for a loan modification or a forbearance /reinstatement plan. You should discuss this option with your lender. If these solutions are not a possibility, then you may qualify for a short sale of the property. In this situation, your lender agrees to take less than what is owed. There are also government programs available in some situations where you could receive relocation assistance.
If you do have equity in the property then you have even more options. You might be able to sell your property through the traditional route. That is by getting an agent, fixing up your property, listing it, enduring the masses traipsing through your property, followed by the ever popular inspection/option period after you get it under contract. Hopefully it will sell in the time needed for the desired price. Your other option is to sell to a company like I Buy Austin Houses. Rather than losing everything you’ve invested into a home, you can sell the home and pay off your lien, regardless of the home’s condition.
This option eliminates the necessity of fix ups and/or inspections. Selling to an investment company is faster and offers less hassle than a traditional sale. If you are in a situation where time is of the essence, this might be the best choice for you.
Whatever your situation, it is important to remember that you have options and that there is a solution for you. Remember after the storm the seas are almost always calm. Hang in there! Call us today or fill out our simple online form!