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  • How To Quickly Boost Your Retirement Fund If You Are A Homeowner In Cincinnati & Dayton

    A retirement fund is an important thing to have. When you are old enough to retire, you want to make sure you have enough money to live comfortably without having to work much at all. Hopefully, you will be able to save up enough during your working years to do this, but it’s never too late to start. Here are ways to quickly boost your retirement fund if you are a homeowner in Cincinnati & Dayton.

    401k and Roth IRA

    You may already have a 401k set up with your employer, but are you taking full advantage of the employer match program if it’s available? You definitely want to put as much as you can in your 401k to get the full benefit of free money! Some employers match 50% of contributions up to a certain amount, and some may match 100% or make deposits even if you don’t! This will also save you additional paycheck taxes since the 401k funds are taken out of your check before taxes.

    In addition to the 401k, you can have a Roth IRA account. Your money will be taxed now, but not later in retirement when it matters most. Make sure to max out your Roth IRA contributions to take advantage of this saving opportunity! Contributing the maximum allowed amount will quickly boost your retirement fund. If you are over 50, you are allowed to contribute a little more into your accounts, also referred to as “catch up” savings.

    Pay Off Debt

    Paying off outstanding debt is a great way to boost your retirement fund. Don’t make the mistake of only making the minimum payments on accounts. This will surely be eaten up by interest and fees and will slowly be applied to your principal balances. Making large lump payments to bring down your overall balance will save you thousands in the long run, and leave you more money to contribute to your retirement fund. Once you have your balances paid off, commit to paying off the entire balance every month. Not only will this save you money, but this will also surely improve your credit score!

    Take on a Second Job

    Another way to quickly boost your retirement fund is to take on a second job. Since your current job can cover all of the necessities now, your second job income can go straight to your retirement fund. You may lose some of your spare time, but just think of your retirement! You will have plenty of money and free time when you are older to take those vacations and travel. If you save up enough, you might even get to retire early!

    Sell Your House

    If you are a homeowner in Cincinnati & Dayton, the easiest and quickest way to boost your retirement fund with a big chunk of money is to sell your house! You may even be able to negotiate the buyer paying a majority of the fees to have more money to put aside. Take into consideration downsizing now to save for the future. You can also take advantage of the low-interest rates when you are looking for a loan for your new home. You can put thousands of dollars away to start earning interest now and find a different house to live in, and save extra money with the lower interest rates. You will also save in some unexpected places, like the electric and water bill and the actual time it takes to clean your house. You might be able to find a smaller, more energy-efficient home closer to your work and save you time and gas money every day! 

    Call Ohio Cash Buyers LLC at or send us a message to discuss how to quickly boost your retirement fund if you are a homeowner in Cincinnati & Dayton. 

  • How To Quickly Pay Off Your Student Loans If You Are A Homeowner In Cincinnati & Dayton

    There are a lot of people who have student loan balances hanging over their heads. Are you one of these people? Here are some ways to quickly pay off your student loans if you are a homeowner in Cincinnati & Dayton.

    Stick to the Plan

    If you can afford the original repayment plan, do it! Most student loan repayment periods are 10 years. If you try to lower your payment or refinance, this could add another 20-25 years of repayment! 10 years doesn’t sound very quick in general, but it is way faster than 30 years! You may also want to consider making biweekly payments. You will end up paying an extra month every year which will shave off extra interest and time of repayment.

    Take on a Second Job

    Another way to quickly pay off your student loans is to take on a second job. Since your current job can cover all of the necessities now, your second job income can go straight to your student loan balance. You may lose some of your spare time, but just think of your financial freedom! Apply at least half or ideally all of that money to your student loan balance to speed up repayment. Make sure you communicate with your lender that you want the money applied to the principal so they don’t apply it to the next payment instead. This will also lower the overall interest paid of your loan since you are taking big chunks out of the balance. If you do not want to commit to a second job with a schedule, you could pick up side gigs. There are online bulletin boards where people can post random odd jobs they need help with and you can put that extra cash straight towards your balance. This will be a lot of work, but the benefits would be nice.

    Sell Your Extra Stuff

    Take advantage of online yard sale type apps and list your extra stuff for sale. Go through your closets and get rid of unneeded clothing or collectible items that may be worth some extra money. Maybe consider selling your car to get a more affordable one with better gas mileage or refinancing your current auto loan to have a lower payment each month. You could also hold garage sales as often as your community allows and ask friends and family for their unwanted belongings to add to your sale. 

    Sell Your House

    If you are a homeowner in Cincinnati & Dayton, the easiest and quickest way to pay off your student loans with a big chunk of money is to sell your house! You may even be able to negotiate the buyer paying a majority of the fees to have more money to put towards your balance. Take into consideration downsizing now to pay off those student loans and have more money for the future. You can also take advantage of the low-interest rates when you are looking for a loan for your new home. You can put thousands of dollars towards your student loans, or hopefully, pay off the balance in full, and find a different house to live in and save extra money with the lower interest rates on mortgages. You will also save in some unexpected places, like the electric and water bill and the actual time it takes to clean your house. You might be able to find a smaller, more energy-efficient home closer to your work and save you time and gas money every day! 

    Call Ohio Cash Buyers LLC at or send us a message today to discuss how to quickly pay off your student loans if you are a homeowner in Cincinnati & Dayton. 

  • Sell Your Unwanted House In Cincinnati & Dayton To Take Advantage of The Low-Interest Rates

    Now is the time to sell your unwanted house in Cincinnati & Dayton to take advantage of the low-interest rates! 

    Price Appropriately

    The number one thing that will sell unwanted property is to offer it for sale at an appropriate asking price. Spend some time and research the recent comparable sales in the close area to the property. Make sure to analyze all aspects of the property: whether or not it has a pool or access to a body of water or canal, the year the property was built, the proximity to shopping plazas, grocery stores, or other points of interest in the neighborhood. Determine the appropriate asking price by using the most recent sales possible, preferably in the past 6 months. If there are no recent comps in the offer, consider using other properties in the area and subtracting or adding value based on features that your property does or does not have. If you offer the property for sale too far below market, then buyers might believe there is something wrong with the property.

    Sell to a Home Buyer

    If you are in an urgent need to sell your house in Cincinnati & Dayton, selling to a professional home buyer might be the option for you. They usually provide cash offers with an extremely quick closing time frame and may or may not require an inspection first. The home buyer will usually have a large network of investors with multiple portfolio types and can easily add your property to it. You can use this quick cash to have your down payment for your next property to take advantage of the low-interest rates.

    Offer Owner Financing

    There are many future buyers that are looking for a lending alternative who may not have the best financial history on paper, but are honestly trying to improve their situation. Offering owner financing might be a great option to open up your house to more buyers, just make sure to do a background and reference check. Owner financing would also be a great option if you are looking for long term monthly payments. This would be a great option if you already have the down payment for your new house.

    Find a Property

    It is important to do research on your next purchase before jumping into something to take advantage of the low-interest rates. Check out the schools, entertainment, access to shopping and groceries. Check that the taxes are paid, check the zoning, verify if the property is in a property owners association, this will cost you over time and eat into your rental profits. Make sure you conduct an inspection of the house you are interested in, most lenders will require this anyway. You want to make sure you pick a house with a good structure, a comfortable floor plan, and some curb appeal.

    Find a Mortgage

    The mortgage rates are at a low point right now, take advantage of this opportunity! Lower interest rates mean the lenders are more willing to originate loans. Shop around different mortgage companies to find the best rate you can get with your financial situation. Keep your credit score in mind, and contact multiple lenders to see what they can do for you. Choose the lender that has the lowest interest rate with the length of payment and type of loan that works for you and the property you plan on purchasing. Having a pre-approved letter in hand will give you the advantage when making an offer on your new house.

    Call Ohio Cash Buyers LLC today at or send us a message to discuss selling your unwanted house in Cincinnati & Dayton to take advantage of the low-interest rates!

  • 5 Things You Should Do To Sell Your House Fast In Cincinnati & Dayton

    You could be selling your house for any number of reasons, but once you decide you want to sell, of course, you want to sell your house fast in Cincinnati & Dayton. Here are some things you should do to sell your house fast in Cincinnati & Dayton.

    Appropriate Asking Price

    The number one thing that will sell your house fast is to offer it for sale at an appropriate asking price. Spend some time and research on the recent comparable sales in the close area to the property. Make sure to analyze all aspects of the property: whether or not it has a pool or access to a body of water or canal, the year the property was built, the proximity to shopping plazas, grocery stores, or other points of interest in the neighborhood. Determine the appropriate asking price by using the most recent sales possible, preferably in the past 6 months. If there are no recent comps in the offer, consider using other properties in the area and subtracting or adding value based on features that your property does or does not have. If your asking price is too high, you may not receive as many offers because that lends a buyer to believe you do not really want to sell your property. If you offer the property for sale too far below market, then buyers might believe there is something wrong with the property.

    Aesthetic Improvements

    Making affordable and necessary upgrades and improvements to the property will definitely help sell your house fast. If a buyer can walk into the house and imagine themselves and their family living in the house, this will definitely help sell the property faster. Offering a unique feature in the property such as a custom bar on the back porch might help a buyer fall in love with the property and make an offer quickly and be willing to pay a higher price.

    Host Open Houses

    Hosting an open house will help sell it fast. This will encourage the local real estate professionals to visit the house in hopes that it will meet the criteria of one of their clients. If a real estate professional is out searching for client houses, this means that their clients are pre-approved and ready for a quick sale. The real estate professional may even like the property for themselves! Other potential buyers will also attend; however, some of them may not be pre-qualified or even able to obtain a loan. 

    Network

    If you are an investor who flips properties, you most likely know other real estate professionals, or professionals of related fields, such as pool cleaners, property inspectors, or contractors. These connections have access to a large word of mouth database made of the customers they do business with and can mention your property to them, especially if they mention that they are in the market for a new home. Even if you are not a real estate investor, make sure to tell all of your friends and family your house is on the market. This is a great way to spread the word.

    Prepare a Proforma

    For multi-family property or even single-family residences, preparing a proforma for the property will be another tool to sell your house fast. This will be especially attractive if your property is multi-family because this is the most important part of an investment: the return on investment! Doing your research on the rental market in the area will definitely be worth it because it is the backup of your estimated rental amount. Investors will be able to compare this with the initial investment they are making and determine if it meets their investment goals.

    Call Ohio Cash Buyers LLC today at or send us a message to discuss these and other things you should do to sell your house fast in Cincinnati & Dayton.

  • Can You Still Sell Your House During The Coronavirus Pandemic in Cincinnati & Dayton?

    Can You Still Sell Your House During The Coronavirus Pandemic?

    We are dealing with unprecedented times! Just last month we were going on with our lives as normal, then COVID-19 came in and threw the world on its head. As we all adapt to these changing ways of life, people are wondering if everything has just stopped? The answer is no. Whether we are working from home, learning virtually, or keeping up with friends through video calls, things are still moving right song. We are a strong city, located in a strong country. Adapting is what we do. Ohio Cash Buyers LLC is dedicated to helping you with all of your real estate needs no matter what is going on in the world. Below are some of the questions we have been receiving since all of this began. If you have any other questions, we are happy to answer them. Please reach out to Ohio Cash Buyers LLC today at .

    Can you still sell your house during the coronavirus pandemic?

    Absolutely! There are still tons of houses being sold, both on the traditional market and with direct home buyers. Buyers usually go online to search for homes, and right now they have more time to do it! Websites like Facebook and Zillow have reported increases in traffic as people are spending more time at home.

    What if I need to sell right away?

    Were you stuck in a difficult situation before all of this started? We’ve spoken to people in foreclosure, people who needed to sell before buying another home, people who have tenants in their home, and couples going through a divorce and needing to sell. We completely understand your needs and concerns and will do everything we can to get your house sold fast while still receiving a great price!

    How can Ohio Cash Buyers LLC help me sell my house in Cincinnati & Dayton with everything going on?

    First, let’s hop on a call to discuss your selling goals and your situation. We can talk on the phone, have a Zoom call, meet up on a Google Hangout, or Facetime, whatever is the easiest for you. We can even do a property walk through with you via video conference! All of this can be done from the comfort of your home without having to come in contact with anyone or go anywhere. No matter what is going on out there, we are still able to serve you, determine the value of your house, and help you sell it quickly.

    Should I wait for the Coronavirus to be over before trying to sell my house?

    No! Right now is a great time to sell because there is less competition! Many people are holding off, however, there are still people out there who are ready to buy your house right now! Buyers are hungry for properties, and yours might be the one that will catch their eye. By getting the selling process started right now, it ensures you’ll be able to sell faster than those who wait.

    Can I stay in the house until this is all over?

    Yes! You may be hesitant to sell right now because you don’t want to find somewhere else to live during all of this. If you need to stay in the home until this has subsided, we are more than happy to work with you. We are very flexible in our process and will do whatever it takes to make it easy for you to sell your house during the Coronavirus pandemic.

    Tips From the CDC

    While we want to serve our community the best we can through all of this, we also want people to remain safe and vigilant. The CDC is continuously updating its information to help keep people protected from this awful virus. Remember to wash your hands frequently, avoid touching your face, and disinfect the common surfaces throughout the home. Most importantly, check in with your neighbors to make sure they are doing ok and have the supplies they need. We are all in this together!

    If you have had to deal with the consequences of the coronavirus pandemic, either from being infected or not being able to work, we understand you may need to sell your house now more than ever before. A difficult situation you have been dealing with before all of this started may now be more pronounced, pushing you even more into a sale. Our team understands what you are going through. We are here for you and are prepared to help you with any challenging situation you may be facing. Please reach out to us at any time.

  • Coronavirus Precautions When Buying or Selling a House in Cincinnati & Dayton

    Coronavirus Precautions When Buying or Selling a House in Cincinnati & DaytonAre you buying or selling a house in Cincinnati & Dayton? The Coronavirus has impacted all of our lives in various ways, but if you were planning to buy or sell, you may feel like there was a wrench thrown in your plans. The good news is that our team is here to help! While following the guidance of local, state, and national officials, we are still able to help you buy or sell.

    Precautions We Have Put In Place

    When a team member or maintenance worker enters a home, they are equipped with gloves, a mask, and shoe coverings. We have closed our physical offices, we practice social distancing, and have eliminated any meeting that can be done over the phone or via a video call. We are taking this very seriously and are doing everything we can to keep our team safe.

    How We Are Able To Serve You

    While our physical offices are currently closed, we still offer a number of ways to help you! First, we are always available via a good old fashioned phone call! We’re happy to learn about your needs, buying or selling goals, and your situation! If you prefer, we are also available to video conference at any time. We can do home walkthroughs via Zoom, Google, or Facetime! Plus, many documents can be signed remotely via Docusign!

    What You Can Do To Help

    If you are buying or selling a house in Cincinnati & Dayton, there are coronavirus protections you should put in place for you and your family. We recommend holding off on seeing homes in person or having people in your house to come and see it. These things can be done online for the time being until the curve has been flattened and life begins to return to normal.

    Try to avoid having outsiders come in for repairs or maintenance. However, if there is an emergency and something needs to be repaired, make sure they have protective covering and that you keep your distance. Be sure to sterilize your house on a regular basis, especially if a repairman or other professional comes into your home to provide a service. Washing your hands, disinfecting your house, and practicing social distancing are the best ways to keep you and your family safe. If you feel any sign of illness, stay home and call your doctor immediately!

    It is Still a Great Time To Buy or Sell!

    While we might all be going a little stir-crazy at home, there is no reason why things should not move forward if you are buying or selling a house in Cincinnati & Dayton. Even if you aren’t able to see a house in person or if we aren’t able to get to your property to see it for ourselves, we are more than happy to see it virtually via a video call. By getting the ball rolling now, you will be ahead of the competition when all of this is over. Don’t wait! The competition for real estate once the virus has passed will be fierce! There are still tons of houses being bought and sold out there, don’t miss out on the opportunities that are out there in front of you just because you are stuck on the couch!

    If you want to buy or sell a house in Cincinnati & Dayton, don’t wait! With less competition out there, you may have an opportunity to buy or sell with even better results! Reach out to us to learn more about how we can help you with a house in Cincinnati & Dayton and what coronavirus precautions we are taking to help buyers and sellers in the area! Contact us today for more info!

  • 5 Headaches Homeowners Face When Selling Their Houses in Cincinnati & Dayton

    Want to skip the headaches you will face as a homeowner when selling your house? Should you find yourself debating whether or not to face the nightmares of selling your own property, we want you to know there is a quick and painless option. You can avoid learning all of this the hard way by selling your house in Cincinnati & Dayton to us here at Ohio Cash Buyers LLC.

    Curb Appeal

    Are you going to have to spruce the place up a bit?  Additional time is costly! One of the nightmares homeowners face is spending a great deal of time and money on rehabbing the home to increase curb appeal only to find your additional investment isn’t going to be bringing the return you expected.

    Unanticipated Repairs

    Worse yet, will you be facing daunting bills and additional time on the market while you deal with the schedule of the professionals making repairs? When selling your house, you’ll either need to negotiate who will pay to repair any glaring issues or those unknown problems that come to light. This could also mean a longer time holding the home, which can be costly. Buyers tend to estimate what repairs and the like will cost on the higher end, leaving you with even less profit when you walk away from the negotiating table. Not to mention all of the inconveniences involved with renovation projects. 

    Clearing the Clutter

    You’ll also be looking at living in a depersonalized zone for the entire length of time it takes for the home to sell. This may well include the expenses of storing your personal property and staging the home to compete in today’s market. You’ll also need to make arrangements for any pets when buyers walk through, constantly maintaining show-ready status. This can become exhausting after several months on the market. It’s a constant headache to keep a home showing ready at all times and you may also have the expense of staging the home. Some families find the burden of showings too great and end up living in a temporary home while waiting for their property to sell. As you well know, there is no guarantee any property will sell. 

    Dealing with Buyers

    Keep in mind when selling your home in Cincinnati & Dayton you must be extremely careful with what is said to any potential buyers. You should also prepare yourself for people who are seeking bargains, making insultingly low offers remember to try not to take it personally. Often sellers are disappointed to find the buyers they have been tied up with in negotiations aren’t even qualified to purchase the property. Then there are those who are out enjoying their day, just looking at other properties for ideas and wasting your precious time. Listing your own home can truly be a nightmare, not to mention stressful and aggravating. 

    Legal Risks

    Disclosure, disclosure, disclosure. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. We already know the state of the property and take on that risk.

    Repairs, upgrades, the hassle of showings and constantly dealing with the antics that arise when dealing with buyers in general and assuming all of the financial and legal risks real estate transactions can bring all can take their toll. Why not just avoid facing all of the aggravation and headaches from the start and sell your house here in Cincinnati & Dayton to us instead?

    Ohio Cash Buyers LLC is here for you! We make it all quick and easy for homeowners selling their houses in Cincinnati & Dayton! Just call today or send us a message at any time!

     

  • 3 Things To Do if An MLS Listing Hasn’t Worked For Your Cincinnati & Dayton Property

    So you’ve listed your home and it’s been sitting on the MLS, it’s a well-known fact that the longer a home sits on the market, the harder it becomes to sell. We’ll cover 3 things you can do if an MLS listing hasn’t worked for your Cincinnati & Dayton property.

    Wait It Out

    Whether you go it on your own or list your home here in Cincinnati & Dayton with a real estate professional, there are no guarantees the house is going to sell. Few people have the luxury of the time nor the financial means to afford holding onto a listing for an indefinite period.

    Consider Rent to Own

    Should you decide to sell your property in Cincinnati & Dayton as a rent to own, remember at the end of the agreement, if the renters do not want to buy the property anymore, they aren’t obligated. Buyers usually pay an upfront non-refundable consideration or option fee for the “option” to purchase the property in the future. Your rent to own agreement should specify the final purchase date and how the price will be determined.

    You’ll remain responsible for property taxes, HOA fees, and insurance and possibly maintaining the property. Typically, the current owner handles major repairs. Renters are normally responsible for lawn maintenance, pool cleaning, etc. Be clear on who would be responsible for items such as large appliances, structural repairs, and routine maintenance in the lease. 

    Sell Your House Directly

     Direct buyers in Cincinnati & Dayton, Ohio typically close faster, usually paying full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying! There are also normally no commissions paid to a buyer’s or seller’s agent which means big savings. Direct buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing costs you would have to pay otherwise. They can also work with out of state owners.

    One of the biggest complaints buyers have about working with direct buyers in Cincinnati & Dayton is that the offers are usually below market, but this is for a good reason! The buyer is taking on a huge risk by purchasing your house as-is, for your home may be more damaged than you realize!

    Direct buyers in Ohio will usually purchase homes as-is. As a seller, there’s no need to worry about repairs before closing or any other additional unexpected expenses. There are some companies that do not require inspections which makes it a truly as-is transaction.

    Selling to a professional home buyer is straight forward. Laying out every step of the process and usually shortened, clear contracts that are simple as-is purchase agreements. You’ll have lessened exposure to legal risks. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they take on that risk.

    Skip the nightmares showings can bring. Forget about leaving your home spotless, running into buyer’s agents or their clients. No more buyers arguing over furniture either! Direct buyers are investing, and won’t be moving in. Most home buyers will allow a move-out timeframe after closing. This is extremely helpful with such quick closing timeframes. 

    If an MLS listing hasn’t worked for your home in Cincinnati & Dayton, as direct buyers, Ohio Cash Buyers LLC offers quick transactions that will put cash in your pocket fast. We make the process easy and much less stressful overall.

    We welcome you to contact us today at to save yourself frustration, time, and most importantly, money over an MLS listing in Cincinnati & Dayton!

  • Hiring An Agent To Sell Your House In Cincinnati & Dayton? Here is a Run Down of Your Expected Costs

    Traditional home sales in Cincinnati & Dayton can be extremely expensive, including far more than the commission or financial burden of surprise repairs. On the other hand, a direct sale to Ohio Cash Buyers LLC will eliminate all costs. Read on for a rundown on the surprising costs associated with working with traditional agents.

    Commissions and Fees 

    Real estate agents are paid based on a percentage of the sale price. Usually, commissions are 3% per side, along with traditional seller’s closing fees and other possible transaction fees to the closing agent and their office. 

    Advertising Costs

    The costs can add up very quickly, your listing agent will usually add on fees for advertising the property. This may very well include the costs for professional 360-degree images and drone footage for a virtual walkthrough. There are also costs associated with traditional advertising your property on online media platforms. Real estate agents who are active will likely place ads in local weekly or monthly publications.

    Inspections

    When using a real estate agent, the buyer’s agent almost always orders an inspection of the property. Along with this additional cost, traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying. 

    Repairs and Maintenance

    Along with large investments like your home come repair costs. Not to mention the regular maintenance required for general upkeep. Additionally, expect investments in the exterior, such as landscaping and special touches for superior curb appeal when your home is listed with a traditional real estate agent. 

    Staging and Utilities

    Often real estate agents will suggest you bear the costs of staging your home for showings. They’ll also want you to leave the lights on and you certainly don’t want your potential buyers shivering in the cold or sweating as they walkthrough. This means you’ll also be burdened with keeping your utilities on during the duration of the listing. As you may well be aware, there is no guarantee the home will sell quickly, if at all.

    Legal Risks

    Buyers may find something they don’t like about the home or neighborhood. Under most traditional real estate contracts, a buyer could sue you if they feel there wasn’t full disclosure or facts were misconstrued, even if the issues were unknown to you. You could be facing legal costs as well.

    Closing Costs

    Closing costs are generally fixed in nature and average about 2% of your selling price. These costs can include transfer fees, mortgage processing fees, escrow fees, or notary fees. Tax prorations between the buyer and seller at closing, which could add thousands to the expenses you’ll pay at closing. This expense varies depending on the time of the year you sell your home, the local tax assessments, water or sewer bills, any HOA fees or escrow item. Naturally, you’ll also owe any remaining mortgage debt.

    Direct buyers in Cincinnati & Dayton already know the state of the property and will usually purchase homes as-is. As a seller, this eliminates repairs before closing or any other additional expenses you weren’t planning on. There are some companies that don’t require inspections which makes it a truly as-is transaction. They typically close faster than traditional home buyers saving you the monthly expenses of listing. Direct buyers may not charge transaction fees; if they do, they’re low in comparison to the commission or closing costs you’d have to pay otherwise. They also provide mail-away closings which can make the entire process a breeze.

    Ready to sell your house in Cincinnati & Dayton? Save yourself all of the hassle and high costs involved with hiring an agent, call or send us a message and make a direct sale to Ohio Cash Buyers LLC today!

  • 5 Ways Foreclosure Will Impact You in Cincinnati & Dayton

    Facing foreclosure? Foreclosures will affect you for many years to come and can leave your life in ruins, although you may still have time to handle this situation. When you learn the time frame and the different steps of foreclosure and compare that with what letters or other communication from your lender, this will determine how quickly you need to move to secure your exit strategy. If you ignore the pending legal action letters, that is no excuse in court. Don’t stick your head in the sand and allow the process to destroy all you have built by moving past the point of no return.

    If your lender has just begun to issue notices of non-payment, then they have not issued the foreclosure yet. Why wait? Avoid all of the negative impacts of foreclosure by selling to us now. Read on to learn 5 ways foreclosure will impact you in Cincinnati & Dayton.

    Negative Credit Reports

    If foreclosure is looming over you like a black cloud on a sunny day, don’t ignore the rain. A negative credit report due to a foreclosure can impact your ability to acquire new housing and quite possibly impact getting a job in the future as well. A lower credit score will also often result in being denied consumer credit. Often, if you are approved, the interest will be astronomical, only adding to the financial issues you are already facing.

    Lost Equity

    Equity is the difference between the current market value of your Cincinnati & Dayton home and what is owed to the lender holding the mortgage on your property. As one of the largest investments most of us will make, equity can build up literally into the hundreds of thousands over years, depending on the current trends in real estate. Now, you naturally look forward to reaping the rewards of the equity in your home. This return on your investment will be impacted severely and is usually completely lost to you should you go into foreclosure. 

    Stress

    The uncertainty of not knowing when you will have to leave your home can lead to sleepless nights and have negative emotional impacts. This can extend out into your work, friends, and even close personal relationships, causing additional strain. Not to mention the embarrassment of being denied housing opportunities due to the foreclosure. Being evicted can be a traumatic experience and not a memory anyone recalls fondly.

    Deficiency Debt

    Often homes that go into foreclosure do not realize the full market value in Cincinnati & Dayton and this leaves what is known as a deficiency debt. You could still end up being responsible for the remainder of the debt, which is an additional burden on your already stretched resources, along with yet another negative impact on your financial history.

    Fannie Mae Access

    Once you’ve gone through a foreclosure, guidelines in place prohibit you from the ability to get a mortgage through the Fannie Mae program for 7 years. When it comes to the mortgage industry, Fannie Mae is one of the largest mortgage lenders. Loans that are acquired through them provide homeowners several worthwhile benefits. The inability to avail yourself of this program could impact you by limiting the opportunities available to you in the Cincinnati & Dayton housing market.

    Sell It Now! Quick action is called for when there is an impending foreclosure on your property. The simplest way to avoid all of the negative impacts foreclosure can bring to your life is to nip it in the bud and sell your Cincinnati & Dayton home to us.

    Call Ohio Cash Buyers LLC at or send us a message to discuss the process with us today and sleep soundly tonight. We will help you learn how a foreclosure will impact you and what you can do about it!