GET STARTED | Get Your Fair Cash Offer Today

  • This field is for validation purposes and should be left unchanged.

How to Sell a House With No Equity in Bonita Springs

Unfortunately as the real estate market shifts, more and more people will have to figure out how to sell a house with no equity in Bonita Springs. And unfortunately some will end up in a short sale, foreclosure or bankruptcy position. All of which we want to help you avoid. We Have No Equity Home Sale Options!

Our goal is to help you avoid any situation where your family’s financial foundation is compromised. So read on as we explore selling a house with no equity in Bonita Springs.

Short Sale your House with No Equity in Bonita Springs

This is my least favorite of the three ways we talk about in this article on how to sell your house with no equity in Bonita Springs… But its much better than a foreclosure!

After attaining the approval of their lender to sell for less than the amount still owing on the mortgage, short sales allow homeowners to sell a house with no equity in Bonita Springs.

sell my bonita springs short sale house

In a short sale real estate transaction, you and your real estate agent will be doing a great deal of leg work to get all of the appropriate information to your lender in order for them to accept less than you owe for the mortgage thus avoiding foreclosure if you are in default.

This can include but not limited to a hardship letter, income / expense sheet, bank statements, tax returns, pay stubs, release and authorization form and an accepted offer between you and a buyer “subject to lender approval.” You can review the entire short sale process here.

If approved, (and there is no guarantee of a short sale approval), expect your credit score to lower for the short sale. Now this is much better on your credit reporting than that of a foreclosure which can appear for seven years. In a short sale scenario, most approval letters we received showed something to the effect “settled for less than amount owed.”

If you are in default, in most cases you are up against the clock. The lenders will have their attorneys proceed with foreclosure filings and this doesn’t stop until the short sale is completed. And many times you might need to retain an attorney to slow down the foreclosure in order to successfully complete the short sale.

Professional buyers like Steve & Joleigh at Creating Real Estate Solutions LLC are highly seasoned local investors who want to help their neighbors here in Bonita Springs sell their houses regardless if they have no equity.

At the very end we will talk about this strategy more in detail.

Lease Option To Purchase

One way to sell a house with no equity in Bonita Springs is by finding a buyer interested in a lease option to purchase. These buyers typically don’t qualify for conventional loans and need time to get their finances together.

There are many benefits to selling through a lease option to purchase if you’re willing to take on the risks of working with this category of “buyers.” With this strategy, you can earn an income stream from the property, get a decent down payment that could be non refundable if they do not exercise their right to purchase and you can make it where the tenant / buyer is responsible for the property like certain repairs and upkeep at their expense.

However, in this scenario, a lease option to purchase can also have its downside. They could leave the property in disrepair leaving you with thousands in repairs. And many who are looking for a lease option likely have poor credit and maybe shaky employment. Always do your due diligence like credit, background and employment checks.

Selling a house with no equity in Bonita Springs using a lease option strategy is a fantastic solution to rid yourself of a property that you no longer need or want.

Sell Your No Equity House in Bonita Springs to Us!

The best way to sell a house with no equity in Bonita Springs is by making a direct sale with local Bonita Springs house buyers, Steve & Joleigh!

You can avoid the hassles of a short sale or foreclosure altogether (especially if delinquent). Furthermore, you won’t need to worry about spending a penny out of pocket to prep or make repairs by selling directly to a professional buyer like Steve & Joleigh at Creating Real Estate Solutions LLC.

Stop Foreclosure with Upside Down Mortgages In Fort Myers FL

In addition, you can skip the entire showing process with a direct sale because we buy houses in as-is condition at Creating Real Estate Solutions LLC, and Steve & Joleigh pay buy houses with no equity in Bonita Springs and surrounding areas, making the process fast and easy.

But the question is how and why would you buy a house with no equity? Well it is a fairly simple process. It is called “Subject To Financing.” So, let’s take you step by step on how it works.

Analyzing Your No Equity Mortgage in Bonita Springs

The first step is to contact us so we can go through a series of questions which would include the following:

  1. Are you currently delinquent on your mortgage?
  2. How many missed payments?
  3. Is there a Lis Pendens filed or any other foreclosure proceedings
  4. What is your monthly PITI Payment? (Principle, Interest, Taxes & Insurance)
  5. Other details of the mortgage – Interest rate, # of years left on the mortgage, fixed or adjustable.

Analyze Our Costs

The next step in buying a house with no equity in Bonita Springs is to analyze our costs and net income based on us leasing the property out

We will review how much money it will take to get the mortgage current (if any), figure out all the closing costs (that we will pay for) and figure costs for any repairs / renovations needed on the property to come up with our estimated “entry amount” to close on the property.

Then we look at the rental comparables and figure out what we could lease the property for and come up with the net income analysis.

Offer for your No Equity House in Bonita Springs

If you house with no equity in Bonita Springs shows a positive cash on cash return, we will make you an offer.

Again, the offer is called Subject To Financing, where we would take over your existing mortgage. Our payback period is around 3-4 years. This means we do not make any money within the first 4-5 years of ownership of your no equity house in Bonita Springs.

If you have to sell a house with no equity in Bonita Springs CONTACT US right away especially if you are delinquent on your mortgage.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get An Offer Today, Sell In A Matter Of Days...

  • This field is for validation purposes and should be left unchanged.