What to Do If You Need to Sell Your House?

Homeowners affected by the pandemic who defaulted on their mortgage payments were allowed to apply for a mortgage forbearance plan. Both homeowners and mom-and-pop landlords in Portland and across Oregon applied for and were approved for the protection advertised under the CARES Act, issued in March 2020.

But, 18 months after the Covid-19 outbreak, some homeowners continue to struggle to meet their loans and forbearance obligations. They simply have not been able to regain control of their finances and their properties. Because of the desperate situation, some Portlanders have lost control of their finances. The coronavirus hardship had pushed homeowners to undesired and unbearable situations. But this is not exclusive to Portland’s problem. Nationwide the situation repeats itself. 

Of the FHA’s roughly 7.6 million loans outstanding in May, 14.7% were delinquent and 10.5% were seriously delinquent, according to an analysis by the American Enterprise Institute, a public policy think tank. Thestreet.com

Under the legislation, borrowers with FHA-backed loans had the option to suspend payments, though they will still have to pay the missed amount later. The deadline to request mortgage forbearance was extended to Sept. 30, 2021.

As the forbearance periods end, borrowers may simply resume payments or modify loans, but many other borrowers could likely face foreclosure, AEI reports. “With the seller’s market as it is, these distressed owners may be able to avoid foreclosure by selling for a high enough price to cover the mortgage, other expenses, and arrears.”

But certain areas could face greater exposure to price declines due to increasing supply as borrowers either sell or lose their home to foreclosure.

At the Better Off Home Buyers offices, we are experiencing an increased number of emails and phone calls from people interested in selling their homes. Most of them are homeowners and landlords who want to take advantage of their home equity and the small number of homes for sale in the Portland and Oregon markets.

We are a well-known home buying company in Portland and across Oregon. The homeowners that sold their house to us, reported their home sale transaction as a “Satisfactory experience” 

The reasons why people contact us to sell their homes. Among others are:

  • Foreclosure.
  • Relocated for a job.
  • Divorce. 
  • Wanted to sell an FSBO house.
  • An inherited house.
  • Bankruptcy.
  • Behind on mortgage payments.
  • Foreclosure
  • Tired of owning, the house needs a lot of repairs.
  • Bad tenants.

With our home buying program, you will receive a fair writing offer for your property. The entire transaction will be done at the time you decide. 

By selling your house instead of letting it go in a foreclosure process, you have the opportunity to get back on your feet. By doing that, you will not suffer the negative effects of a low credit report. You will be able of receiving a mortgage loan again and retake the dream you had suspended because of COVID-19.

Our Better Off Home Buyers company is based in Oregon. We serve the entire state and other states of our country as well. Our mission is to provide a high-quality service to our community. Our purpose is not just to buy your property. It serves people who need to get out of a problem just before it becomes too big.

Our work helps people prevent major financial mishaps, such as dealing with unnecessary foreclosures, taxes, and legal fees, as well as personal and family annoyances.

Some homeowners in Portland and across Oregon are nearing the end of their mortgage forbearance plans. Currently, many of them are not be able to make up their mortgage payments. And others will be unable to meet their mortgage obligations shortly. 

So, what might be the best action to take if you can’t stick to a post-forbearance plan?

Selling Your House Just In 7 Days?

Our clients are surprised when we tell them that we can close in 7 days. A traditional real estate transaction in Portland takes 90-120 days. One of the critical moments during the process is waiting for lenders to approve home loan applicants. Depending on the lender, an applicant can be approved or rejected in an average time of 30 to 45 days. Which would make the time of the sale process extend by months. 

Our home buying process is fast because we don’t depend on banks or lenders to be approved. We possess the capital to buy properties.

We buy houses in Portland, Salem, and across Oregon. Our services cover the entire estate of Oregon, and it has been extended through the United States. Again, Better Off Home Buyers can close in 7 days because we count on our capital. This means that each Better Off Home Buying transaction lasts a tiny portion of a traditional real estate transaction lasts.

We all face difficult situations at some point in life. Oregon has been suffering from the coronavirus crisis, unemployment, fear of a pandemic, and many more. But the solution to adversity is simply to act quickly.

We are part of the solution. Better Off Home Buyer has become the solution for our client’s real estate problems. 

2020 was a difficult year. 2021 is another year of challenges. The pandemic is far from being controlled. Many businesses have closed for good people can’t get stable jobs, political changes and an uncertain housing market are getting in the way. Eviction and foreclosure ban extensions might help renters and homeowners to be under a roof. But nobody knows what the situation will be like, in the years to come.

Contact us by filling the information form on this page or by dealing directly. We can help you if you want or need to sell your Gladstone house.

We Buy Houses Across The State Of Oregon.

Any Condition, Any Price Range, or Any area in Oregon. 

House Needs Work And I Can’t Afford To Cover The Costs.

Don’t worry if your house is not in perfect condition. We buy AS-IS homes. Without contingencies, you do not need to make repairs, and we will not ask you to do them.

Because of the pandemic, many people found out that they can work from home, kids can attend school virtually. Many activities have been changed or despaired and new ones have come to place. Others want to move to smaller and cheaper communities or have been relocated. Better Off Home Buyers also have been part of these people’s changes.

Homeowners are coming to us because they need help with:

  • Getting a small place.
  • Moving to a less expensive city.
  • Job relocation.
  • Immediate cash.
  • Unaffordable home repairs. 
  • Fire Damage
  • Vacant house
  • Tenants stopped paying rent.
  • Inherited home

We have a lot of experience dealing with diverse situations. We don’t limit our house-buying service to just Portland, we buy homes in all Oregon areas.

 GET A FAIR CASH OFFER WITHIN 24 HOURS

If you need to sell your home quickly, we want to make you a fair cash offer on your property. You can have cash in your hand in as little as 7 days. Let us help you with that property that has become an unwanted home.

No Pressure. No Obligations. No Hussle.

We buy houses AS-IS.

Portland, Salem, Beaverton, Lake Oswego, Corvallis, Redmond, Coos Bay, Grants Pass, Roseburg, Cornelius, and many more across the state.

If you are facing a difficult situation. give us a call, and speak to one of our experts. We can help you get your life back. We handle all of the required paperwork, make the arrangements and close within a few days. You’ll get a quick house sale with no hassles, so you can put your worries behind you.

What Do We Offer?

The Better Off Home Buyers’ mission is to facilitate a fast and hassle-free sale of your house. How do we do this? We buy your property ourselves! Our experience and reliability help ensure an effortless process. We offer a fair house price. Our home-buying process can be summarized as 1, 2, and 3 steps. 

  1. Contact us By filling the information form on this page.
  2. We present with you a cash offer for your house.
  3. Cash in hands for as little as 7 days.

If you are concerned that selling your home through traditional real estate channels may take months or even years. That mortgage loan approvals for potential buyers will not be honored, that banks require costly repairs for home appraisal authorization, and that real estate agents present a long list of unreasonable demands? Your concerns are valid.

Can’t Sell Your House and Time is Running Ou? Contact Us Today!

If you’ve tried selling your home before, then you know how long and expensive the process is. Working with a real estate agent is the most common route people take when selling their homes. But for many homeowners, the experience had been a real disappointment. Some of the things that homeowners frustrated with the real estate sales system have told us are:

  • The sale takes from 90 to 360 days.
  • The seller pays for closing costs, agent commissions, service fees.
  • There are mountains of paperwork, and time-consuming
  • The house for sale must be immaculate. That means major or small repairs need to be fixed
  • Your agent doesn’t give you the attention you deserve. 
  • Your potential buyer can tie up your home for weeks, and back out right before closing, forcing you to start the process all over again.
  • The prospective buyer’s home loan application got rejected.
  • There is NO GUARANTEE that your agent ever sells your home.

Contrary to the real estate process, when Better Off Home Buyers acquire houses across Oregon, we do not charge commissions or closing fees. 

If you are selling your home, you should not incur expenses or substantially reduce the amount you must get from the sale.

When you sell your house to Better Off Home Buyers, You don’t pay for any cost.

What is the cost of the real estate agent commission?

The real estate commission is about 6% of the home sale price. Typically, the sale commission is split between the seller’s and the buyer’s real estate agents. In a traditional house sale, the seller pays for the commission. Because no real estate agent is involved when we buy homes, sellers do not expend unnecessary charges.

Escrow fees.

Broadly, It is the use of a trusted intermediary who handles money or other assets being transferred between two parties, making sure that the terms of the deal are met by both sides. It’s used in business all the time to make sure neither side gets cheated. 

In the context of homeownership, escrow comes up twice (which might be one reason for the confusion). Those two instances are:

  • During the process of closing, to hold “earnest money.”
  • As a long-term account where you pay property taxes and home insurance as part of your monthly mortgage payment.

Remember that although federal law governs certain aspects of escrow, states and banks are allowed to do some things their way. So if you’re ever uncertain about an escrow issue, it’s a good idea to contact a local homeownership advisor

If you sell your house to us, an escrow account is not needed. We pay for your house with a slum payment. 

Taxes.

Many people ask us about the tax cost. The property tax is an obligation for all real estate owners. When a house is sold, the tax obligation must be met no matter what. The seller should prorate the tax value he must pay, according to the time he was occupying the house during the fiscal year.

The tax obligation for the seller ends when the buy-sale property transaction is closed.

Oregon’s Multnomah County, which encompasses most of the city of Portland, has property taxes close to the state average. The county median effective tax rate is 1.07%. If you applied that rate to the county median home value of $ 330,900, you would get an annual property tax bill of approximately $ 3,550.” smartasset.com

Better Off Home Buyers will pay for property taxes.

There are other taxes associated with a property. Seller is responsible for the taxes related to capital gains because they are a source of income.

Homeowners Association  (HOA)

The homeowners association fee is a selling home cost only when the property for sale is located in a place or neighborhood that requires this fee.

As occurs with property taxes, the HOA should be prorated to the time the seller was living in the house. Falling to do HOA payments will be exposed to a link on the property.

Sometimes a house for sale has an HOA link on record. This makes the sale process a little bit slower than the sale process when the sale is through a real estate agent. If we purchase the same house, the processing time will remain the same. We will take care of any HOA costs.

Conclusion.

Selling a property involves hiring a real estate agent. Condition the house for sale, which means, pay for major or minor repairs, clean interior, and exterior, pay for ads, organize your time to receive potential buyers in your house. Be willing to wait for 90 to 180 days for your home to be sold.

During the COVID-19 pandemic, it is more difficult to put a house for sale in the traditional market. Many people fear getting contagious by the virus, so they prefer no to shop and some homeowners prefer not to sell.

The house selling process is not cheap. There are many costs related to it. The average cost of selling a house in Portland, Oregon is about $75,000. But if you need to sell your house, the cost may be higher when you hire a real estate agent. 

Selling your house to Better Off Home Buyers, you will save time and money. The sale costs and the time a homeowner spends on selling a property are minimized greatly when we buy the property. Our buying homes process takes about 7 days to close.

Contact us by filling the form on this page or dialing directly our phone number.

We are the most influential home buying company in Oregon. During this time of crisis and uncertainty, we are working close to the Oregonians in need of selling their houses quickly.

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