| There are many reasons why a person may | | | | insurance. In addition, because they have agreed |
| want to sell a home quickly. Such as an | | | | to purchase the home at some point in the |
| opportunity has come to the attention of the | | | | future, they must be responsible for the upkeep |
| seller and without cash, the opportunity will pass | | | | and maintenance. |
| them by. Or perhaps the seller has taken a new | | | | A third way is to rent to own. Similar to owner |
| job out of the area and he must sell soon in | | | | finance, you collect a sizable deposit and rent that |
| order to avoid paying two house payments. Ten | | | | again, equals or exceeds your monthly liability on |
| there are the usual suspects. Divorce, death, and | | | | the house. In addition, because the tenants are |
| unwanted inheritance are some of them. In | | | | hoping to buy the house at a future date you |
| addition, some people lose their jobs or there | | | | would write up an option agreement that specifies |
| money stream has been broken or reduced to | | | | the price of the home and the date by which |
| the extent that they can no longer make the | | | | they must close on the house with new financing |
| payments on the house. Unfortunate as some of | | | | in place through a third party such as a bank. |
| these events are, there are several ways in | | | | One more way is to sell the house in what is |
| which to sell, reduce or limit your liability on a | | | | termed subject to. The way in which this works |
| house. | | | | is you sign over your deed to a buyer and the |
| Probably the fastest way to sell a home quickly is | | | | buyer signs a promissory note to make the |
| to contact a Buy Ugly Homes type investor. An | | | | payments on the house. There are variations to |
| investor will pay cash and close on the home in | | | | this such as money up front to the seller or the |
| days rather than months. They can do this | | | | buyer agrees refinance the mortgage by a certain |
| because they will discount the house price to an | | | | date. |
| amount that allows them to transfer the rights to | | | | In each of the above methods, you have been |
| a rehabber for an assignment fee of between | | | | able to get out from under the liability of a |
| one thousand and three thousand dollars. The | | | | mortgage payment and you have contracted the |
| rehabber will in turn invest money into the repair | | | | house very quickly. In addition, you have paid no |
| and update the house to make it more appealing | | | | realtor commissions. Each method is set up for a |
| to the retail buyer and then put the home on the | | | | certain type of buyer, but done properly and with |
| market for sale. | | | | the right amount of down payment, deposit or |
| Another way to get out from under your house | | | | money up front is well worth the time spent if |
| payments is to sell your home through owner | | | | the buyer does not fulfill their end of the contract |
| finance. In this way you can find someone, rather | | | | before the time to refinance expires. Because in |
| fast, who is willing to give you a down payment | | | | most cases you are going to keep the option |
| and a monthly payment amount that is equal to | | | | money which will help you find another buyer if |
| or greater than your house payment, taxes and | | | | you need to. |