I Can’t Sell My House In Central Texas… Help!

You’ve likely already considered the first option: lowering your asking price.

Everyone hopes to sell their home for more than they paid, but if local prices are down, the economy is slow, or your property has structural or location challenges, adjusting the price may be necessary.

What are my options if I can’t sell my house in Central Texas?

Here are five other things you can try when you can’t sell your house in Central:

1) Take It Off the Market

You may be trying to sell your home at a difficult time, such as when many similar homes are on the market, during the winter months, or over the holidays.

If that’s the case, it may help to take your home off the market for a few months, if you can afford the mortgage, and wait for conditions to improve.

2) Take Out a Second Mortgage

If you have significant equity in your home, you might consider a home equity loan, provided you can handle the higher monthly payment. If that isn’t an option, you may be able to work with your lender on a loan modification or refinance an adjustable-rate mortgage into a fixed-rate loan with a lower interest rate. The funds can be used for other purposes, including real estate investments.

3) Rent Out Your Home

If you can’t sell your home and don’t want to carry two mortgages, one option is to rent it out. Ideally, the rent would cover most or all of your monthly mortgage payment. This can reduce your out-of-pocket costs, aside from expenses like maintenance, upkeep, and repairs.

4) Consider a Short Sale

“I can’t sell my house in Central Texas because I owe too much.” This situation can occur if you bought your home in recent years and now owe more than it’s worth, often called being upside down.

In some cases, you can work with your lender to accept less than the remaining mortgage balance. If the alternative is foreclosure, the lender may agree to a short sale.

You will need a buyer who can close quickly. We can help with that. Call us today at 254-493-2101 for a straightforward, no-hassle offer.

Keep in mind that a short sale may impact your credit. A pre-foreclosure record could make it harder to qualify for another mortgage for some time.

5) Offer a “Lease to Own” Option

A lease-to-own arrangement means renting your home to someone who has the option to buy it before the lease ends. This can be a helpful strategy if you are struggling to find qualified buyers. You can collect monthly rent along with a lease option fee while giving the tenant time to save for a down payment and improve their credit.

You can also include a lease premium in the monthly rent. This amount can later be applied toward the purchase. If the tenant decides not to buy, you keep the premium as income.

I Can’t Sell My House in Central Texas!

If you are interested in learning more your options for selling your home in Central Texas, call us at 254-493-2101 or fill out the form on this page to get more information sent to you right away.