If you’ve found yourself saying, “I can’t sell my house in Fresno CA,” don’t worry, you’re not alone. Perhaps you’ve been trying to sell your Fresno property for quite some time now and have yet to receive any offers. However, there are a few options at your disposal to help you sell your house for a fair price.
Here are five things you can try when you can’t sell your house in Fresno :
What are my options if I can’t sell my house in Fresno ?
1) Take It Down From The Market
If you’re trying to sell your home during a bad time, such as when there are a lot of other similar homes on the market, during the winter months, or during the holidays, you may be better served by taking your home off the market for a few months. If you can afford to keep paying the mortgage, wait until market conditions improve. The market ebbs and flows and will have its good times and bad times. Learn to maximize your efforts by selling during the best time of year.
2) Take Out a Second Mortgage
If you have accumulated a substantial amount of equity in your home, it may be worth considering taking out a home equity loan, assuming you can manage the higher monthly payment. If that isn’t an option, you might explore renegotiating a loan modification plan with your lender or converting your adjustable-rate mortgage to a fixed-rate mortgage that boasts a lower interest rate. This loan can be utilized for various purposes, including funding real estate investments.
3) Rent Out Your House
If you find yourself unable to sell your home and wish to avoid paying two mortgages (one for your old home and one for your new home), you might want to think about renting out your home at a rate that is comparable to your monthly mortgage payment. This way, you can utilize the rent to pay off your mortgage, without having to worry about additional expenses, apart from the regular maintenance, repairs, and upkeep costs.
4) Think About Doing A Shortsale
If you’re in a situation where you’re thinking “I can’t sell my house in Fresno because I owe too much!” due to having bought your home in the past few years and the current value being lower than what you owe (known as being upside down), don’t worry, there are still options available to you.
In some circumstances, you may be able to negotiate with your lender to accept less than the outstanding amount on your mortgage. If foreclosure seems to be the only alternative, your lender may agree to a short sale. However, keep in mind that this may affect your credit score. Having a pre-foreclosure redemption on your credit history could prevent you from obtaining another mortgage in the short term.
Fortunately, we can help you with a quick and hassle-free offer on your property. To get started, give us a call today at (559) 379-5416.
5) Offer a “Rent to Own” Option
Consider a lease-to-own option where you rent your home to a tenant with the option to purchase it before the lease ends. This alternative is ideal if you are having difficulty finding eligible buyers because you can receive rent and a lease option fee from the tenant while providing them with time to save for a down payment and enhance their credit score so that they can obtain a mortgage to purchase your home later.
Moreover, you can attach a lease premium to their monthly rent, which can be used for the down payment later. Alternatively, you can retain it as income if they decide not to purchase your home.
I Can’t Sell My House in Fresno California!
If you are interested in learning more your options for selling your home in Fresno CA, call us at (559) 379-5416 or fill out the form on this page to get more information sent to you right away.