Owing more than your house is worth is not a favorable position if you should need to sell, even more so if you are under pressure to sell quickly for personal or financial reasons. Often already under a great deal of stress, taking on the sale of a house can seem like an overwhelming proposition. However, understanding your options can help you feel confident in your final decision about how you sell the house, which can significantly impact how much you profit. So read on as we explore how to sell your house in Los Banos and Surrounding areas if you owe more than it is worth.

How do you sell a house I owe too much on?

Short Sale

If you absolutely need to sell your home when you’re underwater, you might be able to convince your lender to approve a short sale. In a short sale, your mortgage lender agrees to let you sell your home for less than what you owe. In such a sale, you can price your home more aggressively to move it quicker.

A short sale is only an option when you can’t afford your monthly mortgage payments, your home is worth less than your current mortgage balance, and you don’t have cash on hand to make up the difference. In a short sale process, the lender has to agree to sell your home for less than what you owe on it. Tom and Nancy Buy Houses in Los Banos can help you. Tom and Nancy Buy Houses has options to choose from so you can get on with life.

What happens when you owe more than the house is worth?

If a homeowner can’t make enough from their sale to cover their mortgage balance, they will be responsible for making up the difference. Or, you will need to apply for a short sale with your lender, which is a type of sale where the bank agrees to accept less than the total remaining mortgage balance.

How do you get out of an upside-down house?

5 Things to Do if You’re Upside-Down on Your Mortgage

Make sure you’re truly underwater. …
Sell your house, and bring a check to closing. …
Stay put and pay down the principal. …
Find out if your loan is assumable. …
Consider a short sale.

Tom and Nancy Buy Houses consider so many things that you are going through. We can help you determine which is the best way for you and your family. We are here to listen to you.

What happens if I have negative equity?

Negative home equity puts the homeowner in a predicament if he or she is looking to sell. Prospective home buyers will only be able to secure a home loan for the current value of the home on the market, not for the amount that is owed by the lender. This is why so many home owners give up and just walk away from their homes. Don’t let this happen to you, with today’s economy things will be alright. How to sell your house in Los Banos and surrounding areas if you owe more than it’s worth. This is where Tom and Nancy Buy Houses comes to your rescue.

Commissions

Commissions add up fast when you’re trying to sell your house in Los Banos and Surrounding areas if you owe more than it is worth, and may leave you owing money at the closing table. However, professional buyers like those at Tom and Nancy Buy Houses never charge commissions, and there are no hidden fees when you sell your house directly. Instead, at Tom and Nancy Buy Houses, our local professional buyers offer in cash the exact amount you’ll have in hand after closing. And you won’t pay closing costs because at Tom and Nancy Buy Houses, our professional buyers provide a full-service in-house team of industry specialists to handle everything quickly and efficiently, allowing us to offer a guaranteed closing date, often within days. Or talk to your professional buyer at Tom and Nancy Buy Houses about selecting the best day for your closing, and we’ll work with you. How to sell your house in Los Banos and surrounding areas if you owe more than it’s worth, there are several options to choose from. Just contact Tom and Nancy Buy Houses or call us at 559-715-1651 and talk to us. We will help you determine which way to go.

Prep and Repairs

It’s best to make repairs and prep the house, making it attractive to buyers to earn the highest potential profit. However, it takes a great deal of time and effort to do this and make sure the house is prepped for an inspector, time and money to take these steps, which may not be a realistic goal when you need to sell your house in Los Banos and Surrounding areas if you owe more than it‘s worth. Professional buyers like those at Tom and Nancy Buy Houses will detail what you could profit from making improvements and listing vs. their offer to buy your house directly as-is. A direct sale to a professional buyer at Tom and Nancy Buy Houses means you don’t need to worry about passing the inspection, and we’ll take on the risks of repairs. And you can skip the prep and hassles of showings when you sell directly to a professional buyer at Tom and Nancy Buy Houses. We don’t ask you to make any repairs or get an inspector to your house. The professional buyers at Tom and Nancy will do this for you.

Current Market Value

If you’ve fallen behind on payments and you hear the distant rumbling of foreclosure from your lender, it is best to take quick action. However, you may find you can’t afford to pay the difference if you need to sell your house in Los Banos and Surrounding areas and you owe more than it’s worth. Professional buyers like those at Tom and Nancy Buy Houses can help you through the process of a short sale to avoid bankruptcy or foreclosure. At Tom and Nancy Buy Houses, our professional buyers are highly seasoned negotiators who will work with your lender to help you avoid the negative consequences of inaction that can drastically affect your life in many ways, including your credit score.

A direct sale to a professional buyer at Tom and Nancy Buy Houses is the best way to sell your house in Los Banos and Surrounding areas if you owe more than it is worth. With a straightforward process that is fast and simple, the professional buyers at Tom and Nancy Buy Houses and their team are proud of their work here in Los Banos and Surrounding areas and operate with a policy of total transparency. At Tom and Nancy Buy Houses, our professional buyers and their team are your neighbors here in Los Banos and Surrounding areas, and we care about our community and helping the people. That is why at Tom and Nancy Buy Houses, we want you to have the information you need to make an educated decision because we want you to feel good about the deal long after closing. Call Tom and Nancy Buy Houses at 559-715-1651.

. Reach out to us and let us know if we can help you.