Now is the time to sell your unwanted house in [market_city] to take advantage of the low-interest rates! Many people have a property that they don’t really want or need. Sometimes they hold on to that unwanted property for years before they finally decide to sell.
The number one thing that will sell an unwanted property is to offer it for sale at an appropriate asking price. Spend some time and research the recent comparable sales in the close area to the property. Make sure to analyze all aspects of the property: what is the square footage, how many bedrooms and bathrooms does it have, the year the property was built, the proximity to shopping plazas, grocery stores, or other points of interest in the neighborhood.
Determine the appropriate asking price by using the most recent sales possible, preferably in the past 6 months. If there are no recent comps in the offer, consider using other properties in the area and subtracting or adding value based on features that your property does or does not have. If you offer the property for sale too far below market, then buyers might believe there is something wrong with the property. If you ask more than you know the property is worth, you may find yourself waiting forever for the property to sell.
Sell to a Home Buyer
If you are in need to sell your house in San Antonio, selling to a professional home buyer might be the option for you. They usually provide cash offers with an extremely quick closing time frame and may or may not require an inspection first. The home buyer will usually have a large network of investors with multiple portfolio types and can easily add your property to it. You can use this quick cash to have your down payment for your next property to take advantage of the low-interest rates.
However you choose to sell there will always be pros and cons, take the time to consider your situation and decide what route is best for you.
Offer Owner Financing
There are many future buyers that are looking for a lending alternative who may not have the best financial history on paper but are honestly trying to improve their situation. Offering owner financing might be a great option to open up your house to more buyers, just make sure to do a background and reference check. Owner financing would also be a great option if you are looking for long-term monthly payments. This would be a great option if you already have the down payment for your new house.
You can use your new monthly payments to pay for another house, your monthly bills, or anything else that you desire.
Find a Property
It is important to do research on your next purchase before jumping into something to take advantage of the low-interest rates. Check out the schools, entertainment, and access to shopping and groceries. Check that the taxes are paid, check the zoning, and verify if the property is in a property owners association, this will cost you over time and eat into your rental profits. Make sure you conduct an inspection of the house you are interested in, most lenders will require this anyway. You want to make sure you pick a house with a good structure, a comfortable floor plan, and some curb appeal.
Find a Mortgage
The mortgage rates are at a low point right now, take advantage of this opportunity! Lower interest rates mean the lenders are more willing to originate loans. Shop around different mortgage companies to find the best rate you can get with your financial situation. Keep your credit score in mind, and contact multiple lenders to see what they can do for you. Choose the lender that has the lowest interest rate with the length of payment and type of loan that works for you and the property you plan on purchasing. Having a pre-approved letter in hand will give you the advantage when making an offer on your new house.