While the real estate market remains strong in many areas of the U.S., it might not be for your house. Be it the one you live in or a rental, it may be so old or worn down that it isn’t worth putting on the market even after spending thousands of dollars on renovations.
Looking at Alternatives
In this situation, owners need to seek alternate methods to sell their properties and move on. One of these is to go with an organization that says “we buy ugly houses in Boston.” However, before you select the first one you find from an internet search, here are three things to understand.
They Look at Your Home
Though the process involves describing your home’s condition over the phone, these companies that buy ugly houses still want to take a physical look. Since they are making an investment for extensive renovations or selling the land itself to start from scratch, they want to know if it’s worth providing an offer.
They Perform Title Searches
Companies that state “we buy ugly houses in Boston” want to ensure the property they’re investing in is legitimate. They will perform title searches and other investigations to make sure there are no liens or other blocks against the potential sale. Normally, these firms do not charge the seller for these items.
They Pay the Mortgage Company First
Though they promote cash sales for your home, it doesn’t mean these organizations give you all the money once the papers are signed. In order to close all accounts, company representatives pay lenders first. Then, they complete payments for any outstanding utilities, property taxes, and home insurance.
If there are any profits left over, then the seller receives it in the form of a certified check. From there, it’s up to the former homeowner to decide what to do next. Either invest in a well-cared-for property or look elsewhere.
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