Need to sell fast but don’t have the equity? We understand– and there’s a quick option for you to sell your home to us by keeping the existing mortgage in place. We start taking over your mortgage payments immediately upon closing, and you can walk away with some cash in your pocket having skipped all the pains of selling your home on the market and without having made any repairs. This is called selling “subject to” the existing mortgage.
For investors like us, this means we get to absorb your excellent interest rate on your home which is certain to be better than current rates. We sign a contract with you and open escrow with the Title company just as you would in an on-market home sale. Your home is sold, the Title company ensures the deed is transferred, and we take over payments of the house. Often, we turn these homes into rentals or vacation homes while waiting for the mortgage to be paid down and the house’s value to increase before we sell and pay off the loan entirely.
This option may not be ideal for everyone, but if you need to quickly sell your home without taking a loss, this can be a great way forward and a huge relief. Send us a message and we can connect to discuss further.
