What Are My Options When Selling My House To Tex?

Sell Now for Quick Cash

The easiest and fastest way to sell your home, or any home for that matter, is to sell it to a CASH buyer. With a cash buyer like Tex, you don’t have to wait around on mortgage preapprovals, inspections, and all of the other mundane tasks involved with a traditional loan. You are dealing with the sole decision maker from day one so there are no middle men to blame or muddy the waters. We can generally close in about a week if necessary and even pay all closing costs to make the deal as simple as possible. We offer a simple flat price with no calculations involved. If we offer you $200,000 for your home and that home is free of any back taxes or liens, you walk away with $200,000 on the nose! No confusing calculations to make it seem like you are getting more money for your house than you actually are.

Sign a Contract Now and Close when it works for you

Many times we are purchasing a house that is occupied by an owner, tenant or a family member of the owner, and closing immediately isn’t an option. We are very flexible with our sellers and work with them in any way possible to make the process of selling their house an easy one. When we sign a contract, we will sit down with you and schedule a closing date that works best for your current situation and needs. If you need 2 months to move out, we can schedule the closing for 2 months down the road. If your tenant’s lease is up in 6 months, we can schedule the closing for the day they move out. We are constantly buying houses, so the date that we close is not that important to us. We want to meet your needs by closing as soon or late as you like.

Sell Now for Quick Cash, Then lease the house back from us for a short period

Sometimes when we purchase a home, the homeowner might need to get some of the proceeds from the sale of the house before they can move on to another house or city. In this case we can just lease your home back to you for a short period of time until you have time to secure a new home to move into.

Sell Immediately with Owner Financing

A great way to get a little bit more money for your house and still sell it really quick is to sell it with owner financing. If you own your property outright, then we can pay you a large down payment and then we will pay you around 8% interest on the remaining sales price. This can be a great option if you want to spread out your capital gains tax over more than one tax period. Obviously we aren’t accountants, so check with a professional first, but we’ve helped many sellers get a substantial amount more for their property by owner financing the purchase. More money plus around 8% interest off a portion of the price! Compare that to the interest rate the bank will be giving you if you put that money in a CD (around .25% for a 10 year in 2012). If we purchase your home with owner financing, we are essentially paying a down payment and then a monthly mortgage payment to the you as the seller. It’s just like getting rent, except that we buy the home and take care of any and all maintenance, improvements, taxes, etc. Buying a home using owner financing saves me thousands of dollars in extra closing costs and financing fees and that savings goes directly back to you, the seller! Any home (and mortgage) can be offered with owner financing if the right legal arrangements are made.

Sell Immediately “Subject-To” Your Existing Mortgage

Another technique Tex uses to buy homes quickly is to purchase the property “Subject-To” the existing financing. This method is very similar to owner financing, however, in this transaction the you, as the seller, would deed the property to the us, and then we make the payments on the loan directly to the lender moving forward. This closing can take place at a title company just like any other transaction and just like a cash purchase, after we purchase the home, you are no longer involved with the property. This process of purchasing a home is similar to a loan assumption, which has been around for years and years. What differentiates a “subject-to” from an “assumption” is the fact that the responsibilities transfer to the new owner, TEX, but the mortgage is still in your, the seller, name.

Allow us to purchase your house by negotiating a “short sale” with your current lender

When you have little to no equity in your home and the value has dropped below your loan amount, often the only way to sell a home is a short sale. When we buy a home and try to “work a short sale”, we work with a homeowner to negotiate with the homeowner’s lender. We have two goals in these negotiations; a) stop a home from being foreclosed on and subsequently going up for sale in a public auction, and b) negotiate a payoff amount that is lower than the existing amount owed on the mortgage. Using this method, the home can be purchased at a somewhat reduced price and a foreclosure can be avoided.

Sell your house now by allowing us to “wrap” your mortgage

A creative alternative to leasing may be selling with owner financing, using an instrument called a wrap-around mortgage, or “wrap”. A wrap is simply a new mortgage that is created that “wraps around” the old mortgage.