5 Tips for motivated owners.

How long does it take to sell a house

The average time required to sell a property is approximately three months, varying from factors such as the location, which establishments are nearby and the price.

How is the price of a house determined?

It should analyze aspects such as: the location, the surfaces (covered, uncovered and total), the natural lighting and the views it offers houston home buyers, the category of the property and the building where it is located, the services it has, the antiquity of the construction, the value of the expenses, the functionality (internal distribution), the orientation and the competitive offer (that is, the market price of other similar properties

Can you sell a house with a mortgage?

As a direct answer, yes, you can sell a house with a mortgage. The bad news is that there are very few buyers willing to do so.

What to do if I stop paying my mortgage?

  1. Restructure the delinquent balance : On a specific date, agreed with the bank, you pay the entire amount in arrears, as well as the charges and fines. It is convenient when the financial problem is temporary.
  2. Payment plan for delinquent monthly payments: The bank grants you a term to settle the arrears amount, and a part of the amount due must be paid in installments. This solution is only adequate when it has been broken for a few months.
  3. Extension for non-payment : In this alternative the amount of the monthly payment is reduced, or payments are suspended for a period agreed between the bank and you. When the time has expired, you will have to retake the payments and get up-to-date with the losers, either in a single exhibition or in partial payments. It will work if your income temporarily decreased (illness, temporary disability), but will return to your level in the short term.
  4. Total restructuring: An agreement is established between the parties to change the terms of the credit permanently, so that we can pay the monthly payments. It can be a low interest rate, extend the term of the loan or add the amount of monthly arrears to the total loan. The debt will increase significantly.
  5. Sale: Banks do not allow the transfer, so the buyer must pay the credit balance and if something is left over, it will be for you. It is viable when you can no longer pay and you have no idea when your situation will improve. You are between 91 days and one year behind schedule, but at the moment you can not afford the payment.
  6. Ration in payment . You can return the property to the creditor by means of a legal procedure. You need a lawyer. This alternative is only recommended if your delay is over a year and it is impossible to pay the credit as agreed at the beginning.
  7. Negotiate a withdrawal: It is risky because it involves getting a large amount (approximately 70% of the total outstanding balance of the total credit) to try to get the bank to accept it to settle the debt. The bank will evaluate if it is better or better to seize and auction off the property.
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