Congrats, it looks like you've finally made the hard decision to sell your house or rental property here in Memphis Tennessee. You've burned the midnight oil searching google and other reputable sites on the ways to sell your home. After a long but careful process you've decided to sell your home to a local real estate investment company. Being able to sell your home fast for cash seemed to be the best fit for your situation. Before you pick up your phone to reach out to one of those companies there are 4 questions you need to answer first.
Is The Deed Of Your Home In Your Name?
In order to sell a home, your name has to be listed on the deed of the property. There may also be situations where co owner names are also listed on the deed such as spouses or siblings. In those cases an agreement will have to be made between all party's in order for the house to be eligible to be sold. If there are any questions on ownership of the home, your local title company can run a report that will show ownership and if their are any other judgments on the home. You want to make sure everything is cleared on your end so their won't be any unexpected hold ups at closing.
Are There Any Back Taxes Owed?
Are you aware if all of the property taxes have been paid up to date on the property? When selling to a real estate investment company they will usually foot the bill on all closing expenses except for back taxes that are owed. You as the seller will be responsible for paying any back taxes that is owed on the property. To find out if you owe any taxes, you can visit the Memphis city trustee website to find out if you owe any taxes.
If You Are A Landlord, Do You Have Tenants Who Will Be Effected?
If you are a landlord who is looking to sell your property you have more than yourself to think about. What do I mean by that? If you currently have renters in your property, what will happen to them when you sell the property? Are they currently under a signed rental agreement for a specific time? How big of a notice will you need to give them informing that you are selling? Ultimately, you will be deciding how you will sell your property but these are a few questions that will need to be answered.
How Soon Would You Like To Close?
Once the title has been ran and everything comes back clear the closing process can happen as quickly as 3 to 5 days. It will be up to you to inform the investment company how quickly you would like to sell your home. Once communicated, that info will then be passed to the closing title company who will be scheduling the closing.
Now that you've answered the above 4 questions, its now time to pick up your phone and get the ball rolling on selling your home. Until next time, everyone be safe and have a great week! I'm Out.............