We Buy Ugly Homes
We buy ugly homes has become a popular phrase amongst real estate investors who engage in purchasing run-down houses. In most instances, ugly homes are sold well below market value because the homeowner does not possess the financial means to make repairs and renovations. Investors can purchase ugly homes at reduced prices, make repairs and sell the house for profit.
One of the most recognized "we buy ugly homes" investment companies is HomeVestors of America. Based in Dallas, Texas this house buying franchise operates offices across the nation. Their infamous marketing campaign consists of bright yellow and red "We Buy Ugly Houses" billboards positioned along interstates and high-traffic areas. Their message brings hope to homeowners who need to sell homes in less-than-perfect-condition quickly.
Franchise home buying programs and real estate investors who specialize in buying distressed properties generally work with homeowners who are facing foreclosure or bankruptcy. These individuals are often in a desperate state of mind and in fear of losing their home.
While working with an organization that specializes in buying ugly homes might resolve problems with their mortgage lender, it is important to investigate the company or investor before entering into real estate sale contracts.
We buy ugly homes companies typically purchase homes for about 60-percent of the appraised value, less the cost of repairs. If homeowners owe more than their home is worth, they must obtain approval from their bank to short sell their home.
In order to enter into a short sale, homeowners must meet criteria established by their lender. Borrowers must work with a bank loss mitigator throughout the short sale process. Homeowners who have accrued equity or those who have entered into foreclosure are not eligible for real estate short sales.
Most mortgage lenders require borrowers to have a buyer in place before granting short sale approval. Transactions generally must be completed within 90 days or less. Otherwise, the bank will commence with foreclosure action.
Probate administrators managing estates with real estate holdings oftentimes need to sell the property in order to settle the estate. Probate is the legal process used to validate a decedent's Last Will and Testament; assess estate value; and distribute assets to heirs and beneficiaries.
The decedent's estate is responsible for maintaining real estate throughout the probate process. Depending on the circumstances, probate can last between six months and three years. In many cases, probate real estate must be sold in order to prevent bankrupting the estate.
One little known resource for selling real estate quickly is to seek out private real estate investors or investment groups. Private investors can be located in most cities and towns across America. Good source for locating investors is through real estate forums, real estate brokers and realtors.
If you need to sell your house quickly, Simon Volkov is currently buying both ugly and pretty houses. Simon specializes in probate, foreclosure and short sale properties and has helped hundreds of borrowers obtain short sale approval.
Start the process by entering information about your house via the "we buy houses" form. Upon receipt of your information, Simon will personally contact you to discuss your situation and suggest available options.
Feel free to visit our real estate article library to learn more about selling ugly homes, foreclosure, probate, short sales, bankruptcy and personal money management. We also offer a real estate investment section for individuals interested in starting or expanding a real estate investing business.