Selling a house when you owe more than its worth can be a challenging situation, especially if you’re under pressure to sell quickly due to personal or financial reasons. It can be an overwhelming prospect, but understanding your options is crucial for making a confident decision that maximizes your profit. Here’s a guide on how to sell your house in Greater Los Angeles under such circumstances.
Commissions
When selling a house in Greater Los Angeles while being underwater, commissions can quickly eat into your proceeds, potentially leaving you owing money at the closing. However, there are alternatives to traditional real estate agents. Professional buyers like Homesmith don’t charge commissions or hidden fees when you sell directly to them. At Homesmith, our local professional buyers offer you a cash payment that reflects the exact amount you’ll receive after closing. Additionally, you won’t have to worry about closing costs because Homesmith provides a full-service in-house team of specialists who handle everything efficiently, often resulting in a guaranteed closing date within days. Alternatively, you can discuss your preferred closing day with Homesmith’s professional buyers, and they’ll work with you to accommodate your needs.
Prep and Repairs
Ideally, you would make repairs and prepare your house to attract buyers and maximize your profit. However, this can be unrealistic when you’re facing negative equity. Professional buyers like Homesmith Group will assess the potential profit from making improvements and listing the property versus their offer to buy your house as-is. Opting for a direct sale to a professional buyer means you won’t have to worry about passing inspections or taking on the risks and expenses of repairs. Additionally, you can skip the preparations and showings that come with traditional sales.
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 Greater Los Angeles and you owe more than it’s worth. Professional buyers like those at Homesmith Group can help you zero in on the properties current market value and, if needed, help you through the process of a short sale to avoid bankruptcy or foreclosure. At Homesmith Group, 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.
Ideally, you would make repairs and prepare your house to attract buyers and maximize your profit. However, this can be unrealistic when you’re facing negative equity. Professional buyers like Homesmith will assess the potential profit from making improvements and listing the property versus negotiating a short sale versus their cash offer to buy your house as-is. Opting for a direct sale to a professional buyer means you won’t have to worry about passing inspections or taking on the risks and expenses of repairs. Additionally, you can skip the preparations and showings that come with the traditional sales process.
No Obligations To Give Homesmith Group A Try
Selling your house directly to a professional buyer at Homesmith Group is the optimal solution when you owe more than it’s worth. With a straightforward and expedient process, Homesmith Group’s professional buyers and their team prioritize transparency. As members of the Greater Los Angeles community, they genuinely care about helping people and want you to make an informed decision that you’ll feel good about long after the closing. Contact Homesmith Group for a free no-oblication consultation at (855) HOMESMITH (466-3764) to get the information you need and explore your options.