Mortgage interest rates are the lowest it has ever been in history. If you have been waiting on the sideline to sell your unwanted house in Houston, right now is the time.
One of the main things you want to do to sell your unwanted house quickly is to have an appropriate selling price.
Spend some time and research on the recent comparable sales within close proximity to your property.
Make sure to analyze all aspects of the property: whether or not it has a pool or access to a body of water or canal, the year the property was built, the proximity to shopping plazas, grocery stores, or other points of interest in the neighborhood.
The more amenities you have around your property, the more attractive it will be for potential buyers.
Determine the appropriate asking price by using the most recent sales possible, preferably in the past 6 months.
If there are no recent comps, consider using other properties in the area, and subtracting or adding value based on features that your property does or does not have.
Be careful to get the asking price correct. Because if you offer the property for sale too far below the market, then buyers might believe there is something wrong with the property.
Sell to a Home Buyer
If you are in an urgent need to sell your house in Houston, selling to a professional home buyer might be the option for you.
They usually provide cash offers with an extremely quick closing time frame and may or may not require an inspection first.
The home buyer will usually have a large network of investors with multiple portfolio types and can easily add your property to it.
You can use this quick cash to have your down payment for your next property to take advantage of the low-interest rates.
Offer Owner Financing
There are many future buyers that are looking for a lending alternative who may not have the best financial history on paper but are honestly trying to improve their situation.
Offering owner financing might be a great option to appeal to more buyers, just make sure to do a background and reference check.
Owner financing would also be a great option if you are looking for long term monthly payments. This would be a great option if you already have the down payment for your new house.
Find a Property
It is important to do research on your next purchase before jumping into something to take advantage of the low-interest rates.
Check out the schools, entertainment, access to shopping, and groceries. Check that the taxes are paid, check the zoning, verify if the property is in a property owners association, this will cost you over time, and eat into your rental profits.
Make sure you conduct an inspection of the house you are interested in, most lenders will require this anyway. You want to make sure you pick a house with a good structure, a comfortable floor plan, and some curb appeal.
Find a Mortgage
The mortgage rates are at a low point right now, take advantage of this opportunity! Lower interest rates mean the lenders are more willing to originate loans.
Shop around different mortgage companies to find the best rate you can get with your financial situation.
Keep your credit score in mind, and contact multiple lenders to see what they can do for you. Choose the lender that has the lowest interest rate with the length of payment and type of loan that works for you and the property you plan on purchasing.
Having a pre-approved letter in hand will give you the advantage when making an offer on your new house.
Currently mortgage interests rates are at the lowest it has been in history. If your are looking to sell your home, you wont have a shortage of people interested due to low rates.
This article gives you tips on what to do when trying to sell your unwanted property in Houston.
DO YOU WANT TO SELL YOUR UNWANTED PROPERTY?