My husband and I have decided that we need to sell ASAP but we aren't sure where to start. Our house has tons of deferred maintenance and the carpet is awful b/c of pets and kids. It smells, it isn't spic and span and it is out of date. We owe about 110K, the tax district appraisal is 142K and similar homes in the neighborhood are selling for 150-200K.

Because of several different issues, I cannot see us being able to do repairs/fix ups. We don't have the free time and we don't have the money. I called homevestors but have not had a response in a weeks time. I guess I need to start calling agents but, #1 I'm embarrased to have people come into the house and #2 I don't know whether to look for a hotshot top seller or someone young and hungry who is desperate for the sale.

Any ideas?

Maybe this guy can help?

http://www.montelongohousebuyers.com/index.html

What kind of flooring is underneath the carpet? You might do better getting rid of it.

I'd get whatever cleaning and fixing you can do out of the way, and THEN call several realtors for interviews. Find out how they will market the house, AND how often you should expect to hear from him/her.

Get rid of clutter, and keep your home spotless while it is on the market. No one wants to buy someone else's mess...

Good luck!

If the investor pays cash you cut out the closing costs,agent commissions,and just have attorneys fees the buyer has to pay.

There are no appraisal or finanacing issues either when they pay cash.

Get an agent in there to determine repairs.Based on you owing 110k this would most likely be a subpar deal to a flip investor.

Investors run a business and go after the best percieved deals first.

good luck and no legal advice

Do an internet search for some good, local Realtors and interview a couple. By good, I mean someone who sells fifty plus homes per year in YOUR area, is knowledgable and advertises. These agents will walk you the process and should have investor buyers that could purchase the home. Select the one that you feel most compfortable. Do not select an agent based on the commission they charge or the price that they suggest.

Are you needing to cash out or are you just trying to avoid foreclosure? I only ask because flippers aren't the only investors. Many of us will help out by working out a transaction that takes the burden of your payments off your hands and later giving you a reasonable current market price for your home. Although I don't handle Texas real estate investments at this time, I'm certain there are plenty of local American REIA members in your area that can work out the details for you. If the repairs are not major repairs, and the home can be made rentable fairly quickly, I'm sure someone there can help you resolve your issues very quickly.

If you would like more information about some of the methods that would make this work for you, send me an email and I'll be happy to give your some ideas off-line.

Bud

How much would new paint and carpets cost? What other expenses would you have to make the property more marketable? Could you get an equity loan or locate a private investor (usually they advertised in your local newspaper) to front the money which will pay for the repairs to make your home marketable?

We are not in foreclosure but we are in arrears on property taxes because of a subprime lender that does not escrow. Our mortgage payments are current. We just need to make a change and need to be able to cash out to do it. We cannot move or pay off any debt if we can't get any equity out of this house.

I'm really frustrated because we started trying to clean up the outside by pressure washing the front steps and found crumbling concrete under a cracking veneer. The previous owners obviously knew that there were foundation problems and did a cosmetic cover-up to hide the crumbling front stairs. I'm guessing it's too late for us to think about legal recourse but I'm not sure where that leaves us. Take the hit on a house with serious problems or do a cosmetic repair and hide it?

Carefull on the back taxes,your home could be sold to satisfy the tax debt.You need to go to your local property tax office to get a pamplet on how property taxes are handled in your area.

NO I wouldn't cover something up that's concealment and fraud.Disclose it on your sellers disclosure form and let the buyer decide what they want to do.You don't want to get sued later for concealment and non-disclosure of an adverse material fact.

no legal advice

You need more information to make a good decision. Invite 3 to 5 agents to view your home. Ask for a price opinion as-is, and also if it were fixed up. Get an idea of how long it might take to sell as-is or if fixed up. Get some work estimates to find out how much it would cost to fix the place up.

Get several estimates and opinions.

You need to advise with a good realtor. I think regarding the TX law you can file a complain with TRAC 5 years after the transaction were closed. Do not hide, it could put you in a big trouble.

Put an Ad like this on Craigslist.org..

Headline:.... Fixxer-upper 40% Below Market. Take Over Payments.
House needs work but owner can't afford to fix it. All I need is $5,000 cash to move and you can take over my payments and do the fix up for immediate profit. Mortgage balance is $110,000 and market value after fix-up is $185,000. Call me to verify the numbers and check out the property. Call XXX-XXX-XXXXX

There is nothing that price won't take care of. If your house is next to a leaking nuclear power plant, if the price is right it will sell. Unfortunately, and I'm not being cruel, what you need to get out of the house is irrelevant.

Exactly. Price is everything. I could sell straw shack on top of a dung heap next to the airport for the right price.

Yes price is important and it is part of the marketing, but marketing is not part of the price. I have seen a lot of well priced houses expired because they are not marketed properly. However I completely disagree that price is everything.

Bad call. Not even Realtors. Investor who will make a buck any way he can. Do we really want this poster treated the way this guy treats the people on the show? And the show are scripted, so he could have easily had himself portrayed in a good light. His brother doesn't even seem to be affiated with him anymore.

It is tax time. Hopefully you can get a refund back to pay off the back taxes and make current.

Have the kids start helping out with chores. Put the pets outside to get rid of the odor.

We as Realtors have such busy schedules, sometimes we neglect the things we need to do to our own homes. You have to make the time.

Most agents will take any listings that come their way as long as it's priced accordingly. If you're asking an unrealistic price for the home, you might be hard pressed to find someone who will sell your house.

from what i read, Bud made the most sense. if your house needs repairs, you might need to consider owner financing and find a place to rent until you are able to get your financials in order.

sometimes we all have to do things we don't want to do in order to get where we want to go. some options may suck but you don't have too many to choose from and selling through an agent means only buyers with A credit are walking through your house and they will low ball just like investors.

i vote owner financing/lease option.

Since this thread is 9 months old I would think they have already solved their problem.

you'd be surprise, i have sellers contacting me all the time saying their property hasn't sold after one year of marketing it. The price was right an all they just couldn't get it sold. now thats not regular but you do have exceptions.