- Even with a mortgage on your Los Angeles home, you can still sell to receive cash
- Establish the timeline when you need to sell the house and get your money
- Reach out to your mortgage lender and call Fair Sale Homes if you have questions
If you have been thinking about selling your home directly for cash but you have an existing mortgage, you may wonder how the process works. You can rest assured it’s common for sellers like you to sell their house directly and receive the remainder of the proceeds in cash after the lender has received the payoff for the mortgage.
Selling your home can be overwhelming, but you can relax by understanding how easy it is. So read on as we explore how to sell your house in Los Angeles directly, even with a mortgage.
Checklist for Selling Home in Los Angeles, if there is a mortgage balance:
- Remaining Balance
- Timeline
- Prepping
- Repairs
- Closing
Remaining Balance
Determine your remaining mortgage balance by contacting your mortgage lender to get a payoff statement. Your first step is to reach out to your mortgage lender to request your payoff balance to sell your house in Los Angeles. Of course, the amount they provide will differ from your remaining balance because the accrued interest is calculated in advance and expires within a given period; however, it provides an excellent estimate to calculate your profits. Next, local professional buyers like those at Fair Sale Homes will compare their offer to what you could earn by listing your home on the market. The professional buyers at Fair Sale Homes do this because we want you to make an educated decision with all of the facts in hand, so you’ll agree our offer is fair. And, the professional buyers at Fair Sale Homes don’t charge commissions, and there are never any hidden fees to come off the top of your profits at closing.
Timeline
When do you want to move? And when do you want or need your cash proceeds? Be clear with yourself on the answer to those two questions. To determine whether you should work with an agent to list your Los Angeles home on the MLS or sell to a direct home buyer like Fair Sale Homes, it’s helpful to establish your timeline and determine what you are responsible for in that timeframe.
Unlike the uncertainty of listing a home on the market (the MLS), local buyers at Fair Sale Homes can provide you with a guaranteed closing date. Fair Sale Homes has the advantage of built-in time and money-saving efficiency with a full-service team of industry specialists, including every pro needed to close swiftly, typically within 30 days. Our team will work with your lender to ensure that your mortgage balance is paid off, so that the money you walk away with is accurate and owed to you. If you need help finding a new place to live or help finding movers, we can help with that as well. In addition, the professional buyers at Fair Sale Homes are happy to work with you to schedule the best calendar date for the closing to make the process as convenient as possible for sellers; just let us know your plans.
Prepping
What is involved with prepping your property for a traditional sale through an MLS agent? Well, that typically includes removing clutter (such as that old BBQ grill or other unsightly belongings), mowing the lawn, pressure washing the house, cleaning inside and removing clutter, and possibly relocating many unsightly belongings to the garage or public storage if you don’t have space on the property.
Alternatively, prepping is different when you sell your house in Los Angeles directly, even with a mortgage. Because there’s no need to attract buyers, you don’t need to worry about curb appeal or adding a fresh coat of paint. In addition, the marketing costs, professional fees for photographers or stagers, and the hassles of showings are all eliminated through a direct sale. Professional buyers like those at Fair Sale Homes save sellers time, effort, and money. Leave behind anything you don’t care to take with you. You don’t even need to worry about a final cleaning, just pack and leave the rest to the professional buyers at Fair Sale Homes.
Repairs
In traditional home sales, sellers are convinced to repair their home to attract a higher price. Unfortunately, some sellers unnecessarily put forth time, effort, and money to repair items that don’t necessarily translate into a more money in their pocket when the sale closes.
While conventional home sales include prepping and making repairs, you can keep your wallet in your pocket when you sell your house directly in Los Angeles because professional buyers like those at Fair Sale Homes buy homes as-is. Whether the plumbing is leaking, the roof needs replacement, or the kitchen would benefit from a facelift, a direct buyer like Fair Sale Homes actually prefers you leave the repairs and remodels up to them.
In addition, the professional buyers at Fair Sale Homes will detail the numbers used to calculate the offer to buy your home directly.
Closing
While traditional closing fees can cost sellers a considerable chunk of their profits, you eliminate the closing costs when you sell your house in Los Angeles directly, even with a mortgage.
Professional buyers like those at Fair Sale Homes and their team save you time and money by handling the entire process in-house. And the amount your professional buyer from Fair Sale Homes offers is the amount of cash you’ll receive. If there is a mortgage balance, we’ll simply subtract that. There are no surprises when you directly sell to a professional buyer at Fair Sale Homes because we operate with total transparency.
If you’re even considering selling your house in Los Angeles directly, even with a mortgage, talk to one of our professional buyers at Fair Sale Homes today without obligation. At Fair Sale Homes, we understand the importance of clear communication and know it starts with listening. The local buyers at Fair Sale Homes are seasoned Los Angeles real estate investors who know that no one knows the selling points of your house the way you do. At Fair Sale Homes, we understand that many motivations may drive your home’s sale. Whether you’re under a time crunch (e.g. moving, divorce, job relocation, death in the family, retirement, etc.), facing financial difficulties, or can’t afford the necessary repairs (foreclosure, bankruptcy), our passion at Fair Sale Homes is helping our neighbors here in Los Angeles solve their home selling problems. We’re happy to answer any of your questions or concerns about the process at Fair Sale Homes.
Our goal is to help you make the most profit from the sale of your home. For example, suppose our professional buyers at Fair Sale Homes believe that listing your home on the Los Angeles real estate market would be better for your circumstances. In that case, they will tell you so because at Fair Sale Homes, it’s important to us that you feel good about the deal long after you leave the closing table.
Ready to learn more about how a professional buyer at Fair Sale Homes can help you? Call Fair Sale Homes at (626) 863-7006.