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What to Expect When Selling Your Home As-Is

Posted on by Hometown Development
If you’re considering selling your home, you may be looking for an option that will complete a sale quickly and efficiently, with minimal stress or manual labor. With an as-is sale, you can expect to sell your home fast, without having to deal with the usual repairs and delays of a traditional home sale. If you’re ready to move out and move on, an as-is sale might be the perfect choice for you.

What is an As-Is Sale?

Many homeowners are unfamiliar with an as-is sale. An as-is sale occurs when the homeowner sells their home exactly as it is, without making repairs, cleaning, or updating the home’s condition. The buyer will probably have the resources and time to make those changes, and purchasing the home for a slightly lower price allows them to do so. An as-is sale helps you sell your home quickly and without hassle, so you can get on with your life.

As-Is Selling Process

When you’re selling your home as-is, a potential buyer will assess the home and appraise its value. Based on the home’s value and any necessary repairs or changes, the buyer will make an offer, often in cash. 

Once the offer is accepted, the closing process is easy. The buyer will be ready to pay right away, so you won’t have to wait for them to secure a loan or other financing. You’ll receive the agreed-upon amount, and your transaction is complete.

The buyer already knows the condition of your home from the walk-through, so there won’t be any surprises. They will take care of any repairs or updates after the home is sold, so you won’t have to worry about it. The amount you receive might be slightly lower than if the house was in perfect selling condition, but you escape the hassle of trying to prepare it for sale. Here’s a helpful offer comparison of a traditional vs. as-is sale if you’d like to know more about the financial aspect of an as-is sale. 

You won’t need a realtor if you sell your home as-is, you’ll just work with the buying agent and can avoid realtor’s commission fees completely. The entire process will only take a week or two, and you can get started on whatever is next in your life.

What to Expect When Selling Your Home As-Is

You won’t need to make repairs.

Even if you spend the time and money to make the necessary changes to your home before selling, there’s no guarantee you’ll be able to make that money back in the list price. Selling your home as-is means you’ll have your money faster, and for a good value based on your home’s current condition. However, fixing major issues such as a leaky roof or a foundation concern may have monetary benefits.

You can sell your home fast.

The process can vary, based on the housing market and local competition, but the total length of the as-is sale process is from five days to two weeks. As-is sales don’t require multiple showings or inspections, which further cuts downtime before closing. Compared with a traditional home sale which can take two months or more, a quick as-is sale is very appealing.

You don’t need a realtor.

Realtors can be a hassle. They are often more concerned with their cut of the profits than what you as the homeowner will get out of a sale. Realtors aren’t necessary with an as-is sale. The buyer and the seller communicate to agree on an offer that best matches the home’s value.

You can unburden yourself from a weighty mortgage or fear of foreclosure.

If you’re feeling pressure from mortgage lenders or are in the foreclosure process, an as-is home sale can help you get out from under your debt quickly and painlessly, and free you of the worry of losing your home. Don’t let your debts sink you. You can take control of your finances by selling your home as-is for an instant economic solution.

You can move on quickly.

Most importantly, once you sell your home in an as-is sale, you can move on right away. Start the next chapter of your life in a new home, without having to cope with the stress of selling your old one. You can have the life you want, and an as-is sale might help you get there.

As-is sales aren’t right for everyone. If you have the time, money and skills to repair your home and prepare it for sale, entertain showings and negotiate with potential buyers, host inspections and wait for the sale to close, you might be more comfortable with a traditional sale. However, if you’re concerned repairs won’t have much of an impact on the sale price, or the hassle just isn’t worth it, or you need to sell your home fast, an as-is sale will put money in your pocket much faster.

If you still have questions about the process, or if you think an as-is sale is the right option for you, Hometown Development can help. Give us a call at 616-379-3090 or contact us online for more information. 

Behind on Mortgage Payments? Here’s What You Can Do

Posted on by Hometown Development

I’m behind on mortgage payments. What can I do?

Getting behind on mortgage payments can be a slippery slope, and the longer you ignore the problem, the more dangerous it becomes. It can feel like you’re running out of options, treading water until a life-preserver is thrown out to you. Ultimately, you want to avoid foreclosure and losing your home, as this will put you in a difficult financial situation that it is very hard to recover from. Don’t lose hope, as you have options when it comes to catching up with your payments or getting rid of your mortgage altogether.

Make a Plan

First, you need to accept where you are and understand the importance of your next steps. Taking action early can save you a lot of headaches down the line, and leave you in better financial shape for the rest of your life. 

Second, take ownership of your financial decisions. You are in control, and what you decide will impact your future. Read through your lending agreement so you know the terms and the rights available to you as a homeowner. Make a plan that is realistic for paying your debts.

Finally, ask for help if you need it. Know that there are resources out there to help you and others like you get back on your feet. You are not the first person to struggle with a cumbersome mortgage, nor the last. There are people who specialize in this exact situation who are prepared to lend a hand and assist you in dealing with your debts and continue to move forward.

 

If you’re behind on mortgage payments, there are things you can do to help yourself. Let’s explore some of your options.

Catch up on Mortgage Payments

The quickest way to fix this problem is to catch up on payments by paying them outright in a lump sum. This will bring you up to current payments and you can go back to paying normal amounts next month. To acquire funds for this lump sum, you may consider selling assets like non-sentimental valuables or antiques. Look around your home for ways you can downsize and get rid of possessions you don’t need, like an extra television set or expensive camping gear. Every little bit you can sell will help you get closer to your goals.

Talk to Your Mortgage Lender

Another action that could help you if you’re behind on mortgage payments is to speak with your lender about possible solutions. They may be open to arranging a new repayment plan or adjusting the terms of your mortgage to help you meet more achievable monthly payments. Let’s look at a few options you can bring up with your mortgage lender.

Forbearance

Forbearance means your lender would temporarily postpone or reduce payments until you can agree on a repayment schedule. Agreeing to forbearance means your lender will not pursue foreclosure, which will give you peace of mind as you work on a plan that benefits both parties. Keep in mind that when your repayment is due, you will need to pay back all of the missed payments to bring your account current.

Reduction of the Mortgage Principal

Your lender might be open to reducing the amount you owe, or the principal of your loan. The lender might agree to this if they could recover more money through a lowered principal than they would in a foreclosure, especially if you owe more than what your home is worth.

Mortgage Refinance

Refinancing your loan means you make a completely new loan agreement with new payment amounts, interest rates, and payment schedule. It may lower your monthly payments, which could help you keep up with the schedule. You must be up to date on payments to refinance your loan or you will still need to settle the other mortgage, but it could help prevent you from falling behind on mortgage payments by making them more manageable in the future.

Selling Your Home to Pay Off the Mortgage

If you’re falling behind on mortgage payments, it can feel overwhelming when the debt stacks up month after month. If you want to get rid of your mortgage payments altogether, you may consider selling your home to pay off your debt. There are a few different ways to do this. You can sell your home in a short sale, with the help of a realtor, or sell it as-is for a quick sale.

Sell Your Home in a Short Sale 

A short sale is when you sell your home for less than you owe. You can avoid foreclosure with a short sale, but you basically start from scratch. It might be an option if you’re desperate to get out from under your debts. You have to discuss it with your lender before you can sell your home in a short sale.

Sell Your Home With a Realtor

If you choose to sell your home with a realtor, you will work with their office to prepare your home for sale. It could take months before it’s ready to be put on the market, and months more before an offer is received. Although you might be able to sell your home for a higher price with a realtor’s skilled help, their commission will slightly lower your profits — and the amount you can pay back on the mortgage. Plus, the time it takes to sell your home this way puts your further behind on mortgage payments, leaving you with a bigger debt to settle at the end of the process.

Sell Your Home As-Is for Cash.

In an as-is home sale, professional real-estate investors will give you a fair price for your home’s value. You don’t have to worry about making repairs or working with a realtor. Most importantly, you can be paid for your home sale right away. You can have your debts paid in as little as five days and move on to the next chapter of your life.

Get Some Help

If you still have questions about catching up with mortgage payments, go to a government agency like Housing and Urban Development. They have housing counselors available to guide you through the process of catching up with missed mortgage payments. Counselors can give you real answers about what to expect if you aren’t able to pay your debts as well as practical solutions to avoiding foreclosure and bankruptcy. Their advice is free, so it never hurts to ask.

You’ve already made a great first step by looking for a solution before you’re underwater. You’ve taken control of the process and are well on your way to forming a clear plan that will lead you out of mortgage debt.

Here at Hometown Development, we know it can be tough to feel like you’ll never catch up. Our team is here to help. If you’re behind on mortgage payments, we can offer you a fair cash offer for the market value of your home to help you get out from under that cumbersome mortgage. Call our office at 616-379-3090 or contact us online to learn more.

Why Now is the Time to Invest in West Michigan Real Estate

Posted on by Hometown Development

If you’re looking for new opportunities to invest in real estate, West Michigan has some of the fastest-growing real estate markets in the country. Michigan is already on many investors’ radar because of the low cost of living, competitive housing market and low vacancy rates.

A Grand Opportunity

The city in Michigan with the highest investment value right now is Grand Rapids. It’s the second-largest city in the state with a population of about 200,000. Many view it as the most promising city in Michigan. 

Grand Rapids has a strong economy and low unemployment rate, which draws people in from surrounding areas. It also has a growing student population which pertains to several colleges in the area. The young people are staying in the city after graduating, buying homes with a stable income from a healthy job market. Property values have been steadily rising in recent years and are projected to grow at least at the rate of inflation for the next few years. Typically, homes receive two offers and are sold in about two weeks. This positive return on West Michigan real estate investment is hard to pass up.

Competition is extremely high for prospective buyers and investors. Most residents of Grand Rapids are homeowners, not renters. Those who are renting are reluctant to end their leases, meaning less turn-over in rentable properties. Currently, the trend is to flip older houses and turn them into multi-family rentals, rather than build high rises or condominiums. It is still a seller’s market, meaning there are more buyers than there are homes to sell them.

Rising Stars

Many towns surrounding Grand Rapids are showing similar growth patterns, making them equally lucrative investment sites, possibly without the intense competition. East Grand Rapids and Kentwood are developing quickly. As prices rise in Grand Rapids, residents will be moving outward to find available homes with a short commute. These communities boast excellent schools and are attracting many young families.

Also, Michigan is still home to much undeveloped land, and as more people flock to centers of industry and community, suburbs will need to be expanded. This land is typically very economical and is generally ready to build, thanks to Michigan’s malleable landscape and consistent elevation. What’s special about Michigan is the dedication of its residents to their small communities. Developments not only capitalize on this cultural need, but serve the people by bringing them together and creating neighborhoods where they can connect.

Bright and Brighter

What are continuing to be solid real estate investments are properties along the shore of Lake Michigan in cities like Grand Haven, Holland and further north in Traverse City. Second homes and vacation rentals don’t stay on the market long and appreciate well over time. 

Lake Michigan properties are increasing in popularity for the purpose of retirement. Grand Haven has a very active community and walkable plan. Combined with its proximity to the beach, it is a very popular spot to settle for older residents. Grand Haven has a healthy population of year-round residents, so activity doesn’t stop in the colder months. Homes in this area are still increasing in value and make for lucrative investment properties. 

The Future is in West Michigan Real Estate

Now is the time to get in on the ground floor before the market opens up and prices skyrocket. Working with local real estate investment companies that specialize in serving their communities would give anyone an edge in those markets. An investment in returning older homes to their former glory — especially those homes that have an existing hold in growing communities — can provide you with the return you need, while helping restore our West Michigan neighborhoods for the larger community. A partnership between a keen investor and a knowledgeable development company would be fruitful for all parties. 

West Michigan is one of the fastest-growing regions of the country and its real estate market is ripe for investment. For attractive real estate investment opportunities, talk to the team at Hometown Development — we’d love to work with you! Leave us a message online, or give our office a call at 616-379-3090.

What to Know About Michigan Property Tax Foreclosure

Posted on by Hometown Development

Foreclosure is a scary word. What does it mean? What can be done to stop it? Here’s everything you need to know about Michigan Property Tax Foreclosure.

What does property tax foreclosure mean?

If you don’t pay the real property taxes on your home, you will eventually lose your home, in other words, it will be foreclosed. Fortunately, in Michigan, the property tax foreclosure process takes about three years.

If property taxes are not paid by March 1st, the property is considered in delinquency. Taxes can still be paid, but late fees may apply. After the second year, the property is forfeited to the county treasurer and the foreclosure process begins. This does not mean you have lost your home.

The next year is referred to as the redemption period. During this period you have about one year to pay back the taxes owed on the property. If the taxes are still not paid as of March 31st of the third year, the county treasurer will take ownership of the property and can put it up for sale. At this time the property is fully foreclosed and tenants must vacate the premises.

How long do I have before I lose my home?

The entire property tax foreclosure process in Michigan takes about three years. If you have received a notice of forfeiture, you still have a year to pay your taxes to keep your home. If you are able to do this, the foreclosure process will be stopped. However, if you are unable to pay back your property taxes, at the end of the process it is likely your home will be foreclosed.

What can I do to stop the foreclosure?

Once your home is in the foreclosure process, you have a few options. The first is to pay what is owed on your home, plus a little in interest and fees. You may be eligible for reduced or deferred taxes if you are elderly, disabled or meet specific income requirements. If so, you must apply for deferment using an application and submit it to your county treasurer by the deadline.

If you are not able to pay the full amount of property tax you may be able to reduce the amount of taxes owed. Property taxes are based on your home’s estimated value. If you can contest the reduced market value of your home, you may have to pay less tax.

Finally, if you are still unable to afford the Michigan property tax and avoid foreclosure, you may wish to sell your home. This option enables you to be rid of the debt and move on with your life in a new home you can more securely afford.

How do I sell my home?

When it comes to selling your home you can either sell it yourself or sell it via a reputable real estate investor. Let’s explore what that means for you:

Sell it Yourself

Selling your home yourself means you solely are responsible for preparing your home for sale, marketing it to prospective buyers, and following through with any inspections or closing processes after an offer is accepted. This process can take anywhere from 6 months to a few years, depending on how many changes you must make to the property to prepare it for selling, and how long it takes to find a buyer. Even after doing this, inspections and the closing process may delay the final sale by weeks or months.

If you are keen to DIY and have a knack for navigating the fluctuating housing market, you may feel comfortable selling your home on your own. If, however, you are facing a tax delinquent foreclosure, and you don’t have much time to pay back those property taxes, it’s a good idea to seek the help of a real estate investor to move the process along quickly.

Sell to a Michigan Real Estate Investor

Selling your home to a real estate investor has many advantages. They will help you out of your back taxes right away, so you don’t have to worry about the government knocking on your door.

A real estate investor will give you a fair price for your home, something that isn’t guaranteed if you try to attract a buyer on your own. They will work with your timeline and you won’t have to worry about making changes to your house to get it ready to sell. For many homeowners, this process is a simple and stress-free way to get on with your life and out from under the weight of your debt. 

Whatever route you decide to take, there are resources to help you. Here at Hometown Development, we know the Michigan property tax foreclosure process can be long and confusing. If you have questions about a home in the property tax foreclosure process, or to sell your home before it’s foreclosed on, give us a call at 616-379-3090 or contact us online today to discuss your options.

How Long Does an As-Is Home Sale Take?

Posted on by Hometown Development

If you want to sell a home quickly for whatever reason, be it divorce, death of a family member, or foreclosure, you may have heard that selling for cash, as-is is the fastest way to do that. But just how soon can you expect to be out of your house, money in hand, and onto the next thing? How long does an as-is home sale take?

How Long Does a Traditional Home Sale Take?

Before we tell you what you really want to know, first, some context. You’re really going to appreciate what you read next about how long it takes to sell a home as-is once you know what the alternative is. And it isn’t pretty. According to Zillow, most homes stayed on the market for an average of 68 days. So, just over two months. If you need cash now, that’s not great, but that figure is even more concerning when you figure in a couple of things: that is the average, meaning that some homes were on the market for much, much longer than 68 days and that “on the market” means just that, listed for sale. 

 

Some of these homes were on the market but were taken off, even though they didn’t sell. The sellers might have changed their minds about selling, or simply have gotten discouraged and given up. After a few months or even years of waiting for a home to sell, the buyers may have even decided to sell as-is.

How Long Does an As-Is Home Sale Take?

You can sell a home as-is in as little as five days. That’s right, five days. What’s the difference between that and a traditional sale? Just over two months. 

 

While obviously every case is slightly different, selling as-is really can happen quickly in the span of just a week or two, as opposed to months. This is because the lengthy process of listing the home, doing showings, considering offers, and inspections is virtually cut out of the equation. 

 

When you sell-as is, generally speaking, the buyer will appraise and inspect the house themselves or through an agent, and use that information to make an offer. The middlemen of realtors are cut out, and there’s no long approval process for the buyer to get financing for a mortgage. 

 

If you are hoping to sell your home quickly, as-is or for cash, consider talking to the team at Hometown Development. A local real estate investment firm, we purchase properties in cash, and we can help you close in as little as 5 days. For more information about our process, give us a call at 616-379-3090 or contact us online today.

Can I Sell A House that Needs Repairs?

Posted on by Hometown Development

It’s a tough situation: you need to sell your house, but it’s not in good shape. Maybe you haven’t been able to keep up on repairs since you’ve gotten older, or maybe you simply don’t have the money to fix the problems that have been cropping up. But you know that no one wants to buy a new home with problems… right? If you’ve been asking “Can I sell a house that needs repairs?” here are your options.

Repair the Home 

If your home needs repairs and you want to sell your home in the traditional way, through a realtor, you may choose to make those repairs. Depending on the cost and extent of the repairs, you may be able to do this yourself or have to hire a contractor. Replacing an old water heater or countertops might not be too big of a repair to have done yourself before a sale, but replacing the whole roof might be another story.

 

While traditional sale of your home might result in the greatest price for your home, doing the necessary repairs can have some downsides. If the repairs are extensive, you may be out a lot of money, which you may or may not recoup in the sale. Also, these repairs can take a lot of time, which you may not have to wait.

Sell the House As-Is

Selling a home as-is is exactly what it sounds like: you sell the home in the condition it’s in, regardless of any issues or repairs needed. While you might not get the same price you would if your house was in perfect condition, you don’t have to worry about the expense and time of making repairs yourself. If you need to get out of your house ASAP, for instance, in a foreclosure or divorce, you may not have the time or funds to complete a repair.

 

Selling as-is means that the buyer accepts whatever issues the home has and will pay for the repairs themselves. If this buyer is a real estate investor or house flipper, they likely have the resources to complete these repairs for less than it would cost an average homeowner, meaning that they might even pay more for your house than you would have gotten in a traditional sale, after you subtract your expenses for the repairs. 

 

Plus, selling as-is expedites the sale process. Since the buyer is accepting that there are issues with the house, there aren’t the same kinds of inspections and evaluations that happen with a traditional sale. Additionally, these buyers are motivated to close sales quickly, so that they can flip the house and start making money themselves.

 

Hometown Development purchases properties in any condition. It doesn’t matter what repairs your home needs if you’re looking to move on, we can help you. Contact us today online, or by phone at 616-379-3090, for more information about your cash offer. 

I Need to Sell My Home Fast — What Are My Options?

Posted on by Hometown Development

There are many reasons you may want to sell your house quickly. Whether you’re facing foreclosure, getting divorced, are moving for work, or simply need money, selling your home as fast as possible is crucial. But selling quickly can be hard to do. If you need to sell your home fast, here are your options.

Traditional Sale Isn’t the Best Option

It might have been a while since you bought your home, but if you think back to that process, you’ll remember that it wasn’t a quick one. The traditional sales process for homes moves at a glacial pace. First, you need to find a realtor, who lists your home for sale. Then your house could sit on the market for months—even years—before someone is interested enough to make an offer. Plus, once an offer is made on the house that you accept, there’s still a lengthy process of inspections and permits and signing documents before closing.  

 

Additionally, another component of a traditional sale is making the home as appealing to potential buyers as possible so that you can get the best price for it. This can often include making updates and upgrades from minor things like buying new appliances and cosmetic changes like a new coat of paint to more extensive renovations. Those changes take time and money, for little to no guarantee of success in selling the home or fetching a high price.

Sell As-Is

As we mentioned in the last section, sometimes homeowners will make changes and renovations to their homes in order to make them more saleable. But, this takes money and time, and you don’t want to spend either when you’re looking to sell quickly. Selling the home as-is is a way to avoid the delay and hassle of updates and remodeling.

 

This also cuts down on the negotiation side of selling a home, which itself can lengthen the process. If it’s clear that you’re selling the home as-is, you won’t have to bicker with buyers who will only give you your asking price if you replace all the appliances or put in a new water heater.

Sell for Cash

The whole process of getting approved for a mortgage is another lengthy part of the traditional sale cycle that you can and should avoid if you need to sell your house right now, today, ASAP. Selling for cash is the way to do this. No financing approvals that take weeks and months, no hassle in getting your money right away.

Sell to Real Estate Investors

If you sell to real estate investors, instead of a traditional sale to future resident homeowners, you’re going to shave a lot of time off the home sale process. This is in part because investors have the capital and resources to enable the options we mentioned previously: buying for cash and buying as is. Plus, real estate investors and developers also are motivated to speed up the sale process. The sooner the purchase is completed, the sooner they can start making money off the home and property.

 

If you’re moving out of town, facing foreclosure, or simply just need to sell your home quickly, the team at Hometown Development can help. We purchase properties in any condition, for cash, which means we can close in as little as 5 days. For more information, or to start the process of selling your home fast, give us a call at 616-379-3090 or contact us online today. 

5 Signs You Can Trust A Cash Offer For Your Home

Posted on by Hometown Development

Selling a Michigan house for cash isn’t the traditional or typical route, so naturally, people are concerned about the risks. After all, when you do a traditional home sale, you don’t have to vet the offers—the bank takes care of that for you. If the prospective buyer isn’t credible or has bad credit, the bank will simply deny them financing. But selling your house for cash isn’t an insane risk, it’s often your best option if you want to sell quickly. Here are 5 signs you can trust a company or individual making a cash offer for your home.

1. The cash offer makes sense

Everyone would love to double their money when they sell their house, but that just isn’t the reality most of the time, especially if the market has faced downturns, your home is in disrepair, or you need to sell very quickly. Given the condition and the appraised market value of your home or property, an offer that is in that ballpark is more likely to be legitimate.

2. The real estate investment firm is legitimate

There are a lot of shady real estate investment operations out there, scamming people out of their money. Make sure that the company you’re dealing with has a solid reputation in your community and in the industry. Look into their investors, their past projects, and their online presence and ratings to get a sense for their legitimacy.

3. The investment firm has glowing reviews and testimonials

People aren’t going to write good reviews of a company who nickel-ed-and-dimed them or otherwise took advantage of them in the sale of their house. So, if their reviews are stellar—and not just on their website, but on other platforms like Google, etc.—you can have more confidence that you’ll be well-treated, too. 

4. The real estate investment company is local

A local company is always your best option for selling for cash, as they can provide you with a better and more accurate appraisal of your home’s value, as they can send their personnel out to your home, rather than subcontracting the appraisal to a third party or not performing an in-person appraisal at all.

5. The offer is for the home as-is

If the company purchasing your house is asking you to make a bunch of changes and updates to the home before they come through with the price they offered, that might be a sign to step away. Renovating the home will take time and cost you money, during which time the deal could fall through. Legitimate real estate investors and purchasers will make you an offer for your home based on what it’s worth now, not what it would be worth if you replaced all the appliances and put in new countertops.

Signs You Shouldn’t Trust a Cash Offer

If you receive a cash offer for your house or property, here are a few signs to look out for that indicate that something fishy is going on:

  • The investor doesn’t have a website.
  • It’s difficult to get in touch with your point of contact
  • The offer is extremely high or too good to be true
  • The real estate investor only contacts you via email or digital means, or won’t meet in person 
  • The investor has never appraised or inspected the house

If you’re looking for a cash offer for your home that you can trust, call Hometown Development. We’re a local real estate investment firm with a mission to responsibly buy houses here in West Michigan. For more information about our process, or to get in touch about a cash offer for your home, please give our office a call at 616-379-3090 or leave us a message online, and we’ll get back to you as soon as possible. 

Can I Sell A Home In Pre-Foreclosure?

Posted on by Hometown Development

Foreclosure is a scary word, especially if crushing mortgage payments after an accident, illness, divorce, or another tragedy have rocked you and left your finances unstable. If you’re worried about being able to pay your mortgage and the possibility of foreclosure, here’s what you need to know about selling a home in pre-foreclosure and how to sell your house before the foreclosure happens.

Can I sell a home in pre-foreclosure?

Yes! If you’re facing foreclosure, you have the opportunity to sell your home up until the home is sold at auction in a Sheriff’s Sale by the mortgage lender. 

A home will be foreclosed upon when a mortgage lender exercises its right to sell a property which the owner has not kept up payments on. The lender gives the homeowner a period of time to make payments or other arrangements before selling the property.

The lender will then auction the property in a Sheriff’s Sale. The notice of the Sheriff’s Sale must be published for four weeks before the auction, during which time the homeowner can sell the property, refinance the property, make all outstanding payments on the property, negotiate a loan modification with the lender, or file bankruptcy.

 

When is it too late to sell my home during the foreclosure process?

After a foreclosed home is sold by the mortgage lender at auction, the homeowner has a redemption period (typically between six months and a year) to pay the lender in full to retain ownership of the home. So, after the Sheriff’s Sale, unless you pay the mortgage lender all that you owe them, you no longer own the home, and you can’t sell it.

How can I sell my home

pre-foreclosure?

When you’re facing a foreclosure, you have a couple of options for selling your home. You can go the traditional route, listing your home for sale and possibly hiring a realtor. While this is the best way to get the full market value for your home, it can take months, even years, to sell a home this way, and in a pre-foreclosure scenario, you don’t have that time. There are only a few weeks of notice before the Sheriff’s Sale and a year or less of a redemption period, which would make it hard to sell the house on the traditional market, through a realtor.

However, there are selling options that are quick, easy, and relatively painless—selling for cash to a development company. These companies buy homes that they see great potential in—whether for renovation, the neighborhood, etc.—quickly, for cash.  

 

If your home is facing foreclosure, the Hometown Development team can help. We purchase properties in cash and can close on a sale in as little as 5 days. To avoid foreclosure, and move on with your life quickly, give us a call at 616-379-3090 or contact us online today. 

Buying a Remodeled Home vs. Building New

Posted on by Hometown Development

When you’re looking to move, the first question is always do you buy a home or do you build one? While there are benefits to both, you might find that buying a remodeled home rather than beginning new construction fits your needs best, especially if you have your perfect neighborhood in mind. If you’re weighing buying vs. building a home, here are the benefits of buying a remodeled home that you should consider.

 

Move in Quicker

Building a home can take months and months. First, there’s getting all the permits and clearances, then there’s the construction, and inevitably, there are some issues and delays. If you buy a remodeled home, on the other hand, the house will be yours and the keys will be in your hands much sooner after signing the contract than with new construction.

 

Spend Less Money

When you buy a home that’s already been remodeled, the only money you need to put into it is the purchase price. When it comes to building a home, a lot of your costs are going to be eaten up with building materials and construction labor. 

 

Location, Location, Location

If you’ve ever watched HGTV, you know that finding property in your dream neighborhood can be difficult. For the most desirable neighborhoods with great school districts, empty lots that you could build on are scarce to be found or simply nonexistent. If you really want to live in a certain part of town, a remodeled home can be your best chance of doing so, without having to settle for a run-down fixer-upper.

 

Less Hassle

Managing a new home build is difficult, even when you’re just the homeowner and you’re leaving most of it to the pros. There are all sorts of decisions to be made, budgets to stay on top of, and timelines to meet. That’s a lot for a busy person to take on, in addition to planning your move and balancing your everyday life. Buying a home that’s already remodeled means that you get the benefits of the remodel—a gorgeous, updated, contemporary home—with none of the headache or expense.

  

If you’re considering buying a remodeled home in the neighborhood of your dreams, be sure to check out Hometown Development’s completed and ongoing home renovations here in West Michigan! We’re always looking for buyers, and we’d love to work with you if you see an ongoing project you’re interested in. For more information about our available remodels and properties, contact us online or give us a call at 616-379-3090. 

Licensed Contractor

Licensed Builder
Licensed Real Estate Agent

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

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