Not Enough Equity To Pay The Costs Of Selling
Selling A Home in Albuquerque, Rio Rancho and all of New Mexico
How To Sell Your House Without Enough Equity
Traditionally in real estate sales, the seller pays for most of the cost of the transaction. Typical costs can be real estate commissions for both the buyer’s and seller’s agents, title insurance, escrow fees, real estate taxes, and often even fees for the buyer’s new loan.
In most cases, these costs will be in the range of 10% or more of the negotiated selling price. In today’s economy, money is tight for everyone. Particularly with FHA buyers, an additional 3% can be negotiated and come out of your sales proceeds. That means that for every $100,000 in the selling price, between $10,000 and $13,000 will be taken out of your proceeds at closing. $10,000 to $13,000 is a bitter pill to swallow for any home owner!
No wonder many sellers simply cannot afford to sell under these conditions. If you’ve bought your home with 100% financing in the last 5 to 10 years you most likely don’t have enough equity to cover these costs. And even if you’ve put up a 5% or 10% down payment, you may still be “under water” due to the declining markets and no appreciation.
We don’t need your closing costs. That’s why we are the best solution for you. At Nickel Mesa Real Estate Investments, we have solutions for many different situations – yours could be one of them! If your property meets our buying criteria, we can buy your home even if you cannot afford to pay for the cost of selling, and we will even cover any closing costs for you.
Find Out How We Can Help!
Life Happens. We’ll work with you and make you an offer on your property. We pay cash and close quickly, without any cost to you.
We help people out of bad situations. You have options when it comes to selling your house in today’s buyer’s market. We help you by selling your home quickly and allowing you to move on with your life.
We represent an active network of experienced active real estate buyers, looking to buy homes that need repairs from sellers looking to sell quickly. We buy houses, rental properties, duplexes, townhouses, multi-tenant buildings, and commercial property.
Whether you are selling an unwanted home, buying a new home, or looking for a rental property, we are here to help! We want to arm you with the knowledge to make the best decisions and save you valuable time and money.