Little or No Equity in your Austin Home?

The "low equity" situation is one of the most common situation we run across in Austin. In most cases, the homeowner has tried to sell their home "for sale by owner" without any luck. The next step is to list it through an agent. In order to cover the agent's commissions and additional closing costs, they have to increase the price.

Since the price was increased, the likelihood of selling is reduced. Even if it does sell, what little equity in your Austin home you have is eaten away by the commission and closing costs. Some real estate agents may even refuse to list your house because there isn't enough equity to pay their commissions!

You don't have to give away your equity to a real estate agent, no matter how small it is!

Your Austin house can bought with little equity and in many cases the hard earned equity is returned to the homeowner who deserves it the most.

Another thing you won't have to worry about is paying a mortgage payment on a house you don't want.

We can help you lift this burden off your hands.

This article is not discourage the use of realtors. But if you have little or no equity in your Austin home, selling with an agent is nearly impossible. All is not lost, there are a few options left to get your house sold.

1. Contact a local reputable real estate investor. Most investors can purchase you house very quickly. The two most common ways investors purchase are

   1. Takeover payments - An investor or any buyer, such as a neighbor, friend or family member can begin to pay the mortgage and take ownership of the hopme.

   2. Cash offer - When offering cash most investors will need a substantial discount on the purchase price, usually 65-70% of the retail value.




2. Lease/Rent to own - offer your house as a lease with an option to buy in near future. In Austin housing market there are many potential buyers with down payments that either cant' qaulify or don't want a traditional mortgage. Therefore they will rent a home but still would like the benefits of homeownership. If you are in situation where you can hold onto your house for sometime this could be a good option. In most lease-options purchases a buyer will put down $5-10k as a down payment. This can equate to instant cash for you. Also, it is possible that you get additional few hundred dollars a month on top of paying your underlining mortgage.