Do you want to take advantage of the low-interest rates right now? Today is the perfect time to sell your unwanted house in .
Price Appropriately
One reason that you will be able to sell an unwanted property is if you offer it for sale at an appropriate price. Make sure to search for the recent comparable sales in the area. Spend time and analyze all aspects of the property. Check if it has a swimming pool or any access to a body of water or canal. You also have to know some important information like the year the property was built, the closeness of the property to shopping plazas, grocery stores, or other point interest in the neighborhood. Check and determine the correct asking price by using the newest sales possible, if you available, use the sales within 6 months. However, if there are no recent comparables in the offer, use other properties in the area and add or subtract value based on features that the property has or doesn’t have.
Always remember, if you offer the property too high, you may not get a lot of offer. However, if you price it too low, potential buyers may think there is something wrong with the property.
Sell to a Home Buyer
If you are in a rush to sell your house, then selling to an expert/professional home buying company is your best option. They can provide a cash offer and can close as quickly as you need to. They may or may not require an inspection of your house. These types of buyers have a large network of investors with a dozen portfolio types and they can definitely add your property to it. The quick cash can surely help you pay a down payment for your next property and take advantage of that low-interest rate.
Offer Owner Financing
There are a couple of buyers that are looking for another lending alternative. They may not have a perfect financial history on paper, but oftentimes these people are trying to improve their situations. Offering owner financing might still be a good idea so you can open up your home to more buyers, make sure to do an extensive background and reference check. Owner financing might also be a good option if what you are looking for is a long term monthly income. Its definitely going to be a great option if you already have a downpayment for your new home.
Find a Property
Like we are always saying, the most important thing to do is research, research and research! This is very important before jumping into something and thinking taking advantage of the low interest-rates. Check out the properties access to schools, shopping, groceries and entertainment. Make sure that the taxes are all paid off, because if its not, it will definitely gonna be a problem in the future because it will eat into your rental profits. Also check the zoning and verify if the house is in a property owners association. Conduct an inspection of the house that you are interested in, this is going to be helpful since lenders will require for you to do so. Pick a house that has good structure, a comfortable floor plan and a spectacular curb appeal.
Find a Mortgage
Take advantage of the mortgage rates since its at a low point right now. Lower interest rates only mean that the lenders are more willing to start loans. Shop around and look for a financial institution that can give you the lowest interest rate considering your situation. Always keep your credit score and creditworthiness in mind. Contact multiple lenders and ask them what they can do for you. Choose a lender that has the lowest rates and the consider the length of payment and type of loans that they can p[rovide. If you have a pre-approved letter, it will give you an advantage when making an offer for your new house.