Profile picture for MarkB2012

I have been looking at trying to sell my house quickly...do you recommend a company that buys houses

  • June 25 2012 - US
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Answers (5)

Profile picture for MarkB2012
Hi Ofe,

After weighing out our options we have decided to possibly go through a rent to own program in order for us to have our current mortgage payment paid by a renter instead.  After researching our options it seems like he rent to own option is a much better pick for us because there doesn't seem to be as much risk involved.  I believe there is more risk with doing traditional renting because the renter doesn't have intentions of buying the property.  We would probably want to buy another property after we start renting our property on a lease to own program.  I have been reading that most lenders are requiring that you have at least 20% equity invested in your rental property before they will give you another loan.  Is this true?
  • July 02 2012
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Profile picture for Ofe Polack
Hi Mark, you definetely need to have a comparative market analysis done on the property so that you know how much over the amount that owe, you are able to go, since you will have closing expenses too.  
  • June 25 2012
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Profile picture for MarkB2012
Hi Ofe,

Thanks for replying back so promptly.  I owe $98K on my house right now between 2 mortgages.  I have an 80/20 financing plan that I signed to in 2006.  I would be willing to accept a payment of $98K from these companies and nothing less to pay off my 2 mortgages.  The reason I'm trying to sell my house is that the house repairs/maintanance has been turning into too much for me to handle.  The house was built in 1928 so there are alot of expensive repairs that need to be done to it in order to be a responsible homeowner.  Anyhow I haven't really done an extensive market analysis just yet.  I don't have a listing agent right now, but am very open to talking with a listing agent to help me figure out a solution to my issue.  I don't have a real estate attorney just yet, but I will definitely need to get one if I decide to take an offer from one of these "quick buy" companies.  Let me know your thoughts Ofe.
  • June 25 2012
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Profile picture for wetdawgs
If you wish to sell for approximately 50% of market value and aren't hoping for a short sale, the companies that buy houses for cash may be for you
  • June 25 2012
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Profile picture for Ofe Polack
How much $$$ are you willing to accept from those companies?  Have you done a comparative market analysis already?  Do you have a listing agent?  Do you have a real estate attorney to whom you can submit an offer from the company that buys your home?
  • June 25 2012
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