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Ely - What's Stopping Your Home From Being Sold?

In the real estate industry, a Distressed Property is one that is assessed to be in poor physical or financial condition for the purposes of immediate sale. It is a general term used for homes and properties that are in poor repair, in a stage of default, owned by a person experiencing financial hardship, or is exceeded in current market value by liens taken out against it. What makes these properties so difficult to sell through traditional channels is that buyers in the market for a new home typically look for houses without these issues, or are only willing to pay a minimal price that is less than satisfactory to the seller. As a result, these properties often stagnate on local real estate markets for months or even years while a stream of required inspections and repairs slowly drains any potential profit out of a sale. Worse, these distressed homes can also necessitate that special provisions be placed into standard contracts, meaning that minor stipulations often cause these deals to fall through at the closing table. Even after the property is sold on the conventional real estate market, closing costs and commissions commonly take one last chunk out of the proceeds, leaving the seller with only a small sum after a long, difficult struggle. For these reasons, we offer motivated sellers in the area a faster, more convenient route to selling their unwanted properties. With our no obligation process, we can estimate our required investment in your home and factor it into a fair market rate. When you decide to sell your home, we'll conduct a brief walkthrough of the property, and your lump sum payment is usually ready within 30 days.

Foreclosure - Motivated Seller
Must Sell Ely Home | FAQ 1

Will you buy my Ely property as-is?

Yes, we make cash offers based on our in depth analysis. We do require the ability to inspect the property, but at our cost and we will not request you to make any changes or repairs to the property. Before you list your Ely property, you may want to consider our AS IS, all cash offer. It is going to take you 'x' amount of money and effort to get your property in 'listing ready' condition. On top of that if you go with us, you will NOT have to pay the commissions that you will be paying to the listing brokers if you sell it on the MLS.

Must Sell Ely Home | FAQ 2

How fast can you close/How fast can we get paid?

Unless there are extra liens on the property, or clouds on the title that need to be addressed by Title and Escrow, we can close in less than 30 days.

Must Sell Ely Home | FAQ 3

What do you do with the money you make from my property?

Right off the top, 5% goes to vetted Military Veteran Charities that help reduce the rate of Veteran Suicide in the US. A portion goes back into the company for marketing and expenses, and the rest goes towards buying rental properties all over the US.

Must Sell Ely Home | FAQ 4

Do I need to provide any specific information about the home?

We are going to need to see verifiable information regarding any mortgage balance on the home, and notices that include any payments you are behind on, or other liens or debts that affect the Ely home.

Must Sell Ely Home | FAQ 5

Why should I sell my home to you, versus some other investor?

We don't view your situation as an opportunity to take advantage of you. Our interest as real estate agents and investors is to provide a legitimate solution to your real estate problems. Our intent is to have everyone walk away from the transaction feeling satisfied. Selling to us also gives our organization the ability to provide charitable donations to military veteran service members in need. We will ONLY work with you if there is a WIN WIN outcome.

Must Sell Ely Home | FAQ 6

What if my house needs a lot of repairs?

We're not scared of repairs. We typically buy properties that require work. Whether that work is only paint and carpet or a full renovation and modernization. Whatever is needed, we have no problem with either scenario as they are all necessary in order to make the property sale ready.

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Selling Your Inherited Ely Home

Selling your inherited house can come with a number of legal entanglements such as liens and estate taxes as well as the emotional burden of depersonalizing what may be a meaningful place. It can be particularly problematic in the case of default, in which the mortgage must continue to be paid or risk foreclosure in many jurisdictions. Further complicating matters, there is often a 'creditor claims' period during which all assumed rights to the property are verified. During these various processes, homeowners can be burdened with the costs of everyday upkeep as well as legal expenses related to the transfer and eventual sale of the house.

Foreclosure - Motivated Seller in Ely

Can I Sell My Home with Major Foundation Issues?

We are an area leader in purchasing Ely homes with damaged foundations and other major issues for years, and is here to offer fast cash for your unwanted property. We provide a no-obligation appraisal for your property through our convenient application process, and we purchase your home as-is so you won't have to worry about skittish buyers or expensive repairs. When you sell your house to us, we pay all of your standard closing costs. We never turn down homes with damaged foundations, because we want to offer the financial flexibility you need. We are a local leader in buying distressed homes, and can offer you the fast cash settlement you need. Talk to one of our friendly representatives for a free consultation.

Must Sell Damaged Ely Property Fast

Can I Sell My Home with Termite Damage?

Once you've sold your Ely home to us, your termite damage is our problem. We handle all the repairs and renovations while keeping pace with the open connect your home with buyers'all you do is enjoy your cash payment. Selling your home through conventional real estate channels can take months, and the process can be even more difficult when your home has termite damage, so sell it to us! When you work with us, we pay all your standard closing costs, so you can get the most possible financial flexibility from the proceeds of the sale. We relieve you of the burden of a termite damaged home so you can move on to the next chapter of your life. Contact one of our helpful representatives to begin your no-obligation evaluation process.

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Repair History

Even in the case of distressed homes that undergo repairs to address their structural and other habitability issues, thousands in repairs are no guarantee of a quick sale at a fair market price. Many jurisdictions will require that sellers report required home repairs such as flood damage, termite infestation, and mold treatments to any prospective buyer.

Death on Property

A death taking place on the property is another surprising factor in the value of a distressed home, even in situations unrelated to the homeowner. A recent study indicates that 2 out of 5 interested homebuyers would decline to purchase a home outright under these circumstances, and as a result many jurisdictions require any deaths on the property to be reported by law. Even for a distressed home with minimal physical damage for a buyer to address, this can make selling a home much more difficult.

Future Development

The true value of owning a property is not in the building, which will inevitably degrade over time. Instead, a property's value is in the land itself, a finite resource that typically appreciates in value. This means that the long term outlook for the area in which the property is located is one of the most dynamic factors in the value of a home.

Surprising Factors in Local Home Values

When it comes to determining the fair market value for a property, the factors go far beyond square footage and location. There are many other less immediately visible aspects that contribute to the overall value of a home, and many homeowners do not adequately consider them when it comes to the realities of placing their homes on the local real estate market.

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Contact us now to sell your house today

When you call , we'll go over the details of your house with you. It won't take us long to put together the details and give you an offer
You dont't have to take it, you're not obligated to us for anything . But call to get our bid , we're extremely competitive and will get your home off
of your hands conveniently , so you don't have to worry anymore . Call us now to discuss!

We offer competitive bids on all
properties in the greater Ely metro area.

 

Additional Materials:

Ely City Information

Ely Foreclosure - Sell Your Home Fast Articles

Auction Home City Links

Ely - Why haven't you sold your home yet? Video

 

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Information for Ely, Nevada

Ely, city, seat (1886) of White Pine county, east-central Nevada, U.S. It isadjacentto East Ely, near the Utah border. Established in 1868 as a gold-mining camp and probably named for John Ely, a mining promoter, thecommunityexpanded after 1907 with large-scale copper mining. Copper and other mining industries in the area underwent a major decline in the 1970s and early '80s, with modest recovery in the mid-1990s, when new gold, silver, and copper operations opened. There is extensive ranching in the locality. Ely is a base for tourists attracted by the region's many mining ghost towns and recreational facilities. The White Pine Public Museum and the Nevada Northern Railway Museum include mining and transportation exhibits. Parts of Humboldt National Forest are nearby. To the southeast is Great Basin National Park and to the south, the Ward Charcoal Ovens Historic State Monument, the site of stone beehive ovens used to produce charcoal for smelting in the 1870s. Inc. 1907. Pop. (2000) 4, 041; (2010) 4, 255.Stone beehive ovens at the Ward Charcoal Ovens Historic State Monument, near Ely, Nevada. An63ca

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Ely - What's Stopping Your Home From Being Sold? Articles

Distressed Properties FAQs

What are Distressed Properties?
In real estate, if a homeowner suffers from financial problems, which render him unable to meet his monthly mortgage obligations, he is said to be in distress and the home is referred to as a Distressed Property. Based on the stage of foreclosure the property is in, it can be classified as a pre-foreclosure, foreclosure at auction or a bank owned home/repo home.

For more information, simply check our What are Distressed Properties? page.

How to buy distressed properties?
Buying distressed homes is simple enough. You only need to determine where in the stage of foreclosure is your entry point and understand what is involved in purchasing these properties. Each stage will require a different approach, so it is also crucial you do your homework even before you search for the perfect distressed property.

To help you make sure your purchase is a success, check out the How to Buy Distressed Properties page.

How to invest in distressed properties?
Considering the impressive profit potential offered by distressed properties, it is not surprising buyers are presented with numerous investment opportunities. You will find investing in these distressed homes is quite lucrative. Of course, in order to maximize the said potential, you have to make sure you know and understand what is involved in each of these opportunities.

You can refer to the Guide in Investing in Distressed Properties for more information.

How to find distressed properties?
When it comes to finding distressed properties, there are actually several ways to do so. You can choose to go the traditional route and search neighborhoods or scan classified ads in newspapers. But there is actually a more efficient and convenient way - there are distribution centers.

We offer a large selection of distressed houses for sale, including pre foreclosures, foreclosures at auction and bank owned properties located in all 50 US states. You will have easy access to all relevant information pertaining to these homes with just a few clicks in your computer. Finding the best deal on a distressed property which meets your budget and preferences will always be hassle-free.

Is there a specific type of distressed properties which is more profitable to invest in?
You will be pleased to know that despite the many types of distressed properties, all of them promise to be profitable. Your choice will simply have to depend on your resources and needs. Since each type of distressed home offers their own advantages, you have to determine which type you are comfortable of buying and eventually owning.

Are distressed homes always sold as is?
In general, distressed properties are sold as is. For this reason, you have to conduct a thorough inspection of the property to see the extent of repair work needed. Hiring a professional inspector is strongly recommended. In few cases, the seller will agree to agree to shoulder the repair cost as long as they are minimal. It is really a matter of knowing exactly what you are buying and negotiating with the seller.

What Are Handyman Specials?
Distressed properties which require extensive repair are usually referred to as Handyman Specials. They are usually sold at very low prices since the buyer will have to spend much on repair and renovation. It is important you know exactly how much it would cost you to have the property fixed up to estimate your potential profit. You can do so by working with an experienced and professional contractor.

What are Fixer Upper Homes?
These distressed properties - as their name suggest - requires fixing up. Investors consider these properties as the perfect choice for flipping since they can be bought for a fraction of their market values. Obviously, you will have to order a thorough home inspection to determine how much it will cost you to repair the property. Once they have been repaired and renovated, they can be sold for considerable profit, which is why many real estate investors consider them gold mines.

What do I need to get started with distressed homes investing?
To get you started on your distressed homes investing, you will need to educate yourself about everything there is to know about properties in distress from buying to cashing in on your investment. Of course, you have to understand your success will be greatly dependent on finding the best deals.




 


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Are distressed homes always sold "as is"?

In general, distressed properties are sold "as is". For this reason, you have to conduct a thorough inspection of the property to see the extent of repair work needed. Hiring a professional inspector is strongly recommended. In few cases, the seller will agree to agree to shoulder the repair cost as long as they are minimal. It is really a matter of knowing exactly what you are buying and negotiating with the seller.

  • What Are Handyman Specials?
  • What are Fixer Upper Homes?
  • What do I need to get started?

 

 

 

 

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Closely Related Topics: What's Stopping Your Home From Being Sold?

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