If you’re in a position to sell your home but do not have any equity in the property, you may be wondering if you are at a disadvantage. Homeowners without equity often find selling to be a stressful experience, and may be looking at a drawn-out process—as well as the fear of foreclosure if they are already in financial distress. The real estate professionals at Baile Properties in St. Peters, MO, can help you sell your home quickly and painlessly, regardless of whether you have equity in the property or not.
Here are some tips from these real estate experts on selling a house with little to no equity:
- Sell To An Investor: It can be challenging trying to find a local buyer when you have no equity, but an investor or company may be more than happy to take the property off your hands. Consider selling the property to an investor but be aware that you may have to reduce your asking price significantly in order to make the sale.
- Go The Short Sale Route: Also known as a compromise sale, a short sale involves the lender and homeowner agreeing to sell before foreclosure becomes imminent. At this point, the bank understands that they will incur a loss and must agree to the sale of their property, in writing.
- Sell On Your Own: While it’s usually a good idea to work with an experienced realtor to sell your home, you do have the option of going the for sale by owner (FSBO) method. Taking care of listing and marketing your property yourself can save you money and help you get the property off the market sooner than later.
When you decide to sell your home or have questions about the selling process, get in touch with Baile Properties in St. Peters, MO. Call them at (636) 614-6629 or visit their website for more information.