If you’ve found yourself saying, “I can’t sell my house in Dallas TX,” this article is for you. Maybe you’ve been trying to sell your Dallas house for a while now and haven’t received any offers, but don’t panic! You still have a few options at your disposal to help you sell your house at a fair price.
If you’re saying I can’t sell my house, then you’ve probably already tried this one: Lowering the asking price.
Everybody wants to sell their house for more than they paid for it, but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problem, you may have to reduce your asking price. So if lowering the price hasn’t been the solution, here are some other options below to help get your house sold…
What are my options if I can’t sell my house in Dallas?
Here are five other things you can try when you can’t sell your house in Dallas:
1) Take It Off the Market
You may be trying to sell your home at the wrong time, like the at the same time that there are a lot of other houses just like yours on the market, or during the winter months when it’s cold outside, or during the holidays when everyone’s preoccupied with festivities and not really thinking about moving while holiday shopping is on their brain.
If this is the case, you might be best served by taking your home off the market for a few months – if you can afford to keep paying the mortgage – and wait until market conditions improve.
2) Take Out a Second Mortgage
If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. 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 with a lower interest rate. The loan can be used to fund other things, including real estate investments.
3) Rent Out Your Home
If you can’t sell your home and don’t want to hold two mortgages (your old home and your new home) one option may be to rent out your home at or near the price of your monthly mortgage payment. That can allow you to apply the rent to your mortgage without having to incur any additional expense – other than upkeep, maintenance and repairs.
4) Consider a Short Sale
“I can’t sell my house in Dallas because I owe too much!” This can happen if you purchased your home within the past few years and currently owe more than the home is worth (called being upside down).
In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like your other option is foreclosure, then your lender probably will accept a short sale.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can at Jamie Buys Houses! Give us a call today at 972-318-9500 for a no-hassle offer on your house.
Keep in mind, however, that short sales can still affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.
5) Offer a “Lease to Own” Option
A lease to own option is when you rent your house to somebody with the option to purchase your home at or before the lease expires. This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the road.
You also can add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to buy your home – you can keep it as additional income.
I Can’t Sell My House in Dallas TX!
If you are interested in learning more about your options for selling your home in Dallas TX, call us at 972-318-9500 or fill out the form on this page to get more information sent to you right away.