If you’ve found yourself saying, “I can’t sell my house in Raleigh Durham NC,” this article is for you. You may have been trying to sell your house in Raleigh Durham for a while now, maybe you haven’t received any offers, or they were low-ball. All is not lost, you still have a few options at your disposal to help you sell your house for a fair price.
If you haven’t received any offers you should consider Lowering the asking price.
Everybody wants to sell their house for more than they paid for it, unfortunately, what you paid for it, or what you owe on your mortgage, does not reflect current market conditions, or what a buyer is willing to pay.
What are my options if I can’t sell my house in Raleigh Durham?
Here are some other things you can try when you can’t sell your house in Raleigh Durham:
1) Take It Off the Market
You may be trying to sell your home at a bad time, such as the holiday season (November/December), there are a lot of distress sales (foreclosures) in your area, or there is a lot of competition from new home builders.
If this is the case, try taking your home off the market for a few months – if you can afford to keep paying the mortgage – and wait until market conditions improve.
2) Sell With a Lease
A great option is to find a quality renter for your home, allowing you to pay your mortgage out of the rent proceeds. This will pay down your principal balance and give you a tax credit for your mortgage interest while you wait for market conditions to improve. This was a common method during the late 2000’s.
One caveat is that landlord-tenant laws apply, so consider getting a good property manager to handle things for you.
4) Sell Direct To a Professional Home Buyer
Selling your home directly to a company that buys houses for cash is a great way to get your house sold and your mortgage paid off. These companies can pay cash for the home, eliminating the need to wait for a bank to approve a loan, will buy the home as-is, and can pay all closing costs. Many can close within a week of going under contract.
If you have a home in Raleigh NC that you need to sell you can contact us directly to get an all cash offer. We buy houses in Durham NC for cash, so don’t hesitate to contact us if you have property anywhere in the Triangle.
5) Offer a “Rent to Own” Option
A rent to own option is when you agree to lease your home for a given rent amount each month while selling the exclusive right to buy the property, at a given price, over a specific period of time, so the home cannot be sold to someone else during that period.
This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line.
At Otranto Real Estate Co – Mike Buys Houses we offer this as a consulting service to homeowners who are unable to sell their home because of a large mortgage. We were able to find a buyer for a great home in Knightdale NC in just a couple of weeks using this method.