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Did you know there are at least a 12 Different Ways to Sell Your Property that Realtors won’t tell you about?
We buy Galveston house properties fast for cash for all different purposes including to keep as rental, to resell after making improvements, or to resell with owner financing, a rent-to-own plan, or even to just live in ourselves.
I’d like to talk to you about your options! I'd Like To Buy Your Property!
Our offers can even sometimes be combined with traditional listings using what we call "combo plans" that allow sellers to work with specially trained real estate agents and investors simultaneously to provide property owners with both a plan A and plan B for selling their property.
Quick Cash Sale
One of the best ways to sell a home a little faster and for a little more money is to offer the home with owner financing. Owner financing allows a buyer to buy a home by, essentially, paying a monthly mortgage payment to the seller. It’s like rent, except that the buyer is really buying the home and taking full responsibility for maintenance, improvements, taxes, etc.
Selling a home in this way saves the buyer thousands of dollars in financing fees and that savings can be put directly into the buyer’s (or seller’s) pocket.
Homes with low-interest rate mortgages offered with owner financing are also attractive to people that might not be able to get as low of an interest rate on their own or in today’s mortgage market.
Any home (and mortgage) can be offered with owner financing if the right legal arrangements are made.
The disadvantage of selling with owner financing is that the buyer, like any buyer, could default on the loan. In this case, the home becomes the seller’s problem again, and the seller may have to foreclose on the buyer. If you have a fixed low-interest rate mortgage, Hippie Hollow Homes may be able to buy your home through this program orbroker the sale of your home to someone else using the correct legal procedures.
It’s also a great option to explore as part of a “combination plan” to sell your home by marketing it to several buyers simultaneously (including listing it with one of our affiliates). Contact Us if you would like to discuss this further.
A creative way to lease a home without taking responsibility for maintaining it is to offer it for sale as a Lease Option. A Lease Option is done by essentially leasing a home and selling the tenant an ‘option’ to buy the home at a later date for an agreed upon price.
Typically the tenant pays an option fee (down payment) of 3-5% of the agreed upon sales price and then pays a slightly higher than average monthly rent of which a portion (10-15%) is credited toward the future purchase. The tenant also agrees to pay for all maintenance and repairs (beyond what insurance might cover).
The disadvantage to offering a home for lease-option is that, like leasing, the tenant may stop paying rent, damage the property, and/or never exercise their ‘option’ to buy the property. This happens about 70% of the time, by the way.It is also important to understand that a lease option is a complicated transaction that is strictly regulated by state laws that restrict how these transactions can be structured. Because of these laws, most investors are no longer selling properties using this technique, and Galveston Home Buyers recommends against selling this way in Texas. If, however, this strategy is ideal for a particular seller, Hippie Hollow Homes can structure a transaction that has the same benefits, but is done in accordance with Texas laws.
Is a lease option legal in Texas?
Yes, but practically speaking, no. Texas Senate Bill 629 regulates how these transactions must be structured. The regulations include requiring notifications and lender agreements that are probably not practical or possible. Failing to structure these transactions legally has penalties so severe to the seller, that it is not likely to be worth attempting.
What are the alternatives to lease option?
Do you need help with your mortgage Loan Modification?
We are experts at negotiating and stopping foreclosure fast!
Our partners at A2Z Real Estate Solutions, Inc. we will work passionatly to correctly restructure your loan by skillfully negotiation with your lender.
We will provide our clients with the following benefits:
~ more afordable payments
~ lowered interest rates
~ save your credit
~ save your home from foreclosure
If you want to keep your home we may be of some help by completing a Loan Modification with your lender.
Use our professional services and key contacts we have with most lenders to complete a successful Loan Modification.
Most owners do not know what it takes to convince their lender to reduce their payments and principle. We can usually cut them both in half!
~$500 to start!
~50% money back guarantee!
If we cant get a successful loan modification we will proceed with buying your home!
Wanna hear more? Rather use our Construction or Property Management Services? Feel free to explore our website and Let Us Know How we Can Help... Call Today>> Talk to Cody - 409-622-3523!