The "low equity, no equity" situation
is the most common problem we come across. In most cases, the homeowner
has tried to sell their house "for sale by owner" (FSBO)
with no luck. When they discover they are unable to sell their home,
their next step is usually to list it through a Realtor®. In
order to cover the Realtor's commissions and closing costs, they
usually have to dramatically increase the asking price. Since the
price was artificially increased, the likelihood of selling the
house is reduced even further.
Even if the house does sell, any equity that does exist is quickly
eaten away by the Realtor's commission, closing costs, taxes and
holding costs, leaving the seller responsible for bringing a large
check to the closing table.
You don't have to pay real estate commissions and you don't have
to give away your equity, no matter how small it is, to a Realtor®!
We purchase homes from people in situations like this all the time.
In most cases we are able to return some of that hard earned equity
to the homeowner, or at least reduce the amount of money they have
to pull out-of-pocket at closing.
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