If you’ve found yourself saying, “I can’t sell my house in Sacramento CA,” this article is for you. Maybe you’ve been trying to sell your Sacramento house for a while now and haven’t received any offers, don’t panic! You still have a few options at your disposal to help you sell your house for a fair price.
You’ve probably already tried the first one at least once: Lowering the asking price.
Everybody wants to sell their house for more than they paid for it but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problem, you may have to reduce your asking price.
What are my options if I can’t sell my house in Sacramento?
Here are five other things you can try when you can’t sell your house in Sacramento:
1) Take It Off the Market
You may be trying to sell your home at a bad time, such was when there are a lot of other houses just like yours on the market, during the winter months, or during the holidays.
If this is the case, you might be best served by taking your home off the market for a few months – if you can afford to keep paying the mortgage – and wait until market conditions improve. To be honest with you this really isn’t a good option to pick. Being a real estate professional, the issue is really coming down to a couple of issues. Price and condition of home. If this is where you find yourself with your home. I would encourage you to give my wife and I a call at Upright Property Investments. We can sit down and look at what might be the best option for you. Our promise in doing that is to do so openly and honestly. In compete transparency, giving you the best information that we can to help you make the best decision for you and your family. We are a real estate investment company, yet we are family owned looking to help you find the best path forward.
2) Take Out a Second Mortgage
If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things, including real estate investments.
3) Rent Out Your Home
If you can’t sell your home and don’t want to hold two mortgages (your old home and your new home) one option may be to rent out your home at or near the price of your monthly mortgage payment. That allows you to apply the rent to your mortgage without having to incur any additional expense – other than upkeep, maintenance and repairs.
4) Consider a Short Sale
“I can’t sell my house in Sacramento because I owe too much!” This can happen if you purchased your home within the past few years and currently owe more than the home is worth (called being upside down).
In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like the other option is foreclosure, your lender probably will accept a short sale.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (916) 775-6908 for a no-hassle offer on your house.
Keep in mind, however, that short sales can affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while. Before all this would take place we can make you a cash offer that can close in a matter of days. In addition to this there will be NO real estate costs or fees. Also there will be NO costs for repair. We buy homes in ANY condition. No matter how difficult it might look to you. You don’t see anyway out with the repairs that need to be done. With Upright Property Investments you can simply walk out the front door leaving all of those repairs to us! I know it might sound too good to be true, but it is true. You can leave all the cost and hassle of those repairs to us.
5) Offer a “Lease to Own” Option
A lease to own option is when you rent your house to somebody with the option to purchase your home at or before the lease expires. This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line.
You also can add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to buy your home – you can keep it as income.
I Can’t Sell My House in Sacramento CA!
If you are interested in learning more your options for selling your home in Sacramento CA, call us at (916) 775-6908 or fill out the form on this page to get more information sent to you right away.