Cash For Your Home
So you have decided to sell your home but you want to sell it quickly. If this is a situation that you find yourself in, you may want to consider a very important fact before you sell your home. There are companies that will sell your home quickly but you will not make as much money as if you are patient and have to the time and the ability to sell it yourself.
These companies will pay you approximately 65 percent of what your home is worth. They will then flip your home to a buyer who is looking to purchase a home for between 80 to 90 percent of market value. As you can see, you would lose approximately 15 to 25 percent of the homes actual value. Of course, if you were selling your home in a normal manner you could get up to 100 percent of the homes market value.
For homeowners who have decided to sell their home quickly they do have other options to help them retain the full price of their home. One of the options that they will have is to rent the home until it is sold. This will allow the homeowner to maintain any monthly mortgage payments that are owed to the financial institution that holds the mortgage.
Lets say for example that you had a house that was worth $200,000. If you sold it for 65 percent of its value you would get a return of $130,000. The buyer then would be able to flip your home for a price of approximately $170,000. This would allow the final buyer to save $30,000 off of the market value of the home. However, you would lose a minimum of $40,000 by selling it quickly. If you waited for the home for sale at a fair market value it could mean even a greater difference of $70,000 into your pocket.
Many of these companies use the home-owners equity as a starting point for their negotiation. For example, if you tell the investor that you still owe $75,000 on a $100,000 mortgage then they will offer you $75,000. However, you will still be responsible for the remaining $25,000 that is owed to the bank.
Some homeowners get into these situations because they have had no success when listing their home with a real estate agency. This however should not be a deterrent because it may be just a matter of choosing a different real estate agent or doing a few minor renovations to make your home more attractive. Besides renting your home you can also do a lease to own agreement with a potential buyer.
As a homeowner you need to be also leery when selling your home to a company that promises you something that seems too good to be true. There are legitimate home buying companies that will provide you with upfront money but there are also many companies that will try to scam you out of the equity in your home. A legitimate real estate company will always take their fee from the end of the transaction. Always check with your local Better Business Bureau and do some Internet investigations before you sign on the dotted line.
IF YOU WANT Cash For Your Home and to deal with a reputable and fair home buying company, CONTACT HomeSolutionsFla for a full cash offer on your house.