There’s no problem worse for a homeowner than a problem with the foundation of the house. With such a pressing issue with the building, it can make moving forward seem overwhelming, especially if you are considering selling your property.

If your house has a foundation problem you already know about or just discovered in an inspection, the real question becomes – can you still sell it?

The short answer is – of course, you can still sell your house. But not without considering how it will impact your finances or the types of offers you will receive.

Here’s a closer look at your options when it comes to selling your house with a foundation problem.

 

What Are the Options For Handling a Home’s Foundation Problem?

Any time there is a major issue with the property you are trying to sell, it’s important to find out the options available to you.

Before selling, you want to make sure what you choose to do makes the most financial sense. That, of course, depends on your individual circumstances. But it helps to be prepared and aware of what can happen.

Take this homeowner’s experience for example. Joel owned his house for over 10 years when he decided it was time to sell. He paid for an appraisal and signed a contract with a real estate agent to help him with the sale of his property.  

As soon as he listed it, he received several offers. When the inspection came back from the first set of buyers, it revealed a crack in the foundation of his home. The potential buyers asked for it to be repaired as a condition of their offer.

The cost of fixing the crack was substantial and Joel didn’t have that type of money handy. Instead of repairing the foundation, Joel decided to re-list his property for less while disclosing the problem.

 

Based on the initial enthusiasm potential buyers had for his property, he hoped he’d receive more offers.

But a crack in the foundation of his home was enough to scare off potential buyers and Joel ended up with no offers on his property.

Joel was unaware of other options for selling his house so he decided to refinance his property to cover the costs of fixing the foundation before he attempted to sell it again.

The refinance took weeks before it cleared and the repair took even longer. The added time, loan fees, and actual costs of repair resulted in Joel losing thousands of dollars.

If you are in a similar situation, it’s important to be aware there are other options available to you. Perhaps you will find a buyer who is willing to purchase your property even with major problems.

However, selling your house through a real estate agent means you still have to pay realtor fees, which average 5-6% of the total sale price as well as closing costs and capital gains tax.

Short of having to follow through with a costly repair, the other option you have is selling your home for cash. Doing so means you can sell your house as-is and there are no real estate agent fees to pay.

But be careful who you choose to sell your house to as cash buyers often offer low-ball prices or are out to rip you off. Not all cash buyers engage in shady business tactics, however.

There are reputable home buyers who will offer a fair price for your home, even if there is a foundation problem.

Here’s how to sell your house for cash without getting scammed.

 

 

Here’s How to Sell Your House For Cash Without Having to Pay For Repairs

There are numerous benefits to selling your house for cash as opposed to selling through traditional means with a real estate agent. Some of those benefits include:

• Selling your property as-is without having to make any repairs
• No real estate fees, closing costs or other hidden expenses
• No expensive repair costs
• Skip marketing your property and hoping you receive offers
• No longer responsible for making mortgage payments
• Cash in hand quickly

Selling your home for cash is a worthy option to consider, especially if your house has a major repair that is needed. Often times, homeowners don’t have access to the capital needed to make those repairs.

Cash buyers are usually investors who can fund repairs and marketing to sell the property at a profit.

 

Rather than holding onto your home because you don’t want someone else to profit off it, consider the money and time you will save by not having to go through the process yourself – not to mention the stress you will avoid!

When it comes to searching for a cash buyer, make sure you research them thoroughly. Getting ripped off when selling your property is the last thing any homeowner wants.

 

Here are some things to watch out for when looking for a cash buyer:

• Unreasonably high offers – Keep in mind that investors buy homes for cash so they can make a profit. If the initial offer is close to what it would sell for on the real estate market, it could be a sign the buyer is setting you up for a bait-and-switch – meaning they may change their offer later on once they have you interested.
• Unusually low offers – Unreasonably low offers are a sign the buyer is out to rip you off from the very beginning. Make sure to shop around and find references from any previous homeowners the buyer has worked with.
• Unwillingness to meet in person or talk on the phone – Any reputable buyer should be willing to speak to you directly. After all, you are selling a valued possession and they should be willing to make you feel at ease. This includes speaking to you directly or meeting with you in person.
• Substantial application fee or other upfront costs – Many cash buyers offer free quotes. Although some may charge a small application fee, you shouldn’t be paying large sums of money just to see what a cash buyer can offer you. Beware of companies that are trying to make money off you without actually buying your home.
• Doesn’t close the deal quickly – Cash buyers who tell you what you want to hear but are unwilling to draw up paperwork or start the process could be the sign of a scammer. They may draw out the process, waiting for you to feel financially distressed, before changing the terms of the offer. They do this so you feel your options are limited and will accept their terms. Reputable buyers won’t waste your time this way.

If you live in the Austin, Texas area, Jerred is an excellent real estate consultant with a reputation for honesty and transparency when buying homes for cash. He can help you sell your house as-is with a flexible closing date.

If you can’t make it to our office for a face to face conversation then we’ll come to you.  We buy houses in the Austin, Texas metro and surrounding areas; Austin, Buda, Cedar Park, Kyle, and Manor.

Let’s face it. Bad credit – whether something terrible happened to you resulting in hospital bills or you just have a bad spending problem – can affect you any time you’re trying to open a new line of credit.

When it comes to the equity in your home, you’d think it would be easy to pull cash out of your property. After all, it’s YOUR equity, right?

Wrong.

Unfortunately, opening a home equity line of credit or refinance loan still depends on a lot of factors, including:

• Your income
• Current credit score
• Existing debt
• Earnings from previous years
• Property appraisal
• And more

Applying for any loan requires an in-depth application process, even if you are willing to put your house on the line as collateral. Banks need a lot of information before they are willing to lend to you.

Although you have very little control over a lot of these loan factors, the one thing you can improve is your credit score.

Let’s take a closer look at what you can do to improve your credit rating to help qualify for a loan or refinance.

 

 

Here’s What You Can Do to Improve Your Credit Score

If you are looking at ways to tap into the equity in your home, there’s probably a good reason you need the money.

Take this story about a woman named Sara for example. Sara’s mother transferred the title of her home to Sara just before she was moved into a nursing facility.

Eventually, Sara moved into the older house, which needed a lot of maintenance repairs. Over time, the repairs added up and she also needed to pay the nursing home bill.

Sara needed to access her home equity quickly if she was going to pay her bills on time. Unfortunately, her credit score suffered when she was previously unable to make a few of her student loan payments.

With bad credit and lack of stable income, Sara couldn’t find a bank that would lend on her home equity even though she was using the house as collateral.

In this situation, two things are working against Sara: bad credit, and not enough income.

Perhaps you find yourself in a similar situation.

No matter your circumstances – here are a few things you can do to improve your credit rating:

Check your credit report for mistakes – Checking your credit report is one of the easiest things you can do. If there are any mistakes or debts that aren’t yours, get those corrected and see if they improve your credit score.

Pay off existing debt – If you have a lot of accounts with small balances you can pay off, pay them off. The fewer revolving accounts you have with debt, the better your credit score will be.

Always make regular payments – If you have any account with a balance due, make sure you make at least the minimum payment. If you always make a certain payment amount and suddenly miss or start making smaller payments, that can also send a red flag to lenders. Keep your habits routine and predictable.

Don’t spend up to your limit – One of the most important factors lenders look at is how much of your credit limit you use in any given month. It’s advisable to keep spending at or below 30% of your credit limit for optimal credit rating.

As you can see, many of these credit factors require time and dedication to prove reliable behavior banks will view as safe to lend on.

But what if you need access to your home equity right away?

What Else Can I Do If I Have Bad Credit and Need to Access Equity in My Home?

When improving your credit score isn’t enough to qualify you for a home equity loan or refinance, you can try to change some of the other factors banks look at.

If possible, earn more. Lenders typically ask for 2 to 3 of your previous pay stubs and consider that as your income. They also ask for tax returns from previous years.

 

Although you have little control over how much you earned the year before, you can make sure you earned well in the weeks or months immediately before applying for a home equity loan.

However, earning more may not always be an option. Often times, people already strive to earn as much as they can. Taking on a second job is not always an option or a guarantee that you will qualify for a loan either.

Luckily, there is one option available you may not have considered yet that is quick, easy, and gets you the cash you need immediately.

You can consider selling your home for cash, allowing you to pay off whatever you need to.

You won’t own your home anymore, but you may discover the financial freedom you need.

Here’s how to sell your home for cash the right way.

 

Find a Texas Investor to Buy Your Home Without Getting Ripped Off

Selling your home for cash is a huge financial decision that has a lasting impact. It’s not something to choose lightly, but sometimes circumstances require you to make tough choices.

When you sell your home for cash, you can sell it as-is meaning you won’t have to worry about maintenance or repairs. You can also skip the real estate fees which are generally 5-6% of the total sale.

Depending on the market, selling your home through the traditional method with a real estate agent depends on a lot of invisible factors. You risk having to wait for months before a sale goes through.

When you sell your home for cash, it happens quickly (think: days, not weeks) so you don’t need to wait.

The most important part is finding the right investor who won’t take advantage of your situation by giving you a lowball offer.

Make sure you work with someone who offers fair prices and has a reputation as an honest, reputable home buyer.

If you live in the Austin area in Texas, try Jerred Buys Austin Houses. Jerred understands homeowners value their properties and works hard to offer the best prices and always engages in ethical practices.

When a home equity loan or refinance isn’t an option, choose the right investor to sell your home for cash.

If you can’t make it to our office for a face to face conversation then we’ll come to you.  We buy houses in the Austin, Texas metro and surrounding areas; Austin, Buda, Cedar Park, Kyle, and Manor.

There’s little in life that’s worse than having to decide between putting food on the table or paying your bills. It’s a tough decision, but when push comes to shove, mouths must be fed.

 

One of the biggest expenses American homeowners face is the mortgage payment. It can take over half of your monthly income and unforeseen circumstances can make paying this bill impossible.

 

Before you know it, the dreaded word -foreclosure- has snuck up on you. With months of mortgage payments, penalties, and fees stacking up, you can easily get overwhelmed and feel like everything is out of your control.

 

Regardless of how you ended up with your house in foreclosure, there are still things within your control. It’s worth it to explore your options before accepting a foreclosure, which has a lasting impact on your credit report and can haunt you financially.

 

Let’s take a closer look at how you can sell your house quickly, even when you’re in foreclosure.

Here’s What You Can Do if Your House is in Foreclosure

 

Consider this story about Amanda who experienced a foreclosure. Amanda bought her first house after college with a 20% down payment. She made her mortgage payments on time every month for years and lived very happily.

 

But one day, her mother received a diagnosis of terminal cancer. Having no one who could take care of her mother, Amanda was forced to scale back from her job to care for her. She drained her savings account and the bills began to stack up quickly.

 

Before she knew it, Amanda was facing foreclosure. Not only would she lose the down payment and all the equity she had put into her house, now she faced foreclosure on her credit report.

 

A red flag like that on her credit would follow her for years, making it difficult to apply for other credit, get a job, or buy another house.

 

With her ailing mother struggling to get through the day, Amanda had no idea what to do.

 

Many homeowners, through no fault of their own, find themselves in the same situation. Selling the house through a real estate agent is not always an option, especially in a buyer’s market where a house can remain listed for months at a time.

 

Before you know it, the house ends up in foreclosure. Many homeowners think there is nothing they can do once it reaches that point. But the truth is you can still avoid foreclosure if you can pay off the lender the total balance owed.

 

A close friend told Amanda about selling her house for cash. She owed less than her original loan amount and found an investment company to buy it as-is. The amount she was paid was just enough to cover the loaned amount, and it allowed her to avoid ruining her credit.

 

Like Amanda, you can still sell your house up until the foreclosure sale date takes place. You won’t own your home anymore – but your credit won’t take the hit.

 

A foreclosure on your credit report can affect you for AT LEAST 7 years. You want to avoid that any way possible. Selling your house for cash to an investor may be the best option for you.

 

Here’s what you can do to get the best cash offer for your home.

How to Get the Best Cash Price For Your Home

Remember, once your house is in foreclosure, the only way to avoid it is to pay off the lender. Getting enough money depends on the quality of offers that come through.

 

Here are some things to consider to get better offers:

 

Pricing – Be honest with yourself about needed repairs. What is the real value of your home versus the cost to make those repairs? Knowing the ballpark of the amount you will realistically be offered will help you decide if this is the right choice for you.

 

Be realistic about what you can expect from cash offers. This way, you won’t waste money marketing it or fixing it up if you can’t get enough to cover the balance you owe.

 

Marketing – In this digital age, make SURE your house is well marketed online to reach the most investors. Having a wider audience see your house will increase the number of offers you receive.

 

Condition – If you are already in foreclosure, chances are money is tight. But there are low-cost ways to increase the value of your home. Clean it thoroughly to give it the best possible impression for interested investors.

 

Fix minor issues that can easily be repaired. You don’t have to spend a fortune, but make it as problem-free as possible.

 

When it comes to finding cash offers for your house, you may run into scammers or people who give you insultingly low offers.

 

Here’s how to find a reputable investor to buy your house for the best price.

Finding a Texas Investor to Buy Your Home Without Getting Ripped Off

 

When you’re already going through a foreclosure, you need enough cash to pay the lender off completely.

 

Your options can be limited, but finding a reputable investor may save you from drastically ruining your credit. With the right offer, you can quickly get cash for your home and sell it in as-is condition without having to do any major repairs.

 

Without a doubt, the biggest problem you will face when looking for cash offers are lowballers. Don’t take the first offer that’s given to you. And avoid working with people who string you along, promising a sum of cash but not delivering.

 

Sheisty buyers may draw out the process in hopes you get more and more desperate. In the end, they may change their offers and leave you with no other choices.

 

If you’re looking for a reputable investor for your Texas home, call Jerred and see what he can offer you. He has a reputation for being an honest home buyer and leaves his clients satisfied.

 

His experience and familiarity with the real estate market make him a top choice when selling your house for cash.  Jerred Buys Houses services Bastrop, Manor, Kyle, and Cedar Park

 

Contact Jerred Buys Austin to get the help you need to sell your house fast.

Here’s How to Find a Reputable Austin, Texas Home Buyer and Not Get Scammed

Let’s face it. Selling your house is a huge decision. For most people, it may just be the most monumental financial decision you make in your lifetime.

But because life happens, you may not be in a position where you have the time, money, or resources to sell your house the traditional way.

That’s where selling your house for cash comes into play. Before you consider this option, make sure you know what’s involved in the process of finding a cash buyer.

Here, we give you the low-down on everything you need to know before you sell your house for cash so you don’t get yourself ripped off. After all, selling your house is a big deal and you don’t want to look back later to see you could have gotten tens of thousands of dollars more out of the transaction.

Let’s take a closer look at everything you should know before selling your house.

Here’s What You Need to Know Before Selling Your House For Cash in Austin, TX

Here’s a story about what happened to Janet when she sold her house for cash without doing her research first.

Janet was a recently divorced mother of 3 who needed to sell her investment property to buy out the home she shared with her ex-husband. Her investment property needed some major repairs if she wanted top dollar for it, but she didn’t have the money or the means to make those repairs.

Strapped for cash and with a full mortgage payment knocking at her door, Janet needed to liquidate her investment property to keep food on the table and a roof over her children’s heads.

She began looking for offers from people who would buy her house for cash. She contacted several buyers through their websites and received several offers.

One was low at $70k, two were around $90k, and one was high at $140k. She knew her house was worth $140k after all the repairs and figured the buyer knew something she didn’t.

After speaking to the buyer who gave her the highest offer, she thought he sounded trustworthy and understood her situation. She accepted the highest offer – thinking it would be best for her family.

Once the sale moved into escrow, the buyer ordered an inspection and an appraisal. The inspection showed all the repairs Janet had already disclosed. When the appraisal arrived, the buyer claimed her home was valued at $60k and he wouldn’t pay any more than that.

Weeks had already passed since Janet set out to sell her house. She needed the money right away and couldn’t wait any longer. She ended up selling her house for $60k to this buyer who turned around and sold the contract to another buyer. Janet later saw her house sell on the market for $150k.

A big mistake had been made.

Janet could have gotten way more for her property by doing some basic research and looking for signs that would have safeguarded her against this buyer’s scammy tactics.

Here are some key points to look for when selling your house for cash:

• Realistic offers – Amounts that are not too low or too high. Realistic offers indicate investors that intend to purchase your property, fix it, and sell it for a reasonable investment for the time and money – not to rip you off. Low offers rip you off from the beginning. Unreasonably high offers may be a sign someone is planning to rip you off later.
• Accreditations – Ask if they are certified with the BBB or other recognized real estate institutions.
• Past client testimonials – People who make this business part of their livelihood shouldn’t have any trouble providing you with references or testimonials from people they have dealt with in the past. If you can find genuine feedback from others, it’s a good indication you are working with someone legitimate and not out to scam you.
• Earnest Money Check – These are checks deposited into a broker’s account indicating the buyer’s “earnest” intent on purchasing the property. If no earnest money is offered, it may be an indication you are dealing with someone who doesn’t have money and plans to sell your contract to someone else for a profit – at your cost.
• Proof of funds – You can always request a financial statement with proof of funds from the buyer before signing a contract so you know they have the means to purchase your property.

There are many reasons to sell your house for cash rather than go the traditional route and sell through a real estate agent. Not all buyers are created equal, however.

Here are some common things to watch out for when selling your house for cash.

Make Sure You Avoid These Common Home-buying Scams

People often think anyone buying someone’s house for cash is a scammer who’s out to “steal” the equity of your house from you.

The truth is, it takes a lot of time and money to get a home into the right condition to sell – time and money you often don’t have.

Just think, it takes money up front to make repairs.

Additional repairs may be discovered along the way, requiring more cash to fix.

After all, repairs are made, it’s still no guarantee there will be a big return on the investment.

Investors take a calculated risk to buy a home that needs repair – not to mention the real estate fees and capital gains taxes they will encounter on the sale. It’s quite possible investors could walk away simply breaking even or making very little money.

On the other hand, selling your house for cash comes with some real perks:

• No stress of having to repair and/or sell your house yourself
• No real estate fees
• No repair costs
• Cash in hand as quickly as possible

There are many circumstances under which people would want to sell their homes quickly. When you make that decision, make sure you watch out for these common scams:

• Unrealistically high offers
• No offer to buy as-is, allowing them to set you up for a bait and switch offer
• Unwillingness to meet with you in person or speak to you over the phone
• No earnest money checks
• Application fees or other upfront costs
• They’re not listed with the BBB
• They have no legitimate customer reviews
• They stall making a deal in hopes you will get desperate and accept a lower offer later

Scammers will definitely pull all the tactics from up their sleeves to squeeze every last dollar out of you. But there are tell-tale signs. Follow your gut, pay attention to the signs, and make sure you work with people who have a solid reputation and make you feel at ease.

Here’s how to find honest investors to pay real cash for your house – fast and without scamming you.

How To Find Reputable Texas Investors Who Will Pay Cash For Your Austin Home

No matter your circumstances, there are many reasons and situations where selling your house for cash is the right choice for you.

Jerred Buys Austin Houses is an excellent real estate consultant in the Austin, TX area who works in conjunction with Midtown Title to buy your home at reasonable and competitive prices.

His business is BBB accredited and his client testimonials on Google and Facebook support his reputation for honesty, transparency, and knowledge.

Sell your house as-is with flexible closing dates with a buyer that promises transparency throughout the process.

If you can’t make it to our office for a face to face conversation then we’ll come to you.  We buy houses in the Austin, Texas metro and surrounding areas; Austin, Buda, Cedar Park, Kyle, and Manor.

If you can’t make it to our office for a face to face conversation then we’ll come to you.  We buy houses in the Austin, Texas metro and surrounding areas; Austin, Buda, Cedar Park, Kyle, and Manor.