Moratoriums Ending – Time To Sell Rental Property?
Is it time to sell rental property now that moratoriums on eviction are ending? Put in place during the first year of the Covid19 pandemic, hundreds of thousands of tenants are in a dire situation as their past rent comes due. They may have been living rent free for more than a year because their landlord could not evict them legally.
While it’s a terrible situation for tenants, it is also a disaster for many landlords. Real estate investors with mortgage payments on their residential properties have been forced to deplete their savings or to borrow against the equity in their properties to make their mortgage payments.
When Congress passed a $2 trillion dollar stimulus package it was intended to help renters stay in their homes. But it had no provisions for helping the rental property owners with mortgage payments, property taxes and maintenance expenses. It was good for tenants who could not afford to pay their rent during Covid19 lockdowns, but it has become a double-edged sword that’s turning against them now.
Thousands of landords all over the country are downloading eviction forms and filing them with their county court clerks to collect back rent or evict their tenants.
Sell To We Pay Fast For Quick Cash
The experienced, professional real estate investors at We Pay Fast are buying rental property from landlords who simply want to end their frustrating back rent collection efforts now Most landlords do not want to evict their tenants. Selling to We Pay Fast within 10 days to two weeks from signing a purchase agreement with them could be an ideal solution.
We Pay Fast investors pay all the closing costs of each transaction, so the sale price you negotiate with them is the amount you receive at closing, minus any outstanding mortgage balance. Call 1-800-WePayFast (1-800-937-2932) or email info@wepayfast.com to speak to a We Pay Fast investor if it’s time to sell a rental property now that eviction moratoriums are ending.