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Do you need to sell your house fast to Relocate?

For many home owners, divorce, family health issues, military deployment or job transfer may lead you to have to relocate or move out of state completely. When you need to move quickly, the idea of selling your house fastcan feel daunting and overwhelming.

In a perfect world, most of us prefer to sell our current house prior to moving. It can be difficult to gauge how long it will take a house to sell in any given market. Paying for housing in two states is a financial burden and managing the sale of your current house at a distance is a headache.

We can help you no matter your situation or reason for selling and get you cash in your hand fast.

Why you should consider selling your house when you have to relocate.

Expensive Relocation Costs.

The primary reason to sell a house while you’re relocating [particularly if you to sell and buy another house in a different state] is the financial side of the process.

As we all know, buying a house is not cheap. You may be moving into a market where you need to make a cash offer to be competitive. In that case, most of us need to sell the equity in the house we live in to buy our next home. Even if you’re in a market where an offer with a mortgage is fine, you’ll still need to afford a down-payment and may need to tap the equity in your current property for that down-payment.

Let’s not forget – when you’re moving to a new state – there can be some tough money situations. You may not have a job lined-up and in a period of limited income. There are moving and relocation costs, costs to furnish your new place. Buying house in another state without a job will require savings.

Even if your plan is to rent in your new state, you likely have to come up with security deposit and first months’ rent.

Double Ownership Payments.

Owning one house can burn a hole in your pocket . . . imagine owning two?

There a lot of costs of ownership. You have ongoing taxes, utilities, maintenance, mortgages and debts, and insurance. It can cost thousands of dollars to be a homeowner every month and those monthly payments aren’t going anywhere. If you move and don’t have the sale of your old house completed, those costs are going to keep ticking away every month. This is particularly expensive if you have a mortgage on the house that you’re moving from.

So think about it.

You move to this new state, you’ve got a new house, you going to have all the costs of home ownership or renting in the new state, and then you still have the cost of the mortgage on your old house, right?

Once you factor it all in, most of us can’t really afford to keep the cost of living up in two different states.

Risks With Vacant Properties.

Is your house going to be vacant if you sell it and relocate to another state?

You could get stuck with a vacant house without careful planning. Owning a vacant house – particularly if you moved to a different state – raises some very serious concerns. Empty houses are susceptible to a lot of bad outcomes.

What happens if there is an unanticipated problem at the house? Pipes burst, roofs leak, pests break in, electrical problems, weather events can damage windows or sheds in the backyard. You could have a friend, family member, or property manager check in periodically, but if a pipe breaks, water is going to be pouring in and that’s just going to keep going until someone stumbles by and notices something.

Unforeseen disasters at a house are part of life. If no one is around, they can spiral from a little to big problem.

Squatters can be an issue depending on your climate.  If you take your eye off the property a few months, there’s a good chance you will end up needing to go through the eviction process.

Another risk is thefts at the house – particularly if you were not able to move all your belongs out when you relocated to another state. Vacant houses are easy targets. Although it’s obvious to take expensive personal items, people often take central AC, windows, and copper wiring. Vandalism is an additional concern. At a minimum, you should install a security system to notify you of any new problems.

Other ways to keep the home

Selling a house while moving to another state isn’t always possible.

One reason it might not be possible is that you don’t have equity in the house yet. Perhaps the amount you owe is making it difficult to sell and get enough sale proceeds to afford all the costs of the move. Maybe it’s a neighborhood that doesn’t sell well, or the house needs considerable amount of work that only a small pool of buyers can handle.

If your house needs some work before selling, consider selling  “as-is”. The advantage here is to save the frustration of renovations, the money spend on the repairs, and close at a faster date. ?

What are your options if you’ve got to get out of the state, and you can’t sell?

Keep It As A Rental.

The most obvious option here is to use the property as a rental property.

Rental property has some great upsides. You can use the property as a rental and hold them with tenants. If the investment works out, you will get a monthly payment each month.

Remember: your old home has now transformed to an investment property. You will need careful planning to ensure the rental goes well (you don’t want to lose money every month due to bad planning or decisionmaking). There’s a few steps to this.

Figure Out The “Cash Flow”.

Is the house your relocating from in a rural area?

Is the population small?

Not too many nearby real estate professionals?

If you answered YES to any of those question, you probably don’t have the local support to keep the house as a rental.

Search online for local property managers. A property manager is critical if you live remotely. Property managers find tenants, collect rent, and oversee maintenance. Typically, they charge you a small percentage of the rent.

Call about 5 or 6 companies and ask if they provide services locally. You may learn right away that property managers don’t work in the area. Keeping the house as a rental without a local property manager is doomed from the start if you have relocated out of the state.

There are some drawbacks to holding a rental. You could make mistakes or mismanage if you’re not an expected landlord [and lose money on a monthly basis]. Another problem could be if you’re in a declining market. Areas with low economic and population growth could spell a big loss of the value of your house. Rentals are much better long term investments in areas of appreciation or at least stable prices.

Search For Local Property Managers.

Is the house your relocating from in a rural area?

Is the population small?

Not too many nearby real estate professionals?

If you answered YES to any of those question, you probably don’t have the local support to keep the house as a rental.

Search online for local property managers. A property manager is critical if you live remotely. Property managers find tenants, collect rent, and oversee maintenance. Typically, they charge you a small percentage of the rent.

Call about 5 or 6 companies and ask if they provide services locally. You may learn right away that property managers don’t work in the area. Keeping the house as a rental without a local property manager is doomed from the start if you have relocated out of the state.

There are some drawbacks to holding a rental. You could make mistakes or mismanage if you’re not an expected landlord [and lose money on a monthly basis]. Another problem could be if you’re in a declining market. Areas with low economic and population growth could spell a big loss of the value of your house. Rentals are much better long term investments in areas of appreciation or at least stable prices.

Be careful about installing a tenant if you intend to sell in the future. The house will not be very attractive to new owners if the tenant makes it impossible for home buyers to move in.

Keep It As a Vacation Home.

Another strategy if you can’t sell a house while your moving to a new state is to keep the house as a vacation home.

A vacation home makes sense if you still have friends and family in the area. You can take trip backs regularly without the costs of a hotel. You’re friends/family may also be able to have a use for it.

Keeping a vacation home doesn’t mean you have to rule out renting. You could rent it in the summers in beach areas, or in the winters for skiing areas. Just don’t sign a 12 month lease if you want to keep open your vacation options.

Why sell your house to We Buy Homes Near You?

We have worked with many clients facing many different situations that required them to sell their home to move, and we know that some sellers find themselves in unique circumstances where the situation is a bit more difficult. We’re professional and adaptable, and can handle even the toughest of situations.

Does this sound like your situation?

  • You have a family members that’s in poor medical condition and you need to sell their home to move them into assisted living or pay for medical expenses.

  • You’ve recently divorced from your ex and need to sell the house and get back to your home state to be with family.

  • You’re tired of how expensive it’s gotten to live in California and want to move back to your home state or country.

  • You already own a home somewhere else and this one is just holding you back.

  • The home is too big for you and you just want to downsize into something more convenient for you.

What can you expect selling your foreclosure house to us?

  • We’ll never ask you to repair your house. We know that people experiencing health issues and people past retirement age are living on fixed incomes that don’t allow for costly repairs.

  • You don’t have to clean the house. Just pack up what you want to take and leave the rest behind. We’ll have it all hauled away.

  • We can get you your money in seven days. You don’t have to wait for fees to be taken out, because there are never any fees for working with us.

  • You can stay in your house if you need more time to settle moving arrangements.

Sell Today and Move on with Life Tomorrow

We’ll buy your house directly, so there’s no reason to go through the lengthy processes required by the traditional housing market. We offer the fastest possible sale. We know that people accumulate a lot of stuff, and they won’t have room for it all after the move.

Just leave what you don’t want, and we can handle it. Don’t worry about repairs or cleaning things up either. All you need to do is take your cash and get back to your life. It’s really that easy.