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Category: Blog

Selling a Damaged Property in Michigan

Posted on by Hometown Development

If your home has been damaged in some way, it may be harder to sell without a lot of expensive repairs. Fire damage, water damage, vandalism, or other kinds of damage can cause buyers to turn away when they see all the work involved. If you don’t want to be stuck with a lot of repairs, there are a few ways to sell without putting in all that work.

First, you will need to know how much work needs to be done. For example with fire damage, is the problem mostly from smoke or did the fire compromise the integrity of the structure? With water damage, is there mold and mildew hidden or just cosmetic damage?

Restore the Home to Pre-Damage State

You can fix all the damage before you sell. While this will give you the best price at selling time, it may not cover the costs of repairs. Plus, many sellers don’t have that kind of money or time to spend when they want to sell fast.

List the Home Anyway

You can always list the home as-is and disclose the damage to buyers. It isn’t against the law to sell a damaged house, but it can be quite challenging. You’ll need to find a buyer who can get financing for such a property and someone willing to take on the work. Even in a seller’s market, you might have a hard time finding such a buyer in the traditional market.

Sell As-Is to a Cash House Buyer

On the other hand, cash buyers aren’t afraid of homes with damage. They are experienced at buying properties that come with problems. In this situation, you can sell without worrying about making repairs or trying to find someone willing to take a risk on a damaged property.

Do you want to sell your damaged property fast? Talk to the team at Hometown Development. We are always looking for homes just like yours that need a little extra TLC. We’ll make you a cash offer, so you can sell your property in as little as five days. To find out more, reach out to us online today.  

How to Deal with the Stress of Selling a House

Posted on by Hometown Development

Selling a home can be one of the most stressful situations you’re ever in. You must deal with getting the house ready to sell, live your life around home tours, and wait for offers from buyers. If you host open houses, you will have even more traffic coming through your personal space. While much of this can be inevitable, you must learn how to handle that stress. Here are some tips for dealing with the stress of selling a home.

Plan Ahead

One of the best ways to deal with stress in this situation is to plan ahead. Have a place to go during an open house. Set up specific times for home tours which works best into your schedule. Come up with creative ideas to keep your house clean for minimal pickup before a home tour. For instance, you may want to keep out just a few toys for the kids and pack the rest away. Perhaps you’ll decide to rent a storage unit for most of your stuff, which means less cleaning up clutter until you sell.

Don’t Repair More than Necessary

Find out which repairs are needed and focus on them. Many sellers have limited funds for updating or fixing things on their home, so make it count. Choose repairs that will make the home more functional or have a big impact. But don’t try to tackle it all, or you’ll end up feeling overwhelmed.

Rely on Expert Advice

You can’t be expected to know everything about selling a home. Fortunately, you don’t have to. There are experts all around you who can help steer you in the right direction. Whether it’s understanding an offer, reading an inspection report, or deciding which repairs you need to make, you can rely on those who have the knowledge and experience to help you.

Avoid the Stress

If you want to avoid the stress of selling your home completely, sell it as-is to an investor. Hometown Development will provide you with a free cash offer based on the current market value. You can sell in as few as five days with no need for repairs, no home tours or open houses, no inspections and no real estate agents.Give us a call at 616-379-3090 or contact us online to set up a no-obligation walk-through today. Let us help you sell your home stress-free.

What They Don’t Tell You About Investing in Rental Property

Posted on by Hometown Development

Investing in rental property is often touted as the best way to earn a steady income. You have monthly rental payments coming in and all you do is sit back and collect the money. While this sounds like the dream for most people who want to invest smart, there are a lot of things you don’t hear about this kind of investment.

Managing a Rental Property

Managing a rental property isn’t all passive income as some would lead you to believe. It’s a full-time job, depending on how many units you own. You’re responsible for getting rent payments each month, sending reminders for anyone who is late, and taking care of all repairs to the property. You can get calls on weekends or even in the middle of the night that you must deal with. The challenges increase if you have multiple tenants.

Returns are Long-term

Real estate can be a good investment, but it’s not a get-rich-quick scheme. You won’t see profits overnight even though tenants pay on a regular basis. Much of those payments go toward the mortgages, and the rest may go toward maintenance and repairs. Your profit margin is very low in the early days of owning rental properties. Many landlords have full-time jobs for an income with the goal of getting a return on their rental properties in the future.

Good Tenants are Hard to Find

Renting a property isn’t as easy as it sounds. Even if you live in an area with great demand for rentals, you must find good tenants who will pay their rent on time, won’t cause damage, and won’t leave right away. This can be challenging, especially for an inexperienced landlord. You may need to conduct background checks, create a list of rules to be followed, and set up contracts the tenants must agree to. You’ll have to enforce these rules if the tenant oversteps their boundaries. If you have problem tenants, you may need to have them evicted, which can be a long, difficult process that must go through the court.

Selling Instead of Renting

If you find yourself as the owner of a rental property and are feeling overwhelmed, the simple answer may be to sell to a company that has the time and experience to manage a rental. Contact Hometown Development to take this rental property off your hands. We are experienced local real estate investors with the knowledge and time to deal with tenants. We are looking for properties just like yours. Contact us today at 616-379-3090 for your free cash offer. 

Selling a House with a Lien: What It Means and How You Can Sell

Posted on by Hometown Development

Selling a house with a lien isn’t easy, but it can be done. However, it can be quite complicated if you’ve never been through such a scenario before. If you’re in that situation, the following information can help you move forward.

What is a Lien And How to Know If You Have One on Your Property?

A lien is an instrument used to claim possession of a property which belongs to someone else until a debt is paid to the person claiming the lien. For instance, a builder may place a lien on a property until the property owner pays for the work that has been done to build a home. There are three kinds of liens:

·         Mechanical – placed by a builder or other trade for work done on or to your property

·         Tax – placed by the IRS or state for taxes owed

·         Judgment – placed by the court for a debtor who is owed money

It’s easy to find out if you have a lien on your property. You may not be aware of any lien, but you can check with the county clerk, assessor, or recorder. Most of the time, you can do this online at their website and enter the address of the property.

How to Resolve a Lien

If you find a lien on your property, don’t panic. First, make sure it hasn’t been paid. Sometimes the debt may be paid, but the lien won’t automatically drop off. The lien-holder must request to have it removed, and they may have failed to do so. If this is the case, you can contact the lien-holder and ask to have it taken off your property.

If you still owe the debt attached to the lien, you can pay the debt and request it to be removed. This can take some time for it to show up on the records, depending on how quickly the lien-holder processes your payment and takes the required steps.

How to Sell with a Lien

In some cases, you may not be in a place financially to pay off the lien and have it removed. You may think you’re stuck in a bad situation. However, there is hope. You can sell your property with a lien attached as long as the buyer is willing to pay off the lien at closing or the proceeds of the sale satisfy the lien before you receive your portion.

Many buyers don’t like the thought of buying a property with a lien attached, but you can find cash buyers who won’t hesitate. Talk to Hometown Development for guidance on selling your home with a lien and find out how they can help. 

5 Tips for Selling a House During Divorce

Posted on by Hometown Development

Dealing with a divorce can be a challenging situation. When you’re trying to sell your Michigan house in a divorce, the problems can increase. Here are five tips to help you through this situation.

1.       Make a Decision Not Based on Emotion

You may be at the stage of trying to decide if you want to sell or keep the property. Since you won’t both be living there, both parties must agree to the final decision of what to do with the home. If one person would be living there with the children, keeping the house may be the preferred arrangement. However, it may end up being too costly for them to maintain with the reduced income. Look at the situation as objectively as possible to make a decision that is best for all parties involved.

2.       Consider Costs of Keeping a Home

Even if you feel that keeping the home would be ideal for any kids involved, think about the costs that come with home ownership. Along with your mortgage payment, you must pay for any repairs and maintenance. You also have utilities, insurance, and other costs involved. With one less income and one less person living in the house, it may be more than you want or need.

3.       Consider Who Owns the Property

Selling a house in Michigan during a divorce isn’t always simple. You must first consider who owns the property. If both names are on the property, both parties must agree to the sale. If only one person owns the property or if it was purchased by one person before you got married, that person may have sole authority to make the decision about what to do with it. The laws regarding property ownership in marriage vary by state, which is why it is important to know how it works in Michigan. Since this is a complicated legal issue, it is best to speak with your attorney on your rights to the home.

4.       Sell Quickly to Move Forward

If you both are agreeable that you need to sell the house, you’ll want to sell it quickly. Your divorce won’t be finalized until everything is settled. You’ll have to deal with open houses, home tours, and offers with a traditional sale as well as the costs involved, which means you and your spouse will have to work together to come to a decision. If you aren’t on speaking terms, this can make a difficult decision even worse.

5.       Consider How a Cash House Buyer Can Help

The fastest and easiest way to sell your house in a divorce is to a cash buyer. Cash buyers don’t need to go through lenders for financing, which can cut down the time it takes to close. They aren’t intimidated by challenging situations, lawyers, and court cases. They offer a fair cash price and will even take care of most of the paperwork to get you out of the house and moving forward with the divorce quickly.

The team at Hometown Development is experienced in buying homes in a divorce and will take much of the stress of selling away. We provide a fair cash offer and explain your options, so you know you are making the right decision. Contact us today for a no-obligation free cash offer at 616-379-3090.

Can You Sell a House With Mold?

Posted on by Hometown Development

Yes, it is possible to sell a house with mold, but you must disclose the problem to potential buyers before selling. Let’s break down what a mold problem means for you and your home, and how you can sell a house with mold fast.

Can You Sell a House with Mold?

If you’ve noticed signs of mold in your house — damp or peeling wallpaper, dark spots on your walls and ceiling, flooding damage, musty or foul odors in your heating system — the good news is you can still sell your home. If you can’t deal with the mold before you sell, it’s your obligation to disclose the mold to potential buyers. If you’re able to take care of the mold before you sell your home, you’re likely to have more luck finding a buyer. However, there are plenty of situations where dealing with mold problems first isn’t an option. Assessing and treating mold in your home can get expensive, fast. It also can take time to find all of the mold and get rid of it completely. If you need to sell a house quickly, or don’t think you can afford the repairs your home needs, you’ll need to sell your house with mold.

Disclosing the Problem

If you plan to sell a house with mold, you’ll need to disclose the problem to potential buyers. You should put it in writing to make sure any interested buyers are aware of the extent of the mold so you’ll be protected from any liability. You might consider consulting a legal professional to make sure everything is clearly stated. Although most buyers and lenders will be wary after hearing the news, it’s still possible to sell a house with mold. Keep in mind you may need to adjust the selling price to help buyers see the home’s potential beyond its problems.

How to Sell a House with Mold

To sell a house with mold, your best bet will be to secure a cash offer you can trust. You can either wait for the right buyer to find you or, for a quick and hassle-free sale, sell your house for cash to a real estate investor.

Sell Your House Fast for Cash

A cash sale means the buyer has the funds available to purchase your home in full, right now. They don’t rely on a bank to secure financing, which means cash sales often close faster than traditional home sales. Also, many lenders will not grant a mortgage for a house with mold, so a cash buyer will be your best option. If you can find the right cash buyer who is willing to overlook the mold, other fixes your home needs are likely not to deter them either. Whether your home needs expensive repairs or just a bit of TLC, a cash sale could help you sell a house with mold.

Sell Your House to a Real Estate Investor

Another way to sell a house with mold is to sell to a real estate investor. Real estate investors are more interested in the potential of a home than its current state, and will offer you a fair price based on its real market value. They prefer to close on home sales quickly, in cash, so you don’t have to wait for a bank to approve financing, or go through a long closing process. If you sell a house with mold to a real estate investor, you can sell quickly without having to spend money to fix up your home or deal with the mold yourself. If you’re struggling to combat mold in your home, know that you do have options. If you’re trying to sell, but can’t seem to find a buyer given your mold concerns, Hometown Development can help. Give our team a call to talk through your options today.

4 Things to Know about Investing in a Real Estate Company

Posted on by Hometown Development

Investing in a real estate company can be an excellent way to expand and diversify your portfolio, draw in steady profits, and experiment with long and short term investments — all without having to buy property yourself. If you’re considering branching into the investment world of real estate, there are a few things you should know. 

#1 Investing in a Real Estate Company is Passive Income

Investing in real estate is already very hands-off — you can expect steady returns from appreciation and tax deductions — but investing in a real estate company is even easier. Owning and managing property requires time and money to maintain, but when you invest in a real estate company, they do all the work for you. 

You spend your time and money researching real estate companies that will make great investments, then sit back and enjoy the fruits of your minimal effort.

#2 There are Diverse Ways of Investing in a Real Estate Company

When it comes to investing in a real estate company, there are many ways to get involved. You can invest in a development, construction company, real estate investment firm, real estate crowdfunding opportunity, or a real estate investment trust.

When investing in a real estate company, you can identify the company that will provide the best returns over time by comparing their projects and performance. For example, a real estate investment firm with a strong presence in their local community, that is dedicated to quality work and building trust with their clients and investors will be a safe long-term investment you can expect to deliver excellent results year after year.

#3 Investing in a Real Estate Company Can Deliver Above Average Returns 

Investing in a real estate company is not only easier than buying and managing your own property, it can also be more profitable — depending on how you invest and who you invest with, of course. Real estate investments are a great way to increase cash flow, and when you invest in a real estate company that works with a large number of properties, you enjoy these benefits on a grander scale. 

Depending on the real estate company you invest with, you can expect short term returns from buying and selling property or long term returns as developments or projects appreciate in value. Either way, investing in a real estate company can deliver better returns than traditional real estate investments like buying property yourself.

#4 Investing in a Real Estate Company Can Be Relatively Low Risk

Compared to investing in the stock market, investing in a real estate company is relatively stable. Real estate companies are comfortable operating in the fluctuating trend of the real estate market, and know when to buy and when to sell properties to capitalize on their investments.

Real estate companies are experienced in choosing the properties that have the most potential. They can identify profitable investment opportunities and bring the results of that expertise back to their investors. By investing in a real estate company, you are making a safe bet that they know the real estate market and will make the best decision for you and their company’s bottom line.

Ready to invest in a real estate company that can provide above-average returns? Talk to the team at Hometown Development.

Understanding the Costs of Selling a House in Michigan

Posted on by Hometown Development

It’s surprising to many, but selling a Michigan house or property actually does cost some money. From Realtor fees to staging fees to paying your mortgage while waiting for closing, not to mention any repair costs, there’s a lot of money you can end up putting into the sale of your house. Let’s take a look at the costs of selling a house you can expect — as well as some ways to save money during this process.

The Costs of Selling a House

Selling a Michigan house can get expensive fast. Some costs of selling a house you can expect — like making repairs or working with a Realtor — but other expenses, like closing costs and attorney fees, can also reduce your profits from a home sale. Some of the costs of selling a house include:

Home Repairs and Other Costs of Selling a House

If your home or property needs a bit of work before it’s ready to list on the market, one of the biggest costs of selling a house is repairs. Repairs could include serious expenses like replacing the roof or fixing a cracked foundation, or be a collection of smaller, cosmetic costs like painting the interior a neutral color or revitalizing your home’s landscaping. Also, if your house is showing its age, you might need to update rooms and appliances to make it more appealing to potential buyers.

Remember that you’ll need to continue paying regular maintenance costs and your mortgage during this process — all the way up until the home changes hands. The more work and time your home needs to be ready to sell, the more money you’ll end up paying.

Realtor and Attorney Fees

In order to help sell your home, you may consider working with a Realtor — but you’ll need to be aware that they come with their own costs as well. A Realtor can help you determine what needs to be fixed or changed before selling your house, and help get the word out about your home sale to reach more potential buyers. However, they may require you to pay for professional staging or photography to list the home and, on top of that, they will earn a percentage of the sale (usually 6 percent) once a buyer is found.

Closing Costs of Selling Your Michigan House

Closing costs are extra fees and expenses that the seller is responsible for paying throughout the closing process. Typical closing costs can amount to 6-10% of the sale price of the home and include:

  • Title insurance
  • Property transfer taxes
  • Any outstanding liens
  • Recording fees
  • Holding costs
  • Repairs required after the home inspection

Timeline of Selling a House

You won’t just be spending money to sell a house or property, another important cost to consider is time. Preparing your home for sale, listing it on the real estate market, finding the right buyer, and going through the closing process can take time — especially if your home needs repairs, is outdated, or the buyer needs time to secure financing. 

Selling a house can take several months. If you need to pay to maintain the house and property during this time, your costs can multiply until the sale finally goes through. If you’d prefer to sell your house fast, you may need to look at an alternative way that helps you avoid the costs of selling a house.

Avoiding the Costs of Selling Your Michigan House

If you want to spend as little as possible and minimize the costs of selling a house, you can sell your home without making costly repairs in an as-is sale, sell your house yourself to avoid Realtors’ fees, or sell to a real estate investor in a fast, cash sale.

Sell Your House As-Is for Cash

One way to save on the costs of selling a house is to sell your home as-is. That means you don’t need to worry about making repairs, cosmetic changes, or updates to your home. You list it for sale in its current condition and get to save the money you would have spent on expensive fixes. In order to sell your home as-is you may need to price it competitively or be patient for the right buyer to find you. 

Alternatively, you could prioritize the repairs your home needs, and leave the extra fixes for the next homeowner to worry about.

Sell Your House Yourself

If you sell your house yourself, you can avoid paying Realtor fees and save money in your home sale. A benefit of selling your home by owner is that you can decide how much work you want to do to prepare it for sale. If you decide to sell this way, understand that selling your home may take longer and you’ll have to do the work yourself when it comes to listing your home, facilitating showings, and negotiating with potential buyers.

Sell Your Michigan House to a Real Estate Investor

Finally, a great way to sell your house without spending extra money on repairs, Realtors, or closing costs, is to sell your home to a real estate investor. Real estate investors prefer to purchase homes: 

  • In as-is condition — meaning no expensive repairs necessary
  • Without a Realtor — no commissions to pay
  • On a quick timeline — often in as few as 5 days

If you want to save on the costs of selling a house and sell your house fast for cash, selling to a real estate investor will be the ideal solution for you.

Selling your home traditionally can end up costing quite a bit. If you’re ready to move on, without the hassle of a realtor and closing costs, talk to Hometown Development. We prefer to close in as few as five days, and we handle all of the closing costs.

How to Manage a Rental Property Long-Distance

Posted on by Hometown Development

Managing a rental property is a lot of work. As one of the most active types of investments, owning and maintaining your own income property involves a variety of tasks, including landscaping and cleaning the property, repairing problems, finding and keeping good tenants, upgrading units, collecting rent (or tracking it down if it’s not paid on time), and generally being available for tenants, contractors, and others to reach you.

— and if you are trying to figure out how to manage a rental property long-distance, or commuting back and forth, all of these tasks become even more difficult. 

How to Manage a Rental Property Long-Distance

If you’re struggling with being a long-distance landlord, you have options. You can try to make the experience easier by hiring a go-between — a management company or a reliable tenant — or you can sell the property and search for a more passive real estate investment.

Work With a Local Management Company

One way to balance how to manage a rental property from a distance is to contract out some recurring services like landscape maintenance and cleaning services, and repairs, or transfer all regular responsibilities to a management company local to the area. Management companies can handle all of the tasks you would normally manage and then pass the profits off to you — after taking out their fee, of course.

The obvious drawback is that the more services you hire, the less profit you’ll see returned. If you own a small investment property with few tenants, it might not be worth it to outsource all the labor.

Hire a Reliable Tenant

Another option is to rely on a tenant to manage your property while you’re at a distance. This works best if you only have a few tenants and they all get along well. The right tenant for this job has the time to help maintain the property and can be available to other tenants to make repairs or address requests, deal with rent issues, and answer general questions. They will also have the right people skills to listen to tenants concerns and keep you informed of any developments or problems.

The downside with this option is that your tenant may not be as dedicated to real estate management as a landlord. Sure, the bonus of decreased rent or a steady additional income may be attractive to most tenants, but they have their own life, and managing real estate might not be their long-term goal. Unless you find the ideal tenant whose highest aspiration is to maintain your property for a reasonable fee, this will be a short term solution, at best.

Also, the more tenants you have, the more difficult it is to put the responsibility on the shoulders of one person to make administrative decisions.

Even if these options help you figure out how to deal with day-to-day tasks and manage a rental property long-distance, you may still be required to commute back and forth every time there’s an issue your management company or tenant can’t handle. 

How to Sell a Rental Property Long-Distance

If managing a rental property long-distance just isn’t feasible for you anymore, it’s time to consider other options: Sell the rental property to a real estate investor and look for a more manageable property that’s local to you. Or, find a passive real estate investment and enjoy reliable long-term returns without the added effort or commute.

Sell Your Rental Property to a Real Estate Investor

Real estate investors make the ideal buyers for rental properties like yours because they are actively looking for turnkey investments. They have time, capital, and experience, and know how to manage a rental property effectively. When you sell to a real estate investor, you don’t have to waste time and money preparing the property for sale, hire a specialized Realtor, or wait for just the right buyer. Real estate investors will purchase your property in its current condition, offering you a fair cash offer for its real market value. 

They also prefer to move quickly through the sale process, so you can sell according to your timeline. If you want to get your rental property off your hands and off your mind, selling to a real estate investor is the fastest and most convenient way to accomplish that.

Find Passive Real Estate Investments

There are many types of real estate investment that don’t involve buying and selling property. Investing in a development or a real estate investment firm, for example, means you can still participate in the lucrative real estate market without doing the work of flipping homes or managing tenants. Once you’ve sold your rental property, you can begin your search for other appealing real estate investment opportunities that suit your risk level and time commitment.

Tired of managing your rental property long distance? Hometown Development can help. We purchase properties in as-is condition and can help you sell your rental property fast and hassle-free. Talk to our team for more information.

Can You Sell a House with Property Taxes Owed?

Posted on by Hometown Development

Yes, but the process is more complicated than a traditional sale, and requires that you as the seller address the delinquent taxes before the sale can close — either by paying off the owed taxes beforehand, or using the proceeds of the sale to fulfill the debt requirements. However, if the sale doesn’t cover both your mortgage and the owed taxes, things can get more complicated. 

The important thing is that you have options, and if you need to sell a house with property taxes owed, this guide will help you through them.

What Happens When You Owe Property Taxes?

Property taxes are typically paid twice a year, usually once the winter and again in the summer. When you sell your home, you pay any taxes owed at the time of closing. If this date falls between the winter and summer taxes, the amount is prorated to the close date. This gives the buyer a clean slate when they purchase the property. 

If you have delinquent property taxes, to the point where the county or city has placed a lien, which is a claim against your property, you must address the owed taxes before the sale can close. You can use the proceeds of your home sale in order to pay the taxes, but the process becomes more complicated if you can’t pay the tax and your mortgage with what you earn in the sale. 

Can You Sell a House With Property Taxes Owed?

If you want to sell a house with property taxes owed, you can either pay back the tax before the sale or sell and use the home sale to pay the debt.

Pay Back the Taxes Quickly

If you have the funds in your savings or can liquidate the funds needed to pay the owed tax and have the lien removed, you should do so. The longer you wait to pay back the tax, the more interest it accrues, putting you in further debt. Once you’ve paid back the owed taxes, you can ask to have the lien removed from your home’s title.

The sooner you can pay back the taxes owed on your property, the better off you will be. If you can’t settle the debt before you sell a house with property taxes owed, you may still be able to go forward with a sale and move on from your home debt-free.

How to Sell a House With Property Taxes Owed

If you need to sell your home to pay back property taxes owed you may be able to use the home sale to fulfill your debt obligations. Otherwise you may need to obtain a lien release or find the ideal buyer for your home: a real estate investor.

Pay Owed Taxes Using Home Sale Proceeds

The most common way to sell a house with property taxes owed is to pay back the taxes using the proceeds of the home sale. At the time of closing, the sale of the home will go toward the mortgage and then the lien. A closing attorney will supervise the transfer of funds to ensure that the delinquent taxes are paid in full. Any remaining balance, after closing costs and Realtors’ fees will go to the seller.

For example, if you sell your home for $200,000, a large portion of that will go towards the mortgage balance of $150,000. If you have a tax lien of $15,000 on your home, your closing attorney can arrange to have that amount taken out of your sale proceeds at closing, which will leave you with $35,000 (before closing costs and fees).

If the proceeds of your sale do not cover the mortgage and owed taxes, you’ll be responsible for bringing the rest of the owed balance to closing to satisfy the lien — or the sale cannot close. If you aren’t sure that you can sell your home for a price to meet all financial obligations, you may want to seek another route before you sell a house with property taxes owed.

Obtain a Lien Release to Pay After Closing

In some situations, the taxing agency may grant a lien release called a “certificate of discharge”. This certificate does not forgive the debt or extend your repayment indefinitely. What it can do is allow the lien to be released from the title of the property and transferred to you. You must still repay the owed taxes, but you’ll be able to sell your house and pay back the debt after the sale.

The disadvantage of this method is that it can take time, extending the closing of the sale and increasing the chance the buyer walks away. 

Most average home buyers will not be interested in a home with a lien and back taxes owed. They don’t want to be responsible for paying extra taxes, and the closing process can take a long time if they have to wait for you to obtain a lien release for the sale to go through. If you want to find a buyer to sell a house with property taxes owed, you need to find the ideal buyer for your situation: a real estate investor.

Sell to a Real Estate Investor

The best way to sell a house with property taxes owed is to sell to a real estate investor. A real estate investor has the time and capital to help you out of a tough situation, and won’t run for the hills if they see a lien on your title. They have the expertise in real estate to give you sound advice and can help you find the best solution for your situation. 

When you sell your home to a real estate investor, you can complete the sale on your timeline. You also won’t have to worry about making any costly repairs or changes to your home, hiring a Realtor, or waiting around while they secure financing. Many real estate investors prefer to close on home sales quickly, with fast cash offers, so you can resolve your debt and close on your home sale quickly and without the hassle of a traditional sale.

If you owe taxes, but still want to sell your home, you have options. Whether you can pay back the taxes you owe before selling your home, or use the home sale to pay back your debt, there’s a way to navigate this situation that will resolve your financial problems and help you move forward in a new home.

 

If you owe property taxes on your home and are trying to sell, or aren’t sure what to do, talk to the team at Hometown Development. We’d be happy to clearly outline all of your options, and help you decide on a path that best for you, your home, and your finances.

Licensed Contractor

Licensed Builder
Licensed Real Estate Agent

All closings performed by Bell Title
Meghan Vandenhout 616-942-8955

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