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Featured Posts

Tuesday, 19 January 2016

How Much Damage Is Too Much Damage Even for Investors?

You have done your research and have decided to sell your house AS-IS. You want to attract investors to your property because your home needs a lot of work. You don’t have the capital to do the work, but you begin to wonder if there are occasions when even an investor won’t buy your house fast. The following issues may keep homeowners from selling their property as quickly as they want to.

1.         Your price is too high.  Even investors have a limit on how much they are willing to spend. If the repairs needed to your home is extensive and the price is too close to the top of the market in your neighborhood, it won’t attract investors. However, the homeowner might have a mortgage balance that keeps them from being able to reduce the price.

2.         Water damage is present. Investors have to be assured that their capital will be turned into a profit at the end of the day. If a home has a lot of water damage, the cost to repair the structure might make the investment not worth it to pursue. Water damage can be caused by flash flooding, an appliance mishap, sewer backup, etc. If you want to sell your house fast, you should make sure you don’t have water damage.

3.         Mold is present. If you have water damage, you may have mold and mildew. Both of these organisms will make the resale difficult and can be a remodeler’s nightmare.

4.         You have termites. The insects that need wood to survive scare owners, investors and real estate agents alike. They can cause serious damage. If you are worried about termites, you should get an exterminator to treat your property to stop the spread of these insects. Replacing sections of drywall is something that most investors won’t balk at, however live termites may cause a potential sale to fall apart. 

5.         Your foundation is cracked. Foundation issues are extremely common, especially in properties that may have been sitting vacant for a while, such as inherited homes. Also, houses are especially prone to problems in states like Texas where the soil has a large amount of clay. They become extremely problematic when they are bad enough that moisture starts to seep into the crevices. Foundation issues tend to concern investors because it leads to a domino effect of other repairs such as plumbing.

6.         You have a leaky roof or an old one. Roofs should be replaced about every 20-30 years. If your home is older than 20 years, and it has the original roof, you might make investors to shy away from your property. Replacing an entire roof could cause the rehab budget to skyrocket, and therefore the investor is not able to pay what you desire for the property.

7.         Electrical and plumbing aren’t up to code. Every era had its own electrical and plumbing codes. While the codes change over the years, the homeowners rarely bother with updating their electrical and plumbing. This is especially true if you want to sell your house fast in Denver, where a high percentage of older homes still have corroded galvanized pipes.


If your home falls into one of these categories, you might not be out of luck. Some companies, such as Whitestone Acquisitions, have extensive experience handling all of these problems. Whitestone Acquisitions is willing to take on these remodeling challenges. As the homeowner, it is always advised that you get your own bids for the repairs so that you are prepared to negotiate the price with investors.

Sunday, 22 November 2015

Why You Need to Sell Quickly to Save Your Credit



Are you overwhelmed with too many debts? Have you filed for bankruptcy, or need to sell your home fast to avoid foreclosure? You aren’t alone. Many homeowners face situations that could damage their credit rating if they can’t pay the bills. Many people are underwater on their home mortgage, which means that their mortgage balance they are paying on is greater than the fair market value of the home. For these reasons, you will want to sell your home fast to eliminate one of your debts. You can try federal housing programs to help you, or you can sell to an investor quickly.

 sell your house fast

Avoid Foreclosure

If you have missed more than three months of mortgage payments, you might have received a stern letter from the lender that it will begin foreclosure proceedings. In this case, you would be motivated to sell your house fast. You will have to do some research to find the right investor. For example, if you choose a real estate investment company, you would not have to complete costly repairs to your house to sell it fast. You also would get the benefit of quick cash that you can use to pay your other obligations. The proceeds of the sale would go first to pay off the lien, and the remaining would be your discretionary funds. 

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Loan Modification Goes South

You decided to use the Housing and Urban Development Administration’s Home Affordable Modification Program (HAMP): HAMP lowers your monthly mortgage payment to 31 percent of your verified monthly gross (pre-tax) income to make your payments more affordable. The typical HAMP modification results in a 40 percent drop in a monthly mortgage payment. Eighteen percent of HAMP homeowners reduce their payments by $1,000 or more. Click Here for more information. However, not every homeowner qualifies for this program. Also, not all lenders are willing to give you a loan modification. If your application for a loan modification is denied, you could turn to using an investor to sell your house quickly.

sell your house fast

House Is Set for Auction

Despite your best efforts to catch up on payments or apply for loan modification, the bank has scheduled your house for auction. You may be unable to stall the auction date. The only way to ensure that potential profits go into your pocket is to sell your house fast to an investor who has experience buying these homes and works with a reputable title company. Time will be of the essence, so it is of the upmost importance to go under contract with experienced investors with an excellent closing track record. It would be a joint effort between you as the seller, and the investor, to get the title company everything they need to close the transaction quickly. An investment company like Whitestone Acquisitions can easily guide you through the process and make sure your credit remains unblemished. 

sell your house fast

Save Your Credit

Not paying your mortgage is disastrous to your credit, and will show up on your report for 7 years. This not only causes issues for future financing, but potential employers pull credit and often believe that if you have trouble meeting your financial commitments, you also will have trouble meeting the commitments the employers ask of you. This stress could be completely eliminated if you sell to an investment company, such as Whitestone Acquisitions, that will pay mortgage, closing costs, past due property taxes and even overdue homeowners association fees. 

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If you have questions about what your home is worth, you can find the answers online at www.whitestoneacquisitions.net.