Cash Home Buyers Atlanta: Sell Your House Fast to an Investor Instead of Just Walking Away from a Home Financing Commitment
Cash Home Buyers Atlanta wants to advise homeowners, particularly those who are planning to walk away from their home financing contract, to sell their house fast to an investor instead. There are a number of things that could happen when a homeowner simply walks away from the home and stops the monthly payments. Each of these possibilities have negative consequences for the homeowner in varying degrees. For those who are in the Atlanta metropolitan area and are having problems with their monthly payments and want to sell their house fast, Cash Home Buyers Atlanta suggests that they may be able to help.
One possibility when a person walks away from a home financing commitment is that the lender may sue the person for the difference in the amount that was owed and the foreclosure or short sale amount. This means that if the lender is unable to get the full amount owed when selling the property, they can file a lawsuit against the borrower for the difference.
Another possibility is that the bank or lender may issue a 1099 to the borrower and this would be regarded by the IRS as income for tax purposes. It is recommended that borrowers check with a tax professional regarding this possibility before they simply walk away from their home and their home financing commitment.
The bank or financing institution may also simply foreclose on the home and this will negatively affect a person’s credit rating for up to seven years. But this can be avoided by allowing the house to be rented and then use that monthly payments from the tenant to stay ahead of the home financing monthly payments. The homeowner may then use the time to think of a way to sell the house retail. It is possible to sell the house while the tenant is in there and the buyer will have to honor the lease contract. Evicting the tenant would be considered illegal.
A better alternative compared to the above-mentioned possibilities is to sell the house fast to an investor for cash. Cash home buyers are ready to buy houses with tenants in place. No matter what the challenge the home may present, they are willing to buy the house as long as the property fits their buying criteria. If the investor finds the house to be suitable for investment, the homeowner may be able to get rid of the house in just a few days, while avoiding foreclosure and the other negative consequences mentioned above
Selling the house with the help of a real estate agent may help if the homeowner has found a tenant, which can help with the monthly payments. However, there is the possibility that it would be more difficult to find a buyer if the house is occupied by a tenant. In addition, the home will need to be made presentable to potential buyers. This means that the house will need to be cleaned and some repairs may have to be done. Cleaning and repairing the house will entail some expenses, which could be a burden, especially for a person who is experiencing financial difficulties.
It is also important to note that selling the home through the traditional approach can be very time consuming and will entail a lot of work. But in spite all that, a potential buyer may back out at any time, especially if his or her application for home financing is not approved by the bank. If that happens, the seller would have to go through the process again of finding another potential buyer.
Those who want to want to learn more about how to sell their house fast to an investor may want to visit the Cash Home Buyers Atlanta website, or contact them on the telephone or through email. Fitz Thompson says, “To those who are saying ‘sell my house fast to avoid foreclosure’ we are ready to help. Call us on the phone or simply fill out our online form and we’ll discuss a possible option for you.”
For more information about Cash Home Buyers Atlanta, contact the company here:
Cash Home Buyers Atlanta
Cash Home Buyers Atlanta
2330 Scenic Highway S Ste 501
Snellville, GA 30078