Are you thinking to yourself “I can’t sell my house in Little Rock Arkansas,”? Have you already put your Little Rock house up for sale and you are not receiving offers? Does your house need repairs before you can even sell it? Do not worry because you still have options!
The most obvious one may be to consider lowering your price. We get it, most people want to make a return when selling their house but that requires high house prices in the area, a sellers market, and for your home to be in the same or better condition then when you purchased it.
What are my options if I can’t sell my house in Little Rock?
We have compiled a list of things you can do when you can’t sell your house in Little Rock:
1) Hold Off On Selling For Now
You may have decided to sell your home during a bad time in the market. Whether it is a buyers market, during the winter, or around major holidays.
If it does not impact you financially, you may want to consider taking you house of the market and wait for the right market conditions to re-list it. Talk to a real estate professional in your area to determine the best time to sell your house in Little Rock.
2) Take Out a Second Mortgage
We only recommend this option if it makes sense for you financially – that is, paying a higher monthly payment. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things like investing in new real estate.
3) Rent Your Home to a Tenant
If you can’t sell your home now but you need to move or you are already living in another home then you should consider renting out the house. This will be helpful if you still have a mortgage out on it. The monthly rent will help cover the mortgage until you are ready to sell.
4) Short Sale
“I can’t sell my house in Little Rock because I owe too much on my mortgage!” This is an unfortunate situation to be in and can happen when you owe more than what the property is actually valued at.
Some lenders may be option to working out a solution that allows your to pay less than what is owed on the mortgage. If this is not an option for you then most lenders will allow a short sale on the property.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (501) 400-0505 for a no-hassle offer on your house.
5) Offer a “Lease-to-Own/Rent-to-own” Option
A lease-to-own (sometimes called rent-to-own) allows your tenant to purchase the house at the end of the lease. This timeframe is determined in the contract that is agreed upon. This is a great option if you are trying to sell a house in “fair/poor” condition and can’t find qualified buyers. They can start paying against the mortgage as they save up for a downpayment and work toward getting qualified for a loan.
I Can’t Sell My House in Little Rock CA!
If you are interested in learning more your options for selling your home in Little Rock Arkansas, call us at (501) 400-0505 or fill out the form on this page to get more information sent to you right away.