We Buy Houses In Columbus, Ohio. One option a homeowner has available as a resolution to at least partly cover remaining debts in this situation is selling the home directly. Listing your home for sale can be burdensome, many owners of distressed properties find themselves feeling overwhelmed by the process. If facing the decision of selling your distressed property in Columbus on your own, the task can be daunting, to say the least. We are homebuyers in Ohio and we can help you! Sell to Homesmith now and avoid wasting time, all of the inconveniences, and costly mistakes.
Distressed properties fall under one of three categories: foreclosure, short sales, or REO properties. Regrettably, the property can fall under foreclosure, due to failure to pay the mortgage or tax bills. Without any resolution being reached by the homeowner to rectify the past due to payments, a home could be put up by the lender for sale at a loss, or what is known as a short sale. If a home fails to sell at the foreclosure auction, it becomes what is known as a real estate owned or bank-owned property.
Should you find yourself in this situation, there are four things you’ll want to know about before selling your distressed property in Columbus OH.
1) Holding The Bag In Columbus OH
Should the property sell for less than the lender is due, you’ll still be held financially responsible for the debt remaining on the mortgage, even after foreclosure. This is known as a deficiency balance, which quite often exceeds the value of the homeowners remaining assets and could well lead to having to declare bankruptcy. Even with a short sale, unless it is agreed to prior, you could still end up owing this debt.
2) Time Is Of The Essence In Ohio
When it comes to taking action to ward off impending foreclosure, this isn’t the time to be indecisive. Don’t hide your head in the sand and hope your troubles will go away. There truly is no time like the present. When considering selling your distressed property in Columbus OH, don’t hesitate. The bank has a countdown going that will not stop and you’ll be losing time and likely money the longer your home sits unsold.
3) Non Cash Offers For Your Columbus Property
When you are selling your distressed property in Columbus OH, you’ll want to forego working with buyers who have funds that are based on non-cash investments. Time isn’t on your side and sidesteps stalling the sale of your home until they’ve liquidated their assets. You’ll want to be sure that you are spending this precious time wisely and only working with qualified cash buyers.
4) Assessing Price In Columbus OH
It cannot be overstated that setting the price of a property on the market in Columbus OH, is extremely important in accomplishing a quick sale. It takes a great deal of investigating to set the price correctly. You’ll need to understand the going rate on the current market, most especially for distressed properties, which often include repairs and other costs that aren’t associated with traditional home sales. Making an error on the asking price can cause the property to sit. That is the last thing you want when you’re facing the consequences that can come with going through foreclosure. You should be aware, when you are selling a distressed property, you can anticipate selling at below market value.
Sell My House In Columbus OH
Listing a distressed property in the Columbus area on your own can be brutal! If facing the decision of selling your distressed property in Columbus on your own, the task can be daunting, to say the least. Listing your home on the market is no guarantee that it will sell. Consider selling to Homesmith directly instead and avoid all of the stress.
If you are ready to sell your house in Ohio, we’d love to make you a fair, no-obligation, and no-hassle cash offer on your house. We’re local professional Columbus home buyers and we offer cash for houses throughout the Buckeye State . You don’t have anything to lose by seeing what we’ll offer on your house.