If you are in the process of selling your home, nothing can be more anxiety producing than hoping that everything will work out and you will have a clean sale. Selling a home can be an emotional process as it is without the hassle that can result in the deal falling through. There can be a range of reasons that keep a home sale from being finalized, and it is important to know the main issues that can keep you from signing on the bottom line.
Low Appraisals Can Cause Major Problems
We all cross our fingers that our homes will appraise in high value, but when the appraisal comes back lower than the contract price, the deal may be over. Lender’s only lend buyers an amount up to the value of a property, which means that if the home appraisal is lower than the agreed amount, a buyer may not be able to secure a mortgage for the full price. Buyer’s can find ways of making up the difference, but if they are unable or unwilling to do so, they can pull out of the contract leaving you to begin all over again.
Trouble Securing Loans
When the housing market is roaring, buyers rarely struggle to secure mortgages for purchasing property. However, in uncertain economic times, buyer financial hardship is among the top home sale breakers. Even though buyers can be preapproved for a loan amount, they may still get rejected during the course of the mortgage process, leaving you left at the table with a deal dead on arrival.
Plan For The Known Sticky Spots
Insurance and title surprises should be planned for to insure that you are capable of tackling any issue that may arise. While some home sellers experience a smooth ride through this part of the process, unanticipated hurdles can spring up and cause you the sale of your home. Titles are important to the deal actually moving forward, don’t wait on the buyer’s report to find out your home title is not clear and clean, have your own report conducted in advance to insure you are ready to sell.
Remember You Have Options
One of the worst possible things a home seller can do is to feel backed into a corner. In order to get what you need out of your deal, you must remember that you have options. There are a variety of ways to sell a home, and you can decide to skip the entire worry of finding buyers and hoping deals are successful. Selling your home to companies such as Oakwood Capital offers you the ability to receive a cash offer with no hassle. This way of home sales has become popular as more an more people are unable or unwilling to wait out the lengthy and stressful process of waiting on buyer’s.
Selling a home should be an exciting and rewarding process, one that provides you with what you need to move forward in an unburdened manner. For questions about selling your home for cash, contact Oakwood Capital today.