Is It Possible to Sell my Houston Property If I Have 0 Equity

Probably the most common advice you’ll get when you ask how to sell a house with zero equity is to do it through a short sale. Also known as a compromise sale, a short sale happens if both the lender and the homeowner agree to selling the house to avoid foreclosure. The bank will agree to incur a loss on the sale and will then remove any outstanding debts on your mortgage. If you’re thinking about doing a short sale, make sure to get the agreement in writing as there have been instances wherein the homeowner was still required to pay the lender a hefty sum even after a short sale.

Another common route to take is by selling the home through a realtor. When you partner with a realtor, you’re not just paying for them to show your home to potential buyers. You’re also paying for their expertise in Houston, Texas real estate laws. And yes, this includes knowing how to deal with homes with zero equity.

Partnering with a realtor will save you time and effort understanding legalities, putting up open houses, and dealing with potential buyers. This comes with a (literal) price though. Realtors come with realtor’s fees. And closing deals. And commissions. If your home has no equity, chances are you’ll want to keep every penny of that sale. So selling through a realtor may not be the best option for you.

As the name implies, this process involves the homeowner selling the house themselves. While not for everyone, FSBOs can be possible for experienced homeowners who know how the home selling process works. FSBOs is a good way for homeowners to keep the entire sales proceedings. The thing about FSBOs, they can take some time to complete. If you don’t have a buyer at hand, you’ll have to go through open houses and showings, which can take several months. And, after you find a potential buyer, there are papers to draft and sign, which adds more time to an already tight schedule. If you’re trying to beat foreclosure, FSBOs may not be right unless you have a buyer already lined up.

The last option we have for you is to sell to a professional cash homebuyer in Houston, TX. When you partner with a cash homebuyer company like Ohana Legacy Properties, LLC., you can rest assured knowing you’re getting the best deal possible for you home while walking away with 100% of the profits.

There are no middlemen or indecisive buyers to contend with. Best of all, you get a fair offer within 24 hours, so there’s also no waiting involved.

For instance, you start the homebuying process with Ohana Legacy Properties, LLC. at 9 in the morning. After an initial assessment done on your home, you can request for a fair, no-obligation offer on it. Before the day ends, you can expect to receive an offer on it. If you decide to accept the offer, you can then select a closing date. No need to worry about open houses or messy paperwork.