Selling Your Gladstone, Oregon House Fast

In 2021, Oregon continues to be an attractive market. The physical-geographic conditions of the state produce a spectacular climate and an ideal environment for new families, and a haven of peace for senior citizens.

Despite the damage that COVID-19 has caused, real estate markets such as Portland, Gladstone, Gresham, Beaverton, Oregon City, Tigard, and Salem, have not suffered a sharp decline like other markets in the United States. Home sale prices have increased close to 14% since the pandemic was declared back in March 2020.

The Federal Reserve’s low-interest rates adopted to manage the crisis, plus the people’s panic about the coronavirus, had made the market go down to low numbers on houses for sale. Oregon became a seller market. But for struggling homeowners who need to sell their homes, the situation is quite different.

We Help Tenants in the Houses We Buy

What to Do If You Need to Sell Your Gladstone House?

If for instance, you have stopped making your home mortgage payments. If after spending the protection time that the government has granted throughout the CARES Act you can’t regain control of your finances. If you continue experiencing a hard situation. Better Off Home Buyers offers you to buy your house in a fast time process,  just 7 days. 

We buy houses in Gladstone and across Oregon. There are many reasons why people contact us to sell their homes. Among others:

  • Foreclosure.
  • Relocated for a job.
  • Divorce. 
  • Wanted to sell your FSBO house.
  • An inherited house, my listing expired.
  • I need to sell my house due to bankruptcy.
  • I want to sell my house myself.
  • I can’t pay the mortgage.
  • 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 Gladstone property. The entire transaction will be done at the time you decide.

With our purchase offer, you will have the opportunity to get back on your feet, by selling your house instead of letting it go in a foreclosure process, you will not suffer the negative effects of a low credit report. You will keep intact the possibility of receiving a mortgage loan again and retake the dream that you had suspended by COVID-19.

Our Better Off Home Buyers company is based in Oregon. We serve Gladstone and the entire state, like other states of our country.

Our mission is to provide a quality service to our community. Our purpose is not just to buy your property. But serve people who need to get out of a problem just before it becomes too big.

With our work, we are preventing people from major financial setbacks, facing foreclosure, taxes and legal fees, even personal and family annoyances.

Some Gladstone homeowners are nearing the end of their mortgage forbearance plans. Currently, many of them will not be able to make up their mortgage payments. So what might be the best action if you can’t stick to a post-forbearance plan?

What To Do At The End Of Forbearance.

Forbearance is a temporary reduction or suspension of your monthly payment to help you get through a difficult time. You will have to repay any lost or reduced payments in the future through one of the many options. While you are in the payments suspension period, you can still choose to make partial payments, which will reduce the amount you will have to repay in the future.

The program is available to homeowners who have mortgages from federally backed businesses, such as

Fannie Mae, Freddie Mac, HUD, FHA loans, and VA

Through the mortgage forbearance plan, you are entitled to a 180-day break to pay your mortgage. You can also temporarily lower your mortgage payments if you are a federally backed home loan borrower, and claim that you are experiencing financial difficulties due directly or indirectly to the COVID-19 emergency. This program is called mortgage forbearance or mortgage relief. Your mortgage servicer (the company you send your payments to each month) can tell you if your loan is backed by the federal government.

At the end of the mortgage forbearance, borrowers should pay back the missed payments plus the regular monthly mortgage payments.  You can choose one of the following:

  • Reinstate (pay the total amount due at once.)
  • Repay the forbearance amount (in addition to your normal monthly payments) over the next 12 months.
  • Defer payments (add missed payments to the end of the Mortgage loan). If eligible, using the COVID-19 Payment Deferral will allow you to keep making regular monthly payments until you pay off, refinance your mortgage or sell your home (at which point, the total unpaid forbearance amount is due).
  • Modify your loan (permanently change some of the terms to make payments affordable.)

June 30, 2021, is the deadline to apply for home loan forbearance relief. After this date, if the Oregon government does not extend the  loan servicers have the green light to reopen or initiate foreclosure proceedings. At the end of the first quarter of 2021, the first mortgage forbearances will reach 180 days of forbearance. Borrowers must restart their home loan payments plus the due payment period. 

Currently, there are over three million home loans in forbearance.  Many homeowners have declared that they may not be able to make their mortgage payments again. The difficulties of the coronavirus have had a strong impact on their economy. They believe they will not recover on time to avoid foreclosure.

On the other hand, 30% of single-family mortgages, or roughly 14.5 million loans nationwide, are not backed or owned by a federal agency and are not covered by the federal moratorium, according to a report from the National Housing Law Project.

The pandemic second wave has caused another enclosure implementation in Oregon and across the U.S. to worsen the critical situation. 

Close to three million loans in forbearance sound a few compared with almost 30 million home loans nationwide. But they could represent over 3 trillion dollars in debt by December 31, 2020.  If the federal and local governments do not apply strong measures to help people release a stimulus package, we will be walking into the abyss edge.  

Selling Your House Just In 7 Days?

Our clients get surprised when we said that we can close in 7 days. After the first 24 hours since we have visited a property, we present the owner with a written offer. If our offer is accepted Better Off Home Buyers will pay cash immediately. In a traditional real estate transaction, It is necessary to wait for a long time until lenders approve home loan applicants.  Our home buying process is fast because we don’t depend on banks or lenders, we have the capital to buy properties.

We buy houses in Gladston, all Oregon, and across 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 60 to 90 days less than a traditional real estate transaction.

We all face difficult situations at some point in life. At Gladstone, we have 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 happy because 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 could help renters and homeowners to be under a roof. But nobody knows what will be the situation like a year from now.

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.

Analysis of selling the house to Better Off Home Buyers

Peter’s property is a two-story, three-bedroom, 2 and a half bath house located in Gladstone. He purchased the house in March 2009 for $325,000, using a home loan granted by a bank with 7.6% interest. 

As of December 2020, the property values’ market was $722,500. The amortized value paid in the 10 years was $ 30,000. He was affected by the COVID-19 crisis and had been unemployed since May 2020. Desperate for his financial situation, he signed a mortgage forbearance plan, but the forbearance agreement was not in his favor because his mortgage loan was not backed by the federal government. . After the application, the loan servicer approved Peter only for a 90-day deferral plan.

Here’s the analysis Peter worked on in March 2021 to figure out the most convenient approach to selling his home:

Property value as of December 2020$722,500.00
Amount owed to the lender-$295,000.00
Net capital gain at December 2020$427,500.00
Late payments from August to December 2020-$15,900.00
Capital gained on 2020-2021 15%$108,375.00
Property Taxes 2020-2021-$3,250.00
House equity in March 2021$516,725.00

Selling the house, for this client represents a capital gain of $516,725. He concluded that by selling the property, he was able to pay debts, and still, he might purchase another house. 

Taking advantage of the current interest rates I can relocate, get a home loan and meet my new mortgage obligation without any problem,” said Peter.

Analysis of Selling The House Through A Real Estate Agent

Here, Peter’s analysis for March 2021.

Property value as of December 2020$722,500.00
Amount owed to the lender-$295,000.00
Net capital gain at December 2020$427,500.00
Late payments from August to December 2020-$15,900.00
Capital gained on 2020-2021 15%$108,375.00
Property taxes 2020-2021-$3,250.00
Major – minor repairs and appeals, average-$25,000.00
90 days listed – 3 mortgage payments-$7,300.00
Average property tax 3 months-$815.00
Maintenance expenses 3 months-$600.00
6% commission to the real estate agent-$43,350.00
Closing expenses 3% approximately-$21,675.00
Total Capital gain selling to a real estate agent$417,985.00

Summarizing: Peter’s Net capital gains

Selling the house to Better Off Home Buyers$516,725.00
Selling the house to a Real estate Agent$417,985.00
Difference$98,740.00

In this example, selling his house to us, Peter would receive $98,740 more.

Contact us if you have any questions about selling your property. We can help you.

Reasons Selem Home Owners Turn To Us

1. Social Distance

Many homeowners who were willing to sell their houses refused to do so because they were afraid of catching the COVID-19 virus. They had preferred not to receive strangers at home. 

Contribute to keeping everyone’s health is important to us. Better Off Home Buyers. We are using technology to have virtual conferences and prospect home tours. However, we also conduct physical home visits when is needed.

Without endangering the health of any person and complying with all the measures of the health authorities, our professional home buying team has been able to buy properties in the Portland Metro, and also in the counties of Clackamas, Marion, Washington, Lincoln, and Curry.

2. We Buy Your House As-IS

Better Off Home Buyers buys homes As-Is. The traditional real estate market requires that properties for sale have the best conditions, so they can be chosen by buyers quickly. Any major or minor repair that a property needs should be done and paid for by the homeowner. Real estate agents consider it important to keep a house for sale clean, the gardens very green and healthy, the lights always on to make a good impression on potential buyers. Expenses to be paid by the home seller.

An investor like us buys your property AS-IS.

Buying a home As-Is means: 

No matter the situation, we buy your house.

3. Sale Commissions And Closing Expenses

A house sale commission is 6% of its commercial value, this is an expense that the seller homeowner must pay. The 6% charged by the real estate agent is not established by any law, but the practice has made that It is the amount to be paid for the real estate agent’s work.

On many occasions there is more than one real estate agent involved in the negotiation, in this case, the commission should be distributed among the agents involved in the house sale.

The closing costs are expenses and fees associated with buying and selling a home, such as taxes, insurance title, appraisal, and loan fees. 

The closing costs may vary between 2% and 5% of the sale value of the house.

Other closing costs could include:

  • Appraisal: appraising a property can cost anywhere from $ 500 to $ 1,200 in the Portland Metro area. It depends on the location and price of the property.
  • Inspection: Inspections are generally paid for in person and are not included in closing costs, but they are an expense incurred by the seller of the property.
  • Property taxes: For a property to be sold it must be up to date with taxes, an expense that the seller must make.

4. Closing Time

While a real estate sale takes at least 90 days to sell your home, the same transaction with an investor like Better Off Home Buyers takes just 7 days. In many cases, we have bought homes in just 2 days.

During the home-selling waiting time. Homeowners have the obligation to continue with the maintenance of their properties,  taxes, and the expenses we had enumerated in reason number 2 of this publication.  

Selling your property should be a fast and safe operation. A real estate agent can’t guarantee that your property will ever sell, a lender might deny a mortgage loan to a potential buyer, or it may happen that at the last minute the buyer regrets it.

With Better Off Home Buyers the sale of your house is safe because we will buy it. Our company does not depend on lenders, we have enough money to close transactions in Gladstone, and across Oregon. 

5. Immediate Cash

If for any reason a homeowner needs cash immediately, let’s say  relocate, unforeseen expenses, illness, or unexpected unpleasing situations. Selling the house to an investor like us is the quickest solution. 

We are happy to help many people who needed cash to solve big problems, these homeowners found in us a way to acquire safe and fast cash for the fair value of their homes.

6. Your Peace Of Mind

People may have many reasons to sell their houses, sometimes they want to move to a bigger house in another part of the city, sometimes they need to solve a personal problem. No matter what reason you have for selling your property, always a home sale transaction brings expectations and anxiety. 

In an ideal world, selling a home should be quick, for the amount of money the seller wants to receive, and stress-free. But in the real world, the situation is very different. But what is real, is the excellent service that Better Off Home Buyers offers a person when we purchase his home.

Our purchase process is honest, clear, and fast, after a person contacts us, our team immediately goes to work to make a win-win offer.

People can have many reasons to sell their houses, sometimes they want to move to a bigger house in another part of town, sometimes they need to solve a personal problem. Regardless of your reason for selling your property, the home sale transaction always brings expectations and anxiety.

In an ideal world, selling a house should be quick, for the amount of money the seller wants to receive and without stress. But in the real world, the situation is very different. But the real thing is the excellent service that Better Off Home Buyers offers a person when we buy his home.

We are interested that you, as our client have a pleasant experience and find in Better Off Home Buyers the answer and the solution to your expectations of selling your home. We know that the best way to advertise our business is for you to be a satisfied customer after dealing with us.
Contact us by filling out the form on this page or dialing directly (503) 212-9641.

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