If you have had your Denver house on the market and haven’t been able to sell it, then Property Scouts has some information to share with you! If you’ve had your house on the market longer than you expected and haven’t received an offer, not any viable offers, stop worrying and give us a call. There are a few options we can tell you about that will get you a fair price and quick closing.
Have you lowered your asking price?
Yes, we know your Denver home means a lot to you, you have many memories, but it is just a house to anyone else. And if the Denver, CO housing market isn’t booming right now, nobody is going to pay top dollar when there is a house down the street for less that is close in condition and quality.
There are 5 other options we suggest to anyone that can’t sell their Denver house:
1) Take Your Denver Off the Market
This simply may not be the right time to sell a Denver house. If the market is saturated, or interest rates are up, or jobs are down, or maybe it is a cold winter. Whatever the case may be, taking your Denver, CO house off the market for 3 to 4 months may be the beset option for you – if you have time.
2) Get a Second Mortgage
If you are looking to get a lower mortgage payment and use the equity you’ve built up in your Denver home, then talk to your mortgage company about a home equity loan. The downside to this, it could get you a higher monthly mortgage payment. If a lower payment is you goal, maybe they can modify your loan plan at a lower interest rate, like going from an adjustable rate mortgage to a fixed-rate mortgage, either way with a lower interest rate, your payment should drop. Then you can take the money you’re saving and put it towards Denver real estate investments.
3) Make It A Rental Property
If your Denver home isn’t selling and you can’t afford or don’t want two mortgages, consider renting your current Denver home for the price of your mortgage payment, maybe a little above it so you can cover any additional expenses you will incur from having 2 houses, like insurance, maintenance and repairs.
4) Consider List Your Denver as a Short Sale
If you’re upside down in your mortgage, you’re probably not going to get what you need for it. You can negotiate with your lender to place your Denver on a short sale option, meaning they need to agree to accept less than you owe. This is always a option to ask about if you’re behind on payments and have foreclosure possibilities. Your lender would rather get less than nothing and must take the house back.
A short sale means you don’t have time to wait the Denver, CO market out, you need a buyer with cash than can do this quick, like us at Property Scouts. We buy houses in Denver, CO for cash every day and offer a quick closing. Give us a call and let’s talk about your situation and what we can offer you. Our number is 866-366-4863 and one of our team members will make you a no-hassle offer to buy your Denver, CO house.
However, keep in mind that a short sale could affect your credit and affect your credit history, making it difficult to buy another house anytime soon.
5) List Your Denver House As A “Lease to Own” Option
By offering your Denver house as a lease to own, you are essentially renting it out for a period and the renter will have the option to buy the house at the end of that time. If they choose not to buy, you have the right to sell the house. You can also apply part of their rent towards a down payment and do a FSBO with the Denver house.
This option is good when you’re not getting any bites on the traditional real estate market. However, it does make you a landlord, so not only will you be getting rent, but you’ll be responsible for maintenance and upkeep, insurance and mortgage payments, and all the other hassles of having a tenant.
If You Can’t Sell Your Denver House – call us to learn more about your options at 866-366-4863 or complete this form and we will provide you more information today.