It goes without saying that as the years go on your needs will change. And this most likely will include what type of house you live in. The one that you lived in at age 35 may not necessarily be the one you still want at age 65. Paying a mortgage on an unwanted house can be incredibly stressful and frustrating.
We are trusted and experienced house buyers in Tyngsboro. We can purchase your house quickly and take care of all the repairs and cleaning. If you just not sure what to do about your current living arrangements, this post offers 5 ways to get out of your mortgage so you can move on with your life! Contact Summit Buys Houses if you feel stuck with a property in Tyngsboro you no longer want to live in or just doesn’t serve your needs any more.
#1. Sell Your Tyngsboro House Fast
Selling your house to a direct buyer is the by far the easiest and most convenient way to move on to the next chapter of your life. Our company buys houses directly from Tyngsborough homeowners and can close in a very short period of time if that is what you’d want to do.
Consider These Benefits…
Selling your house fast in Tyngsboro will save you a fortune on holding costs. If you’re not sure what we mean by “holding costs”, these are expenses you must continue to pay while you wait the 3-6 months for your home to sell on the Massachusetts MLS. Holding costs normally include continued your electric, water and heating utilities, maintenance and upkeep, property taxes, homeowners insurance premiums, and more.
While it is true that selling your house with a traditional MLS listing can be effective, the process can end up taking several months and will cost a lot of money in realtor commissions. (The sale of a $400,000 house will cost you $24,000 in commissions!) If you’re one of those folks in Tyngsboro hoping to sell sooner rather than later, a direct all-cash sale to Summit Buys Houses will save you 6 months of waiting while keeping that money for the 6% commission in your own wallet.
Best of all—there are no uncertainties about how long it will take to find an interested buyer, if the buyer will actually qualify for a loan to buy your house, or if the bank appraisals will give the condition of your house an approval. How can you put a price on the peace of mind you need?
#2. Hire An Tyngsboro Real Estate Agent
When it is time to sell their home, many people choose to hire a Tyngsboro real estate agent. While an agent can be beneficial in some transactions, in others, the costs, fees and time will turn out to be just 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.
Exactly How Do I Do That?
There are situations where making repairs, having the house cleaned out, paying real estate commissions, and waiting 3-6 months to close on your property sale are perfectly fine for you. In that case, hiring a Tyngsboro real estate agent may be the best option for you. On the other hand, if you’d like to pay off your mortgage right away, you may be better off selling your house directly to a company that has experience buying houses in the Tyngsborough neighborhoods.
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—and we’ll do it all on your schedule. So for example, if you want to spend one last Christmas season in your home—we can arrange to buy your Tyngsborough house early in January. But on the other hand, perhaps you have a new residence already to move into, we can close the sale of your home in as little as 10 days. It’s always on your schedule and you’re always in control!
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—and we’ll do it all on your schedule. So for example, if you want to spend one last Christmas season in your home—we can arrange to buy your Tyngsborough house early in January. But on the other hand, perhaps you have a new residence already to move into, we can close the sale of your home in as little as 10 days. It’s always on your schedule and you’re always in control!
#3. Don’t Sell Your Tyngsboro House—Rent It Out!
An alternative to selling your house few people consider at first is to find a tenant who will pay your mortgage for you. While technically you will still be on the hook for the mortgage payment each month, you may be able to obtain rental income that will pay your mortgage, property taxes and maintenance costs. 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, you could do a Google search for Tyngsborough property management companies. Then you could have a relatively “hands-off” rental property if you can find great tenants!
#4. Gift Your Tyngsboro House
You don’t necessarily have to give your house away, but you could “gift” it to someone else that is close to you and have them assume the mortgage. In that scenario, they take over the responsibilities of paying the mortgage, property taxes, homeowner’s insurance and maintenance.
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.
Conclusion
Are you ready to get out of your Tyngsboro house and move onto the next chapter of your life? We buy houses in Tyngsborough all the time. As a result, 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
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We buy houses in Tyngsboro for cash and all over Massachusetts in places like Lowell, Woburn, Fitchburg, Andover, Billerica, Burlington and Westford to name just a few. So if you’re interested in selling your home anywhere in the Middlesex, Essex and Worcester counties of Massachusetts—contact us for a quick, confidential, no-obligation cash offer and the best, no-pressure advice. “Summit Buys Houses” is Summit RE Group LLC and is registered to operate in Massachusetts, New Hampshire and Nevada.