As home buyers, we have a lot of experience regarding what it takes if someone wants to “sell my house now”, especially for Houstonians (that’s our specialty!) People who want to sell their house now need to sell it quickly for various reasons. We purchased a house from someone last year who needed to sell as soon as possible so she could include the sale in the previous year’s taxes. She also wanted the money quickly so she could put down a significant amount toward’s her son’s college tuition. (Read her story here! I Sold My House for Tax Purposes.)
Below, we have compiled a list of reasons why you might need to sell your house now, as well as suggestions on how you can get started TODAY!
I need to sell my house now because:
1. I am falling behind on my payments.
Falling behind on mortgage and/or tax payments is not uncommon, but it doesn’t take long to build up to a BIG problem! One common scenario might be someone who has made regular mortgage payments for years, and then suddenly loses their job. If they suffer from any other financial hardships or big expenses, you might no longer be able to make mortgage payments on time. Usually, the lender will contact you very soon after your payments start becoming late.
The first thing to do at this point is to either respond to the correspondence from your lender, or to contact the lender yourself. Your priority should be to try to catch up with the payments or arrange a payment plan to get caught up. However, if you know you will not be able to catch up, or if you know you need a long term break from the financial pressure, then selling quickly at a discount might be your best option.
2. I need to close and have the cash by a certain date.
Another reason you may want to sell your house immediately is because you need to close by a certain date. One example is the scenario mentioned above: Laura needed to close by a certain date for tax reasons. We have also had sellers who needed to purchase a large item or pay for a huge expense as soon as possible. For example, once we had a seller who needed to purchase a handicapped accessible van for their mother, for whom they were providing care. Because the mother could no longer get around by herself, the need for care and transportation was pressing; so, they decided they would rather sell fast for cash then put the house on the market for full price and wait.
In this case, the first thing you should do is create a timeline and budget for your expense. This will help you determine whether or not selling to an investor is really the best option for you. Once you know your timeline and budget needs, call a home investor such as Big State Home Buyers and let them know your situation.
3. I am moving and do not want to leave the house vacant.
Another common reason people want to sell sooner rather than later is that they are moving soon or already moved. Many people know the dangers of a vacant house, such as vandalism and faster deterioration. While some families choose to update the house, pay for closing costs and list the house, some of our past clients didn’t want to think about it or put any work into an old house when they were already prepared to move on.
In this type of situation, the first thing you can do is get an inspection on the house or contact a home investor for a free quote on the value of the house. While getting an inspection before selling is an option in all 3 scenarios, people choosing to purchase a new house and move to a new house are more likely to have the resources for the inspection. Having an inspection done is a great way to prove the value and current condition of the home without having to show it yourself to the home investing company.