Have you found yourself saying, “I can’t sell my house in Brevard County Florida,” then this article is for you. Perhaps you have been trying to sell your Brevard County house and haven’t received any offers, don’t panic! There are still a few options at your disposal to help you sell your house for a fair price.
Most likely you already tried the first one: Lowering the asking price.
Every person wants to sell their house for a greater amount than they paid for it but if the economy’s not doing well, the housing prices in your area are low, or your house has some sort of location or structural problem, then you may have to lower your asking price.
What are my options if I can’t sell my house in Brevard County?
There are five other options you can try when you can’t sell your house in Brevard County:
1) Take It Off the Market
You may be trying to sell your home at a bad time, such as during the winter months, during the holidays, or when there are a lot of other houses just like yours on the market.
In this situation, you might be better served by taking your home off the market for a couple months (if you can afford to keep paying the mortgage) and wait until the market conditions improve.
2) Take Out a Second Mortgage
If you have built equity in your home, an option may be where you take out a home equity loan as long as you can afford to pay the higher monthly payment. If you are not able to, an option may be able to renegotiate a loan modification plan. Talk with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. Then you can use the loan to fund other things, including real estate investments.
3) Rent Out Your Home
If you don’t want to hold two mortgages, your old home and your new home, and can’t sell your house, another option may be to rent out your home at or near the price of your monthly mortgage payment. You will now apply the rent to the mortgage without having to incur any additional expense (other than upkeep, any maintenance and repairs).
4) Consider a Short Sale
“I owe too much and I can’t sell my house in Brevard County!” You may be upside down, which can happen if you purchased your home within the past couple of years and currently owe more on it than the home is worth.
Sometimes you can negotiate with your lender to accept less money than what you owe on your mortgage. When the other option is foreclosure, your lender probably will accept a short sale.
To do a short sale, you’ll need a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (321) 549-8686 for a no-hassle offer on your house!
Keep in mind that short sales can affect your credit rating. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.
5) Offer a “Lease to Own” Option
Another option is “lease to own” when you rent your house to a person with the option to purchase your house at or before the lease expires. This is a good option if you can’t find qualified buyers. You can collect rent plus a lease option fee from a tenant while they have time to save up for a down payment and establish their credit rating so they can get a mortgage to buy your house down the line.
You also can also add a lease premium to their monthly rent which can either be applied to the down payment later or if they don’t end up exercising their option to buy your house – you can keep it as income.
I Can’t Sell My House in Brevard County FL!
If you are interested in learning more about your options for selling your home in Brevard County Florida, please call us at (321) 549-8686 or fill out the form on this page to get more information sent to you right away!