Quick sale of real estate by owner when fast cash is needed
Website design By BotEap.comThe good old days were refreshing. You can put up a sign in your yard and get quick responses from interested potential buyers, or hire a listing agent and not worry about their commissions eating up your cash. The time has changed.
Website design By BotEap.comReal estate has become competitive. In some areas, it’s a seller’s market. In others, the buyer takes the reins. Whatever happens, there are thousands more people in real estate now than there were then. With investment seminars and investment shows becoming more common, the real estate group is growing larger every day.
Website design By BotEap.comBut what if you’re in a hurry to sell? Does that mean you’re motivated? Let’s take a look at what constitutes a motivated seller, and whether or not some of these sales techniques will work for your situation…
Website design By BotEap.comReasons:
- You are facing foreclosure
- You are behind on taxes
- you have bad tenants
- you are getting divorced
- you are retiring
- you inherited real estate
- You are an out of state homeowner
- You just want some extra money
- A single late payment can be a deal breaker. It can be done so that in this case the buyer defaults and loses the property back to the seller. This one possibility is the number 1 reason why this is a rare scenario. Most topic 2 investors are experienced. They have been doing it for years and have made millions through rentals with these types of deals. Website design By BotEap.com
- Limitation clauses, such as the one that requires the buyer to refinance the property in their own name within a set period of time, further reduce risk. Let’s say that in 2 years, the buyer must refinance. By then, they will have built up enough equity through their loan repayment to make this a possibility through traditional lending methods. Even in the worst case, they can get hard cash after that time to take advantage of the extra time to change ownership or get other financing.