If you have found yourself saying, “I can’t sell my house in San Antonio Texas,” then this article is for you. Maybe you’ve been attempting to sell your San Antonio home for some time now and have not got any offers, don’t panic! You still have a few options at your disposal that will assist you with selling your house for a fair price.
You’ve probably tried the first one at least one time: Lowering the asking price.
Everybody wants to sell their home for more than they paid for it but if home prices in your area are low, the economy’s not doing well, or your house has some kind of structural or locational issue, you may need to reduce your asking price.
What are my options if I can’t sell my house in San Antonio?
Here are 5 other things you may try when you cannot sell your house San Antonio:
1) Take It Off the Market
You might be trying to sell your house at a bad time, such as when there are a lot of other homes just like yours on the market, during winter, or even during the holidays.
If this really is the situation, you may be best served by simply taking your house off the market for a few months — if you can manage to continue paying the mortgage — and wait until market conditions get better.
2) Take Out a Second Mortgage
If you have built a lot of equity in your house, you may want to take a home equity loan if you can afford to pay the higher monthly payment, that is. If not, you may have the ability to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower rate of interest. The loan can be used to pay for other things, such as real estate investments.
3) Rent Out Your Home
If you cannot sell your house and do not wish to hold two mortgages (your previous house and your new residence) one option is to rent out your house at or near the price of your monthly payment. Which permits you to apply the rent to your mortgage without having to incur any extra cost — other than upkeep, maintenance and repairs.
4) Consider a Short Sale
If you find yourself saying “I can’t sell my house in San Antonio because I owe too much!” This sometimes happens if you purchased your house within the past few years and now owe more than the house is worth (known as being upside down).
In some cases, you can negotiate with your creditor to take less than what you owe on your mortgage. If it looks like the other option is foreclosure, then your lender will likely accept a short sale.
To do this, you’ll need to get a buyer on board that can close quickly. Fortunately, we can! Give us a call today at 210-794-6869 to get a no-hassle offer on your house.
Keep In mind, however, that a short sale can affect your credit score. Redeeming a pre-foreclosure on your credit history may disqualify you from obtaining another mortgage, at least for a while.
5) Offer a “Lease to Own” Option
A lease to own option is when you rent your house to somebody with the option to buy your home at or before the lease expires. This is a good option if you cannot find qualified buyers because you can collect rent and a lease option fee from a renter while giving them a while to save for a down payment and establish their credit so they can find a mortgage to buy your house down the line.
You also can add a lease premium to their monthly rent that can either be applied to the down payment later on or — if they don’t end up exercising their option to purchase your house — you can keep it as income.
I Can’t Sell My House in San Antonio Texas!
If you’re interested in learning more about your options for selling your house in San Antonio Texas, call us at 210-794-6869 or complete the form on this page to get more information sent to you right away.