There are many different scenarios where someone might need to sell their house fast in Welland. Some people are attracted to the fact they don’t need to make major repairs in a fast home sale. Finding a contractor can take time and the work can be very expensive. Other people are facing Foreclosures or a Power of Sale and want to cash out before they get evicted.
In either of these situations and others, a cash homebuyer can complete the deal from start to finish in as little as 24 hours. It’s a route worth looking at if you need cash for your home quickly.
Current Trends in Welland Real Estate
The current real estate trends in Welland make selling real estate there a quick and easy process. The average price a home sells for in the area is $320,000. In the last 28 days, there were 37 new listings in the area. The median number of days on the market for a home in Welland is 10.
Need Advice on Your Sale?
You may have more questions on the entire process and how much money a cash buyer may offer. You can contact our team directly and we’ll do our best to answer your questions.
The town is located within a half an hour’s drive to Niagara Falls. Waterways like the Welland River and Welland Canal have played a big part in the city’s growth. The city offers parks as well as hiking and cycling facilities. There is one secondary school and several public schools located in the town.
Please read on to find out some of the common ways homeowners in Welland decide they need to sell their homes quickly.
What Happens When You Miss A Mortgage Payment?
Missing a mortgage payment can set a cycle in motion that can lead to credit score damage and late fees. Several missed payments can lead to either a Power of Sale or Foreclosure and an eviction.
It’s good to know this doesn’t happen all at once. However, if you miss three mortgage payments you’ll likely get a demand letter that brings you closer to a Power of Sale or Foreclosure.
Even though the end result is the same, there’s some differences between the two.
Under a Power of Sale, the lender can apply to take possession of the house and property. This involves several steps including a Statement of Claim. When the homeowners have been evicted, the lender usually sells the house using a real estate agent.
A Foreclosure has one noticeable difference. Here the lender takes title to the property. This process makes sure that any former homeowner is not entitled to any money from a future sale.
It’s important for homeowners facing either one of these situations to know their options.
Selling Options for Welland Homeowners
There are several reasons why a homeowner can find themselves looking at the need for a quick sale. Some are different than lenders taking steps to evict them. Some people don’t want to show the property. And there are other reasons.
Regardless of the ‘why’, there are several different methods these people can use including:
- Improving the Curb Appeal. This can include hiring a professional tree trimmer who charges based on the height and size. Be aware that a 30 foot high Dogwood tree can set you back $450. That’s about $20 dollars for every five feet.
- Highlighting The Best Features Helps. If you have a feature like a fireplace, make sure it’s burning when potential buyers come in. If you have an upgraded kitchen make sure to have some treats baking in the oven.
However, the chances are that homeowners in Welland who need to sell quickly won’t have the time and money to do the above or make expensive repairs. Below are a few methods that work best when the sale has to be quick.
Steps For Selling A Home Quickly
A fast sale needs to take into account certain financial deadlines. For example, it’s important to find out what’s involved in breaking a mortgage contract. With an open mortgage, there’s generally no prepayment penalty. That’s not the case with the closed variety. This option can cost thousands of dollars.
Make Immediate Repairs
Some homeowners can borrow money from friends and relatives to make immediate repairs. However, the amounts can overwhelm an already tight budget. For example, replacing a standard asphalt roof in Canada costs on average $5000. Depending on the material quality and the size of the house, that can go up to $11,000.
What About Cash Home Buyers?
A good option is a cash home buyer. Due diligence is important. Take a look at any reviews that they have on the Internet and give them a call. It’s important to make sure you’ll be comfortable working with the company. Find out how their process works.
Once you do, you’ll see this is a great option for some people looking to sell a home quickly in Welland.
Advantages of Using A Cash Buyer in Welland
Homeowners who take the time to look into these cash home buyers see advantages right away.
- The homeowner saves on closing costs. With the conventional home sale there are closing costs like document fees and processing fees. Homeowners also need to set aside some money for legal and appraisal fees. A cash homebuyer pays an under market value without these other costs.
- The homeowner doesn’t need to clean or repair the property. The traditional home sale can bring an inspection which can highlight necessary repairs and upgrades. Homeowners either need to fix the issues or lower the asking price. A cash home buyer purchases the home in ‘as is’ condition.
The homeowner also has more say over the timeline with a cash house buyer. There’s generally a walkthrough, cash offer and a closing date that gets picked by you. The Mortgage Broker Store is a cash home buyer. Cash buyer also buy houses in Pelham, Fort Erie, Port Colborne, Fonthill, Crystal Beach and Ridgeway Ontario.
Experience in Real Estate
We have over 30 years in the real estate business. Our team has extensive knowledge in all the different aspects of Foreclosures and Power of Sales. Our cash homebuyer team also has certifications as mortgage agents and brokers. We are well positioned to offer you an outstanding well-rounded cash homebuyer service.
Need to Discuss Your Sale?
The traditional mortgage or home selling process is not a good fit for everyone, and can feel overwhelming. You can contact us for a no cost consultation, and we can outline your options.
Get in touch with us today at 416-499-2122, or email ron@mortgagebrokerstore.com.