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selling a house that needs too many repairs

How to Sell a House that Needs Significant Repairs?

Selling a house in Bakersfield, CA, can be a challenge, especially if the property requires significant repairs or maybe a full remodel. You might have a home that’s outdated and unsafe. You may be moving out of city or state and don’t have time to deal with a home that needs too many repairs.

It is challenging to sell such a home in the retail market because customers are looking for a ready-to-live home. They don’t want to buy a house that burdens them with repairs.

When you are thinking about selling a house that needs too many repairs, you get to choose between a few options. You can decide to remodel the house and sell it in the retail market. Alternatively, you can sell your home as-is for cash.

Option1: Renovate the House

Depending on your finances & timeline, it might be best to do a full remodel. First, hire a property inspector who will guide you about the required repairs.

Then, you’ll need to find local contractors who can give you a competitive quote for the work required. It’s an expensive choice, but after a complete remodel, you can sell your home at a reasonable price in the retail market.

Option 2: Make Only Significant (Major) Repairs

Your home has to be functional & safe before you can sell it in the retail market. You’ll need to focus on five essential sections:

  • Roof
  • Foundation
  • Plumbing structure
  • HVAC
  • Electric systems

These renovations will add value to your home, but they are going to cost money. Foundational repairs require your immediate attention and are also expensive. The ROI might be worth the trouble. You have to decide whether you have the time & money to handle these significant repairs.

Your inspection report will be your guide here. You’ll know which sections require minor repairs, and where you’ll need to do the work. It would be best to contact at least 3 local contractors so you can know the exact cost of repairs.

Option 3: Sell Your Home As-Is

It can cost thousands of dollars to repair the house. Let’s be honest. Many of us don’t have the cash to pay upfront for repairs and renovations. If you are stressed out, or you can’t make repairs, you can sell your home as-is. You can sell your home as-is to a house buying company.

A local house buying firm such as Eagle Creek Investments makes it easy to sell your home fast for cash. If your home needs massive repairs, this could be the best route for you.

Our company offers you a hassle-free selling process. With our quick process, you can sell your home in as little as 10-14 days. First, contact us and let us know you’re considering to selling your home. We’ll then schedule a tour of your house based on your schedule. Our team will visit your property so we can review the condition of the house or if you are on a time crunch we can do this right over the phone. After our visit, you’ll receive a fair cash price offer for your property.

We can close the deal quickly. You can take your time to think about the offer, and we’re available to answer any questions you might have.

Once you accept the offer, we’ll get the paperwork ready, and we’ll close on the date of your choice. Since you are selling directly to Eagle Creek Investments, you don’t have to worry about hefty commissions, closing costs, or repairs. Our team will handle all the details, and we’ll keep you informed every step of the process. It’s that easy to sell home with us.

Click here to sell your home that needs significant repairs.


How to Sell an Inherited Property?

Selling inherited property is different from selling any other property. You may not own the house clear & free. There are other people involved, and you need court permission before you can decide about the house.

Legal paperwork, court notices, and validation of the will can take time. If you are looking to sell your inherited property, keep reading this article to know the process and the easiest way to sell an inherited property in Bakersfield, CA and associated areas.

I Inherited a House and Want to Sell It— What Are My Options?

There are various ways to sell an inherited house, but understanding the process will make it easier. If you are the sole owner of the property, you don’t have to worry about the prolonged probate process. As soon as the probate court gives you permission to sell, you can sell the house.

Sale proceeds are divided when the probate process is complete. Before the heirs can receive their share, it’s mandatory that all taxes & dues are paid.

Most people ask whether it’s possible to avoid the probate process. In some cases, yes. If a small real estate procedure is applicable, you can claim your share by signing a simple affidavit. However, the short process is valid only for estates valued at below $166,250.

A better way is to connect with a house buying firm in CA. Our company, for example, will take care of all the paperwork and the probate process. You won’t have to worry about legal matters or the complicated probate process.

Selling an Inherited Home—Conventional Way

The probate process can take six months to two years. After the probate process is complete, you can list your home with an agent. Selling with an agent will need another 3-6 months because you’ll need to repair the house. The house must be in a topnotch condition if you want a retail sale of your home. You’ll need to invest time in photography, marketing, and open house events. Once you find a buyer, it can take anywhere from 45-60 days to close the deal.

It is the conventional way to sell your home with a realtor; however, it’s not always the best choice. Facing the death of a loved one, and handling legal matters is an exhausting task. It would be best to sell your home as-is to a cash buyer who will deal with repairs later. You can deal with the matter privately without having to involve other people.

Selling Home to a Local Cash Buyer in Bakersfield

When you are selling an inherited property, a local cash buying company can help you. They know the local area, and they can present you with an all-cash offer within 24 hours. When a local cash buyer sends an offer for your inherited property, they consider the house liabilities, any debts that must be paid from the sale proceeds, and the required repairs. Repairs take time & money, but you don’t have to worry about them because investors will be buying as-is.

A local, family-owned company such as Eagle Creek Investments can also handle all of the paperwork, including the probate process. Our experienced team will deal with legal matters, and we only need a couple of signatures from you. After contacting us, you can relax and let us take care of the rest. After the probate process is complete, we can buy your home as-is for a cash price. It’s a direct sale, so you don’t have to worry about repairs, commissions or closing costs.


Step-by-Step Process to Stop Property Foreclosure

There are various reasons; a house ends up in foreclosure. Divorce, sudden illness, death, job loss, and unfavorable conditions make it challenging to keep up with mortgage payments. In this article, we’ll discuss strategies to stop foreclosure because of missed payments or financial struggles.

Step by Step Process to Stop Foreclosure Now

Mortgage Forbearance

Are you experiencing a sudden shift in your income?

Get in touch with your loan servicer. According to federal law, the bank cannot foreclose your house until 120 days have passed without payment. You can use this time to stop foreclosure on your home.

You’ll need a documented proof or a hardship letter. Depending on the circumstances, your mortgage servicer can suspend your payments for a while. The pending installments can be later paid as a lump sum, or your lender can apply them to monthly payments. Mortgage forbearance is a great option if you haven’t yet missed a mortgage payment.

After 120 days, the bank can foreclose your house without delay. Before this stage comes, it might be a better option to sell your home for cash. Click here to see how this option works.

Loan Modification Programs

As a part of the process, you’ll hear from the loss mitigation department. Modifying your mortgage is a possible way to stop foreclosure.

Your mortgage servicer can reduce your monthly installments by increasing the repayment period. Doing so won’t reduce the debt, but for now, mortgage payments will become affordable.

There is no guarantee that the bank will approve your loan modification application. While your application is getting approved, the bank can continue to foreclose your house. It is critical to communicate earlier with the lender so you can consider other options.

Loan Reinstatement

You can bring your loan current by paying missing mortgage installments along with the late-payment fine. In most states of the US, you can reinstate your mortgage until 5 days before the foreclosure date. After that, the lender accelerates your loan, and you’ll have to pay the full loan amount to stop foreclosure.

Paying the mortgage has become a challenge. That’s why you are here. It is apparent that it was not possible to reinstate your mortgage. Still, we invite you to take a second look at your finances. You can take a second loan to bring your mortgage current. Selling a luxury item might be an option. An approved financial counselor can help you explore your options in this regard.

Deed in Lieu of Foreclosure

After 120 days, the lender can initiate the foreclosure process. Depending on the type of procedure (judicial/non-judicial), it can take a few weeks to a few months before the bank takes over the property. If you cannot come up with a plan, you can accept a deed in lieu of foreclosure.

It means you are voluntarily giving your home back to the bank. Lenders accept this solution because a foreclosure is an expensive choice. Deed in lieu of foreclosure will damage your credit score, but its effects are less severe compared to a foreclosure sale.

Filing Bankruptcy

Bankruptcy chapter 13 can stop foreclosure in its tracks. The creditors must stop their attempts to collect payment. If the court approves your application, you can pay your debt in 3-5 years. A court appointed trustee will manage the transaction, and you’ll be able to keep your home. Please consult a HUD-approved counselor to see whether filing bankruptcy is a suitable option.

Sell Your Home Before Foreclosure

A foreclosure will remain on your credit report for seven years. Bank will hold a foreclosure auction to sell your home. You can avoid this situation by selling your home to a local real estate solutions company. A trusted firm can provide you with a much-needed solution. They can purchase your home as-is for a cash price. You’ll be free from debt, and your credit report will remain safe. If you need assistance, please visit this link or call us now to understand the process better.

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