You’ve come to our page because you’ve come to the conclusion, “I can’t sell my house in Atlanta Georgia.” Do not be concerned if you have been attempting to sell your Atlanta home for some time now and have received no bids. You still have a few choices available to you in order to sell your house quickly and for a reasonable price.
At the very least, you’ve undoubtedly attempted the first one at some point: Bringing the asking price down.
All homeowners desire a higher selling price for their property, but if housing prices in your area are low, the economy is weak, or your home has some form of structural or locational problem, you may have to lower your asking price to attract a buyer.
What choices do I have if I am unable to sell my house in Atlanta?
When you are unable to sell your home in Atlanta, you might attempt the following five other options:
1) Remove it from the market.
Trying to sell your home at a terrible time, such as when there are a large number of other houses much like yours on the market, during the winter months or over the holidays, can be quite difficult.
As a result, you might be better off taking your property off the market for a few months – provided you can manage to keep up with mortgage payments – and waiting until market circumstances improve.
2) Take out a second mortgage to supplement your income.
In the event that you have accumulated a significant amount of equity in your house, you may choose to consider taking out a home equity loan – provided that you can afford the larger monthly payment. It is possible to renegotiate your loan modification plan with your lender or convert your adjustable-rate mortgage into a fixed-rate mortgage that provides lower interest rates if you do not meet these requirements. Aside from real estate ventures, the loan can be utilized to fund a variety of other endeavors.
3) Make Your House Available for Rent
If you are unable to sell your home and do not want to be saddled with two mortgages (one for your old home and one for your new home), one alternative may be to rent out your home for a price that is equal to or less than the amount of your monthly mortgage payment. The rent can be applied to your mortgage, and you won’t have to pay any further expenses – other than the costs of upkeep, maintenance, and repairs.
4) Take into consideration a short sale.
Because I owe so much money, I am unable to sell my house in Atlanta. Purchasing your home within the last few years and owing more on your mortgage than your home is currently worth is one way to end yourself in this situation (called being upside down).
In some cases, you may be able to persuade your lender to accept a lower payment than the amount you owe on your mortgage. If it appears that the only other choice is foreclosure, your lender is likely to agree to a short sale in this situation.
In order to accomplish this, you’ll need to bring on a buyer who is able to close swiftly. We are fortunate in that we can! Make a no-obligation offer on your home by calling us at (404) 855-0944 today.
Keep in mind, though, that short sales might have a negative impact on your credit. In some cases, redeeming a pre-foreclosure on your credit history may preclude you from qualifying for a mortgage in the future, at least for a period of time.
5) Make a “Lease to Own” option available.
When you rent your home to someone with the option to purchase your home at or before the lease expiration date, you are referred to as a lease to own option. If you are unable to find suitable buyers, this is a viable alternative because you may earn rent plus a lease option fee from a tenant while also allowing them time to save money for a down payment and develop their credit in order to qualify for a mortgage to purchase your house later on.
As an additional incentive to them, you might include a lease premium in their monthly rent that can be applied to the down payment later on or kept as income if they do not exercise their option to purchase your house.
I Can’t Sell My House in Atlanta GEORGIA (GA)!
If you are interested in learning more your options for selling your home in Atlanta Georgia, call us at (404) 855-0944 or fill out the form on this page to get more information sent to you right away.