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 if you owe more than it is worth.
Commissions and Closing Costs
Commissions add up fast when you’re trying to sell your house in Kansas City if you owe more than it is worth, and may leave you owing money at the closing table. This happened to us in 2006 when we moved across the state and had to leave our old house listed with a real estate agent. It took 9 months to sell and we were stuck having to bring money to be able to close.
Cash home buyers like those at Mastiff Home Buyers never charge commissions, and there are no hidden fees when you sell your house directly. When you sign a contract with Mastiff Home Buyers , you will know exactly what amount you can count on at closing. Typically you won’t even pay any closing costs because we understand how all of these little things add up and you just want to move on with your cash in hand. at Mastiff Home Buyers , We handle everything quickly and efficiently, so we may be able to offer a guaranteed closing date, sometimes within days. If you need more time, but want to know that your house is sold, talk to Angel or Jeramie at Mastiff Home Buyers about selecting the best day for your closing, and we’ll work with you.
Updates and Repairs
If your home needs updates, it may be worth investing in them to increase your home’s value and appeal to potential buyers. Repairs will need to be made if you plan to put on the open market for owner occupant buyers. Repairs may be simple, like fixing leaky faucets or replacing light fixtures or more significant repairs such as replacing a roof or updating a kitchen. It is best to make repairs, making it attractive to buyers to earn the highest potential profit without having to negotiate a reduced price, if you plan to list the property with an agent or for sale by owner. However, it takes a great deal of wherewithal, time and money to make some repairs, which may not be possible when you need to sell your house in Kansas City if you owe more than it‘s worth. Professional buyers like those at Mastiff Home Buyers 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 Mastiff Home Buyers 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 Mastiff Home Buyers .
Current Market Value
Understanding your home’s current market value is essential when selling your home. You can start by researching recent home sales in your area to see what similar homes are selling for. You can also work with a real estate agent to get a professional opinion on your home’s value. While we know that the Zillow estimate is not usually correct, it can give you a ballpark to start with if you look at the properties that have sold in your neighborhood. Keep in mind that the properties have to be very similar in beds, baths, square footage, as well as updates. You can’t compare your 2004 original finished house to one that has been completely updated in 2023.
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 Kansas City and you owe more than it’s worth. Professional buyers like those at Mastiff Home Buyers can help you through the process of a short sale to avoid bankruptcy or foreclosure. At Mastiff Home Buyers , 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 Mastiff Home Buyers may be the best option to sell your house in Kansas City if you owe more than it is worth. Our process focuses on you and identifying what solutions might be best for you. Our service will assist you in executing the solution that we arrive at. what you need. At Mastiff Home Buyers , Angel and Jeramie are your neighbors here in Kansas City , and we care about our community and helping the people. That is why at Mastiff Home Buyers , 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 Mastiff Home Buyers at (816) 535-0076 .