As the years go by, people will often own a house only to have their needs change. Paying a mortgage on an unwanted house can be incredibly stressful and frustrating. If you feel stuck with your current situation, this post offers 5 ways to get out of your mortgage in Tyngsboro so you can move on with your life! Summit Buys Houses in Tyngsboro for cash. We can purchase your house quickly and take care of all the repairs and cleaning. Call us if you feel stuck with a property you no longer want.
Paying an expensive mortgage month in and month out can take its toll. Especially if you have grown out of the house and are looking for something different. Below, we offer information to help you get out of your mortgage fast, without having to worry about excessive fees or penalties. If you have any questions about getting out of your mortgage in Tyngsboro, we want to hear from you!
#1. Sell Your Tyngsboro House Fast
The easiest and most convenient way to get out of your mortgage in Tyngsboro is to sell your house to a direct buyer. Summit Buys Houses buys houses directly from local homeowners and can close in only a matter of days. Selling your house fast in Tyngsboro will save you a fortune on holding costs including continued utilities, property maintenance, taxes, homeowners insurance premiums, and more. It is also true that selling your house with a traditional MLS listing can be effective, but the process can end up taking several months while costing you a lot of money. (The sale of a $400,000 house will cost you $24,000 in commissions!) For those who are looking to sell right away, a direct sale to Summit Buys Houses will help to save time and commissions, while giving you the peace of mind you need!
#2. Hire An Tyngsboro Agent
Many people choose to hire a Tyngsboro real estate agent when it is time to sell their home. While an agent can be beneficial in some transactions, in others, the costs, fees and time are not worth it. You owe it to yourself (and your wallet) to do a careful comparison regarding how much money you’ll actually walk away from the closing table with.
There are situations where making repairs, having the house cleaned out, paying agent real estate commissions and waiting 4-5 months to close, hiring a Tyngsboro real estate agent may be the best option for you. On the other hand, if you need to get out of your mortgage right away, you may be better off with selling your house directly. While an agent can end up being very expensive, working with our team will help you get out of the mortgage for your unwanted Tyngsboro house without any costs to you in a minimal amount of time.
#3. Rent Your Tyngsboro House
While technically you will still be on the hook for the mortgage payment each month, you will be able to have your tenants pay it for you. Finding the right tenants can not only help to pay off your mortgage, but you may be able to collect passive income this way too. Keep in mind that not all properties make great rentals and not everyone is cut out to be a landlord. Even still, if you find the right property management company, you can find great tenants, rent out your property, and have someone else pay your mortgage for you.
#4. Gift Your Tyngsboro House
You don’t necessarily have to give the property away, but you can give it so someone else and have them assume the mortgage. Maybe you have children or another family member who would be interested in having the house. You can either have them assume the mortgage if possible, or you can sell it to them for what you owe, ensuring your debt gets paid off, without any further penalties or fees. You will benefit by cutting your ties with the house, whereas your friend or family member will score a great deal by taking the property off of your hands. It’s a win-win situation for everyone involved.
#5. Enter Into A Rent To Own Agreement
You can choose to sell your Tyngsboro house using a rent-to-own agreement. This works great for those who want to sell for full market value and don’t mind waiting a while before the home is sold. A rent to own agreement will open the door to numerous potential buyers, giving you better odds of a fast sale at a great price. While you won’t see the entirety of the sale price right away, you will be able to collect higher than average rent, a deposit, and guaranteed income for the next 2-3 years. Once the rental term is up, your tenant will have the option to buy the house outright. If they are unable to, the house will remain in your name, and you can either choose to sell it or rent it out to another individual.
Are you ready to pay off your mortgage in Tyngsboro and move on? Working with Summit Buys Houses will help you get the price you want for your house while saving you a fortune along the way. We can help you get out of your mortgage so you don’t have to feel stuck with your unwanted property any longer! If you need to sell your house fast, our team is here to support you!
If you want to learn more about how to get out of your mortgage in Tyngsboro, reach out to our team! We have answers to all of your selling questions! (978) 254-3800