While selling with a lease option isn’t the best option, it can be a good alternative if you’re willing to wait a little longer and want to get maximum value for your home. Perhaps you don’t have any equity or are underwater on your mortgage. Sell Your Gainesville Home Today-We Buy Houses is an excellent resource for this. The benefits of selling to an investor include receiving cold, hard cash in under 30 days, regardless of the state of your home. If your house needs a lot of repairs and you don’t have the money or resources to repair it yourself, this is typically a good deal. This is also a smart idea if you need cash in your hand right away to deal with an emergency such as a family death, medical expenses, or the taxman breathing down your neck.
The disadvantages of selling to an investor are that you would need a lot of equity. The majority of buyers will only sell 50-65% of the market value minus repairs. So, if your house is worth $150,000 after renovations and only needs $30,000 in repairs, the most you can demand from an all-cash investor is about $60-70,000. Obviously, your mortgage balance must be less than that amount, or you will be responsible for the remaining balance at closing.
The next technique for selling your house quickly is to list it with a Realtor or agent; however, you should price it at least 10% below what comparable listings are selling for. This encourages buyers to consider your property first because it is the cheapest when their agent searches the area’s listings.
The advantage of selling this way is that you can normally find a buyer quickly because, as previously mentioned, your house and listing would appear as the lowest priced option in a group of homes for sale. Additionally, the prospective buyer’s loan would be easier to close because the valuation would usually show the property to be worth more, and the lender would be far more comfortable making a loan on an undervalued property.