As a hard money lender we provide proof of funds for these type of " rehab Investor loans" . However, often the seller needs to " sell my house fast" or obtain quick cash for a variety of reasons. In this situation we think it might be best for the seller to find a "direct home buyer" in their local city that can show sufficient cash reserves, Personally I would hate to be a potential house seller relying on a third party for " quick funds" Our 2 cents...... more
Hello Stumped, Yes there are plenty of cash buyers in OHIO! Here is the typical demographic though. Largely they are investors looking for a great deal they can make money on. Second group is a mature buyer who can either redo a home, or buys one to live in that is completely redone already.
In your case, it seems like you need either specialized marketing, or you will be facing a short sale. it sounds like you will not be able to pay the bank back if the home were to sell at current home value . Make sure the agent you use is short sale certified if the sale goes that way! (we are) You need a pro to motivate the lender. In the meantime, do everything possible to make the home look good. Clean! I can't tell you how important that is! Even if you cant afford to fix things, keeping the home clean sends a message to the buyer that you are a person of integrity and pride.
You can sell your way out of this! Best wishes, call if you need help. Willoughby is a great area!... more