Sell Your House Fast in Lake Oswego, Oregon
Lake Oswego Is the top neighborhood in Portland Metro. The lake is the major reason people love to live in this city. It has one of the best trail systems, big green open space to enjoy with family and friends.
But like any city in Oregon, it is no stranger to the problems we’ve faced since the COVID-19 pandemic was declared. In 2020, there were hundreds of citizens lay off or permanently suspended from work. City facilities, parks, and entertainment places as a significant number of businesses were shut down.
Currently, The city is working to comply with the Oregon Governor’s executive orders and the framework for reopening.
The City has successfully reminded below the risk level and assuming that Clackamas County stays below risk too. Lake Oswego plans to gradually reopen City Hall and other facilities to the public.
Still, the city and the health authorities recommend following the safety protocol, including.
- Face covering.
- Capacity limits tied to the State’s risky level.
- The Library’s public occupancy is limited to 4 people. Residents can make brief visits without an appointment (10 minutes)
- Parks & recreation facilities have reopened for activities, with capacity limits and safety protocols in place.
- COVID-19 Vaccine. Vaccination clinics and information regarding appointments and availability can be found at covidvaccine.oregon.gov.
Perhaps, Lake Oswego city has been a prosperous and well-established community, the pandemic burden has printed its fingers on its residents’ economy. As is happening across the USA, homeowners struggle to keep their jobs, income, and properties.
Many have been able to create an income source by owning a rental house, or small apartment complex, but because of the pandemic, their tenants lost their jobs, stopped making rental payments. Currently, they are hand-tied for the Federal and Oregon’s tenant-landlord regulations.
What to Do With an Underwater Property?
Being behind on your mortgage payments is something that no one wants to experience. But even late payments are a part of everyday life. That is a situation that is shared for more than 5 million homeowners across America.
According to a Black Night data report issued in March 2021. It shows that over 3 million homeowners were in delinquency by February 2021. The active foreclosure inventory is down 30% from the same time last year due to moratoriums and forbearance programs.
Experts believe that after the forbearance and moratorium programs get lifted. A cascade of foreclosures and abandoned properties will be imminent.
With an underwater property, action must be taken. If mortgage payments cannot be brought up to date, the homeowner in default should look right away for the best solution in his particular situation. For some people, it may be, let the property go and be resigned to face foreclosure. Some homeowners would prefer to sell the house before the damage gets bigger.
Selling Your House to Avoid Foreclosure
A foreclosure is a stain on your credit report that would last a minimum of 7 years. It is much better to have some late payments rather than a court judgment. People who have late payments and sell their properties can immediately start rebuilding their credit history. A foreclosure closes many doors and opportunities. That is something we all need to take into account before defaulting on a home loan.
It is quicker and dollars convenient to sell a defaulted property through a real estate agent or to an investor as Better Off Home Buyers?
|Activity||Selling w/ An Agent||SOLD To Better Off House Buyers|
|Inspection & Financing Contingency*:||Yes, sales can fall through||NONE|
|Appraisal Needed:||Yes, the sale is often subject to appraisal – Seller pays the fees||NONE – We make cash offers|
|Average Days Until Sold:||+/- 91 Days||IMMEDIATE CASH OFFER|
|Number of Showings:||On average 20 showings||1 (Just Us)|
|Who Pays For Repairs?:||Typically, The Seller. However, It could be negotiated during the Inspection Period||NONE – We pay for all repairs|
|Commissions / Fees:||6% on average is paid by you, the seller||NONE|
|Closing Costs?:||2-5% on average is paid by you, the seller||NONE – We pay all costs|
|Closing Date:||30-60 +/- days after accepting buyers offer||The Date Of YOUR CHOICE|
The home median price in Lake Oswego is $850,000. The market price had increased by 15% during the first quarter of 2021. Wich means, equity on average, is about 40% of the house value.
A homeowner who goes into foreclosure may be losing a lot more than his credit score. Just the equity amount of a median house could go over $340,000, plus the legal fees and federal taxes, in sum, that is a lot of money. On top of that, the hassle of moving the family to another neighborhood, a new school district, and many more inconveniences.
Banks and lenders are aware of this situation that millions of homeowners and small owners are going through, and are waiting hidden behind the bushes, like a predator ready to deal the death blow to its prey. They want your home equity!
Real Estate agents don’t work with homeowners that are on default. They know that potential buyers get impressed by the first sight. So, they reject homeowners that can’t spend money on house appeal. Because they assume that if a homeowner is behind on mortgage payments, he or she would not have the means to make the necessary repairs or adjustments to beautify the property to sell.
Taking Advantage of The Home Equity
No doubt of the fastest solution for a homeowner or small landlord in crisis is selling the property on default. That must be a quick operation to be executed because the clock is clicking.
Better Off Home Buyers will buy your property. Together, we can work to reach a win-win transaction.
- We know that the housing inventory is low.
- We know prices have been increasing during the pandemic.
- We can offer a fair market price for your property.
- We are able to close in 7 days.
You can sell your Lake Oswego home to us by a transaction that will take a short time.
- You don’t need to expend money on home repairs
- You don’t pay for real estate commissions
- You don’t need to receive strangers in your house.
- You don’t need to risk your health to sell your property.
- You will get the money for your home as fast as 7 days.
We will present with you a writing offer for your property, during the next 24 hours after our first contact. You are free to take the time you need to close the sale. We will work with your schedule.
If you are selling your tenant-occupied property. Better Off Home Buyers will buy it.We are very experienced in dealing with this particular situation, where we will approach our inherited resident tenants with kindness and respect. We are living difficult times with the coronavirus pandemic and we sympathize with the people who are suffering the covid hardship. Contact Us