An Option To Foreclosure by real estate agent
Are you or do you know someone that is facing foreclosure of his or her home in ? This is a frightening experience and one that will leave you bewildered and wondering what you should do next. Well there is another option that we will talk about in our discussion today.
Have you ever considered trying to find a buyer for your home that will allow you to stay in the home after the sale is complete, because you are going to rent it from him? This is a viable option, but one that we should take a closer look at so that you understand the advantages as well as the disadvantages.
Advantage #1 You wont be homeless
This is an obvious advantage, but one that does not need to be taken lightly. If you can arrange a sale/rent back option, you wont have to move and find a new place to live. You can stay in your home by just making regular monthly payments.
Advantage #2 Well defined information
When you are able to sell your house in this manner, then it is important that in your agreement, you define both the sale price and what the house is valued at from a rental standpoint.
Advantage #3 Repurchase Opportunity
For a lot of people, the foreclosure and poor financial situation is a temporary situation. If this is the case, then you want to spell that out in your agreement. The price that you will purchase it back will already be defined when you sell the house. Additionally as part of the agreement, you want to make sure that the opportunity to buy back the house will be an option for you.
Disadvantage #1 Low selling price
Remember that you will possibly sell this house at a price that will be below the value of the market for that house in . It is very possible that you wont feel that pinch very much as you also do not have to pay commissions such as real estate commissions.
There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate at www.pauldingandpolk.com. Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell at 404 374 1620 or email me at email@example.com
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