Get Started On Your Fair Offer >>

  • This field is for validation purposes and should be left unchanged.
×

What Does it Mean to Have a Distressed Property?

Distressed property may be a property that is either in an advanced state of disrepair, which is obvious, and may also have landscaping that has grown wild and is potentially damaging structures or the foundation or facing an impending foreclosure process. Although listing and selling your home is a complicated and stressful process during the best of times, these problems become exacerbated by the pressures of time or financial stress. Should you have a distressed property in Texas, read on to learn what it may mean to you.

Time Marches On

If you have a distressed property in Texas because you’re facing foreclosure due to missed mortgage payments, you’ve likely started receiving notifications from the lender, now is not the time to stick your head in the sand.  If you’re dealing with more significant problems with the house than you can handle, physically or financially ultimately, the longer you wait, the more expensive and extensive the repairs are becoming by the day. Another issue with listing your home for sale on the real estate market with a distressed property is the additional reduction in price caused by the property lingering on the market because buyers prefer homes in ready-to-move-in condition so that you may get little interest on the MLS. Most buyers that are looking for on-market properties are pickier about buying a property as-is. A distressed property listed for a more extended period than the average listing gives buyers pause when scrolling through properties and can further delay your sale. A direct buyer like those at Millennial Home Solutions does not mind buying distressed real estate and will make you an offer with a guaranteed closing date within days or set to the day that’s convenient for you.

Using a Real Estate Agent

The traditional marketplace and listing process aren’t always suitable for distressed property in Texas. Understanding that you’re not in the best of positions for bargaining if you’re working under time constraints or have serious concerns about passing the inevitable inspection, you’re likely aware the offers you get, if any, will be far less than fair market value. In addition to the real estate commissions, fees and closing costs can quickly eat away at your remaining profits. On the other hand, professional home buyers like those at Millennial Home Solutions don’t charge commissions. They are comfortable buying distressed properties because this is what they do on a regular basis, the physical appearance of your distressed real estate will not turn them away.

Listing Your Property Yourself

Much like listing with a real estate agent when you have a distressed property in Texas, you’ll face all of the same expenditures, less the commissions. Your emotional and financial investment in the home can make negotiations difficult, especially when the offer is insultingly low. A direct buyer will lay out precisely what your home would earn through the listing and the expenses you would pay vs. accepting our cash offer, which comes with no out-of-pocket costs and is the amount you’ll receive at the closing. You can sell your house as-is to a direct buyer when you have a distressed property in Texas. The direct buyers at Millennial Home Solutions don’t hide any details about the amount of our offer, which you’ll agree is fair. 

Millennial Home Solutions

At Millennial Home Solutions, there are no pressured sales; we are upfront about everything because we want you to make an educated decision based on the numbers and the problems you face. By working with a direct buyer like those at Millennial Home Solutions, you can avoid the commissions and closing costs, making repairs, and all of the other typical out-of-pocket expenses and hassles of listing your distressed property. The direct buyers at Millennial Home Solutions will stop, taking the time to listen carefully to you, understand your concerns, and answer your questions thoroughly, with no obligation whatsoever. We do this because at Millennial Home Solutions, we want you to be certain that you made the best choice out of all options available for your situation. Contact Millennial Home Solutions today at (281) 640-0447 to learn more!