Having to move unexpectedly is a situation that many Americans must face each year. While the reasons for making this type of move may be very different for each family, the heightened stress factor involved in each relocation process is likely to be shared by all. One of the main reasons for this additional stress often centers around the family's current home and what will happen to it when the owners must move on and buy or rent a home in the new area. If you are facing an unexpected move and have concerns about how to manage your current home once you and your family are living in another city or state, the following proactive solutions may be just what you need.
Consider a quick cash sale
Homeowners who find they must move and settle into a new home quickly are unlikely to have enough time to make the repairs and renovations typically needed before listing a home for sale in the traditional manner. They may, however, be able to sell their home quickly to a cash buyer, such as a real estate investor, who can close quickly and is willing to accept the property in its current condition. Since cash buyers rarely offer market price, homeowners will need to carefully consider any offer of this type they may receive to make sure it fits their financial needs.
Offer a lease with the option to purchase
If selling is not an option, due to either price or time constraints, offering the home for lease with the option to purchase can be a viable option. While not an actual home sale, this type of arrangement can help homeowners ensure their home is occupied by someone who may want to move ahead with a purchase in the near future. In addition to avoiding the problems associated with managing a vacant home, this type of arrangement will continue to generate rental income from the property that can be used to offset existing mortgage payments or rental housing costs in the new location.
Explore using the home for rental income
Placing the home with a residential property management service like EMS Realty is another low-stress way to manage your current home when you must move away from it quickly. These professionals will be able to carefully screen applicants to find a high-quality tenant, collect and disburse rental income in a timely manner, and ensure that repairs and maintenance issues are handled quickly and efficiently.
Hi, my name is Jessica Williams. Thanks for stopping by my website. I have moved a number of times and in three cases I have had to sell a house. The first time I sold a house I listed it with a real estate agent. The second time I did it myself. The third time I listed with a realtor. You can probably ascertain from this information that I found listing with an agent the better route. I managed to sell my house by owner that one time, but never again. There is too much involved and too great a risk for errors. There’s a bunch of paperwork and preparation that goes into selling a house, more then I imagined. My goal here is to share my experiences with you. My hope is to make your experience as pleasant as possible.