It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home.
When you buy, you can stabilize your housing costs, own a tangible asset, and grow your net worth as you gain equity. When you rent, you face rising housing costs, won’t see a return on your investment, and limit your ability to save.
If you want to learn more about the benefits of homeownership, let’s connect today.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
With so much talk about an economic slowdown, some people are asking if the housing market is heading for a crash like the one in 2008. To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information.
Here’s why economists and industry experts say the housing market is not a bubble ready to pop.
Today Is Nothing Like 2008
The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at First American,says:
“This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.”
Natalie Campisi, Advisor Staff for Forbes, explains how today’s lending standards are different than those during the lead-up to the housing market crash:
“Among the differences between today’s housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period.”
Another reason today’s housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As realtor.comnotes:
“. . . experts don’t believe the market is in a bubble or a crash is in the cards, like during the Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”
Bottom Line
Experts say the housing market isn’t a bubble, and we’re not heading for a crash. Let’s connect so you can have a full picture of today’s housing market in our local area.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.
The Future of Home Price Appreciation
Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):
Estimated Home Price Performance
As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“People should not anticipate another double-digit price appreciation. Those days are over. . . .We may return to more normal price appreciation of 4%, 5% a year.”
For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead.
What Does That Mean for You?
To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomicssurvey mentioned above (see graph below):
Potential Growth in Household Wealth
As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.
Bottom Line
If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation. Let’s connect to begin your homebuying process today.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
When parents age there needs to be some changes made. It often means that the kids have to attend to this. One of the factors may be that I have to sell my parents house before death. This is a big task for you. It is not one that you do everyday. So it is not one that you are familiar with. The sell my parents house before death task is one that many people face.
Sell Your Elderly Parents Home
Selling parents house means that you have a lot to learn. First, you have to know what options are available to you. I have to sell my parents house before death may mean fewer legalities. It is when it’s compared to selling your parents house after they have passed away. This usually means even greater legal issues.
You have some decisions to make to sell your elderly parents home. It includes which options are you going to pick to sell my parents house before death.
Sell My Parents House Before Death Preparations
Before thinking about selling the house, it has to be ready for sale. For several of the house selling options you have no choice but to do this. Most home buyers will want a home inspection done. If you don’t do the repairs it may not pass inspection. There will be some disappointments when potential sales fall through. All because it didn’t pass inspection. This brings another challenge for you. Now you have to do the repairs which may be unsettling for your parents. Then there is going to be a cost involved.
Legalities for the can I sell my parents house before death question
Added to all of this are the legalities. Permission has to be obtained in answer to the question can I sell my parents house before death. You may need the power of attorney for them. It is a legal document that allows you to act on their behalf.
Sell House By Owner Options
You may be familiar with the sell house by owner option. For awhile it became quite a trend. After seeing how difficult it can be many people no longer try. Still you need to know what it entails. You need to look at all the selling parents house options.
You may decide that to sell my parents house before death this is the best method. Perhaps you are looking at it as a way to save money on real estate fees. It is true that you can do this. But chances are you will have higher legal fees.
There are a lot of legal documents that come with selling a house. If these are not prepared in a proper manner it can cause problems. It could cause the sale of the house to fall through. It may mean you need to hire a lawyer to do extra work. This is the work that in normal situations the realtor would do.
You also have to accept to sell my parents house before death that this option is difficult. It means you will be the one that always has to be on call for showings. Plus, you are going to have the task of marketing the house. This is time consuming. Plus, it takes a certain amount of expertise. You don’t have all the resources that the real estate agent has. Then added to this is how to set the price. You want a fair price when you need to sell my parents house before death. Chances are they need the money from the sale to live on. They are going to have to move. Finding new accommodations costs money. You need to decide if you have the time and expertise to see my parents house before death. If you are going to use this option.
Using a Real Estate Agency
Think about using professionals. It is another option to consider for the sell my parents house before death task . It means now relying on a real estate agent. This will help with some of the burden of selling someone else’s home. For the most part they will look after the marketing. Plus, they look after a lot of the legal paper work.
There are going to be several downsides to this. Your parents may feel unsettled. They have a stranger looking after some of their affairs. This unknown individual is going to be bringing strangers through their home. Then it could take weeks or months for the sale. During this entire time it is stressful for your parents.
The Sell House for Cash
There is one more option for the sell my parents house before death task. It the sell house for cash opportunity. There are professionals investors that are willing to pay cash for the house. In this situation a cash deal may be perfect.
It means that there won’t be any strangers coming through the home to view it. It eliminates the needs for the repairs that may need doing. Cash buyers will not expect the completion of any repairs . This is a huge relief because it cuts down on the disruption to your parents.
Your parents are now going to have to move somewhere. It may mean they need cash to do this. Buy using the sell house for cash there are no mortgages that need arranging . Which can often be a problem with other buyers.
Then there are the savings on the real estate costs. The legalities for selling the house this way are far less of a burden. It can mean a lot less cost in lawyers fees.
The transition that takes place with the sell house for cash is smooth and hassle free. It creates the ideal situation for your parents. For you the sell my parents house before death is a problem solved. You no longer need to worry about where you are going to get the time to do this. Plus, you don’t have to educate yourself about home selling. Your parents don’t need to stew over about what is going to happen to the house. Having cash offered to them may be a great incentive for them.
The cash offer can help to offset the disappointment they may be feeling. It can be upsetting for them to leave their home. The cash is going to give them something to look forward to. There are no worries about home buyers coming back with complaints. Nor is there the frustration of having to deal with real estate transactions. Especially when they that tend to fall through.
Need to Sell Your Parents’ House Now?
At PHP Houses we specialize in a quick sale so that you can get on with the more important things in life. Don’t stress out about selling your parents’ house. In the event you need to sell your parents’ house before death, give us a call at 407-641-1531. We would love to answer any questions about the house selling process that you might have.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Expert Housing Market Forecasts for the Second Half of the Year
The housing market is at a turning point, and if you’re thinking of buying or selling a home, that may leave you wondering: is it still a good time to buy a home? Should I make a move this year? To help answer those questions, let’s turn to the experts for projections on what the second half of the year holds for residential real estate.
Where Mortgage Rates Will Go Depends on Inflation
While one of the big questions on all buyers’ minds is where will mortgage rates go in the months ahead, no one has a crystal ball to know exactly what’ll happen in the future. What housing market experts know for sure is that the record-low mortgage rates during the pandemic were an outlier, not the norm.
This year, rates have climbed over 2% due to the Federal Reserve’s response to rising inflation. If inflation continues to rise, it’s likely that mortgage rates will respond. Greg McBride, Chief Financial Analyst at Bankrate, explains it well:
“Until inflation peaks, mortgage rates won’t either. Without improvement on the inflation front, we don’t know where the interest rate ceiling will be.”
Whether you’re buying your first home or selling your current house to make a move, today’s mortgage rate is an important factor to consider. When rates rise, they impact affordability and your purchasing power. That’s why it’s crucial to work with a team of professionals, so you have expert advice to help you make an informed decision about your best move.
The Supply of Homes for Sale Projected To Continue Increasing
This year, particularly this spring, the number of homes for sale has grown. That’s partly due to more homeowners listing their houses, but also because higher mortgage rates have helped ease the intensity of buyer demand. Moderating buyer demand slows down the pace of home sales, which in turn helps inventory rise.
Experts say that growth will continue. Recently, realtor.com updated their 2022 inventory forecast. In the latest release, they increased their projections for inventory gains dramatically, going from a 0.3% increase at the beginning of the year to a 15.0% jump by the end of 2022 (see graph below):
Housing Inventory Forecast for 2022
More homes to choose from is great news if you’re craving more options for your home search – just know that there isn’t a sudden surplus of inventory on the horizon. Housing supply is still low, so you’ll need to partner with an agent to stay on top of what’s available in your market and move fast when you find the one. It’s not going to be easy to find a home, but it certainly won’t be as difficult as it has been over the past two years.
Home Price Forecasts Call for Ongoing Appreciation
Due to the imbalance between the number of homes for sale and the number of buyers looking to make a purchase, the pandemic led to record-breaking increases in home prices. According to CoreLogic, homes appreciated by 15% in 2021, and they’ve continued to rise this year.
Even though housing supply is increasing today, there are still more buyers than there are homes for sale, and that’s maintaining the upward pressure on home prices. That’s why experts are not calling for prices to decline, rather they’re forecasting they’ll continue to climb, just at a more moderate pace this year. On average, homes are projected to appreciate by about 8.5% in 2022 (see graph below):
Home Price Forecasts for 2022
Selma Hepp, Deputy Chief Economist at CoreLogic, explains why the housing market will see deceleration, but not depreciation, in prices:
“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”
For current homeowners looking to sell, know your home’s value isn’t projected to fall, but waiting to make your purchase does mean your next home could cost more as home prices continue to appreciate. That’s why, if you’re thinking about buying your first home or you’re ready to make a move, it may make sense to do so now before prices climb higher. But rest assured, once you buy a home, that price appreciation will help grow the value of your investment.
Bottom Line
Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can determine the best plan for your move.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
The Drop in Mortgage Rates Brings Good News for Homebuyers
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news.
Freddie Macreports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below):
Mortgage Rates Dropped by Half a Percent
But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains:
“According to Freddie Mac, the 30-year fixed mortgage rate dropped sharply by 40 basis points to 5.3 percent. . . . As a result, home buying is about 5 percent more affordable than a week ago. This translates to about $100 less every month on a mortgage payment.”
That’s because when rates go up (as they have for the majority of this year), they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. The inverse is also true. A decrease in mortgage rates means an increase in your purchasing power.
The chart below shows how a half-point, or even a quarter-point, change in mortgage rates can impact your monthly payment:
Buyer’s Purchasing Power
Bottom Line
If your home doesn’t meet your needs, this may be the opportunity you’ve been waiting for. Let’s connect to see how you can benefit from the current drop in mortgage rates.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point.
As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.com, explains:
“New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago. Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options.”
This is encouraging news. More homes coming onto the market give you a greater chance of finding one that checks all your boxes.
Buyer Competition Moderating Helps Inventory Grow Even More
Mark Fleming, Chief Economist at First American, says inventory growth is happening not just because there’s an increase in the number of listings coming onto the market, but also because buyer demand has moderated some in light of higher mortgage rates and other economic factors:
“There has been a pickup in the inventory that we’ve seen recently, but it’s not from a big increase in new listings . . . but rather a slowdown in the pace of sales. And remember that months’ supply measures the inventory of sale relative to the pace of sales. Same inventory, fewer sales, means more months’ supply.”
Basically, the market is shifting away from the frenzy of buyer competition seen during the pandemic, and that’s helping available inventory grow. In their latest forecast, realtor.com also mentions the moderation of demand as a key factor and projects the inventory growth should continue:
“As rising inflation and mortgage rates bring U.S. housing demand back from the 2021 frenzy, . . . inventory will grow double-digits over 2021 and offer buyers a better-than-expected chance to find a home.”
How This Impacts You
The combination of more homes coming onto the market and a slower pace of home sales means you’ll have more options to choose from as you search for your next home. That’s great news if you’ve been searching for a while with little to no luck. Just remember, there isn’t a sudden surplus of inventory, just more homes to choose from than even a few months ago. So, you’ll still want to be decisive and move fast when you find the right home for you.
And when you do, you may be faced with less competition from other buyers too. If you’ve been waiting to jump into the market because the intensity of the bidding wars was intimidating or if you’ve been outbid on several homes, this moderation could help make the homebuying process a bit smoother. It’s not that it’ll be easy or that bidding wars are a thing of the past – that’s not the case. But it won’t feel nearly as impossible.
Bottom Line
As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process today.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Homeownership Could Be in Reach with Down Payment Assistance Programs
A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home.
If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your homeownership goals. The key is understanding where to look and learning what options are available. Here’s some information that can help you.
You Can Qualify Even if You’ve Purchased a Home Before
There are several misconceptions about down payment assistance programs. For starters, many people believe there’s only assistance available for first-time homebuyers. While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest Homeownership Program Index from downpaymentresource.com:
“It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.”
That means repeat buyers could qualify for over one-third of the assistance programs available. And if you’re a repeat buyer, you may still be able to take advantage of some first-time homebuyer programs, depending on your personal situation. That’s because downpaymentresource.com also notes many of the first-time homebuyer programs use the U.S. Department of Housing and Urban Development’s definition of a first-time homebuyer. Under their definition, you could qualify as a first-time buyer if you’re:
Someone who hasn’t owned a primary residence in 3 years.
A single parent who’s only ever owned a home with a former spouse.
That means no matter where you are in your homeownership journey, there could be an option available for you.
You May Be Eligible for Programs Based on Your Location or Profession
In addition to broader options available for repeat and first-time homebuyers, there are other types of down payment assistance programs that you could qualify for based on your location. Accordingto the National Association of Realtors (NAR):
“Many local governments and non-profit organizations offer down-payment assistance grants and loans, targeted to area borrowers and often with specific borrower requirements.”
Plus, there are programs and special benefits for individuals working in certain professions or with unique statuses, including teachers, doctors and nurses, and veterans.
Ultimately, that means there are many federal, state, and local programs available for you to explore. The best way to do that is to connect with a local real estate professional and your lender to learn more about what’s available in your area.
Bottom Line
Down payment assistance programs have helped many homebuyers achieve their dreams, and if you qualify, they could help you too. Let’s connect today so you can begin exploring your options.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
What Does an Economic Slowdown Mean for the Housing Market?
According to a recent survey, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy.
All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: how will this affect the housing market? We know how economic slowdowns have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home?
“Throughout history, during a recessionary period, interest rates go up at the beginning of the recession. But in order to come out of a recession, interest rates are lowered to stimulate the economy moving forward.”
Here’s the data to back that up. If you look back at each recession going all the way to the early 1980s, here’s what happened to mortgage rates during those times (see chart below):
Mortgage Rates & Recessions
As the chart shows, historically, each time the economy slowed down, mortgage rates decreased. Fortune.com helps explain the trend like this:
“Over the past five recessions, mortgage rates have fallen an average of 1.8 percentage points from the peak seen during the recession to the trough. And in many cases, they continued to fall after the fact as it takes some time to turn things around even when the recession is technically over.”
And while history doesn’t always repeat itself, we can learn from it. While an economic slowdown needs to happen to help taper inflation, it hasn’t always been a bad thing for the housing market. Typically, it has meant that the cost to finance a home has gone down, and that’s a good thing.
Bottom Line
Concerns of a recession are rising. As the economy slows down, history tells us this would likely mean lower mortgage rates for those looking to refinance or buy a home. While no one knows exactly what the future holds, you can make the right decision for you by working with a trusted real estate professional to get expert advice on what’s happening in the housing market and what that means for your homeownership goals.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
When should seniors sell their homes? This has become a pressing question over the last few years. When it is time to sell your elderly parents home, what is the best way to go about it? For many, this is all new territory and it can be difficult to figure out the process especially if for some reason you need to sell parents house fast. If you are looking at helping your parents sell a home, or even as power of attorney sell a house for them, here are some important tips.
What if you need to sell your elderly parents home?
Should seniors sell their homes, or should their children do it for them? This can also be a difficult question to answer. Your first instinct may be to call a real estate agency and try to get it on the market. That is just one solution when you need to sell your elderly parents home. However, though it is a valid option, it can be a time consuming one. It can take months to make sure you have power of attorney to sell house, get it listed and find a qualified buyer. After that, you are still looking at months before closing. This just doesn’t work if you need to sell parents house fast. In the meantime, your parents are still responsible for the property and any payments that may be outstanding. Also, it can be difficult for them to qualify for medical assistance if they own a house.
Can I put their house up for sale by owner?
Putting a house up for sale by owner is another valid option if you need to sell your elderly parents home. However, you must be the owner to market it as a sale by owner proposition. You may have difficulty with this option even if you have power of attorney to sell house. If they deeded it to you, or if you are on the deed you may be able to use the for sale by owner option. But even then, it can take a long time to find a qualified buyer and secure the financing necessary. This can be an extremely difficult option if you need to sell parents house fast.
Do I need a power of attorney to sell a house belonging to my parents?
The short answer is yes. You will need a power of attorney to sell a house belonging to your parents. Even then, it has to be specified in the paperwork that you have the rights to handle their property or you won’t be able to sell it. If you have power of attorney or have been given the authority to sell parents home, you can sell house for cash to an investor.
Should seniors sell their home, or can I sell a house for cash?
As long as you have the authority, you can sell your parents house for cash. If you are in charge of making sure it gets sold to relieve them of the financial burden, or to help pay for their alternative living expenses, selling a house for cash is the fastest option.
How can I sell my parent’s house fast?
Are you are asking, “how can I sell my parents house fast?” It is possible with a cash buyer or an investor. They will come out to the property and do an informal assessment to determine how much the house is worth. Then they will make you a reasonable cash offer. You have the choice of taking it or refusing it if you want to. If you decide to take the offer, they will give you cash and then help complete the paperwork. It is a good option if you need to sell parents house fast, and they’ll have the cash in hand.
Should seniors sell their homes to a cash buyer?
Should seniors sell their homes to a cash buyer, even if their children are not involved? Yes, if they want to sell it fast. A cash buyer will take the house as is. This means there’s no need for repairs or renovations to be made to the property. They also won’t need to stage it or do anything to get it ready for showing. Selling to a cash buyer is much faster than putting it on the market and waiting for it to get just right so they can sell. They’ll have the money in hand, and the paperwork will complete in a short time. It’s the simplest and fastest way to sell their house so they can get out from under the financial strain.
Another benefit should seniors sell their home to a cash buyer is that they can avoid the hassle of trying to put it up for sale by owner. There’s no hassle, no setting up appointments to show the home, no annoying phone calls or anxious waiting. Sell house for cash is the fastest option available should seniors sell their homes before moving to another living environment.
Do you have a question about the house selling process? Do you want to get your no obligation cash offer for your parents house? Even if you don’t decide to sell, we’d love to answer any questions you might have. Give us a call today at 407-641-1531.
Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com
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