There are a lot of different reasons in today’s economy that a person may need to sell their home, and quickly. But with the housing market how it has been lately, it’s possible for a house to sit on the lists for weeks on end without any potential buyers – and that’s where quick house sale companies come in. These companies can be a big help in that they will buy your house or property usually within a weeks time, or find another buyer who will buy it quickly, but at a discount from the actual market value. For a lot of people trying to just get rid of property, this kind of service can be a godsend, but it’s important to do your research so that you can be sure to avoid being taken advantage of and losing out.
Benefits of selling to a quick sale company:
You need money, and you need it now. Being able to exchange your property for money in a hurry can be very helpful in a lot of situations.
– Any situation in which a quick move is necessary, such as job loss or emigration.
– Getting rid of property following a divorce or death of a family member.
– Moving as a consequence of age or deteriorating health.
– Handling any sort of financial problem.
Risks of using a quick sale company:
Though there are a lot of potential benefits to using this kind of service, you must be careful and look out for certain risks that may leave you in a rough situation.
– False property valuations from unfair companies.
– Contractual obligations keeping you from selling to other potential buyers.
– Unclear fee structures and excessive fees.
– Last minute price changes.
Using a quick sale company can definitely be the right choice for a lot of people, but remember that there are other ways to sell your property without sacrificing up to 25% of its market value.
Other ways to manage your property:
– Traditional Estate Agents: Local estate agents may be able to work with you to figure out how to list your property at a price that will sell quickly without necessarily losing you as much money as a quick sale company would.
– Mortgage Negotiation: Consider communicating with your lender about changing your method of payment – it’s possible to lower your monthly payments by extending the length of time over which you will pay for it.
Selling your home to pay for long term care?
If the main reason that you’re looking to sell is to pay for a nursing home or similar institution, make sure that you have explored all of your other options to fund your care – a financial adviser can definitely point you in the right direction in this case.
If you decide to go through with using a quick sale company…
Do your research. Know the value of your property, and don’t let the company trick you or confuse you. Don’t be afraid to ask all of the questions you may have, and get others’ opinions. Don’t rush into the decision, and read any and all contracts before you sign them. Play it smart, or you may end up regretting it.