Owing more than your house is worth is not a favorable position if you should need to sell, even more so if you are under pressure to sell quickly for personal or financial reasons. Often already under a great deal of stress, taking on the sale of a house can seem like an overwhelming proposition. However, understanding your options can help you feel confident in your final decision about how you sell the house, which can significantly impact how much you profit. So read on as we explore how to sell your house in Madison if you owe more than it is worth.
Commissions
When selling your house in Madison, especially if you owe more than it’s worth, real estate commissions can quickly erode any potential profits. Traditional agents typically charge around 5-6% of the sale price, which could mean you end up owing money at closing. For example, on a $200,000 house, this could be as much as $12,000—a significant amount if you’re already financially strained.
Instead, at Northwoods Property Resources, our local professional buyers offer in cash the exact amount you’ll have in hand after closing. And you won’t pay closing costs because at Northwoods Property Resources, our professional buyers provide a full-service in-house team of industry specialists to handle everything quickly and efficiently, allowing us to offer a guaranteed closing date, often within days. Or talk to your professional buyer at Northwoods Property Resources about selecting the best day for your closing, and we’ll work with you.
Prep and Repairs
Preparing your house for sale is crucial for maximizing your potential profit, but it can be daunting when you’re already under financial pressure. As seasoned professionals in the Madison real estate market, we understand the challenges you may face. At Northwoods Property Resources, we recognize that making repairs and renovations may not always be feasible, especially when you owe more than your home is worth. That’s why we offer a transparent analysis of your options. We provide detailed insights into the potential returns of investing in repairs and listing your property versus selling it directly to us, as-is. Opting for a direct sale means you bypass the stress of passing inspections and the uncertainty of repairs, as we assume all associated risks. Moreover, you can avoid the time-consuming process of staging and showing your home when you choose Northwoods Property Resources as your trusted partner in selling your Madison property.
Current Market Value
If you’re facing the looming threat of foreclosure due to missed mortgage payments, it is best to take quick action. However, the prospect of selling your house in Madison when you’re underwater on your mortgage can seem impossible. As investors in the Madison real estate scene, we understand the urgency and complexity of such situations. At Northwoods Property Resources, we specialize in guiding homeowners through short sale processes to sidestep the specter of bankruptcy or foreclosure. Our team can help with navigating the intricacies of lender negotiations. We’re committed to protecting your financial well-being and mitigating the adverse effects of inaction, including potential damage to your credit score.
Choosing to sell your house in Madison to Northwoods Property Resources presents the most favorable solution if you owe more than it is worth. With a straightforward process that is fast and simple, the professional buyers at Northwoods Property Resources and their team are proud of their work here in Madison and operate with a policy of total transparency.
As your neighbors in Madison, we share a vested interest in the well-being of our community members. Our dedication extends beyond mere transactions; we are driven by a genuine desire to assist and support those in need. At Northwoods Property Resources, we recognize the significance of this decision in your life, which is why we prioritize providing you with all the necessary information to make an informed choice because we want you to feel good about the deal long after closing. Call Northwoods Property Resources at (920) 851-9727.