If you’ve found yourself saying, “I can’t sell my house in North Richland Hills” this article is for you. Maybe you’ve been trying to sell your house in North Richland Hills for a while now and haven’t received any offers. Don’t panic! You still have a few options at your disposal to help you sell your house for a fair price. Also, know that you can take heart in knowing the population in Texas is growing rapidly. People and businesses are moving to the lone star state in droves. They are moving here for better jobs, a low cost of living, as well as zero state income tax. With so many people moving to Texas right now, your chances of selling your home are on the rise. We hope one of these suggestions will be helpful to your situation.
Perhaps you’ve already tried the first one at least once: Lowering the asking price. Everybody wants to sell their house for more than they paid for it but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problem, you may have to reduce your asking price.
What are my options if I can’t sell my house in North Richland Hills?
Here are SIX other things you can try when you can’t sell your house in North Richland Hills:
1) Take It Off the Market
You may be trying to sell your home at a bad time, such was when there are a lot of other houses just like yours on the market, during the winter months, or during the holidays.
If this is the case, you might be best served by 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.
If you priced the property a bit too high originally it might be best to take it off the market for awhile and then list it again closer to market value. The longer it sits on the market without activity the more the perception will be that there may be something wrong with the property.
So, if possible, consider taking it off the market for a few months and listing it again closer to market value in the best time of year to sell: spring or summer.
While you’re taking a break from selling go ahead and make any obvious necessary repairs, fix any issues that potential buyers may have mentioned such as lighting or cosmetic flaws such as updating the carpet, paint or fixtures. Declutter a bit more and reconsider your staging, curb appeal and marketing strategy,
We want to go ahead and mention here that If you would like to discuss the particular situation of the property you’re selling we at Texas Best Homebuyers would be more that happy to listen and to give you our take on it. Call us at 817-808-4911. Even if your house has some “problems” we’d be happy to talk with you about it because we are really good at solving real estate problems. We will be happy to list your property for you if that is what you prefer, and we’d be happy to discuss creative solutions if your situation is unique. Let us know if we can be of service!
2) Take Out a Second Mortgage
If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things, including real estate investments.
3) Rent Out Your Home
If you can’t sell your home and don’t want to hold two mortgages (your old home and your new home) one option may be to rent out your home at or near the price of your monthly mortgage payment. That allows you to apply the rent to your mortgage without having to incur any additional expense – other than upkeep, maintenance and repairs. Even if the rental income is slightly less than the mortgage payment at least you would be getting some income to help with the situation. If your HOA allows you to rent short term perhaps you could try doing short term rentals like Airbnb.
Another advantage to renting your home is if the house is empty for a long time it could fall into disrepair which could end up costing you more money.
4) Consider a Short Sale
“I can’t sell my house in Fort Worth because I owe too much!” This can happen if you purchased your home within the past few years and currently owe more than the home is worth (called being upside down).
In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like the other option is foreclosure, your lender probably will accept a short sale.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (817) 808-4911 for a no-hassle offer on your house.
Keep in mind, however, that short sales can affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.
5) Offer a “Lease to Own” Option
A lease to own option is when you rent your house to somebody with the option to purchase your home at or before the lease expires. 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.
You also can add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to buy your home – you can keep it as income.
6) Consider Dropping Below Market Value
As a last resort perhaps you could drop the price below market value. Any property will sell if it is perceived as a good deal. You might even be able to draw in multiple offers and take advantage of the best one.
I Can’t Sell My House in Fort Worth TX!
If you are interested in learning more about your options for selling your home in North Richland Hills, Texas or surrounding areas call us at 817-808-4911 or fill out the form on this page to get more information sent to you right away. At Texas Best Homebuyers we have more than 25 years experience in this business and we’d be happy to discuss your situation with you and see if there are any other creative options that might help.