Quickly Find Potential Buyers For Your House For Sale
It may surprise you to hear that the biggest challenge when you need to sell a home fast may not be what you think it is, meaning finding the buyer. Keep reading and I’ll describe the perfect buyer for you, the buyer who is positioned to help you get your home sale closed as fast as possible.
What you really need is a buyer who wants your home now, and who also has the money and/or credit to buy it. Your buyer needs quick access to his own cash in the bank or he needs to have established a line of credit to obtain cash on short notice. Assuming you have a mortgage on your home, when the home is sold you will be receiving only that portion of the proceeds representing your equity, which is the difference between the sale price and your remaining mortgage pay-off balance.
The amount you owe your lender will be paid directly, meaning a check will be prepared at the time of closing and sent to the lender immediately. Another thing to remember is any other outstanding creditors who may have put liens on your home, because those lien holders will also be paid out of the proceeds at closing. If you’re wondering what I mean by “lien holders,” here are a couple examples: a) unpaid property taxes, and b) unpaid contractors who worked on the home. Legally, lien holders get paid before you receive your equity at closing.
So, the two phone calls you need to make (or someone you trust needs to make on your behalf) before closing a sale transaction on your home are these: a) your mortgage lender to get your pay-off balance as of the exact date of closing, and b) your county recorder to so a lien search on your property. To tell you the truth, it’s easy to have liens you don’t know about. One time the county came and mowed some tall grass on one of my vacant lots that my landscaper forgot to mow. Where I live, the county can put a lien on property for costs of mowing, and the county won’t release their lien until the mowing bill is paid. Other types of liens work the same way. Make sure any and all creditors release their liens or you may have a problem at closing.
Back to the subject of your perfect buyer – you need someone with cash or a line of credit, and it’s always best if he or she is equipped to help you do the research on your mortgage balance, and tax and lien research as well. If you decide to call an investor to buy your home, most likely that person will conduct that research for you. Taking the whole picture into consideration, when you need to sell a house fast there are good reasons to call a real estate investor. Getting an offer from a qualified buyer who is ready, willing and able to close a sale on your house now is the best way to accomplish your goal.