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House 100 Percent Financed? No Equity?
The "low equity, no equity" situation is probably the most common real estate situation. In most cases, the homeowner will have tried to sell their house Fizbo (for sale by owner) with no luck. Eventually, they discover they are unable to sell their home. Then, their next step is usually to list it through a Realtor. The likelihood of selling the house becomes greatly reduced due to the fact that covering the Realtor's commissions and closing costs leads to a dramatically increased asking price. Since the price was synthetically increased, the probability of selling the house is reduced even further.
There is a catch 22 here. For even if they sell and some equity does exist, this equity is quickly eaten away by the Realtor's commission, closing costs, taxes, and holding costs. Which leaves the seller responsible for bringing a large check to the closing table.
You don't have to pay real estate commissions and you don't have to give away your equity, no matter how small it is, to a Realtor!
We purchase homes from people in situations like this all the time. In most cases, we are able to return some of money spent on equity to the homeowner through monthly installments. In other cases, we can at least reduce the amount of money they have to pull out-of-pocket at closing.
Don’t make expensive monthly payments on a house you don’t love, Contact “123” and help us help you take this financial burden off your hands once and for all!