A lot of people are expecting to sell a house this summer. Many of these people will be surprised when they aren’t able to find a buyer. Even more of those people will be surprised when they find a buyer, but the buyer is unable to get financing. These are crazy times that we live in and right now selling your house is like selling lemonade during a hurricane. No one knows what will happen so they are just waiting until the storm dies down. If you have tried to get a loan for a new home purchase then you know what I am talking about. It seems lenders are changing there requirements every other day.
In fact, if you get approved for a loan don’t be surprised if they change the terms or requirements before you close. With this uncertainty in the market many people are left with wondering what other options they may have. As I have said before, your best option is that if you don’t have to sell then wait. Only people who really need to sell should be in the market right now because the banks need to clear out their foreclosure inventories. But there are other things that you can do while waiting for the market to improve.
The first and easiest is to do some home improvement. Since the real estate market is down many contractors are looking for work. That means that you can get a better deal on that kitchen remodel than what it may have cost a couple of years ago. This may also help so that when you do sell, you will get a better price. Another step you can take while waiting to sell is to make your home more affordable. For example…
Challenge your taxes.
I have talked about this before, if you challenge your property taxes then the county will either keep them the same or lower them. They can never go up. This is a win or break-even situation. Check with your county tax assessor to see how you can challenge them. This can save you some money and again, make your home more attractive to buyers when the time is right. Now for all of those that must sell, consider alternative selling methods. I know that in a down economy nothing sells a house faster than a seller willing to offer creative financing. If you must sell, then this is the #1 way to get your house sold quickly in this market.
Until next week, good luck and God bless.
Arthur Veal is owner of We buy Houses Home Services. We Buy Houses Home Services is a real estate investment company that specializes in renting to own and selling on terms. They have helped hundreds of families sell their house on terms. Visit our site to learn more at http://www.sellonterms.com.