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 Buffalo, NY if you owe more than it is worth. Selling a home in Buffalo when you owe more than it’s worth, also known as being “underwater” on your mortgage, can be a challenging and stressful situation. However, it’s not impossible, and there are several strategies to help you navigate this process. Whether you’re facing financial difficulties or simply need to move, here are some options for selling your home when its value has fallen below the mortgage balance.
Commissions
Commissions add up fast when you’re trying to sell your house in Buffalo, NY if you owe more than it is worth, and may leave you owing money at the closing table. However, professional buyers like those at Buffalo Brick & Mortar LLC never charge commissions, and there are no hidden fees when you sell your house directly. Instead, at Buffalo Brick & Mortar LLC, 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 Buffalo Brick & Mortar LLC, 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 Buffalo Brick & Mortar LLC about selecting the best day for your closing, and we’ll work with you.
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 wherewithal, time and money to take these steps, which may not be a realistic goal when you need to sell your house in Buffalo, NY if you owe more than it‘s worth. Professional buyers like those at Buffalo Brick & Mortar LLC 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 Buffalo Brick & Mortar LLC 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 Buffalo Brick & Mortar LLC. If you owe more than your home is worth, the first step is to get a clear understanding of your financial situation. Speak to your lender to explore your options, and consider working with a real estate agent experienced in short sales. If you’re unable to proceed with a short sale, a deed in lieu of foreclosure or selling to a direct buyer may be your next best option.
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 Buffalo, NY and you owe more than it’s worth. Professional buyers like those at Buffalo Brick & Mortar LLC can help you through the process of a short sale to avoid bankruptcy or foreclosure. At Buffalo Brick & Mortar LLC, 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. Selling a home when you owe more than it’s worth can be a complicated process, but there are options available to help you move forward. Whether you opt for a short sale, deed in lieu of foreclosure, or sell to a direct buyer, understanding your choices will give you the best chance of avoiding foreclosure and starting fresh. Consult with a real estate professional or financial advisor to determine the best course of action based on your specific situation.
A direct sale to a professional buyer at Buffalo Brick & Mortar LLC is the best way to sell your house in Buffalo, NY if you owe more than it is worth. With a straightforward process that is fast and simple, the professional buyers at Buffalo Brick & Mortar LLC and their team are proud of their work here in Buffalo, NY and operate with a policy of total transparency. At Buffalo Brick & Mortar LLC, our professional buyers and their team are your neighbors here in Buffalo, NY, and we care about our community and helping the people. That is why at Buffalo Brick & Mortar LLC, 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 Buffalo Brick & Mortar LLC at 716-403-2016.