Selling a house is not an easy task, especially if you are in a tough market. You may have already lowered your asking price and tried traditional methods of selling, but still cannot seem to get any offers. In this article, we will explore five other options that you can try if you are saying, “I can’t sell my house in Raleigh, NC.”
Take It Off the Market
If you have been trying to sell your home for a while now and are not getting any offers, it may be best to take it off the market for a few months. This is especially true if you are selling during a time when there are many other homes similar to yours on the market, such as during the winter months or holidays. By taking your home off the market and waiting until market conditions improve, you may have better luck selling your home in the future.
Take Out a Second Mortgage
If you have built up equity in your home, you may want to consider taking out a home equity loan. This can help you finance other things, including real estate investments. However, keep in mind that this option comes with a higher monthly payment. If you cannot afford to pay the higher payment, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate.
Rent Out Your Home
If you cannot sell your home and do not want to hold two mortgages, consider renting out your home at or near the price of your monthly mortgage payment. This allows you to apply the rent to your mortgage without incurring any additional expense, other than upkeep, maintenance, and repairs. This option can be especially attractive if your home is in a desirable location, as you may be able to charge a higher rent.
Consider a Short Sale
If you are upside down on your mortgage and owe more than your home is worth, a short sale may be a viable option. A short sale involves negotiating with your lender to accept less than what you owe on your mortgage. To do this, you will need a buyer who can close quickly. This option can help you avoid foreclosure, which can have a severe impact on your credit score. However, keep in mind that a short sale will also affect your credit score, so be sure to consider all your options carefully.
Offer a “Lease to Own” Option
If you cannot find qualified buyers for your home, consider offering a “lease to own” option. This option involves renting your home to someone with the option to purchase it at or before the lease expires. This is a good option if you cannot find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line. You can also add a lease premium to their monthly rent that can either be applied to the down payment later or kept as income if they do not exercise their option to buy your home.
In conclusion, if you are saying, “I can’t sell my house in Raleigh, NC,” do not panic. There are several other options you can try, including taking your home off the market, taking out a second mortgage, renting out your home, considering a short sale, and offering a “lease to own” option. It is essential to carefully consider each option and choose the one that best fits your financial situation and goals. If you are interested in learning more about your options for selling your home in Raleigh, NC, contact a real estate agent or professional in your area such as us at Kev Buys Houses , by giving us a call at or filling out the contact us form