Problems Selling Because your Charlotte house has No Equity?
The "low equity" situation is the most common we run across in
Charlotte. Builders were building like crazy in a lot of Charlotte outer
city neighborhoods due to the increase of population. Most of the newer
neighborhoods less than 5 years old are decreasing in values due to
adjustable rate mortgages and the increase in the unemployment rate in
the area.
All of this has caused some homes to go in foreclosure which lowers
the value in your neighborhood. Not only in Charlotte but around the
country as well.
What's equally worst is trying to sale a house that you haven't owned
more than 5 years. That's about how long it takes for a house to
appreciate enough to break even when selling your house. If you don't
have enough equity you can wind up digging deep to pay someone to buy
your house.
In those cases, most homeowners try to sell their home "for sale by
owner" without any luck. The next step is to list it through an agent.
In order to cover the agent's commissions and additional closing costs,
they have to increase the price. This is a huge mistake to find value
that isn't there. Listing your house for higher than market value will
surely not bring in any buyers, causing you to lose more time.
Since the price was increased, the likelihood of selling is reduced.
Even if it does sell, what little equity you have is eaten away by the
commission and closing costs.
Some real estate agents may even refuse
to list your house because there isn't enough equity to pay their
commissions!
You don't have to give away your
equity to a real estate agent, no matter how small it is!
We purchase homes with little equity and in many cases are able to
return much of that hard earned equity to the homeowner who deserves it
the most. Charlotte is a very competitive market and if your house
doesn't have the edge, it will sit for months.
Another thing you won't have to worry about is paying a mortgage
payment on a house you don't want. We will take this burden off your
hands.
You can call us at (704) 953-6366 or fill in the offer form.
