We buy houses in Orleans Parish, Louisiana. If you’ve found yourself saying, “I can’t sell my home in Orleans Parish LA,” this article is for you. Maybe you’ve been trying to sell your Orleans Parish LA house for a while now and haven’t received any offers yet. Don’t panic! We are homebuyers in LA, and you still have a few options at your disposal to sell your home for a fair price.
You’ve probably already tried the first one at least once: Lowering the asking price.
Everybody wants to sell their house for more than they paid for it, but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of a structural or locational problem, you may have to reduce your asking price.
What Are My Options If I Can’t Sell My Home in Orleans Parish LA?
Here are five other things you can try when you can’t sell your property in Orleans Parish LA:
1) Take It Off the Louisiana Market
You may be trying to sell your home at a bad time, such as when there are a lot of other houses just like yours on the market, during the winter months, or during the holidays.
If this is the case, you might be best served by taking your home off the market for a few months – if you can afford to keep paying the mortgage – and wait until market conditions improve.
2) Take Out a Second Mortgage in Orleans Parish
If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things, including real estate investments.
3) Rent Out Your LA Home
If you can’t sell your home and don’t want to hold two mortgages (your old home and your new home), one option may be to rent out your home at or near the price of your monthly mortgage payment. That allows you to apply the rent to your mortgage without having to incur any additional expenses other than upkeep, maintenance, and repairs.
4) Consider a Short Sale in Orleans Parish LA
“I can’t sell my property in Orleans Parish LA because I owe too much!” This can happen if you’ve purchased your home within the past few years and currently owe more than the home is worth (called being upside down).
In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like the other option is foreclosure, your lender probably will accept a short sale.
To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at (504) 565-2105 for a no-hassle offer on your house.
Keep in mind, however, that short sales can affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.
5) Offer a “Lease to Own” Option in Louisiana
A lease to own option is when you rent your house to somebody with the option to purchase your home when or before the lease expires. This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line.
You can also add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to purchase your home – you can keep it as income.
I Can’t Sell My House in Orleans Parish LA!
If you are interested in learning how to sell your house in LA fast, call us at (504) 565-2105 or fill out the form on this page to get more information sent to you right away. We’re honest and straightforward Orleans Parish LA home buyers, and we offer cash for houses in Louisiana. We’ll quote you a fair price, and we can close fast with cash.