If you’ve found yourself saying, “I can’t sell my Bonaire house,” this article is for you. Maybe you’ve been trying to sell your house for a while now and haven’t received any offers, don’t panic! You still have a few options at your disposal to help you sell your house for a fair price.
Lowering the Asking Price
This is probably the first solution you’ve tried. Just like any other product, market price for Bonaire houses climbs and falls every week. If the economy isn’t performing well or your house has structural or locational issues, you may need to reduce your asking price. Ask a real estate professional to do a market analysis on your house.
Taking Out a Second Mortgage
Why are you selling your house? Is it to cash in on the equity? If you have built equity in the house you can’t sell, you may want to take out a home equity loan or equity line of credit. Renegotiating a loan plan with your lender to reduce your payments can be a good option too. This can provide you with additional funds to help your budget or start real estate investing.
Consider a Short Sale
If you owe more on your mortgage than your home is worth, a short sale could be a solution. This requires the bank to agree to the short sale. The bank will many times require the house be listed with a qualified real estate agent for some time before they will agree. If they agree, the house can be sold for less than what is owed and the bank will have to agree to the sales price.
In this case, you would need to find an experienced house buyer who understands the short sale process and negotiate with your lender to accept less than what you owe. Keep in mind that short sales can impact your credit. If not negotiated properly, the bank could also try to file a judgment for the unpaid balance.
Sell My House in Bonaire to a home buyer
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- 6 reasons to sell your house rent-to-own
- How to sell my upside down house