Can I Sell My House With Negative Equity?
Can I sell my house with negative equity? That means I owe more than the house is worth on the local real estate market. I am learning that the answer is dependent on the homebuyer. A traditional homebuyer who makes an offer with the help of a real estate agent is not likely to work out too well for me.
The value of any home is partially determined by its condition. If an appraiser is looking at a house, let’s take my house for example, they are going to make note of things that need to be repaired, and deduct the cost of those things from their evaluation. My house needs a new roof, which is a big expense. So, an appraiser will deduct the cost of a new roof from the value of my home before providing the appraisal to new buyers and their mortgage lender.
The cost of a new roof is what will drive down an appraisal value and cause my house to have negative equity right now. Can I still sell my house fast for cash?
We Pay Fast Buys Homes With Negative Equity
Fortunately, the experienced homebuyers at We Pay Fast often speak to sellers who have negative equity situations for a variety of reasons. They are not like traditional buyers who must apply for a mortgage. We Pay Fast can pay cash and close fast.
Calling 1-800-WePayFast (1-800-937-2932) or emailing info@wepayfast.com connects me to We Pay Fast, and I will receive a phone call back within 24 hours when I leave a voice mail or send an email. The contact form on wepayfast.com works that way, too.
We Pay Fast provides all the sale documents for signature by email when the investor and I reach an agreement on the phone. And closing can be scheduled in as little as a week to ten days from our signatures on those documents. I can sell my house with negative equity to We Pay Fast, and it can close fast, with We Pay Fast paying all the closing costs. Call 1-800-WePayFast (1-800-937-2932) or email info@wepayfast.com