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Winter is over and spring has sprung. With the new season, homeowners look to the internet for ideas on reinvigorating their property space. In this article, we will share 5 low-cost home improvement ideas to try out during the springtime. These great tips can make your living space feel brand new, refreshed, and ready for the new year.

Potted plant sitting near a window in the kitchen.

5 spring home improvement ideas

Before we begin, we suggest you set a budget and make a quick timeline. Any home improvement project requires care and organization for the best results, so it’s best to alot a set amount of time and money before you begin. Luckily, all of our tips are relatively low-cost and quick to accomplish. So let’s get into it!

1. Spring cleaning

What better time to declutter your home than in the spring? While there are tons of resources available to you about spring cleaning, the easiest method is to go room by room. First, we suggest sorting out items you no longer need, which you can then donate or toss. Once you’ve decluttered a room, be sure to clean it thoroughly before moving on to the next. Of course, this includes vacuuming floors, dusting surfaces, wiping down windows, etc. For a complete guide, Reader’s Digest has a great Spring Cleaning Schedule you might want to check out.

What benefits do you gain from spring cleaning? Firstly, you now have a fresh, clean, clutter-free home. From here, you can explore other home improvement options such as decorating and painting without worrying about a mess to work around. Undoubtedly, cleaning out one’s house is an amazing start to the year and great for your health!

2. Spruce up your lawn

There’s no better season to tidy up your lawn than springtime. Unfortunately, many homeowners tend to neglect their lawns, even after winter’s relentless storms. Reclaim your outdoor space from harsh weather. Give the grass a trim, clean up the pool, and maybe even start a garden. This is also a great opportunity to look into new, low-cost lawn fixtures. Check out this article for affordable tips on how to decorate your outdoor space.

3. Switch up your interior

You might’ve loved the look of your family room when you first completed it, but how does it make you feel now? Eventually, every homeowner feels the need to upgrade their living space. You don’t need to break the bank to give your home a whole new vibe. Replacing fixtures such as lamps, rugs, frames, and wall decorations can give any space a completely refreshed look. In addition, we encourage you to play with new patterns, colors, and textures. In fact, just switching out the coasters on a coffee table and the cushions on a sofa can make your living room feel much newer.

4. Paint, paint, paint

We find that a big contributor to the dated look of a house is worn paint. If your walls or doors have become victim to stains or cracks, consider taking a day or two to splash on a fresh coat of paint. This home improvement project is a great way to revitalize the home and experiment with new colors. No environment is more inviting than a freshly painted home in the springtime!

5. Take a look outside

Don’t forget to inspect the exterior of your home as well. Winters in Michigan can be quite harsh on your property. In response, show the house a little care by cleaning the gutters and making small repairs. In particular, you should focus on soft spots in the wood. This can indicate decay or rot. Since you need your property to remain sturdy for the seasons to come, it’s best to patch up your home during the springtime. StructureTech has a great exterior home improvement checklist to guide your inspections.

Reach out if you have any questions!

We hope you found some inspiration from our spring home improvement tips. Springtime is the perfect season to refresh one’s living area, so we encourage you to dive right in. In no time, you’ll have a home that feels just brand new!

In addition to providing household tips and tricks, we purchase homes around Macomb County for a fair cash price – no repairs needed! You can rest assured our services are quick, secure, and professional. In addition, you don’t have to pay any closing costs! For more information, please feel free to explore our website or reach out to us at 586-200-1710.

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Renting out one’s property is a lucrative investment for any homeowner. Whether you enjoy the passive income or could use the extra money for mortgage payments, having tenants can be a great help. However, any landlord who rents out their home should be equipped to deal with poor tenants. You probably heard of nightmare tenant stories, from squatters to partiers and everything in between. In this article, we hope to educate you on the most common types of poor tenants and how to deal with them.

Backyard party at night,

Types of poor tenants

Before we begin, we should note that bad tenants don’t have to exhibit extreme behaviors to be considered difficult to deal with. Indeed, your lessee may be pleasant to converse with and great communicators. However, if they’re missing payments or breaking rules, you don’t need to cut them slack. For now, here’s our list of commonly seen poor tenants you may find yourself facing.

Squatters

Every landlord’s worst nightmare is a squatter. A squatter is someone who occupies your property and refuses to leave. While these cases have been blowing up with the rise of Airbnb, squatting is still a possibility for traditional rental relationships. It’s pretty easy to identify when you have a squatter on your hands. If they refuse to leave the property, refuse to let you enter the property, or even threaten to bring you to court, they’re a squatter.

Late payers

Another type of poor tenant is a late payer. These types of lessees are difficult to deal with because they often make excuses or promise to pay soon. They might pay on time for the first few months, but for whatever reason, end up accumulating late payments. Consequently, you may find yourself having trouble paying mortgage and other bills if you rely on their rent. One quick tip is to include specific payment terms in your contract. For example, you may discuss a potential late fee, strike system, or even eviction section.

Party animals

Of course, we all know the characteristics of a party animal. These types of poor tenants will invite people over, play loud music, and risk damaging the property. Your neighbors will likely complain about the noise level, late-night activity, cars taking up street space, and general conduct of these tenants. Indeed, by renting your property to a party animal, you risk good rapport with your neighbors among other consequences.

Open-shelter tenants

This class of poor tenant is more difficult to identify. If you visit the home and notice common areas were made into makeshift bedrooms, and that there’s more people than you signed onto your lease, you’re dealing with an open-shelter tenant. These lessees typically offer a place to stay for friends and family either for free or a percentage of their monthly rent. This essentially means you’re losing money because more people are covering a smaller rental rate.

Animal lovers

These types of poor tenants mainly affect landlords with a strict no-pet rule. However, the consequences of pets can eventually damage any property. If a potential lessee asks whether pets are allowed, they likely have one. After they move out, you may have to make property repairs to fix bad odors or unclean carpets.

House destroyers

Finally, the last common type of poor tenant is a property destroyer. These people may either make unnecessary bad repairs to the home, or fail to maintain it. The bathroom and kitchen may develop mold, the screen door may be broken, the lawn may be in shambles, etc. On the other hand, you might notice an attempted construction project on a wall or doorframe that never got finished. These tenants destroy the house during their lease, leaving you to drain money into repairs.

Protect yourself against poor tenants

Before signing a lease with any potential tenant, you should take these mandatory precautions. During any rental contract, you should also take steps to keep your tenant’s behavior in check.

Always screen your tenants

Screening everyone is absolutely mandatory to ensure you won’t deal with poor tenants. This includes a background check, a credit check, and verifying income. Actually, the rule of thumb is that a tenant should make at least 3 times the amount of their rent every month. In addition, contacting their previous landlords gives you insight on their past behavior as tenants. This is good for raising red flags early. Don’t know how to properly screen potential tenants? Avail has a great guide to tenant screening that you’re encouraged to check out.

Set rules in your contract

Be prepared for any potential problems by setting rules. Don’t want late-night complaints from neighbors? Set a mandatory quiet hour or curfew. Want to lessen the damage made on your property? Outline your lessee’s responsibility to property maintenance. After this, you should set consequences such as a strike system or end-of-lease agreement. By setting rules beforehand, you are able to act on their poor behavior if it happens. Remember, it’s vital that you get everything in writing and have it signed by the tenant. This makes your contract legally binding. If you need somewhere to start, check out Nolo’s Ten Terms to Include in Your Lease Agreement.

Be strict

Once you outlined all your terms in the lease agreement, stick to them. Don’t let late payments, rule breaking, or other poor behavior slide. By sticking firmly to your rules, you send the message that you’re not playing around. If they break an agreement, carry out the agreed-upon consequence.

Evict when necessary

In addition to the previous note, don’t be afraid of eviction. If you and your tenant signed to uphold a contract, you are legally able to evict them if certain rules were broken. Remember, a lease is a 50/50 relationship. If your tenant isn’t acting accordingly, you are within your rights to end that relationship. If you need a refresher, Landlordology offers a step-by-step guide to evicting tenants.

Reach out to us!

Sometimes it’s too late to act on the damages a poor tenant leaves behind. If your tenant left behind a weird odor, property damages, and other high-cost repairs, consider selling your home to a house-buying company. House-buying companies will purchase your home off you, unmade repairs and all, for a fair cash price. Do you live in or around Macomb County, Michigan? Deal with us! We’d love to check out your home and do business. For a fair cash offer, visit our home page. For any other inquiries you may have, feel free to call us at 586-200-1710.

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Mailbox outside of a residence.

All homeowners eventually have to go through the daunting task of selling their home. In fact, for many people, this year will mark the first time they’ve ever sold property in their lives. In this article, we hope to educate you on the best path you can take in this tricky process. Here are three different methods for selling your residence in the United States.

Sell your home to a house-buying company

House-buying companies, also known as property investors or cash home buyers, are businesses that purchase your house for a fair cash price. This type of house-buying is an increasing trend in today’s economy with a proven, painless process. We won’t go into too much detail on house-buying companies in this article. However, if you want to learn more, check out our blogs on how to find a good house-buying company and reasons to sell to a cash house buyer. For now, we’ll break down the pros and cons for you.

Pros:

  • Enjoy a quick transaction (can take as little as under a week).
  • You both agree on the price offered.
  • There’s no need to make repairs (they will flip your home after purchase).
  • No heavy paperwork.
  • No commission or closing costs.
  • You won’t have to market your property or appeal to purchasers.

Cons:

If you’re interested in learning more about house-buying companies, we encourage you to do your research. These businesses are quick, easy purchasers with years of experience under their belt.

Sell property through a realtor

Selling your property through a realtor is the common, traditional route. Indeed, this method is tried and true, which is why so many people take the realtor path. However, if this is your first time selling property, be sure to educate yourself thoroughly. Many people don’t realize the amount of fees and time commitment needed when selling through an agency.

Pros:

  • Realtor is knowledgeable about the area, process, and other sale-related factors.
  • Your house will probably get more exposure to potential buyers.
  • A lot of the stress of selling your home yourself is taken care of by the realtor.
  • Realtors are experts in their field and can answer questions.

Cons:

  • Paying commissions.
  • Paying closing costs.
  • Draining money into making repairs and staging your home.
  • Being only one of many clients your agent may have.
  • Possibility of home sitting on the market for longer than you’d like.

Indeed, while real estate agents are professionals, they’re still at the mercy of the market like anyone else. This means that you’re not guaranteed a speedy sale or ideal profit.

Sell on your own (FSBO – For Sale By Owner)

These days, many people elect to sell their home themselves rather than through a real estate agent. As newer generations become familiar with DIY-culture, and search engines make a vast wealth of information available to us, people are more confident in their ability to do things themselves. However, for novice house sellers, putting property on the market can be overwhelming if they don’t know what they’re in for. Here are the benefits and drawbacks of selling a home by yourself.

Pros:

  • You have your own timeline and can proceed at a pace comfortable for you.
  • If you need help, the internet is always available.
  • You don’t have to pay commission costs, closing costs, or other fees to a third party agent.

Cons:

  • You have to draft your own paperwork, prepare your own showings, and research all selling factors.
  • Marketing your home can be incredibly difficult.
  • Your home may get less exposure if you have a small or nonexistent network.
  • You may still have to pay for repairs or stage your home.
  • The process is time-consuming and stressful.

If you are set on selling your home yourself, Forbes has a great article that breaks down a few tips which may be helpful to you.

Conclusion

All in all, selling your home is a different experience for all homeowners. The method you choose should be the one that best accommodates your needs. If you’re looking to cut out costs, consider avoiding real estate agents. If you don’t want to deal with stress, try not to sell by yourself. Of course, we encourage you to investigate further to make a decision that will ultimately benefit you in the end!

Ready to do business?

If you’re in or around Macomb County, Michigan and want to sell your home fast, connect with us! We’ll purchase your property – repairs and all – for a fair cash price. For more information, feel free to explore our website or reach out to us at 586-200-1710.

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Doing business with house-buying companies can mean selling your property to trustworthy home investors for reasonable profit. It can be the best way to sell your home quickly without making repairs or doing lengthy paperwork. However, like all industries, there are scammers who masquerade themselves as professional house-buying companies. The goal of these individuals is to purchase your property for dirt cheap. So how can you determine the difference between legitimate companies and scammers?

Outside the front door of a house.

Characteristics of house-buying scammers

Luckily, there are a few ways to identify house-buying scammers prior to making a sale. Before signing off your house to any company, take a look at our criteria and make an informed decision. Of course, the last thing you want is to sell your house for an unfair, rock-bottom price.

Vague professional presence

Firstly, how did you get in touch with these individuals? Do they have a website or online reviews? If they have cheap or free advertising – such as a vague handwritten roadside sign – try searching up their number. Additionally, if they don’t have a website or any online presence at all, that may be a huge red flag. It’s always best to verify that they’re a legitimate business before initiating a sale.

Poor communication skills

Secondly, how are their communications skills? Do they ask a lot of questions about the home, or do they seem uninterested in the details? Businesses that don’t try to learn about the property may not be interested in giving you a reasonable price. Instead, they may offer you a purchase price remotely. If they don’t even attempt to schedule appointments with you, don’t bother dealing with them. House-buying scammers try to purchase the property with little effort expended on their part.

To add on to this point, ask yourself if they’re pushing you to sell your home. Legitimate cash house buyers are speedy, but will never try to make the seller feel pressured into accepting a deal. The process should feel clean, professional, and stress-free. Did they hire an attorney to fast-track the transfer of title without consulting you? This is a huge red flag. Ideally, legitimate cash house buyers always consult with you throughout the whole process. House-buying scammers, on the other hand, will not give you time to think.

Iffy credentials

Thirdly, how are their credentials? We touch on this a little in the first point when we discussed reviews, but legitimacy goes deeper than testimonials. Can they produce the necessary financial documents needed? Or do they throw bank statements and vague account numbers at you? If they offer too much personal information on the “legitimacy” of their finances, they may be out to scam you.

Characteristics of legitimate house-buying companies

In this section, we will go over the general traits of a legitimate house-buying business. In the previous three points, we discussed professionalism, communication, and credentials. We’ll go over the same three criteria, and tell you how a good company presents itself.

Easy-to-find professional presence

To start off, legitimate cash house buyers often have a website or online profile to share their past reviews. They won’t hide themselves or their track record. A great indicator of a legitimate business is locality. Companies within the community know all about the area and aren’t likely to rip you off.

Great communication

Secondly, legitimate house-buying companies are incredibly transparent throughout the whole process. Before purchasing a home, they’ll always try to visit, whether by attending open houses or viewing the home multiple times. Of course, they’ll inquire about the property, including repairs needed, cosmetic changes made, the house’s history, etc. This is because cash house buyers truly love flipping homes and want to be well informed before committing to a sale.

As mentioned previously, a huge red flag of house-buying scammers is if they pressure you into a sale. Legitimate cash house buyers are only interested in doing business if you’re all in. They will never try to force you into any deal. Additionally, professional cash house buyers won’t contact you through a third party such as an attorney. One-on-one communication is important to legitimate businesses, particularly local ones.

Trustworthy credentials

Finally, be positive on the legitimacy of their credentials. If they can produce legal financial documents prior to making a purchase, they are legitimate. In fact, cash house buyers encourage you to ask them about the process and paperwork needed. Just like you, legitimate businesses are only interested in a streamlined, painless purchase. There should be a natural feeling of mutual trust and professionalism.

Selling your home in Macomb County? Deal with us!

On the topic of professional cash house buyers, consider doing business with us! We purchase property in the Oakland and Macomb Counties for a fair price. Please feel free to explore our website for more information. If you’d like a tentative cash offer for your home, you can do so on our home page. For inquiries or to do business, don’t hesitate to shoot us a call at (586) 200-1710.

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Selling your home is a hard enough process, but when your property is also in need of household repairs, the task can seem almost impossible. A million questions can run through your head. How much will it cost to repair my home? How long will it take? The biggest question to ask, however, is: how can I still make a profit?

Interior of a house.

Three main routes you can take

When trying to sell your unmaintained home, there are three main routes most people take. First, you can choose to make the repairs before selling your home. Second, you can try to sell on the market without fixing the property. And third, you can sell “as is” directly to a cash house buyer. We’ll go over these options in a moment, but first, take a look at two initial steps you should take.

Make a list of all household repairs needed

Before making any decisions, scour your home and make a list of all repairs needed. You can view a common list of household repairs here. By taking note of everything wrong with your home, you can then assess the overall damage. This helps you produce a general cost and repair timeline.

Decide whether you can still make a profit

Based on the list of repairs you made, do you think you can still gain profit if you fix them before selling your house? If you have a real estate agent, ask them for their honest professional opinion. Look at other property asking prices in your area and assess whether the costs of your repairs outweighs the average selling figures.

If you can still make a profit, hiring a contractor to make household repairs is a doable option. Otherwise, you should try your hand at selling “as is”.

Three men doing construction on a house.

First route: hire a contractor

When fixing up one’s property, many homeowners hire a contractor or handyman. These workers specialize in household repair. You can search for contractors or handymen in your area on the Homeadvisor website.

While making repairs seems like the obvious choice, there are a few inherent setbacks. Firstly, you have to dish out money. If your goal in selling your home is to make the highest profit, this can be a financial drain. Another setback is that the work put on your property can take anywhere from weeks to years. Hiring a contractor to make household repairs is the most costly and time-consuming option you can take.

Second route: sell “as is” with a realtor

The second common option homeowners take is selling through realtors without repairing one’s home. Beforehand, a few considerations need to be made. You should consult with your agent whether it’s viable to sell “as is”. They are usually knowledgeable about the neighborhood and can make honest opinions on whether your “as is” home can snag bids. In addition, you should visit other open houses in the area to get a grasp on average selling prices.

If you’re selling your property “as is”, your agent will likely request you lower its asking price. Frankly, when a home requires household repairs, it can be harder to sell. Buyers aren’t particularly keen on purchasing homes with problems, so you may have to wait a bit longer for bids. That said, lowering your asking price may shorten the time your property stays on the market. This, however, can leave you with a smaller margin of profit.

Third route: sell “as is” to a cash house buyer

The final option you can take is to sell your home directly to a cash house buyer. Cash house buyers are house-flipping companies that are eager to purchase your home, household repairs included. Just dial the number and they’ll survey your property, offer you a fair cash price, and boom – the process is done.

If you’re interested in working with a cash house buyer, consider connecting with us! We purchase homes in the Oakland and Macomb Counties. Feel free to explore our website for more info, and be sure to reach out for a fair cash offer of your home! You can also call us for any inquiries at 586-200-1710.

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There are countless reasons why you may be selling your Michigan home. Perhaps you’re relocating for work. Maybe your family is growing. In any case, many homeowners suddenly find themselves in the situation of trying to sell their home, and fast. Generally, when you sell your home, your first thought is to hire a real estate agent and get your house on the market. While the traditional route is tried and true, there are common problems with this method. In this article, we will compare the process of selling your home through an agency versus to an investor (ie. cash house buyer).

Aerial view of a neighborhood.

Why should you sell your home a cash house buyer?

Whether you call them cash house buyers, house-buying companies, or investors, these businesses want to buy your home quickly and painlessly. Here’s a few reasons you might want to deal with an investor over a real estate agent:

  • The process is shorter. Cash house buyers are just a phone call away. Once you contact them, they’ll set a date to view your home and offer you a fair cash price. Following this, it’s up to you to decide whether you accept the price and want to move forward. There’s no tricks or additional fees.

    Consequently, when hiring a real estate agent, you’re in for a lengthy process of appraisal, staging the home, and waiting for bites. Unlike the traditional route, which can take months or years, cash house buyers can close the sale within a week.

  • The profit is straightforward. When you go the traditional route, your real estate agent takes a slice of the sale. In addition to this, you have to pay closing costs out of pocket. This doesn’t even include the repairs and upgrades you may have to pay to ensure the home is marketable.

    In contrast, cash house buyers offer you a fair cash price before you make business with them. It’s completely up to you to accept or deny this price. No percentage of that goes to the investor, and you won’t have to pay hidden fees. It’s a simple, straightforward transaction.

  • It’s more convenient. The most frustrating part of selling your home through an agency is marketing the property and catering to potential buyers. At any moment, your agent can enter your home short-notice to showcase the house. This doesn’t even include the inconvenience of doling out cash on repairs and upgrades to make it seem more presentable.

    Why go through the hassle? Cash house buyers won’t put you through this trying process. Instead, you agree on a price, sign paperwork by the title’s owner, and can resume your life.

Contact us!

If you want to sell your home fast and hassle-free, consider doing business with us! We buy houses in the Oakland and Macomb Counties. That said, be sure to explore our website for more information and contact us for a fair cash offer.

Interested in learning more about cash house buyers? Our blog has you covered! If you have any inquiries, please don’t hesitate to call us at (586) 200-1710.

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Image of a calculator, notepad, and stack of money.

Selling your home sounds simple in theory, but many homeowners can attest that it’s a daunting process. From hiring a real estate agent to making repairs to finding a bidder, selling your property can be lengthy, time-consuming, and expensive. Want to skip the hassle? Consider doing business with a cash house buyer. In this article, we’ll go over the benefits of selling your property directly to a house-buying company.

Already familiar with the benefits? Take the next step! Check out our article on how to find a quality cash house buyer. You can also scroll to the bottom to find out how to do business with us!

What is a cash house buyer?

Cash house buyers, or house-buying companies, purchase your home “as is” for a fair cash price. This allows you to sell your home quickly and painlessly. You won’t have to deal with costly repairs or greedy agencies. Rather, you can grab your profit and be on your way in no time at all. All that said, how exactly can you benefit from selling to a cash house buyer?

You will save time

Selling your home to a cash house buyer can take just a matter of days. In fact, the entire process can be done within a week. Additionally, you save time by foregoing on lengthy repairs or updates. When selling a house on the market, homeowners often need to consider property reparations, real estate agents, house staging, and other time-consuming formalities. Alternatively, with a cash house buyer, you can exchange your keys for an agreed-upon price and be on your merry way in no time.

You’re guaranteed a safe transaction

When selling your home to an individual, you may encounter unexpected problems. For example, the buyer might have to finance the home or take out loans. In this situation, you’re not always guaranteed the money straight away. When dealing with a cash house buyer, however, you receive the payment upfront with no tricks or lags. The process is quick and straightforward, saving you time and earning you profit.

You will save money

One of the biggest unwelcome surprises you’ll likely encounter when selling a home is the costs involved. People often don’t realize that repairs are necessary for staging their house. In addition, real estate agencies take a percentage of the house’s sale as commission. This means you don’t receive the full selling cost.

When dealing with a cash house buyer, you receive 100% of the offer made to you, and repairs or updates are unneeded. This is because cash house buyers do what’s called “flip houses”, where they take old, lived-in homes and fix it up for sale later. By dealing directly with cash house buyers, you are skipping the lengthy process of listing your home and waiting for a buyer.

Contact us!

If everything you just read works for you, consider doing business with us! We buy houses in the Oakland and Macomb Counties for a fair cash price. Forego the closing costs, complicated paperwork, and time-consuming procedure. For more information, explore our website and blog. Head to our home page for a fair cash offer of your property. For any questions, feel free to reach out!

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Are you fighting foreclosure of your Michigan property? You’re not alone. Each year, thousands of homes in Michigan are filed for foreclosure. There are various reasons why one might find themselves in this dire situation, but one thing is certain: it isn’t the end of the world. In this article, we will discuss your best options when faced with the stress of foreclosure.

Red and brown brick house near the woods.

Best bets when foreclosure is on the table

Losing your home is an understandably frustrating event. That said, it’s vital to remain calm, composed, and informed throughout the process. Remember, no matter how tense the situation, there is always a way to get ahead. By remaining knowledgeable on the process of foreclosure, you can explore all options and make an informed decision. Here’s the common actions we suggest you look into when going through foreclosure:

1. Talk to a professional soon

There are counselors and experts that are widely available to you both locally and online. It’s crucial to understand that, before embarking on any foreclosure defense, you should consult someone with expertise. This doesn’t need to cost you anything. Foreclosure Avoidance Counselors are willing to offer you advice and services for free. In addition, update yourself on the various financial help programs at your disposal; many of these specialize specifically in foreclosure.

2. Restructure your financial plan

It’s never too late to reach out to your lender and begin a discussion on how to forestall foreclosure. If your financial situation is going through choppy waters, you need to inform your lender immediately. This way, they can negotiate a plan with you. By opening a channel of communication between you and your lender, you may be able to come up with a viable solution before things escalate. It’s not beyond your means to ask them to consider restructuring your payment plan.

3. Declare bankruptcy

Bankruptcy is a scary word, but it can actually be a helpful (and necessary) tool to get you back on your feet. Depending on your situation, you can claim a particular chapter of bankruptcy to defend yourself against foreclosure. The two main options would be Chapter 7 and Chapter 13 bankruptcy.

Find out here about Chapter 7 bankruptcy and if you qualify. By filing Chapter 7, you basically claim that your income is not enough to cover all payments. Your debts – not including mortgage – are then wiped clean. Be aware that while this may place an automatic stay on your property (i.e. putting a hold on your foreclosure) the lender can still go to court and ask that the foreclosure go forward despite the bankruptcy claim.

Chapter 13 is a little different. By filing Chapter 13, you claim that with more time, you can catch up to missed and current mortgage payments (as well as others). You are given a 3-5 year plan with your lender, during which you are required to make periodic payments that cover all bills.

4. Sell your property via short-sale or deed in lieu

There are a number of ways you can quickly sell your property before it goes to auction.

  • Short-sale refers to the quick selling of your home pre-foreclosure. Before the process, you’re required to ask your lender for approval, and even then, the value of the property will usually drop significantly. Regardless, this is still the better option than foreclosure because your credit score won’t be as negatively impacted. In addition, you are more likely able to purchase a home immediately following a short-sale than a foreclosure.
  • Deed in lieu of foreclosure refers to the voluntary transfer of a property’s title from you to the lender, thus releasing you from all mortgage obligation. Once again, you will need to receive approval from your lender to initiate this process.

5. Sell your property to a house-buying company

House-buying companies will purchase your property quickly in exchange for cash. There is no need to deal with the stress of realtors, repairs, or post-sale paperwork. A house-buying company will save you closing costs, time, and repairs all while offering you a fair price for your property. That way, you can forego the foreclosure and save time – as well as your credit score – by dealing with a house-buying company.

A homeowner speaking with a foreclosure specialist.

Reach out for more info!

All in all, there are a wealth of resources available to anyone facing foreclosure in Michigan. Foreclosure is undoubtedly a terrifying situation, but by exploring the right options and talking extensively with a counselor or expert, you’ll find yourself moving along fine.

For more information on house-buying companies, please feel free to explore our website. For specific information on our services, please do not hesitate to contact us at Buymi.

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Renting out one’s property is a great real estate venture when looking for a continuous source of passive income. However, at some point, a homeowner may decide it’s time to fully sell that property. This could be for any number of reasons; perhaps you are moving far enough away that it’s become a burden to maintain the property. Perhaps you are comfortable financially and don’t want to deal with the hassle of tenants. Whatever the reason, selling one’s rental house is common and easily achieved when done correctly.

But one question can’t be ignored: how do you do this when your property is currently being leased?

Many homeowners face the reality of needing to sell their property while it is occupied. This can be tricky territory to maneuver, but worry not! When conducted in a reasonable and professional manner, you should find the process can be quite stress-free. Here are our tips for selling your rental property during an active lease.

Two people signing a contract.

Options for selling your rental property during an active lease

There are a number of routes you can take when choosing to sell your home under an active lease. Here they are:

1. Wait until the lease expires

This is the most obvious option, but also potentially the longest and most inconvenient for you. While you are avoiding problems with tenants by waiting out their lease, this can be lengthy and time-consuming.

2. Search for an owner who will also rent out the property

Selling your property to a new homeowner who will also rent it out can be beneficial both to you and the current tenant. The tenant’s lease will then transfer over to the new landlord, who must abide by the old contract’s same rules and agreements. If you’re not under a tight time crunch, this is a great option for all parties involved.

3. “Cash-for-keys” agreement

This is a commonly practiced method whereby you will essentially pay your tenant to move out sooner. This can be done in a number of ways. Negotiate with your tenant; perhaps you can pay their security deposit, or provide moving services. Whatever the case may be, the objective is basically to incentivize them to leave. When done civilly, this can be a clean and easy way to end their lease early.

4. Sell to the tenant

If the tenant has lived there long enough, or the location is too convenient to let go of, they might just be interested in taking the property off your hands. When you first begin the process of trying to sell your home, be sure to keep the tenant adequately updated. They may end up becoming the buyer if you provide them with a timely notice.

5. End the lease if the tenant has violated the agreement

Unlike the cash-for-keys agreement, this particular method can be a bit messier. If your tenant has clearly violated the lease, you are fully within your rights to terminate the contract and move forward with selling your home. Remember that there are legal statutes which oversee these exact situations. Inform yourself on the procedures of evicting and what notices need to be made before you take this matter on.

Additional tips

As you just read, there are a number of methods you can adopt in order to sell your home during an active lease. In addition, here are a few crucial behaviors you should practice to ensure that the whole process is clean, clear, and mess-free.

A homeowner and leaser having a conversation.
  • Be communicative. To prevent any unnecessary arguments and misunderstandings, the landlord should be as open and communicative about the process as they can be to the tenant. You don’t need to update them on every single step and every prospective buyer. However, you should give fair notices and answer any questions. This will quell their own fears and confusion about the situation, leaving you both happy, informed, and prepared.
  • Be firm. Additionally, it’s important to remember why you are selling your rented property. Regardless of how the tenant feels, you are still on a schedule. While negotiations with your tenant can be done during an active lease, remember to keep the goal in mind: to sell the home.
  • Get everything in writing. Throughout the entire process, be sure to get all agreements officially signed by both parties in clear-cut, legal writing.
  • Remember tenants have rights. Our legal system has ensured that both landlords and tenants have certain property, privacy, and other rights. Before you embark on any ventures during the selling process – especially when it comes to entering the property – be sure to understand what your legal boundaries are by staying informed on tenant rights.
    • Rule of thumb: When showing the house to prospective buyers, give tenants a fair warning. You are legally obligated to notify them 24 hours before entering the home. Generally, it is better to set up specific, agreed-on dates and times with your tenant for house-showing.

Avoid the hassle of looking for a buyer

Want to know the quickest, cleanest way to transfer ownership of your property? Work with a house-buying company! These local businesses will buy homes off you for a reasonable price – no realtor needed. When working with a house-buying company, you can forego the stress of repairs, updates, and paperwork, all while knowing you are receiving a fair price for your home.

For more information, be sure to scour our website and contact us for any questions or proposals!

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Front window of a house in need of repairs.

Are you considering selling your house in its current state? The decision to sell one’s home “as is” – meaning without repairs, renovations, or updates – is a conflicting choice faced by many homeowners. On one hand, you may feel that your house in its current state will never be sold, whether its because of the dilapidated basement, or the small plumbing issue you never got around to fixing. On the other hand, renovations and repairs may be out of the question due to the financial toll and lengthy process. So what are you to do?

Luckily, you may not have to go through the frustrating procedure of fixing up your home just to sell it. There are plenty of house-buying companies in the Rochester Hills area that are readily available to assist you in your property pawning ventures.

What is a house-buying company?

These organizations are willing to purchase your house from you as is in exchange for a fair price. The amount is typically estimated by the company themselves and agreed upon by both parties. Like any property transaction, the price is based on various factors, including the home’s location, age, and repairs needed.

Once purchased, the home is officially off your hands. No dealing with messy owner-to-owner paperwork or post-transaction stress. By doing business with a quality house-buying company, you can quickly sell your property and gain that hard-earned profit.

How do I find a quality house-buying company?

Hands typing on laptop keyboard.

All this said, selecting the perfect company to work with is vital. There are a wide variety of businesses to choose from in the area, and you should explore all your best options. Here are a few indicators that you have chosen a great company to deal with:

  • They know their stuff. They are knowledgeable about the Rochester Hills area and can quickly, concisely answer any questions you may have. A quality professional with years of experience can survey your home and give you a solid, fair price based on the house’s factors, such as location, year, and repairs needed.
  • They have great reviews. A simple Google search should pull up a webpage or review site with client opinions on the business. If reviews are not available, any good company should be able to produce positive testimonials at your request. If they aren’t willing to show you these, that may be a red flag.
  • They are open to communication and transparent about their business. It is crucial to secure the contact information of the company’s representative; the sole person in charge of your transaction. Having open communication with them gives you a channel to ask questions and stay fully informed on the whole process.
  • They are local. This is more of a suggestion than a mandatory assessment, but one worth mentioning. As we all know, small, local businesses tend to be more embedded in the community and therefore typically more beneficial. Following this logic, you should shoot for local house-buying companies if you can. They are more knowledgeable of the Rochester Hills area. There is also a higher probability that you can engage in future dealings with this company rather than a national or broader-region business.

The takeaway?

Selling your home can be stressful, time-consuming, and just altogether frustrating granted you don’t have the proper resources. By locating a great house-buying company, you can bypass all those unnecessary steps.

For more information on selling your home, we encourage you to scour our website. For any questions, do not hesitate to contact us.

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