First off, I wish you all health and wellness as the COVID crisis lingers on. Since Quarantine began our team here at Sell House Columbus has successfully purchased 12 homes from property owners like you. Some folks we have purchased from are local here in the Columbus Ohio area and some were actually out of state owners. Regardless if you live in the house you’re looking to sell or not, we would be happy to give you a no obligation offer on your Central Ohio property. We are privately funded so we are NOT reliant on the banks (which you’re about to read, are becoming more difficult than ever). We buy houses in Columbus Ohio for all cash and we can close quickly. We buy Columbus Ohio houses in their As-Is condition so it you don’t have to do anything to the house before we can make you an offer can close. Call us anytime at 614-300-5151 so we can discuss your options and make the sale of your Columbus Ohio property extremely easy.
Now, with that out of the way… Have you been following the financial news since COVID started? If so, you already know that things are looking more bleak by the day. If you haven’t been following, that’s probably a good thing. Things aren’t looking good for the economy and a lot of experts are predicting the housing market is going to follow. Think about it… How could it not?
As it stands right now, 30 million Americans have filled for unemployment and they are predicting even more. We STILL don’t have a vaccine for COVID!!! The potential for a “V shaped recovery” looks grim. Let’s be honest, things will get worse before they get better. What is the alternative? Is the FED supposed to just keep printing money and everything is going to be ok? I don’t think so.
So where does this leave you? If you own a house in or around the Columbus Ohio area that you’re looking to sell but were waiting to see how the COVID crisis turns out… You might not want to wait any longer. Check out this CNBC article:
Regardless if you believe CNBC or not, it doesn’t matter. I encourage you to do your own research with news sources that you trust. You will see the same thing everywhere… It is getting harder for Americans to get loans. That means less buyers!
Don’t worry though, you still have time. Here at Sell House Columbus we don’t rely on the banks. We can pay all cash for your Central Ohio property and we can buy it in it’s As-Is Condition. Our goal with every seller we speak to is simple: Help them net the same amount they would if they sold with a Realtor. If we can do that, we’ve found it’s pretty easy to create a fair deal for everyone. We can close quickly if we need to or we can be flexible. Just let us know your situation and we can discuss options. Contact us today for a no obligation offer on your Columbus Oho Central Ohio Real Estate. We’re in your corner! 614-300-5151
Check out one of our most recent testimonials here:
We understand that there is a lot of uncertainty in todays times. We are here to let everyone know that we are open for business despite the COVID-19 pandemic.
We can still buy your Columbus Ohio house for all cash and we don’t need to meet with you (face to face) if you prefer not to.
We have purchased Columbus Ohio area properties for 10+ years and we will continue to buy long after we beat the COVID-19.
Right now there is a lot of uncertainty with everything that is happening with the COVID19 situation. I know it can feel very scary. Especially if you have a house that maybe you have to or want to sell fast. You might not want people walking through your house or you might want to be discreet. We’re here for you! Call Today for a no obligation offer on your Columbus area house or property. 614-300-5151
We Buy Houses in Columbus Ohio and surrounding areas. We can buy your house, close quickly, and give you a fair offer. We will make it easy so you dont have to meet a bunch of people. We can even buy your house over the phone! Call today!
“I want to sell my real estate note in Columbus Ohio…Where do I start?”
Holding a real estate note, private mortgage note, private promissory note or other paper real estate asset in Ohio can sometimes be a challenging proposition: They don’t always offer the highest returns, you collect your cash over a period of time, and can come with the hassle of chasing payments.
And if you are trying to collect from a bad borrower or are facing the threat of foreclosure, you could actually collect less than you deserve.
Are you missing out on better opportunities because you’re holding real estate notes?
Although some people may choose the “wait and see.. and hope” method of holding real estate notes, you may prefer to get rid of your real estate note now so that you can reclaim the capital and use it for a different investment or use the money for something that came up that you need liquid cash for.
Getting rid of your Ohio real estate note is sometimes your best option because it lets you do more with your money.
For example, you can sell all or part of your private mortgage note or other asset and use the cash to reduce or eliminate your debt so that you no longer have to pay the debt service on it.
Or you can reinvest the cash in another type of investment that has a higher yield. This is a particularly good idea if other potential investment options are doing well, such as the stock market, local Columbus or Ohio real estate, or municipal bonds.
You can even sell off all or part of your real estate note in order to diversify your portfolio. It’s never a good idea to have all of your eggs in one basket.
Here’s the problem, and the solution, to your Ohio real estate notes
The risks including not collecting the money owed to you. Perhaps the bigger risk is the opportunity cost of missing out on investing your money in a better investment.
Holding on to your real estate note or a similar asset is not risk free. Property values are notoriously unstable, especially in today’s economy. So the asset you think has a high value today could actually be worth far less in the not so distant future.
And then there’s the hassle of owning a real estate note. Not only are there the book keeping problems to worry about month after month, but collecting on the real estate note is not always a straightforward process. And if the property goes into foreclosure, you risk losing some or all of your investment.
Your best bet is to find a Ohio real estate note buyer (we’re based in Columbus!) who will pay you a fair price without jerking you around. If you’d like an offer today, give us a call at (614) 300-5151.
Fortunately, there’s a better solution than holding onto an unwanted note: Convert those notes to cash.
Cash is the most liquid asset. It allows you to use it anyway you like without any obligations or risks.
When you sell all or part of your real estate note for cash, you can use it to make newer, better investments that allow you to grow your portfolio faster. You have more options in terms of reducing debt.
Or you can simply use cash any way you like.
I want to sell my real estate note in Columbus now!
If you are interested in learning more your options for selling all or part of your real estate note in Columbus, call us at (614) 300-5151 or click here to visit our website so you can learn more about your options.
We can make you an all-cash fair offer on your note payments today, so head over and fill out the form on our site to get a fast-free quote, or give us a call today at (614) 300-5151!
Here at Sell House Columbus we look forward to connecting with you!
There has never been a better time to sell a Ohio mortgage note or promissory note, so if you’re wondering “Can I sell a private mortgage in Columbus Ohio?” the answer is: you absolutely can!
Interest rates are very attractive right now but that could change at any moment, and interest rates could start climbing any day now. (We at Sell House Columbus are always paying attention to interest rates and their impact on mortgage values).
The market value of a mortgage note is inversely related to the value of the general interest rate. In other words, if interest rates go down, the market value of a mortgage note goes up. But when interest rates goes up, the value of your mortgage note goes down – which is the situation we are currently facing right now.
Can I sell a private mortgage in Columbus?
Obviously you want to get the most you can for your mortgage note, promissory note, real estate note, or other similar real estate paper investment.
When it comes to maximizing your profit, timing is everything: Wait only a few days too long and the value of your Ohio real estate note could plummet because interest rates increased before you took action!
If you believe that interest rates are going to go up in the near future (and the Magic 8 Ball says, “All signs point to ‘Yes!’“) then you should consider selling all or part of your private mortgage or real estate note for cash.
Here’s the next step:
Determine the cash value of your private mortgage
The benefit of selling your private mortgage payments for cash is obvious.
Cash can be used to pay off debt, invest in other investments with a higher potential yield, or simply spend it on things you need, such as a home, cars, tuition payments, and so on.
Practically every mortgage note can be sold for cash – even those notes where the payments are not being made on a timely basis.
This makes selling your mortgage note for cash an especially attractive option if you are having collection problems or if you potentially are facing foreclosure on the property.
So, how can I sell a private mortgage in Columbus?
It’s never been easier. If you want to sell all or part of your private mortgage before interest rates go back up, now is an excellent time to do it.
If you are interested in learning more your options for selling all or part of your real estate note in Columbus, call us at (614) 300-5151 or click here to learn more about your options and to get a fast-fair Quote on your Columbus Ohio mortgage note payments.
The interview with Superintendent Anne Petit was a huge success. She shared with me and about 300 other people how throughout her successful career serving the Ohio Real Estate community, has seen numerous times where an unlicensed, “fake” buyer will sometimes put a Realtor’s listing in contract, have no intentions of closing… and then try and re-sell the property while in contract…
This is a real problem and guess what… THIS JUST HAPPENED TO ME!!!
Recently I received a random call from someone claiming they had a property for sale. They knew I buy properties for all cash and close quickly so once they got me on the phone, they began telling me all the great things about their house… They acted like they were someone who had the property in contract with the seller and they wanted to sell me the contract. There is no crime/no foul in selling a contract but here’s the thing… This property was listed, and they falsely represented themselves to the listing agent as a buyer. The listing agent changed the status on the MLS to ‘Pending’.
After their sales pitch, they said the house can be all mine for only $58,000… That’s a really good price for the area… Something felt funny about the caller so I kept digging… guess what I found?
“The listing agent changed the status on the MLS to ‘Pending”
I noticed the property on the MLS and realized immediately that the person who was trying to sell me the house was NOT the listing agent.. I looked on the public records and I saw they were not the owner either.
The listing agent happened to be someone that I have purchased properties from in the past so I got them on the phone.
It turns out the wannabe wholesaler was trying to sell this contract to me for $8,000 MORE than they were in agreement to pay! UNREAL!
The Realtor and I waited a few days for the Fake Buyer’s contract to expire, I jumped in with a full price offer and guess what? We’re closing today! I couldn’t be more grateful! The listing agent is happy as well..
They earned the full 6% because they represented me along with the seller and best of all… The Client got everything they were expecting and didn’t miss a beat!
Remember to avoid the “Fake Buyers” out there. I’m a REAL Buyer and I’d love the opportunity to buy one of your listings or properties. You can keep the full commission on anything you bring me and I promise not to waste your or your clients time.
Feel Free to Text or Email me if you have a property you would like to discuss or you’d like to set up a time to chat. I’d love to work together!
If you’re in Ohio (especially Columbus), when it comes to unsecured promissory notes, there are two things to keep in mind: Its current value and its future value.
If you are considering selling an unsecured promissory note in Columbus, the first thing you need to do is determine its current value or market value (that is: the value it will can be sold for “in the market”).
This is a pretty simple process really. All you need to do is contact a few professional companies that deal regularly with such investments as unsecured promissory notes, private mortgages, and real estate notes like Sell House Columbus.
Speak with a few investment counselors about what the current and potential future value of your unsecured promissory note is and what factors could affect its value – such as whether the interest rate is likely to go up, go down, or stay the same.
Calculating the value of your note
When you contact a local Ohio investment professional, there are a number of things that will be considered about your unsecured promissory note.
One of the first things they’ll consider is the type of debt it is.
For example, unsecured debt can include things such as credit cards, student loans, medical bills, rent expenses, and any other type of debt that isn’t backed by assets like real estate or other property.
Without some type of asset “securing” the note, there can be more risk for the note holder… and more risk tends to decrease the overall value of the note to someone looking at purchasing your note payments.
While unsecured promissory notes may have a lower market value than secured notes (such as real estate notes and private mortgages), don’t worry… Columbus Ohio unsecured promissory notes still have value even if they aren’t backed by assets.
For example, they can be sold to a collection agency or to other investors for cash.
Selling an unsecured promissory note in Columbus
Before you sell your unsecured promissory note to just anyone, it’s a good idea to check with a number of different potential Ohio note buyers. Not all collection agencies and investors will give you the same deal. Some will pay you a higher percentage for your unsecured promissory note in Columbus than others.
You may even be able to bundle several unsecured promissory notes together to get the best possible deal. See if the company you are dealing with will pay you a higher rate for a larger bundle of unsecured debt.
It’s worthwhile to pay close attention to the terms given to you by the buyer of your unsecured promissory note. Before you sign on the dotted line, make sure you understand all of your obligations and exactly what you get in return for selling your unsecured promissory note. Here at Sell House Columbus we have a policy for full transparency and are glad to walk you through every aspect of the process, or method of deciding the current value of the note, and to answer any questions you have.
If you’d like to get a free offer on your note, contact Sell House Columbus today at (614) 300-5151.
Selling an unsecured promissory note in Columbus has never been easier!
With changes to the economy that we’ve seen in recent years, many homeowners are discovering that there are new ways to sell their home that weren’t available before. You no longer have to sell through an agent – you can sell on your own or you can even accept seller financing. If you’re wondering how to sell a house by owner financing in Ohio , keep reading this blog post and we’ll walk you step-by-step through the process…
Step 1. Determine whether you own the house outright or still have a mortgage
In some states, if you have a mortgage you may not be able to offer owner financing (but you can in other states). So the first step is to determine whether you have a mortgage or not.
Step 2. Talk to a real estate attorney for help in crafting an agreement
With seller financing, you are essentially acting like a bank. The buyer will pay you a down payment and then pay you regular monthly payments until the house is paid off, and then it becomes their house. So make sure you talk to a real estate attorney to ensure that you are protected and obeying all federal, local, and state laws while also protecting yourself! (If you need the name of a good real estate attorney, get in touch with us and we can make an introduction.)
Step 3. Market your house online and offline
Once your paperwork is in place, you are ready to advertise that you have a house for sale. Be sure to let people know that you offer seller financing. There is no limit to how much marketing you should do – the more you can do, the better.
Step 4. Work with potential buyers
As your marketing captures the attention of potential buyers, work with them to show them through your house. When someone makes an offer on your house, negotiate the price and terms with them and find the middle ground that will ensure a win/win situation. Sign the papers when you and the buyer reach an agreement.
Step 5. Collect the down payment and hand over the keys
Once you agree on a price and have signed the papers, collect the down payment and hand over the keys. In most situations, you will continue to own the house and collect payments until the house is paid off, then ownership transfers to the buyer.
If you’re thinking about selling your house and you’re wondering what your options are, perhaps you’re exploring something called “seller financing” (also called “owner financing”). Owner financing is a little-known but very effective way to sell your house. And maybe you’re wondering, is owner financing a good idea for the seller in Columbus? That’s a great question and we’ll talk about it in this blog post…
Here’s How Owner Financing Works
In a normal home-selling transaction, the buyer (who doesn’t have ALL of the money for a house) goes to a lender (such as a bank) and they pay a down payment and then make regular monthly mortgage payments until the borrowed amount is paid in full.
This is the way most people are familiar with buying and selling. But there’s another way to sell your house that you might not be aware of, and it involves owner financing.
With owner financing, everything is similar except this one thing – the seller of the house acts like the bank: the buyer pays a down payment to the seller and then makes regular payments (just like mortgage payments) to the seller until the house is paid in full. Then the ownership of the house transfers to the buyer.
Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Columbus
Many sellers do find owner financing to be a great idea.
They like that they have a larger group of potential buyers to sell to (including those who might not qualify for traditional bank financing)
They like that they get monthly cash flow from financing payments
They like that they still own the house and are protected, should the seller stop paying
They like that there is no property management
What’s not to love? You get ongoing cash flow and protection, and you’re still able to sell your house. That’s a perfect recipe. Whether this is your primary residence that you’re looking to sell, or you’re a landlord who is ready to start selling some of your rental property, owner financing might be a great option for you.
If you’d prefer to spread out payments or to have more buyers trying to buy your house, owner financing might be a great option for you. If you’re serious about selling your house and want to explore all of your options, take a closer look at owner financing.
Do you own a house and are thinking about selling? Selling the traditional way (through an agent) will give you access to some buyers. However, if you’re asking, “how do I sell my house owner financing in Columbus Ohio” then you’re making a smart move that will give you access to many more buyers! Keep reading to find out how…
Introduction to “Sell My House Owner Financing In Columbus Ohio“
When a homeowner sells their home the traditional way (through an agent), the buyers are typically regular buyers who are trying to get a mortgage to buy a house that they will live in. In some markets, there are a lot of these kind of buyers but in other markets there aren’t as many. And real estate agents typically work with these kind of “pre-qualified” buyers who can get a mortgage through a bank.
However, this method of selling is not without its problems. For example, sometimes you have to wait to see if a buyer can even get financing (and sometimes the financing falls through so you’re forced to keep showing your house to find another buyer).
If you want to increase the likelihood that you’ll sell your house, and expand the range of possible buyers who can buy, here’s a little-known strategy you might not be aware of: sell your house with owner financing.
Owner financing is when a buyer skips the bank and buys directly from you. In essence, you’re the bank! Just like a bank, you get an up-front deposit and then you get regular payments that pay off the amount owing. In most cases, you hold the title until the house is fully paid off, and then the title transfers to the buyer.
Benefits of selling with owner financing
It opens up the number of buyers because now you’ll be able to find buyers who might not normally be able to get bank financing.
It gives you cash flow, since they buyer will need to pay regular payments to you (just as they would need to pay regular mortgage payments to the bank).
It protects you because even if the buyer stops paying, you still own the house!
And unlike owning a rental, there isn’t a lot of property management since that will be the responsibility of the buyer.
What’s next…
Wondering, “how do I sell my house owner financing in Columbus Ohio”? Start by deciding how much you’d like to get each month for your house.
There are many different ways to sell your house and in this blog post we shared with you how to sell with owner financing. Selling with owner financing isn’t for everyone but if you want more exposure to buyers, plus some cash flow, plus plenty of protection, then selling with owner financing might be right for you.
Do you have a house to sell? Perhaps you’re thinking about selling, and maybe you’re thinking about seller financing. But if you have a mortgage on your house, you might be wondering, “can i do owner financing in Ohio if i have a mortgage on the property?” We get this question a lot so we decided to answer that question here… Keep reading in this blog post and we’ll answer that question and give you some strategies to move forward…
You have options
Homeowners who are thinking about selling have several options. They can list their home through an agent, or they can list it themselves, or they can sell directly to a buyer. And, many homeowners are discovering a simple strategy called “owner financing” or “seller financing” that allows them to sell their home to a buyer and collect regular payments that pay off the house:
The buyer pays a down payment
The buyer pays regular monthly payments
When the agreed-upon price is paid, the title reverts to the buyer
Homeowners love it because it’s a great way to sell and a great way to find even more buyers – including those who might not be able to get traditional bank financing. Home buyers love it because it means more choices for them and they don’t have to necessarily impact their credit score to get a house.
In some states, you can create something called a “wraparound mortgage” in which you extend a mortgage to a buyer (usually at a higher rate of interest) while still paying your own mortgage to the bank. However, this is not legal in all states and all situations, and there are additional clauses that you should be aware of.
Can I Do Owner Financing if I Have a Mortgage on the Property? – You have choices
If you’re unable to sell with seller financing because of a mortgage, you have other options…
An alternative that might work for you is called rent-to-own, which has some similarities (such as ongoing payment and you own the house) and some differences (there might not be a down-payment and the buyer needs to qualify for a mortgage from a bank at the end of the pre-established rental term).
If you are thinking about accepting owner financing but you still have a mortgage on your property, here’s another option for you: Get in touch with us and talk to us about your property. As experts in buying and selling real estate, we are aware of a number of options that you might not know about. We can walk you through those options and help you out ourselves or we can connect you with someone who can help you.
If you own land in Columbus Ohio, and you’re wondering “how to sell my land myself in Columbus Ohio“, you have a couple of choices. In this blog post you’ll read about what your choices are, and how to know which choice is best for you.
Here’s The Most Common Way To Sell…
The most common choice that land sellers have is to sell through a real estate agent. Agents will list your property and find buyers for it, and then negotiate on your behalf and help you with the paperwork.
Problem is, many property owners discover that there aren’t a lot of land buyers, and few real estate agents are truly “experts” in buying and selling land. As well, if an agent is able to find a buyer, you will have to pay commissions to the agent, which can get quite expensive.
Another choice is for sellers to sell land themselves. You do the same work as the agent and are able to save the commission that you’d have to pay the agent, ultimately pocketing a little more cash than if you sold the traditional way.
But many of the same problems exist here, too: Land sellers who choose to sell their land themselves soon find that there really aren’t a lot of vacant land buyers out there. The average person just doesn’t buy vacant land.
Here’s the third option – and the option that most people aren’t even aware of. Instead of listing your property (either through an agent or on your own) you can simply sell your property directly to a land-buying company (like what we do here at Sell House Columbus). Selling this way allows you to quickly dispose of your land, put money in your pocket, and still avoid paying commissions that you’d normally have to pay to an agent.
Sellers view this third option as a superior strategy because of the following reasons:
It’s faster – a land buying company that buys land directly from a seller can know right away if the land is right for them, and a good land company can usually get the funding right away. There’s no listing and there’s no showing the land to many prospective buyers.
It costs less – an agent will charge commissions but most land buying companies won’t charge anything.
It’s far less work – listing your property can be a lot of work, even if an agent does it. But selling your vacant land directly to a land-buying company can give you a rapid close so you can walk away from the land when you want to.
Looking how to sell my land myself in Columbus Ohio? Look no further than a land buying company. Although few sellers are even aware that this option exists, they’re pleasantly surprised at how quick and easy it is to sell their land when they learn about it.
Owning land is pretty easy – it rarely takes a lot of effort. But when you want to sell, that can be a different story. Do you own landing and are wondering, “How do I sell my Ohio land to a developer”? At Sell House Columbus, we’re often asked that question so we wrote this blog post to answer it for you…
First, it’s important to know what developers are looking for
A developer wants to be able to build on the property and sell it, so they’re probably looking for property that is close to infrastructure and services (like water, sewer, power, and roads). After all, they’ll need to connect these services to their development and they’ll want people to get to their development!
It’s okay if the land isn’t serviced but developers will probably want to know how far away the services are and whether those services are being actively worked on by the city.
Second, you may want to bypass the real estate agent
Third, be aware of zoning when wondering “How Do I Sell My Land To A Developer?”
Developers will be looking to build, which may include potentially subdividing and doing additional work on the land. They’ll want to know how your property is zoned so they can anticipate the work required to build. Of course zoning can often be changed but zoning changes will just add to their timeline and workflow so it’s helpful for developers to know up-front how the land is zoned. I have friends out in Charleston South Carolina who are property investors like us. Their company is B&M Homes.
B&M Homes are run by a husband and wife team that buys properties fast for cash in Charleston South Carolina and August Georgia. They tell me down south, land developers are much more aggressive than here in Central Ohio.
Fourth, be aware of the path of new construction
This one is harder for land owners to know but if you’re wondering, “How do I sell my Ohio land to a developer?” this will be an important consideration that the developer is thinking about: If your land is not inside a city then a developer will probably want to know if the city is growing in the direction of your land. (Even if the city is not growing toward your land, that’s okay but developers will want to know). You don’t have to know this answer yourself but if you do, that will be helpful to developers.
Selling raw land can be challenging because it’s a very different kind of buyer. But if you’re wondering, how do i sell my land to a developer, then these 4 tips will help you.
If you own vacant land and you’re looking to sell it, you probably got to this page because you’re checking out your selling options and you want to know if there is a way to sell land online for free in Ohio. The answer is YES so keep reading to find out what it is!
Here’s How Most People Sell Land
When most people think of selling real estate – whether it’s a house or vacant land or any other type of real estate – they tend to think of selling through an agent.
This is technically a “listing process” where you, as the seller, contract a real estate agent to list your property on the open market. The agent will list your property on a site like the MLS, and they’ll advertise your site to attract buyers. Then they’ll show your site to prospective buyers and negotiate on your behalf with buyers who are interested in buying. They’ll take care of the paperwork for you. In theory, this process is supposed to get you the highest possible price (“market price”) for your real estate… although in truth this is not always the case.
The problem is, once the land deal goes through, you have to pay the real estate agent a commission for all their work… and that commission is often thousands of dollars… or more. That’s a lot of money that could have been in YOUR pocket.
Instead of working with an agent who is busy trying to juggle multiple house sales for many different clients (and might have a hard time finding buyers of raw land), you can take matters into your own hands and actually sell land online for free in Ohio!
One option is an entirely do-it-yourself option where you take some pictures of your land and post them online and try to find a buyer yourself. You can go to sites like Facebook and Twitter, or even start your own free website, to try and get a land buyer.
However, the fastest, simplest, and most straightforward approach is to work directly with a company that specializes in buying raw land from sellers, like what we do at Sell House Columbus. These kind of companies are buyers, not agents, so you end up skipping the time-consuming and costly approach of working with an agent and instead you just connect with a buyer who is ready to buy your land right away. And this is still a “sell land online for free in Ohio” approach because you can probably do most of your due diligence online before you reach out and contact them.
Do you have vacant land that you want to sell? Then you’re probably searching right now for land buyers in Ohio who can buy your raw land. While there are many people who want to buy real estate with a house already on site, you might be having a harder time finding someone to buy your empty land. The good news is: there are buyers you there. Keep reading this blog post for top tips for finding land buyers in Ohio for your vacant land.
Tip #1. Know what your land is good for
There are many different kinds of land buyers in Ohio. For example:
You might encounter land buyers who want the land because they intend to build a house for themselves.
You might find land buyers who are looking for recreational land where they can enjoy hunting and fishing on the weekends.
You might meet land buyers who want to buy the property and hold it until a future point when it can be developed.
You might talk to land buyers who want to buy the property so they can develop it and subdivide it right away and sell off smaller parcels to builders.
Figure out what your land is good for, including what it is zoned for by the city or state (if applicable), and use that to help you find the right land buyers in Ohio for your property.
Tip #2. Skip the agent; sell directly to land buyers in Ohio
A real estate agent may try to list your land for you but the reality is, land doesn’t sell the same way that a developed lot sells, and most agents focus on land that already has a house on it. Sometimes, land owners find that their land sits for a long time because the agent doesn’t sell it. If an agent hasn’t been able to sell your land, or if you’d prefer not to wait for an agent to try and sell your land, you can sell your land directly to land buyers in Ohio (like us at Sell House Columbus).
Tip #3. Take good pictures of your land
Land buyers in Ohio may not always be able to travel to your land to view it in person but they will want to see what it looks like and what opportunities exist. So take many great pictures of the land, including pictures facing in each direction as well as pictures of the neighboring land. If there is development nearby, such as a growing urban area or even just a new road being built, take pictures of that so the buyer knows.
Tip #4. Consider accepting seller financing
Some land owners want all the money up-front because of a financial need. However, this is not always the case. If you want some money up-front but think you’ll benefit from some cash flow then consider financing the land buyers in Ohio who buy from you.
Buying and selling of real estate is big business in any economy in the world. As a population increases, more houses are needed for people to live in and offices for people to work in. Despite this fact of life, real estate transactions can still be very risky propositions! Especially when it comes to probate property, if the prospective buyer doesn’t understand the probate process for a house in Columbus, Ohio.
So what is a probate anyway?
A probate is a legal way of administering the property of a deceased person (decedent) if the person never left a will or if the will had specific instructions on how his or her property was to be administered after they are dead. These proceedings take place in probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Columbus…
How to begin the probate process for a house in Columbus
The probate process begins after a person dies. Soon after this, the seller is expected to inform the court, which appoints an attorney to take care of the sale. Once this is done, the attorney advertises the property just like other real estate properties. The price is based on the agent’s suggestion and also from an independent appraisal ordered by the probate court. Note: It is important for the seller to familiarize himself or herself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Columbus and that would be us, Sell House Columbus. Click the link here, fill out the form and we’ll help you get started now.
Okay, my property is on the market, now what?
Now, after the property is advertised on the market then it is up to the seller to wait for the buyers to make offers on the property. Once this process is completed, the final decision is made by the probate court on who should buy the property based on an auction if there was more than one interested buyer…. In this case, we would suggest you choose Sell House Columbus to purchase your property because as you can see from our website we have not only given the best deals on probate property in Ohio but also on short sales!
Want to sell your house in Columbus fast (and securely)?
We have been in this industry for years and our reputation speaks for itself. If you are interested in choosing us as your partner in Columbus, you are always free to contact us through our website form, our social media pages, as well as giving us a call at (614) 300-5151. For immediate assistance, you can leave an email message on our site and we shall call you within the shortest possible time. In addition, you can leave a text message and we shall respond, as soon one of our real estate agents is free.
We are always here to help walk you through the probate process for a house in Columbus, we look forward to speaking with you. 🙂
Call us today at (614) 300-5151 to get a cash offer on your inherited house today!
Inheriting a home is a pretty sweet experience, yet bitter at the same time… You are left with great property value you can use to improve your life, but you are still mourning the loss of a loved one. So you may tend to ask yourself at this point “what are the tax consequences when selling a house I inherited in Columbus Ohio?” The tax laws have been designed in a way they will not add any more burden unto you upon inheriting the property. This implies that the financial consequences are less daunting than what you would expect, which is good news for you. 🙂
Tax Consequences when selling a house I inherited in Columbus, Ohio
Calculation of basis
In order to comprehend how you’ll be taxed having inherited a home, you need to know how basis is calculated. Basis, in this case, refers to the asset cost for purpose of the calculation of capital gains along other taxes. When a person dies, the value or basis of their property in Columbus is increased to the market value as at the time of their death. For instance, if a person purchased a home 20 years ago for $25,000 but it was worth $100,000 at the time of their death, that property would be valued at the latter amount for the purpose of calculating capital gains.
Taxation of gains/losses
Capital gains or losses refer to what you earn from selling property that you use for either personal or investment purposes. Such can be houses, furniture and many more things. If you decide to sell an inherited home in Columbus, that sale is regarded as capital gain or loss for the purpose of income tax. In most cases, for you to qualify for lower rates of long-term capital gains, you are required to have held that property for at least a year. However long the duration you have been in ownership of an inherited home, any gain or loss will still be treated as long-term.
Reporting the sale
Upon selling an inherited home, you have to report it for the income tax purposes. You should first calculate your capital gain or loss. This is done by subtracting the basis from the sale amount. You should then report that amount to the necessary authorities.
Having an inherited home can be stressing given the fact that you have new property to take care of and pay taxes for it at the same time… You should go through the probate process in Columbus as the first step to selling your home. The court will then authorize you to proceed as you wish. If there are any other individuals involved in the inheritance, you should first agree with each other on that decision. You can then file a petition requesting the court to allow you to sell the property.
You should then consider how much tax you are to pay. This will be paid against the capital gains or losses resulting from the sale of the house. You can call Sell House Columbus now at (614) 300-5151 to undertake a smooth and legitimate sale of your home. We are local here in Columbus Ohio and we know the market here better than anyone else. If you are still asking yourself what are the tax consequences when selling a house I inherited in Columbus, then we would be happy to discuss it with you in more detail.
Selling an inherited house can relieve you of quite a burden. In addition to that, selling the property to an investor is a basic simple and fast process. Contact us for inquiries on how to go about things when selling your home in Columbus and we will be glad to help you.
Inheriting a house is one of the few big surprises that life brings us sometimes. But what happens when you inherit a house in Ohio? As much as you may want to keep an inherited house, sometimes you may be forced to consider putting it up for sale. Well, selling an inherited house can be a demanding task, but definitely not impossible! With the right information and assistance from Sell House Columbus, you should have no problems selling your inherited house. So where does the difficulty come from selling an inherited house in Ohio?
Exactly what happens when you inherit a house in Ohio?
There are a number of factors that should be taken into consideration when planning to sell an inherited house in Ohio. Some of these factors include…
• Dealing with the emotional aspect of selling a loved one’s home
• The financial cost of making the necessary updates intended to attract buyers
• Dealing with potential costly liens and other hidden challenges
First thing, get ready for a rollercoaster of emotions
Selling a loved one’s house can be such an emotionally draining activity… This really cannot be stressed enough. The activity may involve removing his or her stuff, depersonalizing everything even more.
When our emotions get carried away, we often don’t make the best business decisions. Times like that are when you need people with experience buying and selling probate homes in Ohio to help walk you calmly through the whole process.
Negotiating and managing the selling process
And other times, one might have to deal with expensive liens or other problems that don’t become apparent right away. Regarding these things, disagreements among your siblings might arise about the selling price of the house.
Apart from that, you will have to meet the financial cost needed for making the required updates to make potential buyers aware of and (hopefully) interested in your inherited house. There are also legal and taxation aspects of the sale that you must understand to make the sale successful.
These are the major problems that potential inherited house sellers have to deal with. Unless you are a professional in this area, the process can be tiring and daunting.
Now you know what happens when you inherit a house in Ohio. This explains why you need to seek the help of real estate professionals who have had experience helping people sell their inherited houses. If you are considering selling your Ohio inherited house now or in the next few days or months, then you are better off speaking to one of our real estate experts. He or she will come in handy extremely to help make the process as simplified as possible. Give Sell House Columbus a call now at (614) 300-5151.
As a matter of fact, some of our real estate investors will be more than willing to buy your house if it meets their expectations.
Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away they leave their loved ones and their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it is not.
Whatever is the situation, the property is reassigned to the heirs with the court of law, and this extensive thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Columbus Ohio?“, and the answer is that it can be sold if simple steps are followed. As real estate investors in Columbus Ohio, Sell House Columbus advises sellers to go through the following steps and also suggests other investors check the procedures when they go for buying property on probate period in Columbus.
As real estate investors in Columbus Ohio, Sell House Columbus advises sellers to go through the following steps and also suggests other investors check the procedures when buying property in probate in Columbus.
Can a house be sold while in probate in Columbus, Ohio? Yes, but make sure to follow these steps first!
Property Appraisal
With the help of the independent certified appraiser, a property can be appraised. You can very easily look for an appraiser in the local phone book or by contacting a real estate agent for their recommendations.
So, as real estate investors, we look for buying property on probate in Columbus Ohio that has already sought property appraisal.
Obtain the Petition
When you are in the process of selling the property during the probate period you have to seek probation from the court. So fill out the petition form and provide all the details related to the sale of the property in Columbus along with mentioning the methods of sale.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
An investor only buys the property that has already completed the procedure of obtaining the petition, and we do look into the fact that the seller has gone through the process of obtaining the petition.
Place your Property for Sale
Next step is placing your property on sale. Be sure to inform the buyer about the matter that the property will be sold only after confirmation from the court as it is on probate. All real investors only buy the property that is on sale after seeking court petition. If your property matches these conditions then we might be able to take it off your hands.
As a buyer, you have to seek the court for confirmation to confirm the sale of your property in Columbus. Generally, hearings take place within a period of 20 to 40 days. Please do not forget to make arrangement and take 10 percent of the price from the buyer before the date of hearing from the court. As investors ourselves we tend to ensure the fact that the seller seeks the court for the confirmation soon.
Advertise in Local Newspapers
Inform about the sale and advertise it in local newspapers. This is done so that the public is informed about the property sale during probate period. It also allows open bidding for the other interested people so that the property gets the best price. So if you are seeking to buy property on probate period in Columbus, you can bid in the court hearings. We often come to know of good property on probate through the local newspapers.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are done and buyers and real estate investors come for bidding. After the final agreement is done the cashier’s check is given to court after the bid is confirmed. If there is a new buyer, refund the money of the previous buyer and take the deposit of the buyer after the confirmation has been given by the court… We tend to always pay some money as a deposit of the original price, to the court after the contract has been confirmed.
After this, you can complete the contract with the buyer after the above-written steps. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Columbus, then we can help.
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One of the very best things about working with the people of Columbus Ohio to buy their Columbus Ohio house for all cash is helping people out of a jam. We have the cash and we can buy your Columbus Ohio house for all cash. Just like we purchased Anthony’s house. Contact us today for a no obligation offer.
Selling an inherited home in Ohio is not as easy as people think! Read on to learn how to sell a house you inherited in Columbus Ohio…
First of all, there is always that emotional bit of preparing a loved one’s house ready for sale – which most likely includes depersonalizing his or her rooms and also clearing out all the belongings… Then there is the cost of marketing the house in order to attract potential buyers.
Usually heirs get to deal with the high costs of liens and other issues. Consequently, disagreements may arise.
Therefore we at Sell House Columbus have compiled a few points that should help steer you in the right direction, if you ever find yourself in such a dilemma. Here are a few tips on how to sell a house you inherited in Columbus, without having to sweat much.
Making the probate process go smoothly
Get some advice
The first step you should take is to get some professional advice. You must understand the status your house is in. Make sure that you verify your ownership. Seek advice from a real estate attorney. Get info from other experts too. And completely utilize this site too of course. We can also give you a fair deal for your inherited local Columbus house if it qualifies. Fill out the form here to get started.
Next Step: Begin the probate process in Columbus
Before you embark on the selling process, your house must go through a probate. Most countries allow for a summary probate – which is just a simple process that takes a very short time and involves less legal processes. Once your house passes the probate process in Columbus, you can then put it on the market.
Tax consideration
The tax basis of your property is the house value on the date that the person who willed you died. The difference between the amount you realize from the sale and the value is basically the gain on which you owe the taxes.
How to sell a house you inherited in Columbus
Agreeing to sell
If you are ready to sell your house in Columbus, you can inform the executor to petition the court in order to get the “go ahead” sign and proceed with the sale from the there. Problems always arise when siblings who share the inheritance have different views – for instance others may want to sell the house while others may not be for the idea. If and when this happens to be the case, it is important to “disagree to agree”. It is also important to involve your estate lawyer in this stage.
Preparing to sell
A house that belonged to an elderly person may require repairs and a bit of updating before you can put it on sale. You will need to get rid of everything! You can choose to hire an inspector to note down potential issues and recommend possible repairs. Although you can sell a home in Columbus “as is” you may be forced to accept a lower price, especially if your house requires extensive repairs or cleaning.
Here at Sell House Columbus however, we will always give you a fair deal and help you get as much value from your inherited house as possible. We often times buy local houses in Columbus, repair and fix them up and either rent them out or sell them to someone else looking for a great deal.
If your local Columbus house meets a few simple qualifications, we can buy your house fast.
You can fill out the form or pick up the phone and give us a ring anytime at (614) 300-5151
What is a short sale and how does it benefit you here in Columbus?
If you’re thinking that question about yourself… great question!
In this article we’ll dive into that question so you as a Columbus Ohio home owner can tell what your options are during foreclosure or just if your home mortgage is underwater.
What is a Short Sale and How Does it Benefit You?
A short sale can be a smart way to mitigate foreclosure (here’s a great definition of what a foreclosure is in case you’re not sure) on a mortgage, although they can be difficult to attain in today’s market, they often prove to be a simpler way to resolve any debt left over from a loan.
Short sales were really common in the market a couple years back when the flood of foreclosures hit the Columbus market… but as foreclosures have slowed down and home values have climbed back up a bit… lenders are a little less likely to offer a short sale as an option as they used to be (but they are still doing a lot of them!).
Here are a few reasons you may want to consider short sale on your Columbus home
You Avoid Foreclosure And The Harmful Effects Of It
The best benefit of short sale is that you avoid a foreclosure on your home. Your mortgage lender accepts less than what is owed on your mortgage, leaving you without the debt that you cannot afford.
Foreclosure can lead to all kinds of financial problems, starting with the inability to obtain a new loan for a home because a foreclosure stays on your credit record usually for up to 7 years.
Even renting will become more difficult as your credit score would be affected, and you often have to disclose a foreclosure on a rental application. Foreclosures can also last a long time (up to 7 years as mentioned above), making you wait years to even qualify for a new mortgage.
Credit Worries
With a foreclosure, you face all kinds of ramifications with your credit. Buying a car and renting a house may be impossible through the normal bank loan routes.
If you work with money at your job you could even face termination if your employer puts a lot of stock in that kind of thing (most employers won’t but it has been done before).
A short sale relieves the debt that is left over from what is owed on the mortgage, letting both the bank and the seller move on. A short sale is also easier on your credit score, which can allow a homeowner the ability to recover in the long run. Your credit report will only show a pre-foreclosure status, which reduces your credit rating minimally compared to a foreclosure.
Buying a New House
A foreclosure can last for a long time, making it impossible to purchase a mortgage again for up to 7 years.
Short sales offer a little more flexibility for the seller, allowing new home applications only 2 years after the filing depending on the bank. It also makes a mortgage lender more likely to approve your loan than if you had a full foreclosure, getting you back into a home faster.
Again, this all depends on the actual bank / lender you’re working with… so if they’re giving you a hard time a year or two after a short sale… shop around and find another bank to work with.
Usually No Fees Involved
One potential benefit of the short sale is there are usually no fees associated with the process from the bank. The banks just want to get the note off of their books… and if it can be proven that your house is “underwater” (you owe more than your house is worth)… and you’re at the risk of walking away from the house… the bank may rather work out a short sale instead of going through a costly foreclosure.
With a foreclosure, your mortgage lender may tack on extra fees that only make the damage worse.
Some real estate consultants may charge a fee for helping facilitate the foreclosure with your bank… so check with them before you enlist a real estate agent or firm in helping you with this.
Our company, Sell House Columbus may be able to guide you in the right direction on how to give yourself the best shot at a bank approving a short sale with your Columbus area house… so connect with us by calling (614) 300-5151 or shoot an email to us through our contact page here.
Getting a Short Sale – What You May Need To Provide
You will have to provide the bank with proof of being unable to pay your mortgage payments. This can be difficult and is best resolved by finding a good real estate attorney in your area that has experience dealing in this type of law.
If you don’t know who to contact or where to turn to see if a short sale may be a good option for you… get a hold of us.
We won’t charge a thing to discuss your situation with you and let you know your options.
And we can even give you guidance and pointers at absolutely no cost or obligation.
Sometimes we’re actually able to do the work for you or even buy the house from you to get you out from under that mortgage… so that may be a viable option for you.
We buy Columbus houses and we work with home sellers like yourself who are having troubles getting out of your house the traditional way… or who can’t (or don’t want to) go the usual route of listing with an agent.
Get a hold of us anytime to discuss your situation. We’re here for you!
Or, if you want to see what we can offer on your house… click the link below and fill out the form on the next page. We’ll make a no-obligation cash offer to you within 24 hours. At least that way you know whether that is an option for you or not.
Going through foreclosure in Ohio? This article walks you through the affects foreclosure could have on you…If you are trying to sell your house, you may be finding that it is more difficult than you had expected… especially if your house has any repairs needed that buyers just don’t want to deal with.
In this article we’ll dive into some of the devastating consequences of foreclosure in Columbus for house sellers.
Local Columbus House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
There are floods of homes on the market, and thanks to the economic turmoil in recent past (and still going on in some areas), some types of houses just aren’t selling as fast as they were 5 years ago… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range) are selling at a good clip.
Part of it is because lending guidelines have changed since the housing collapse so fewer buyers are out there for some homes… there are still stockpiles of foreclosed houses in Columbus that keep trickling into the market from banks… and buyers are more choosy than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate a 3%+ a year in value.
If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Columbus house fast, right?
If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs), but are still having a hard time selling your Columbus house, you aren’t alone. A buyer’s market makes conditions hard for seller’s to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are dealing with.
Worse yet, due to the devastating consequences of foreclosure in Columbus, many sellers in the area who hold out for the price they want are getting little action and no offers at all… sometimes leaving the house on the market for months on end.
How Foreclosures Have Driven Local Housing Prices Down
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Columbus. That means that there is more inventory on the market. When that happens, that drives the price of everyone’s house down because there are more options (at lower prices) for buyers out there.
When there is more inventory than buyers, it devalues the homes for sale.
The jury is still out on whether we’ve climbed out of this foreclosure hole or not. There are still lots of foreclosure houses in the Columbus area and the banks are still holding many many area homes in their own inventory that aren’t even for sale yet.
But, there are some things you can do in this market to reach your goals with selling your house.
Selling Your House In A High Foreclosure Market
If you’re wanting (or needing) to sell your house you’ve got a couple options you should look at.
If you don’t need to sell your house fast and can wait the market out… Get A Great Real Estate Agent On Your Side: If you don’t need to sell your house fast and you can pay the real estate agent commissions… it may be best for you to just wait the market out and give it some time for that perfect buyer to come your way and pay the price you’re looking for.The market is improving and if you can sell your house next year rather than now… it may mean a few extra bucks in your pocket on the sale at a higher value.A great real estate agent can help you list the house and market it for you. If you don’t have a god local agent, just reach out to us and we can connect you with some great real estate agents we know in town who have shown they can sell a house fast. Email us over here for a Columbus area real estate agent referral.
If you DO need to sell your house fast… look for quick sale options like selling your house to us:Selling your house fast in a market like this can be difficult if you go the traditional real estate agent route… unless you discount your house in a big way. Then on top of that discount you’ll be paying the real estate agent commissions… which takes even more cash out of your pocket in the end.Another option you should look at is selling your house to a real estate investment firm like Sell House Columbus.We buy Columbus houses and can make you a cash offer within 24 hours for a fair price.We’re not looking to list your house… we’re actually looking to buy the house from you… we’ll take care of any repair costs after we buy it from you, then we either keep it as a rental property or we’ll turn around and invest our time, money, and expertise into selling the house to another home owner.It can be a win-win-win situation.If you’re looking for full-retail value of your house, we can’t pay that. We do need a discount so we can make a profit on our end, but you won’t ever pay us any fees or commissions.
Reach Out To Us To Sell Your Columbus Ohio House Fast… Even In A Market Like Today’s
If you have any questions about our local Columbus house buying service just reach out to us anytime.
You can call us at (614) 300-5151 or reach out to us over on our Contact Page.
Or, if you’re ready to get a fair cash offer on your house today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way!
Whether you’re a buyer or a borrower/seller, a short sale, and foreclosure each present different advantages and difficulties.
What Is A Foreclosure In Columbus, Ohio?
In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source). If you stop making your house payments… your lender has the right to foreclose on your property so they can attempt to recoup their money that was lent to you.
A home is typically foreclosed on when a borrower fails to make mortgage payments. The lending institution assumes ownership and possession of the property, evicting the borrower. These properties are then sold at auction or more traditional means utilizing the service of real estate agents. A foreclosure can damage the credit rating of a borrower, and make it very difficult to obtain a mortgage for many years.
Depending on the state that you live in… a foreclosure can work in different ways. Check out the foreclosure process information over here at the HUD Government website.
What Is A Short Sale?
In a short sale, the home is still owned by the borrower.
The definition of a short sale is… “A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt” (source: Wikipedia)
In some cases, a short sale is an option agreed upon by borrowers and lenders. In a short sale, the home is sold for less than the outstanding balance of the mortgage. The unpaid balance (known as the deficiency) may or may not still be owed by the borrower.
This option typically takes some time, as a few different lending institutions may own the mortgage. All parties who have a stake in the property must agree to the terms of the sale, and a potential deal could fall through if even one lender doesn’t agree.
Short Sale vs Foreclosure – Your Options
While both options can have ramifications, a short sale often has less of an impact on the borrower’s creditworthiness. A foreclosure could impact a borrower’s credit score by 300 or more points, where a short sale may only dent the credit score by 100 points.
Borrowers who are foreclosed on are often ineligible to purchase another home for 5-7 years with a traditional mortgage, where under certain circumstances, a short sale borrower can purchase immediately.
As many Americans struggle with an economy that has yet to completely recover from the 2008 crash, folks are having a hard time making monthly mortgage payments. Choosing between being foreclosed and initiating a short sale (or a 3rd option… selling your Columbus house fast )is an easy choice for a borrower having troubles paying their mortgage on time.
Sometimes, lenders are willing to work with borrowers to complete a short sale, to avoid the fees and time-consuming process of conducting a foreclosure.
Our suggestion is always this.
Talk with your lender and discuss ways that they can work with you on your loan. We offer this service where we can help guide you in the right direction if you run into issues with your lender… just reach out to us on our Contact page and we’ll discuss your situation.
Attempt a short sale or other programs your lender may have that forgives part of your loan, creates a new / more affordable monthly payment so you can get back on your feet, etc.
If the bank isn’t willing to work with you very much… your best option may be to sell your house. Work with a local real estate house buyer service like Sell House Columbus to sell your house fast for an all-cash offer. If you’re interested we can look at your situation and make you a fair offer on your house within 24 hours. Just fill out the form on our website over here >>
Foreclosure. Last resort is to let the house fall into foreclosure. This is the worst possible scenario. It’ll harm your credit and you could still be left with money owed to the bank even after the foreclosure is finished.
By knowing your options, you may be able to dodge a significant impact on your credit score, allowing you to purchase a new home when your situation improves. A foreclosure on your credit report makes that possibility extremely difficult for 5-7 years, so if you have the opportunity, a short sale can be the better option.
Have a pending foreclosure? We’d like to make you a fair all-cash offer on your house.
Trying To Avoid Foreclosure in Columbus? You may be considering giving your house back to the bank.. is it a wise decision?Can I give my house back to the bank in Columbus without an expensive foreclosure?
The answer is YES!(but with caveats, read below for more details)
Can I Give My House Back To The Bank Columbus Without An Expensive Foreclosure?
There are many ways to avoid an expensive foreclosure in Columbus.
Your first step if you’re trying to avoid foreclosure in Columbus is to speak with your loan provider immediately to examine your choices to prevent home foreclosure.
You have to take action prior to getting too far behind on your mortgage payments in order to halt house foreclosure. You should contact your financial institution once you know you are likely to miss a home loan payment and inform them what is going on with your financial situation.
Your mortgage loan organization would rather work something out with you so they do not generate losses on your property by going through the actual foreclosure process.
You need to be open and honest with your mortgage company.
They may work something out with you that cuts down your rate of interest, which would reduce your monthly payment. In case you miss one or two payments but then are capable of start paying once again, they can usually add those repayments back to your home loan and consider you caught up on your mortgage. The financial institution will not accommodate you if you do not talk to them about what your situation is ahead of time is and asks for help.
Your mortgage loan bills or your card payments?
You’ll be able to prevent home foreclosure by ensuring you consistently pay your mortgage loan prior to any bills. Your house loan is an essential monthly bill you have. Credit cards should never take priority over your house loan repayment. You can deal with the consequences of not paying your cards a lot easier than you can the implications of failing to pay your mortgage.
Not paying your mortgage loan is the worst thing you can do with regard to your credit score. Getting behind on other sorts of debt like credit cards will never harm your credit as much as getting behind on your home loan. Not paying your mortgage loan could cause you difficulties with your credit cards in any case, so they ought not to be a priority when you have to pay your monthly dues.
Is selling your house in Columbus Ohio a way to avoid foreclosure?
One way to prevent home foreclosure is to try to pay your house loan off by putting up your property for sale.
You could probably be free from the financial hole you are in by selling your house for sufficient cash to pay the home loan off. And sometimes you may be able to have money left to start over again. This is an excellent approach to prevent foreclosure of your Columbus house and avoid a disaster on your credit score at the same time.
Another way to stop property foreclosure in Columbus is to really cut your spending right down to the bare minimum. If you’re able to reduce your expenses adequately you could avoid having to offer to sell the house you love. For anyone who is self-employed, one method to spend less would be to stop renting an office and make a workplace at home. You could also think about selling a car and having just one that you share.
You can definitely proactively do something to stop your home from going into foreclosure and harming your credit and financial situation even further.
We Buy Local Columbus Houses… Can We Make You An Offer?
Here at Sell House Columbus, we buy houses in Columbus Ohio and surrounding areas and we may be able to help you get out of your house and avoid foreclosure.
Selling your Columbus house by auction can be a good option if you follow the steps in this article below…Selling your home at auction in Columbus is a growing practice throughout America, because it offers an opportunity to sell your house fast, without paying real estate agent fees, and often with a profit.
However, as with all things, there can be downsides to auctioning your home rather than selling it through the traditional real estate sale process with an agent or to a real estate investment firm like Sell House Columbus.
In this article I’ll dive into some of the do’s and dont’s of auctioning your house in Columbus and surrounding areas and discuss the question of “Is Auctioning Your House A Good Idea in Columbus Ohio?”
Is Auctioning Your House A Good Idea in Columbus?
If you’re looking at auctioning off your Columbus house, keep in mind that there are several preparations that you must make before the actual auction starts.
The “Do’s”
In order to actually get your house auctioned off, you must first find an auctioneer in Columbus.There are many auctioneering companies out there today, so do your research before picking one to represent your house. One place you can start is your local phone book, a referral, or head over to the National Auctioneers Association website and do a quick search for auctioneers here in our area of Ohio.Look for those with plenty of experience, and even try attending an auction or two, just to get a feel for how they run things. Make sure to find out their fees that they charge for their services, as they can sometimes run quite high. In some instances they may take up to ten percent of the houses cost, greatly reducing the amount of profit that you will receive… sometimes much lower.Or heck, if you don’t want to hire an auctioneer… you can do it yourself. A good auctioneer can really help drive the price of a house up with their skill… but you can run the auction yourself as long as you’re clear about the rules of the auction with bidders, the starting bid price, whether they have to have cash and a deposit at the auction, etc.
Decide which kind of auction you want to run – Absolute or Reserve?Once you feel that you’ve selected the house auctioneering company in Columbus that’s best for you, establish which kind of auction you want it to be, absolute or reserve.In absolute auctions there is no minimum limit that your house must earn in order to be sold. This means that whatever the highest bid may be, is what you’re going to get.Reserve auctions are those that have a minimum limit, and if it doesn’t reach that limit, it doesn’t get sold.
Although it seems like a clear choice between the two, don’t assume that reserve auctions are necessarily better. Sometimes if bidders aren’t willing to reach the limit, it will never be sold and you’ll be sitting on a house that you don’t want. Also, auctions that are “no reserve” (or absolute) tend to attract more potential bidders to the auction looking for a great deal… and if one of them gets wrapped up in the bidding frenzie… that could mean the difference between selling the house that day and not selling it.
Think carefully about making a decision, and try to decide what it is that you want more. If you want to sell your house as quickly as possible in Columbus, then doing an absolute auction is the quicker option. If not, then perhaps a reserve auction would be more in your goals.
Don’t leave out any faults about the house from your auction descriptionA really important step in selling your house at auction here in Columbus is to list all the problems that your property has. Don’t leave out any faults about your house, because if you do the buyers have a right to come after you for any flaws that you didn’t list out before the auction.
Last…
Don’t go into an auction with fantasies of a bidding war erupting, leaving you with an enormous profit.Place a realistic price that you hope to earn, and don’t be too disappointed if your house sells for less than you think it’s worth. You may have an emotional attachment to the house that the people bidding on the house don’t have.Auctioning your house in Columbus may bring in less money than a real estate sale, but it is relatively quick, and can spare you the heartache and stress of the more traditional approach.
Why Are You Thinking About Auctioning Your Columbus House Anyway?
You landed on this article for a reason… auctioning off your house has crossed your mind.
It may help you sell your house more quickly… so why not give it a go right?
Before you choose to auction off your local house… try another option first.
Our company, Sell House Columbus, buys Columbus area houses. We’re not looking to list your house… we’re looking to actually buy it.
ugly houses, pretty houses, houses in great shape, houses that need lots of repairs
houses with lots of equity and even houses with little or no equity
We’ll pay a fair price, we can close fast (in as little as 7 days), and you won’t have to fix up the house at all.
If you’d like to see what we can pay for your house BEFORE you decide to auction it off… reach out to us.
You can call us anytime at (614) 300-5151or just click the link below and fill out the form on the next page to start the process.
So, Is Auctioning Your House A Good Idea in Columbus?… that’s up to you to decide. But if you want to see if working with us makes more sense first before you jump into the “auction” world… submit your info below to get started today!
Here’s another great read that we found when writing this article on some more tips and questions you should ask yourself before you auction off your house.
Selling Your Columbus House? Read this post to help you sell it faster today!It is no secret that selling a house in Columbus can be one of the biggest transactions to a number of homeowners.
However, before you start marketing your house and bringing potential buyers into it… there are a few things you should do, that we’ve learned over the years here at Sell House Columbus, to help increase your chances of selling your house faster and for a better price.
Sell Your Columbus House Faster By Doing These FIRST
De-Clutter and Take Down Some Of Your Family Memorabilia
You might want to take your time and make the whole place less personal by removing family photos and other memorabilia if you have a bunch of it up. Get rid of that shrine of little Johnny’s sports metals and the fridge full of kids drawings. At first, this may feel very weird to you, but to a potential buyer… they need to be able to picture themselves in that house. But if you fill the fridge with pictures and momentos of your family… it makes it harder for the buyer to see the fridge and picture their own things on it.
The following are other things that will play out before you sell your home.
Price it Right
While it can be very easy to decide on what you want your home to fetch in the market, it will make more sense if you consider the industry standards when determining its actual market value. And just know that what you want for your house and what someone in the current market will pay for it may be two different things.
Remember many people may be looking for homes, but they have become smarter than never before and they come armed with “research” they found online on websites like Zillow (which tends to value houses lower than what a buyer will actually pay for them). After all, research has actually shown that over 90% of home buyers start their search for new homes through the internet… so make sure that you’re not asking far more than the online sources show (or have a great reason to back up your higher price to potential buyers).
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NOTE: If you’re looking for an accurate value to your Columbus Ohio, we can actually help you with that. We buy houses in Columbus and know the market very well and would love to give you a no obligation offer on your house and a very accurate Valuation so you know what other buyers in the market may pay on the open market. Just call us, Sell House Columbus, at (614) 300-5151 or submit your property information to us through the form through this link here >>.
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Make the Property More Enticing
Technically, once you have the house marketed, in many cases, it can attract attention right away. As a matter of fact, studies have shown that over 70 percent of the potentials buyers will see the home within 3 to 6 months after its listing. However, if you’re not getting the attention you want for your house… there are some things you can do to make your house look better to potential buyers.
Things like…
Do the small things in your yard… ideally you can ensure the shrubs and the yard are neatly done and trimmed. You can even go extra mile and you replace the existing flowers with new and fresh ones.
Do repairs or repaint your house if it’s looking battered and bruised. It’s is more important than you may think.
If you have great furniture… think about including some of the furniture in the sale if the buyer wants it.
The thing about most “retail” buyers out there… is the majority of them have a hard time looking past the ugly parts of a house. Yes, they can repaint it after they buy… or they can re-do the yard… but a first impression is a lasting impression… and some buyers just can’t get past that initial ugly visual.
Don’t have the money or time to do the repairs or upgrades yourself?It may take a while to sell a house that has been neglected over the years. But, local Columbus Ohio home buyers like Sell House Columbus, we can buy your house fast, for cash, and you won’t have to do any repairs yourself. We’ll take care of it all, on our dime.
We’ll make you a fair cash offer within 24 hours. No obligation. No rush.
Have an Inspection Carried Out
To avoid being surprised with some property problems that must be sorted before the deal is closed, make sure you have an inspection done and the key reports prepared well in advance that is long before the buyers start to show up. Ensure every single issue is dealt with. The best part, the more your house is problem free, the more it is going to sell within the shortest time possible.
If you need a referral to a great local Columbus Home Inspection Service, shoot us an email or give us a call at (614) 300-5151 and we’d be happy to give you some names of reputable inspectors who can help you out.
Get All the Paperwork
Although, this step is often ignored, it is surprisingly important. After all, every buyer will actually want to know everything about the house before he or she takes the rein. Who normally does the maintenance and after how long, when were the important systems like the HVAC last maintained, etc. are some of things that the buyer will want to see.
Selling A House In The Local Columbus Real Estate Market Can Be…
… challenging if you don’t have your ducks in a row.
If you’re having a hard time selling your house as quickly as you want… consider doing some of the things I lay out in this article to make your house more attractive to potential buyers.
Also, if you need to sell your Columbus house fast and are having a tough time doing so… connect with us.
We buy local houses. We can pay cash for your house, pay you a fair price we both agree on, and get you out of your current house in as little as 7 days rather than having to wait months and months to sell your house the traditional way.
In this article I’ll dive into some ways you can start to look at to sell your local house more quickly.
There are lots of reasons people need to sell their house fast.
For instance, some of these reasons may include:
need to relocate to another city because of a job change
vacant property is being a burden on you
divorce
financial hardship
you inherited a house that you don’t want to keep
… among other reasons for needing to sell your house
So, if you’re looking to sell your local house fast (which who wants to sell their house slowly anyway?)… check out some of my tips below in this quick article.
Leverage The Web To Get The Word Out
Stats have shown that over 80% of house buyers go to the web first to research and find houses.
So if your house isn’t on the web… how are buyers going to find out about your house?
There are lots of ways to get your house online. You can list it on websites like Zillow, redfin, Craigslist… or even setup your own website for the property.
Then, take that property listing and get it everywhere online that you can. List it on all of the classifieds websites (again, Craigslist, Backpage, etc.).
Total Cost:FREE – Cheap (most routes are free, but some of these sites have paid versions)
Use Facebook To Spread The Word About Your Columbus House For Sale
One of the best ways to sell a house is through word of mouth.
Tell all of your friends and family that you’re selling… and have them tell everyone they know.
Also, hop on your Facebook account and share the property listing with your friends and ask them to spread the word for you to all of their friends who may be interested. What you need to do is simply send your link to your Facebook friends.
There may be a person in dire need of a house. Besides, you may also get a friend who may link you up with a buyer. The importance of using Facebook over other social networks is that it is free and you only need to be connected to the internet in your computer.
Total Cost:FREE
Use of Local Dailies (Newspapers, Magazines, etc.)
One of the things we’ll do whenever we need to sell a house fast is also get our property in the local newspaper. It gets your house in front of lots of people… and one place lots of buyers look for houses is in the “homes for sale” section of the paper. Put your phone number… a link to your online listing if you have one… a picture (ads with pictures get many many more responses than ads without the picture of the house).
Add in a few of the best parts about your house… the price… and end with a clear call to action on how they can setup a time to come check your house out.
Total Cost:Under $100
Get Your House On The Local Columbus Ohio MLS
The number one place buyers look for a house is the “multiple listing service”. That’s the fancy name for where houses go when real estate agents “list” a house.
A listing for your house will go into a central database that all local Columbus real estate agents in our area will have access to… so they can bring their buyers to the houses on the MLS that fit what they’re looking for.
You can get your house on the MLS without hiring a real estate agent to sell your house. Some agents will let you pay a few hundred bucks to just list your house on the MLS for you and take no commission on the sale.
Sell Your House To A Reputable Local Property Buyer Like Sell House Columbus
Last, as another option to sell your house… if you really need to sell your Columbus.
We buy houses in and around Columbus Ohio, and can close quickly.
If you want to sell your house and are curious on how the process works… and want to see what we can pay you for your house… you can get that ball rolling in a couple ways.
Give us a call today at (614) 300-5151: We’ll ask a few basic questions about your house… and within 24 hours we’ll make you an offer on your house. No Obligation at all. If the price works for you. Great! We can close on your timeline… in as little as 7 days.
Go fill out this really short and simple form with your basic house info: We’ll evaluate the property as soon as we get it today… then we’ll call you with a formal offer on your house in less than 24 hours.
It’s really simple. You pay no fees. No commissions.
We just agree on a price that works for both of us and that’s it.
Let us make you an offer on your Columbus area house (we buy in other parts of Ohio as well). You don’t have anything to lose. And you can have your house sold by this time next week (if you wanted us to close that fast) rather than having to wait months and months to market your house yourself the traditional way.
Selling your house is something you’ll have to do maybe just a few times in your life. And unless you know a local Columbus real estate agent who will sell your house for free or a hugely discounted commission… it can be a real pain in the rear and an expensive process for you as well.
So… you landed on this page about “How to sell your house by yourself in Columbus Ohio” because of a few reasons I’m guessing…
You have no or very little equity in your house so you can’t afford to pay a real estate agents commissions
You have equity but want to try to save money selling the house yourself before you resort to hiring an agent
You’re in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions
You can’t wait the months and months it sometimes takes to sell a house in the Columbus area in this market so you want to try to sell it more quickly
Whatever one you land in… there are ways to sell your house yourself here in the local Columbus real estate market.
Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Columbus area house yourself.
How To Sell Your House By Yourself In Columbus Ohio – Let’s Dive In
Know The Columbus Real Estate Market Well
The first and most important step is doing a market research on your neighborhood in the Columbus Ohio area. This step involves visiting various home marketing sites (Zillow, Eppraisal the Chase home value estimator, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques.Proper homework on these issues will allow you to come up with a right price for your house and also helps you to avoid making certain selling mistakes.
If you don’t want to hassle with trying to come up with a home value yourself… give us a call at (614) 300-5151 and we’ll give you an honest fair valuation of what your house is worth on the retail market (if you’re going to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we’ll make you a fair all-cash offer on your house to give you that option of selling quickly (we can close in as little as 7 days if you want to).
Asses the market
This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar houses. Are there lots of houses for sale in your neighborhood here in Columbus? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down.
Asses the house
As a seller, your house should be in top condition or shape in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, in a Columbus, a house with a drive way parking may be more attractive to buyers compared with one with a garage parking.
Also, does your house require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? Is the house outdated at all? (you know, those popcorn ceilings ;-). All of these things can make the house more attractive or less attractive depending on the buyer… which changes the price they’re willing to pay.
After all of this… come up with an asking price for your Columbus home that is fair… isn’t so high it’ll take you 12 months to sell the house… but is attractive so you get a frenzy of buyers who are ready to buy it quickly.
Use Photos or Videos
Columbus buyers are obsessed with media. Taking walk-through videos of the house and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video.
So take some great pictures. Take a picture of every room in the house that helps show it off. Take a picture of the house from the outside in a few different angles… people want to see the house before they ever show up to see it. So having great pictures of your house online could be the difference between getting the right buyer quickly… and waiting months and months to sell.
Get Your House “Listed” On The Local Columbus MLS And Market It
You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local Columbus MLS. This gets your house in front of all of the real estate agents quickly (so be prepared to pay those “buyers” agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer.
Place ads in the local newspaper, signs on the roads, and hold an open house.
All Of This Sound Like A Lot Of Work To Sell Your Columbus House Fast Yourself?
It can be.
And in the end, many Columbus house sellers think they’re saving money and time by marketing the house themselves… when in the end it costs them more money to go that route.
When you sell your own house here are some things you need to consider…
If you’re not a good marketer or aren’t ready to spend a bunch of time marketing your house right… selling it yourself may not be your best bet
If you don’t do a good job preparing the house and the marketing materials… and working with buyers to really build the value of your house in their minds… you may actually sell the house for 3-8% less than you may get for the same house an experienced person marketed the house for you
Too many sellers never think about holding costs or opportunity costs… every month that your house doesn’t sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $1,500/mo… and $1,300 of that is interest… if it takes you 7 months to sell your house… that cost you an extra $9,100 (not to mention taxes and insurance you paid during that time). So, if you were able to sell that house more quickly… would it make sense for you to provide a buyer a discounted price today so you can close quickly and move on? Something to think about.
… here at Sell House Columbus we actually buy local Columbus Ohio houses.
We’d love to make you a fair, NO OBLIGATION and NO HASSLE cash offer on your house.
We can close quickly (in as little as 7 days if you wanted to)… which would save you thousands of dollars vs. trying to sell the house yourself and waiting for months.
Also, when we buy local Columbus houses we do all repairs that are needed (we pay for it ourselves) so you don’t have to worry about that.
If you want to see what we can pay for your house, give us a call today at (614) 300-5151or just fill out the quick simple form through the link below.
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