Contact Us Now to find out how to sell a house with no equity in Central Ohio – click here
Selling a house with little to no equity can be challenging, but in Central Ohio, there are strategies and opportunities to help homeowners navigate this situation. One notable option is working with Central Ohio Real Estate Investment LLC (CORI LLC). CORI LLC specializes in purchasing properties with no equity, offering terms instead of cash, which allows them to pay a higher market price. Here’s a comprehensive guide and checklist to help you understand the process of selling your house with no equity.
Key Points
- Understanding No Equity: No equity means the property’s market value is close to or less than the remaining mortgage balance. Traditional selling might not cover the loan payoff, but alternatives exist.
- Working with CORI LLC: Unlike many investors who require deep discounts, CORI LLC’s business model focuses on holding properties for long-term cash flow, enabling them to pay more for properties, even those with no equity.
Step-by-Step Checklist
- Assess Your Situation
- Determine the market value of your home.
- Calculate the remaining balance on your mortgage.
- Identify the amount of equity (or lack thereof).
- Explore Selling Options
- Traditional Sale: Selling with a real estate agent might not cover the mortgage if you have no equity.
- Short Sale: If you owe more than the home’s worth, a short sale might be an option, though it can impact your credit.
- Terms Sale: Consider selling to a company like CORI LLC, which offers terms instead of cash.
- Contact Central Ohio Real Estate Investment LLC
- Reach out to CORI LLC to discuss selling your house with no equity.
- Provide details about your property, including the mortgage balance and any financial constraints.
- Understand CORI LLC’s Offer
- CORI LLC focuses on monthly cash flow rather than immediate resale profits.
- They pay a higher market price by using terms, which could include seller financing, lease options, or subject-to agreements.
- Evaluate the Benefits
- No need for deep discounts: Unlike other investors, CORI LLC doesn’t require substantial discounts to make a profit.
- Long-term holding: CORI LLC holds properties for cash flow, allowing them to pay more than other investors in the market.
- Negotiate and Finalize the Terms
- Discuss the terms of the sale with CORI LLC, including any potential lease options or seller financing.
- Review the agreement carefully and ensure you understand the terms.
- Close the Deal
- Work with CORI LLC to finalize the sale.
- Ensure all paperwork is completed, and any financial arrangements are clear.
- Transition to Your Next Steps
- Plan your move and transition smoothly to your next home.
- Consider the financial impact and any new housing arrangements.
Contact Us Now to find out how to sell a house with no equity in Central Ohio – click here
Why Choose CORI LLC?
Central Ohio Real Estate Investment LLC stands out in the market because of its unique approach:
- Higher Market Price: By focusing on cash flow, CORI LLC can offer more for properties compared to other investors who require significant discounts.
- No Immediate Resale: CORI LLC holds onto properties, prioritizing long-term returns over quick resale profits. This strategy benefits sellers, especially those with no equity, by offering fairer terms.
- We use a 3rd party mortgage servicer to service the current loan. This enables you to purchase a new house with new lender financing.
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By following this guide, homeowners in Central Ohio can find viable solutions for selling their houses with no equity. Central Ohio Real Estate Investment LLC offers a unique and advantageous option for sellers, providing a pathway to a successful sale without the need for deep discounts.