Home Sale Solutions
At Jeremiah Buys, we specialize in providing tailored home-selling solutions in New Orleans for property owners facing challenging situations or dealing with problematic properties. We understand that each homeowner’s circumstances are unique and demand distinct solutions. Drawing from our extensive experience, we are well-versed in various strategies to address these issues.
We are more than willing to discuss your situation and offer advice. While our primary goal is to purchase homes, we focus on mutually beneficial transactions. There are times when we may recommend an alternative that doesn’t involve us buying your property. Our business principle is centered on ensuring that all parties involved in a deal are satisfied at the closing table.
Listing Your Property with a Realtor
If your home is modernized and you’re not in a rush to sell, opting for a real estate agent might be the most suitable choice. They’ll ensure maximum exposure for your property, and when they find a buyer who adores your home and is ready to move in, you’ll secure the highest price. However, bear in mind that your final earnings will be reduced by around 10% due to realtor fees and closing costs. If time isn’t a constraint, this could be the most advantageous option for you. Since we aren’t licensed realtors, you can find a licensed realtor through the Louisiana Real Estate Commission if you decide to follow this path.
For Sale by Owner (FSBO)
Numerous individuals choose to sell their homes independently as a For Sale by Owner (FSBO) listing to bypass real estate commissions and fees. This option can be cost-effective, but it requires a willingness to put in some effort. We have compiled information to guide you through the process of selling your property as a FSBO.
Putting Your Home on the Market in Its Current, As-Is, Condition
Homebuyers typically expect a house to be fully functional and up-to-date when they make a purchase. Once they agree on a property, they’ll have an inspection done; if any issues are discovered, they’ll want them fixed or the repair costs deducted from the sale price. Bank-financed buyers have even higher expectations, as the bank will review the inspection report and impose its own standards. Moreover, homebuyers usually expect certain warranties, leaving sellers exposed to potential post-sale repair demands.
If your home is older and in need of repairs, selling it in “As Is” condition might be a viable option. This means you sell the property without any warranties and won’t be responsible for making any repairs. While most homeowners are hesitant to buy “As Is” properties, investors often take on such projects, assuming responsibility for repairs and even allowing sellers to leave unwanted items behind. We frequently buy properties “As Is” and have compiled a list of common questions related to selling a house in this manner.
Managing a Sale Process for a Property with an Unsettled Mortgage or Lien
Selling a property with a mortgage or lien isn’t a significant issue, as long as the proceeds from the sale cover the outstanding debts. However, it’s crucial to consider the amount YOU RECEIVE from the sale. Keep in mind that selling through a real estate agent typically incurs around 10% of the sale price in commissions and closing costs. This could result in a situation where the property’s sale price exceeds the mortgage or lien, but the seller still has to pay at closing to cover the debts. No one wants to pay someone to purchase their property, and fortunately, you don’t have to. There are alternative ways to manage liens and mortgages without incurring out-of-pocket expenses when selling your home. We frequently buy properties with liens, even when the debt is greater than the property’s value. We’ve compiled additional information on selling a house with liens for your convenience.
Selling a Property Received through Inheritance
Inheriting a property can be both advantageous and problematic. The house may come with various obligations such as maintenance, taxes, and dealing with tenants. Many people don’t want the added responsibility and would prefer to convert the house into cash to continue with their lives. Inherited homes can also have emotional ties. We realize how difficult it can be to prepare a loved one’s home for sale. We frequently acquire inherited houses, letting the heirs take what they need and leave the rest for us to address. Furthermore, we often come across situations where the title transfer has not been executed even long after a person has passed away. In these instances, we can buy the property and have our title attorney perform the succession as part of the sales process, preventing you from incurring additional legal expenses. If you’re looking to sell an inherited home, we’ve put together an FAQ on selling inherited properties.
Arranging the Sale of a Home with Tenant Occupancy
Selling a home with tenants in place can be a complicated process. The tenants might not be willing to present the house well for photographs and viewings, which can discourage potential buyers. One option is to evict the tenants and stage the house, but this may not be feasible if they have a lease or you’re unable to cover the mortgage and other costs. In such situations, it’s typically better to sell to an investor who understands the challenges of dealing with tenants and isn’t overly concerned about the house’s appearance. The presence of a tenant might even be an advantage, depending on the rent being collected. We often buy houses with tenants and have assembled a set of frequently asked questions regarding selling a home with a tenant.
An Investor who Enjoys Passive Income but wants to give up Landlord Responsibilities
If you are a landlord with a property that has a large amount of equity and you like the passive income it generates, you can receive a smaller portion of the purchase price as a down payment and the rest through monthly payments. In this case, you serve as the bank by providing seller financing. This scenario can be advantageous for the investor selling the property, who continues to receive passive income, as well as for the investor purchasing the property, who may obtain a more favorable rate through a loan not usually available from banks in certain instances. If you’d like to obtain the rest of the purchase price at a later time, you have the option to sell the note on the market. This arrangement is generally enticing for older investors who want to distance themselves from the tenant-related aspects of property management.
Selling your House Fast in New Orleans
Multiple factors can lead to the necessity of a speedy home sale. In these cases, using a real estate agent may not be the ideal solution, and it might be more beneficial to sell to an investor who offers cash. Cash payments can expedite the process, eliminating the need for financing approval and enabling you to sell your house as soon as the title attorney has the paperwork in order. We specialize in buying houses promptly for cash. To sell your house fast, call us or complete our online form.
Opting for a Cash Sale of your Property
You may want to consider selling your home to a cash buyer, which offers a number of advantages. For instance, you won’t have to worry about a sale falling through due to financing complications. Additionally, the process is much faster, as cash buyers won’t need to undergo loan approval or hire building inspectors and property appraisers. A cash buyer is an excellent choice for selling a home that requires substantial repairs, as many banks are unwilling to provide loans for such properties. Explore further details on the benefits of selling your house to a cash buyer.
Selling a House Lacking Equity
When your mortgage balance is the same or more than your house’s worth, selling can become difficult. Considering realtor fees and closing costs, you may end up having to pay a significant sum just to sell your home. Although this isn’t a favorable situation, you still have options. We buy homes with no equity by taking on the mortgage payments. This approach doesn’t consume our cash reserves, allowing us to pay a higher price when assuming an existing mortgage. For additional information, check out our take over payments page.
Selling an Unoccupied Parcel or Vacant Land
Marketing a lot or vacant land involves a different approach compared to selling a house. The buyer pool is considerably smaller, mainly consisting of investors or individuals looking to build their own homes. Land buyers have different priorities compared to homebuyers, with a greater emphasis on location, zoning, and building access rather than move-in-ready properties with upscale features. Get more information about selling a lot or vacant land.
Offering a House for Sale with Hurricane-Related Damage
In the event that your house has been damaged by a hurricane in New Orleans and you don’t wish to undertake the repairs, you can sell it to a cash investor such as Jeremiah Buys. You can sell your storm-damaged property as is and hold onto the insurance funds for yourself. By putting together the insurance check and the proceeds from the as-is sale, you can transition to a new house without the stress of repairing the damage.
Selling a Home with Foundation Problems
Most potential home buyers are put off by foundation troubles, but this is not the case for investors who flip houses for a living. In New Orleans, foundation issues are rather common, and you may encounter them. The best course of action is to hire a foundation company to fix the problem before selling your home. If that’s not feasible due to time, money, or willingness, you can always sell your house to a cash investor who is comfortable buying properties with foundation issues.
Is the Idea of Selling your Home on your Mind?
If you’re considering selling your Louisiana property, feel free to call us to talk about your particular situation. We’re eager to offer insights and help you understand the various options available to you. We won’t be bothered if you decide not to sell your house to us; we’re here to assist, and we’ll only buy your home if it’s genuinely the most beneficial option for you. You can also review our Frequently Asked Questions section.