If you’ve found yourself saying, “I can’t sell my house in San Antonio TX,” this article is for you. Maybe you’ve been trying to sell your San Antonio house for some time and haven’t received any fair offers or NO offers, don’t panic! You still have a few options at your disposal to help you sell your house for a fair price.
Im sure you’ve probably already tried or thought about the first one at least: Lowering the asking price.
Everybody wants to sell their house for more than they paid for it but if houses in your area are not selling, or the economy’s not doing well, Intrest rates are extremely high, or your home has some sort of structural or locational problem, you might have to reduce your asking price. These are a few factors that can impact you when selling your home. But no worries you have a few options.
What are my options if I can’t sell my house in San Antonio?
Here are five things you can try when you having trouble selling your house in San Antonio:
1) Take It Off the Market
You may be trying to sell your home during a bad time, such as when there are a lot of other houses just like yours on the market, These are signs that the market has slowed down and buyers are not buying.
If this is the case, it might be best by taking your home off the market for a few months to see if the market readjusts home buyers begin to buy again– if you can afford to keep paying the mortgage – and wait until the market conditions improve.
2) Take Out a Second Mortgage
If you have found yourself in a situation where you need to sell due to falling behind or can’t afford the payment. Then take out a second mortgage If you built a lot of equity in your home, -but only 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 but 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 expenses – other than upkeep, maintenance, and repairs. This allows you an opportunity to sustain an asset and wait until the market conditions improve.
4) Consider a Short Sale
“I can’t sell my house in San Antonio 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. The foreclosure process is lengthy and costly so they will want to avoid foreclosure.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, Home Buyers SA TX can do that! If your needing assistance Give us a call today at (210) 693-0422 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.
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 have buyers who are not qualified 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.
This also allows you to 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.
Needing to Sell Your House
Interested in learning more about your options for selling your home in San Antonio TX, call us at (210) 693-0422 or fill out the form on this page to get more information sent to you right away.