Homeowners in Kansas City know how difficult it is to get their properties sold through the conventional manner. Not only do banks not want to lend money to new home buyers, but sellers are finding themselves in the impossible situation of trying to compete with the continuing glut of new construction that is flooding the local housing market, particularly north of the city and south of the Olathe area.
Many homeowners are discovering that it is taking many months to sell their property, if they sell it at all. It's no surprise then that many homeowners are turning to other methods of selling, particularly selling "Subject To" to local investment companies. What does "Subject To" mean? It means the company will be responsible for your payments and maintenance. They then put a tenant/buyer in the home, and work to get them financed. At that time, they will be getting the home re-financed in their name. Some of the benefits of this method for the seller are the following:
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Fast and Flexible Sale
When selling through conventional means, you can be waiting for many months before a qualified buyer even expresses interest. This is the case even in high demand areas in Kansas City like Blue Springs. However, when sellers offer to sell "Subject To", they can typically receive offers in less than 48 hours.
No Commissions
Typically, when selling your property through a Realtor, you must pay approximately 6% of the purchase price in the form of a commission. For example, the average home cost in the Liberty area, north of Kansas City, is around 0,000. That means that to sell that property, you would end up paying approximately ,800 dollars in commissions. If you don't have much equity in your home, that means you have to bring that cash to the closing table. When selling "Subject To", you don't have to pay any commission costs because there aren't any!
Fast Relief From Payments
Let's say you just had to move to the Grain Valley area from Gardner for a new job. While your old house in Gardner is on the market, you still have to make the mortgage payments on it. That means you would be making two mortgage payments per month! In this economy, few people have the resources to do that. Selling "Subject To" to an investment company gets sellers immediate relief from their monthly mortgage payments.
These are just three of the many benefits of selling your house "Subject To". There are many more. With all the benefits that are associated with it, it's no surprise that the popularity of selling "Subject To" is growing in Kansas City.
Michael Friedl
Benefits of Selling Your House "Subject To" in Kansas City KANSAS CITY