I can’t believe this is happening to me. How many other Americans have been in my situation?

You may feel like you’re alone in your suffering, but according to a report released by CoreLogic, one of the most reputable providers of data and analytics in the United States, there were more than 4.1 million completed foreclosures between September 2008 and the end of 2012.  This number does not include homeowners who narrowly avoided foreclosure by either selling their homes or working out a loan modification with their lenders.

The news is not all bad, however.  In 2012, the rate of foreclosures in the United States fell for the second consecutive year.  There is debate among economists, however, as to whether this represents the avoidance of a second massive wave of foreclosures or rather a period of calm between storms.

http://www.elitehomeoffer.com/blog/2018/03/04/54/

 

Simplify the Process of Selling An Inherited House

Selling an inherited house to an investor is very common. When a seller considers the expenses and timing above, it really makes the most sense for many people to sell to a home buying company. Many inherited houses need repairs and updating, and that costs money. While you can avoid these updates and try to sell below the market price to get the house sold fast, you would still have to pay legal and real estate agent fees.

If you are considering selling your inherited house to an investor, check out Peggy’s story. As the executor of the estate, Peggy had a lot on her plate when her dad unexpectedly passed away. Her story represents a great example of the benefits of selling an inherited house to an investor.

As we mentioned, many of the homes we purchase are inherited. Not only are we experiences in facilitating seamless real estate transactions, but we are also Pinnacle Award Winners with the Better Business Bureau. When you sell your house to us, you are working with a company you can trust.

To get a no risk, free quote regarding how to sell an inherited house from your friends at Elite Home Offer, either call us at 916-239-2274 or fill out our Quick Offer form and we will have a quote to you within minutes.

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I just received Notice of the Intent to Foreclose from my lender. What will happen if I simply do not respond?

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Foreclosure laws vary from state to state, and it is imperative that you know and understand the applicable laws in your state.  In the state of California, for instance, your lender cannot begin the foreclosure process until at least 30 days after contacting you with the intention to foreclose.  It is incumbent upon your lender to work with you toward a solution that would allow you to avoid foreclosure.

Once the foreclosure clock begins ticking, the worst thing you can do is nothing at all.  Eventually, you will lose your home, and you will be stuck with a black mark on your credit report.  By doing nothing, you are guaranteed to make a bad situation worse.

It is also in your best interests not to simply abandon the property.  By remaining in your home while trying to find the best possible solution to your financial dilemma, you have far more rights and protections available to you than if you leave the property vacant.

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Pros of Selling to Real Estate Investors

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Cash Offers – Quite often investors are willing to pay cash for a home which is the easiest way to sell a home, without a doubt. However, it may come with a price. I like to compare this process to trading in a car to a dealership, as opposed to selling to a private party. You will, most likely, get less money by trading your car into a dealer, however, you don’t have to deal with any of the inconveniences of selling to a private party. The experience is similar in selling your home to a cash investor. For example, a cash investor will not ask the home seller to make any repairs (called purchasing “as-is”) and will likely pay all of the closing costs. Additionally, by selling directly to a cash investor, the home seller does not have to deal with real estate agents, multiple showings of the home, uncertainty about the closing (home buyer’s ability to get approved for a loan, appraisal and inspections fees), etc. Given this, the option to selling to a cash buyer has become much more appealing over the years and may be the best option for you. It is quick and it is easy.

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What is forbearance?

Homeowners who encounter sudden, unexpected financial hardships that are expected to be temporary may qualify for a forbearance, or short-term reduction or suspension of their mortgage payments.  If you have recently lost your job, for example, you may wish to explore the possibility of forbearance with your lender.  Be expected to provide proof of your ability to make your reduced payments (if payments aren’t suspended altogether).  Like bankruptcy, forbearance will buy you time, but it will not eliminate the threat of foreclosure.  Your forbearance will not be indefinite, although you may be able to work out a permanent restructure of your payment plan.

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Cash House Buyers Can Help You!

If you find yourself wanting to sell your home but need to do it quickly, a direct house buyer can help you immensely. There are many benefits to selling your home directly to instead of with a realtor.

The first benefit is the time saved. Many times when you sell to a cash house buyer, the process can take as little as a week. They are prepared to come visit your house quickly, and then close within a few days. This can save months of your time, and if you are moving quickly and need the money, this can be one of the only options to get the money you need quickly and without hassle.

Another benefit is that you do not need to do any repairs on your house before you sell it. Most cash house buyers will still buy your house even if it is damaged. This can help save you money and time since you don’t need to pay or wait for repairs to happen, which candrastically change how long it takes to sell your home and how much money it will cost.

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How much will a cash investor offer for my house?

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This question is pretty difficult to answer from a general standpoint, as there are numerous factors that go into determining the value of a home. However, I can provide you with a typical formula that cash investors use to determine a cash offer.

The first thing that any cash investor will do is establish an after repair value or ARV for your home. This is determined by referencing the value of recently sold homes (in your area) that have been updated or are in superior condition. Then, the investor will take the average price per square foot (PPSF) that the comparable homes sold for and multiply that PPSF by the square feet of your house. This will determine the approximate ARV for your house.

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Should I sell to a cash for houses investor?

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Selling a house to a cash investor is not for everybody or every situation, however, it can be a value added experience, given the right set of circumstances. For example, by selling to a cash investor, home sellers don’t have to make any repairs, be inconvenienced by multiple realtor showings or inspections, or wait the length of time a traditional sale takes in order to get cash. And, in many cases, one can stay in their home until they are ready to move to different location.

This approach to selling a house is easy and worry free. In fact, once you are in contract (with a reputable home buying company), there should little to no doubt about their ability and willingness to close. Additionally, most cash for houses companies will not only close fast, usually within 5-7 days, they will pay all of the closing costs and not ask you, the home seller, to make any repairs, clean anything or even lift a finger. This approach differs greatly from selling your home with an agent given the fact that, per most real estate contracts, all personal items must be removed from the home prior to the close of escrow – which can be a major inconvenience for the home seller.

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How do I find a reputable, trustworthy, Cash Investor?

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If you are like most of the population (and are reading this article) you probably use Google (or some other search engine) to find answers to most questions like this. And, it is a very important question to answer.

Having been in the real estate business for more than 20 years I have seen a lot, and if there is one thing that I have learned it is there are good companies and bad companies that offer “cash for houses” or “we buy houses” services.

The good companies have been in business for years and have built up a nice reputation (both online and otherwise) while a lot of the less trustworthy companies, quite frankly, have no reputation; they have no website, no presence with the Better Business Bureau, no licenses, no insurance, etc. Just because somebody is advertising “we buy houses fast” or “sell your home for cash” doesn’t necessarily mean that they have the ability to perform.

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Why Rent Out an Inherited Home?

We Buy Houses in Sacramento

When you discover you are inheriting a home, you have a few options. You can:

There a number of reasons people choose to disclaim, sell, or rent out a home. They may already have a house, the home may be underwater or require extensive (and often expensive) repairs, or the taxes and mortgage may simply be beyond the person’s budget. Finally, there may a dispute among siblings about the house and renting it could be way of appeasing all parties involved, and making a little extra income in the process. Of course, there are definitely pros and cons to this route. You should weigh them both carefully before deciding to rent the property out to prospective tenants.

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