Well, well, well, looks like someone got a little too excited in a bidding war and overpaid for their property! Or maybe they just fell behind on their mortgage payments and now they’re in a bit of a pickle. And don’t even get me started on those pesky property values that just love to dip at the most inconvenient times.
Now, if you find yourself in the unfortunate position of owing more on your mortgage than your house is currently worth, don’t panic! Okay, maybe panic a little, but then take a deep breath and consider your options. You don’t want to end up making a costly misstep and end up in an even worse situation.
So, whether you decide to sell your house and cut your losses, or wait it out and hope for a market turnaround, just remember: the real estate game is a fickle mistress, and she can be a real pain in the you-know-what.
With so many decisions ahead, being fully informed and weighing the benefits of each will help you feel confident in the action you take. So read on as we explore four things you can do if you are upside-down on your mortgage in FL.
Assessment
Alright, listen up folks. If you’re currently stuck in a situation where you owe more on your mortgage in FL than your house is worth, don’t you fret. The first step is to get a realistic understanding of where you stand. And no, that doesn’t mean just closing your eyes and hoping for the best. Contact your lender and find out exactly how much you owe on that mortgage, and then schedule a professional appraiser to get some concrete numbers.
Now, if you’re feeling overwhelmed by the thought of listing your house and dealing with all the prep, cleaning, and repairs that come with it, fear not. Professional buyers like those at Gulf Coast Home Buyers are here to save the day! We want you to make an educated decision about your future, which is why we’ll compare what you could earn from listing with our offer to buy your house directly as-is for cash. And don’t worry, we’ll provide you with all the details used to calculate our offer so that you can be sure it’s fair and square. We want you to feel good about working with us long after the closing, so let’s get this show on the road!
Short Sale
Naturally, you want to try every option if you are upside-down on your mortgage in FL; while a short sale has some consequences, they don’t compare to the fallout from claiming bankruptcy or a foreclosure on your credit record. Professional buyers like those at Gulf Coast Home Buyers are highly seasoned negotiators who can work out a short sale with your lender. A direct sale to one of our professional buyers at Gulf Coast Home Buyers makes it easy to solve your home selling troubles in FL.
Pay the Difference
Another thing you can do if you’re upside-down on your mortgage in FL is to sell the property and bring the amount owing to the closing table to pay off the remainder of the mortgage. With a direct sale of your FL house to professional buyers like those at Gulf Coast Home Buyers, you’ll get a fair value and won’t pay any hefty real estate commissions. At Gulf Coast Home Buyers, our professional buyers operate with total transparency. At Gulf Coast Home Buyers, there are no hidden fees, and because of our full-service in-house team of industry specialists, you won’t pay any closing costs, and we can provide you with a fast, guaranteed closing day. Or talk to your professional buyer from Gulf Coast Home Buyers about selecting the best calendar date for your closing.
At Gulf Coast Home Buyers, our professional buyers are the best option if you are upside-down on your mortgage in FL and need to sell. At Gulf Coast Home Buyers, our professional buyers stop everything and listen to sellers to help find the best resolution for your situation. Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your FL house. At Gulf Coast Home Buyers, we are your neighbors who live and work alongside you, and we are proud of the work we do helping FL sellers with unique and individualized solutions, one seller, one property at a time. So why learn more about the difference a direct sale of your house can make by talking with a professional buyer from Gulf Coast Home Buyers for yourself without obligation? Call Gulf Coast Home Buyers at (850) 972-0550.