Are you moving abroad anytime soon and would want to sell your house fast in Fort Bend? Or are you tired of dealing with problem tenants that you would rather sell your property quickly? Or perhaps, you are in need of cash or having difficulty paying your mortgage and would want to seek help from someone who can buy your property spot cash? If you are in any of these situations, then this article is for you.
Buy Houses For Cash in Fort Bend
Selling a house quickly can at times be difficult. It can take months or even years to find a buyer who can decide immediately and pay cash quickly. All you actually need is one single buyer, yet he can be so difficult to find. But there are ways that you, as a seller, can actually do that can help you sell your house fast in Fort Bend:
1. Understand the prevailing market so that you can ask for the correct price. Compare your property with similar properties around. If you want to quickly sell a house that has 3 bedrooms, with a certain lot area and a living area, then check out the prices for properties in your neighborhood that has more or less the same specifications.
2. Offer it below the going price of the market. This option is to make your house more attractive than the other houses for sale in Fort Bend. You sacrifice a certain amount off the price, but you will be able to shorten the time you need to sell your house. Just consider it as payment for the rush service, like when you pay an extra charge for the rush processing of your some paperwork.
3. Avoid being emotionally attached to the property so that you can sell your house fast without the drama.
4. Lastly, get in touch with real estate investors in Fort Bend who are also looking for real estate properties for sale. They will be more than glad to help you sell your house fast.
22 DIY Ways to Update Your Home on a Small Budget
Are you looking for ways to sell your house fast? The first thought that comes into most people's mind is to call a real estate agent and list their house for sale. While it may be a good option if you have enough equity in the house and have plenty of time to wait for somebody to buy your property, you might be at the point where you know all you have to do something else.
Selling your house with the help of a real estate agent in a slow economy could mean months of it sitting on the market while you are continuing to make payments. A viable alternative is to work with a local real estate investment company who can often provide you with several options of selling your property.
Here are some options that you might consider.
Option one: sell your house for quick cash.
Many real estate investment companies work with private funding which allows them to buy your property quickly. They do not have to go and get approval for a loan and wait for some bank to decide whether they can qualify. There is no lengthy underwriting process. They can often buy a property within just a few days of you contacting them. Many times, they will do a quick inspection of your house, do some research on the numbers and make you an offer quickly.
Most of the time, when you are looking to get all cash, you will have to settle on a lower purchase price. This is understandable, considering that the cash investors are putting up hundreds of thousands of dollars of cold hard cash and they need to get a decent return on their investment. They have many choices on what to do with their money. If you need to sell your house fast, your property needs to be a worthwhile case to them to invest money into.
Option two: sell your house on terms.
If you are willing to look at creative ways that an investment company can offer you, you can often get a higher total sales price for your house. One of those creative ways is to sell your house by owner financing it to the investment company. Many times, this will allow you to sell your house extremely fast, possibly even within couple days of the first contact.
If the real estate investment company does not have to put up all cash, they can offer you a lot better terms because they do not have to abide by the criteria of their private investors. They can get very creative in structuring the deal to make sure it's a win-win for everybody.
Option three: lease option your house to the investment company.
This method will usually work only if your house is in great shape. Most investors will not put funds into repairing a property that they don't own. However, if your house does not need any repairs or maintenance, a lease option to an investor could be a great way to sell your house fast. Just like with selling your house on terms, many times you can have the whole transaction finished in a few days.
While you might consider lease optioning your house to the actual occupant instead of investor, you need to be prepared for what that choice would entail.
When you lease option a house to a person who is going to live there, you are, in fact, becoming a landlord. While some people don't mind dealing with "tenants and toilets," you need to consider whether you really want to be a landlord and be on call 24 hours a day to deal with your tenant-buyer (not to mention issues like collecting late rent, maintenance, evictions and etc.) A real estate investment company will already have all the practices set up to be an effective landlord and deal with all related issues.
Another issue to consider is how fast you can sell the house. When you sell your house through lease option to an investor, the transaction can be finished in a few days. However, if you decide to do it yourself, it can still take weeks or months to find a qualified tenant-buyer. During that time, you have to spend time and money marketing your house, showing it, and screening prospective buyers. It is up to you to decide whether you can delay selling your house for a while.
Get Your Cash Today when You Sell your House
One need to be careful when selling an inherited property. If you take title to a house as a gift or inheritance, you may have to pay capital gains tax when you sell it. There are several options for avoiding the tax.
Living in the House
Moving into the house is one way to avoid capital gains. Tax law exempts $250,000 on the sale of your personal home, or $500,000 if you're married and file jointly. You must own the house for two of the five years before you sell and live in it for two of the five years.
Under Section 1031 of the tax code, there's no capital gains on the sale of a rental or investment property if you exchange it for a comparable property within six months.
Example: Your father gifts you a rental property. You sell it and buy another rental of equal value, avoiding capital gains tax until you sell the second house.
The 1031 rules are complicated — just buying a replacement house won't cut it; it must be a business or investment property — so you may need professional help.
Timing the Sale
If you sell an inherited house right after you take title, the sale price will probably be close to your basis. In that case, you'll have little or no capital gains to report. With a gift house, where you assume the donor's adjusted basis, this only works if the fair market value is close to the basis.
If you have more than one capital gains transaction in the same year, you can subtract any losses from the gains. For example, if you sell your gift house for a $20,000 gain but sell another house at a $25,000 loss, you can wipe out your taxable gain.
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