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  • Selling With a Cincinnati & Dayton Real Estate Agent vs. Selling To A Local Investor

    Selling With a Cincinnati & Dayton Real Estate Agent vs. Selling To A Local Investor

    Do you need to sell your house fast in Cincinnati & Dayton? It important that you understand the options available to you. There is more than just one way to sell your Cincinnati & Dayton home. In this post, we will dive into two of the most popular ways, so you can decide which selling option will be right for you.

    Hiring A Cincinnati & Dayton Real Estate Agent

    The Money

    You likely know you will have to pay your agent a commission of about 5-6% if they are able to successfully sell your house in Cincinnati & Dayton. However, there are also a number of other costs that will come into play when listing your house for sale.

    • Marketing – Many home sellers want or need to utilize marketing that goes beyond the scope of their agent. This can be professional photography, virtual tours, or premium listings.
    • Repairs – Even if your house is in great shape, there will likely be something that will need fixing. Whether it is a new coat of paint, replacing a leaky faucet, or patching a hole in the wall, these repairs will add up fast.
    • Staging – When you list your home you will want it to look its very best. This means you should take some time to hide away the clutter and decorate it in a warm and inviting fashion. Whether or not you hire a professional stager in Cincinnati & Dayton, making the house pretty can cost a pretty penny.
    • Holding Costs – The holding costs include things like your property taxes, homeowners insurance, utility bills, and maintenance. These costs don’t stop when you list your house. In fact, keeping your house in tip-top shape can actually drive your holding costs up even higher.
    • Closing Costs – As a home seller, you will usually pay somewhere around 2% of the final sale price toward your closing costs.
    • Cleaning – Before you list and while to is on the market, the house will need to be kept clean. Many people opt to have it cleaned professionally before it is listed, maintaining the home while it is listed. You should also consider professional carpet cleaning, power washing, and yard clean-up and hauling expenses.

    That said, working with an agent has the potential to get the highest price possible. Just be sure you have deducted all of the costs mentioned above to be sure listing with an agent in Cincinnati & Dayton makes sense for you.

    The Time

    When you hire an agent to help you sell your house in Cincinnati & Dayton, they will shoulder a good portion of the effort that goes into selling. That said, the process will require some of your time and effort as well. For example, you will likely have to spend time…

    • Keeping the property clean and ready for those last-minute showings
    • Making repairs and upgrades to the property before it hits the MLS
    • Marketing the property on sites other than the MLS
    • Vacating the property when someone requests to come see it
    • Waiting for an offer, hoping you will get your asking price
    • Reviewing offers from potential buyers
    • Negotiating with potential buyers
    • Waiting for the escrow process to be completed
    • Dealing with inspectors and appraisers

    The worst part is that you could go through all of the above, only to have the sale fall through at the last minute. If you’ve spent any time shopping for homes in the past, you’ll often see properties go pending, only to be relisted when the funding falls through.

    The Unknown

    One of the most difficult parts of selling your house with an agent in Cincinnati & Dayton is the unknown. You won’t know if you will get your asking price, when, or if your improvements will provide returns. Not only is this stressful, but it also makes it difficult for you to plan ahead.

    Selling To An Investor

    The Money

    It’s no secret that when you sell your house to an investor in Cincinnati & Dayton, the sale price will not usually be as high as retail. That said, the amount you can save will more than make up for it. Most direct buyers, including Ohio Cash Buyers LLC buy houses as-is, which means there are no repair costs to worry about. You will also not have to pay commissions, closing costs, or extended closing costs.

    The Time

    In most cases, we are able to close in just a few days, potentially saving you a fortune in holding costs. You won’t have to do a thing other than pack up the items you wish to keep. We will handle everything else, including any items you wish to leave behind. Working with Ohio Cash Buyers LLC will help you sell your house in less time, offering you convenience and a fair price.

    When you consider the time and the money involved with working with a Cincinnati & Dayton real estate agent vs. selling to a local investor, your idea of how to most efficiently sell your house may change.

    Learn more about selling your house with a Cincinnati & Dayton real estate agent vs. selling your house to a trusted, local, investor! Give us a call or send us a message today!

  • 6 Things You Can Do To Stop Foreclosure of Your Cincinnati & Dayton House

    6 Things You Can Do To Stop Foreclosure of Your Cincinnati & Dayton House

    For homeowners who want to stop foreclosure in Cincinnati & Dayton, the future can look pretty grim. In our latest post, we offer 6 ways homeowners can stop foreclosure of their homes in the Cincinnati & Dayton area.

    Has it become difficult to pay your mortgage each month? Are the bills piling up, with no end in sight? At some point, before the bank comes in and takes your home, you need to find a way out. Keep reading to learn more about what you can do and how Ohio Cash Buyers LLC can help you stop the foreclosure of your house in Cincinnati & Dayton.

    Sell Immediately

    In order to stop foreclosure of your house in Cincinnati & Dayton, a direct and fast sale is often the best way to go. Ohio Cash Buyers LLC is a professional buyer in Cincinnati & Dayton that will help you sell your house fast, stopping the banks and avoiding the destruction of your credit. Not all buyers are the same – Ohio Cash Buyers LLC is dedicated to helping homeowners in difficult situations, providing fair solutions that make sense for all parties involved. While you may not receive the retail price, you will be able to sell in just a few days saving you thousands on commissions, repairs, and holding costs. Giving up your home can feel difficult, but it is better to sell by choice than to have the bank come in and forcefully take over the property.

    Borrow Money

    For some homeowners, borrowing money from a family member can be a quick solution to stop the bank. However, this isn’t a longterm solution to your financial struggles. If the mortgage has become difficult to pay now, it’s likely that it will be difficult to pay going forward. Getting into a pattern of continuously borrowing money will only get you into more debt, but this time it will be with multiple creditors. Borrowing money from loved ones can also strain your relationships with the people that you care about, making your difficult situation feel that much worse.

    Ask For Foregivence

    One option when you are struggling to make your mortgage payments is to reach out to your lender and explain the situation. In some cases, you will be able to defer a payment or work out a payment plan to make up what you owe. That said, you will still have to find a way to pay your debts. Deferring the problem will only push things back, it won’t magically get you caught up or erase the debt you are in. Asking for forgiveness is a one-time thing, to help deal with an unexpected situation… not something to bail you out long term. Loan forgiveness is also known as loan forbearance and is used after an illness, a loss, or anther one-off circumstance.

    Refinance

    Refinancing your property can help you to achieve a lower monthly payment, but there is a cost. If you choose to refinance with a hard money loan, your interest rates can be through the roof. While this may help you to save your house from the bank, it will ultimately cost you more money in the long run. You can also work with your current lender to refinance your current loan, however, you need to prove you will not have trouble with your payments going forward.

    Rent The Property To Someone Else

    If you aren’t able to pay the mortgage yourself, maybe someone else can. Of course, This means that you will need to quickly find somewhere else to live at a price you can more easily afford. You’ll first need to find high-quality tenants who you can count on to pay the rent each month. If your situation allows, you could also choose to rent out a bedroom in your home for some extra cash, while you continue to live in the home as well. Just make sure boundaries are set on both sides so that everyone is comfortable with the living arrangements. Having the wrong people move in can cause you to default on your mortgage anyway, ending up with the same result of losing your Cincinnati & Dayton house to foreclosure.

    Declare Bankruptcy

    Nobody is thrilled about having to declare bankruptcy, but it order to fight off foreclosure, it may be the answer you have been waiting for. Declaring bankruptcy will restructure your debt and create a payment plan to get you back on track. While this won’t look good when applying for loans in the future, it can be a way for you to keep your current home, stopping the banks in their tracks.

    At Ohio Cash Buyers LLC, we want to help you stop the foreclosure of your Cincinnati & Dayton property. Our team can help you review your options and make you a no-obligation offer to help you sell quickly. Let our team help you quickly and efficiently handle any difficult property or situation you are dealing with.

    If you are having trouble paying the mortgage, we can help you stop foreclosure of your Cincinnati & Dayton house! Send us a message or call Ohio Cash Buyers LLC today!

  • 3 Options For Selling Your House in Cincinnati & Dayton

    3 Options For Selling Your House in Cincinnati & Dayton

    When selling your house in Cincinnati & Dayton, there is more than just one way to go about it. Every situation requires its own unique solution. In this post, we offer information about your available selling options so that you can sell your house fast and move on. 

    Do you need to sell your house in Cincinnati & Dayton? Our team is dedicated to helping homeowners in the Cincinnati & Dayton area who are looking for the best way to sell their home. Take a look at the options below and do the math for your property. You might be surprised by what the numbers say for you!

    Hire A Cincinnati & Dayton Real Estate Agent

    Hiring a real estate agent in Cincinnati & Dayton is usually the first thing people think of when they decide they want to sell a home. The process is ideal for some properties and costly and time-consuming for others.

    The Good

    When you are selling a house in good condition and are working with the right Cincinnati & Dayton real estate agent, the listing process can be very beneficial. As long as the variables go in your favor, you can have great results when working with an agent. Your property should not require a lot of money to be spent on repairs. You will need to be able to sell the house quickly in order to save on holding costs, and you will need to have the property priced at the sweet spot in order to attract buyers and yet still retain a profit.

    The Bad

    The trouble with working with an agent is that there is so much left up to chance. You may end up working with the wrong agent, your house may not sell right away, and you may be forced to lower your asking price. You will need to have the house cleaned and make the needed repairs before putting the property on the market. You should also be prepared for potential buyers to request additional repairs be made after the inspection process. There can be many costs involved when listing your house in Cincinnati & Dayton], which is why for some homeowners, working with a direct buyer can be the better choice.

    Sell The Property On Your Own

    Selling your house on your own can seem like a wise choice, and for some people, it is. However, it is also important to understand the time and money that will need to go into a successful sale in this manner.

    The Good

    Using the For Sale By Owner (FSBO) method to sell your house in Cincinnati & Dayton, will save you money on the agent commissions. Many see this as a reason to sell on their own, however, you can quickly get in over your head if you lack real estate experience. With a little luck and some real estate experience under your belt, you can sell your home without the use of a Cincinnati & Dayton agent.

    The Bad

    The truth is, selling your house on the open market without the help of a professional real estate agent can be a lot of work. When you choose to sell this way, you will spend your time fielding calls, answering questions, showing the property, marketing the property, and dealing with negotiations, inspectors, repairs, and all of the legalities. In addition, working with an agent will typically help you sell the house for more money. A great agent will be a pro when it comes to negotiation, ensuring you get the most for the house as you possibly can. People hire agents for a reason, and truth be told working with the right one can be worth their weight in gold.

    Sell Your House Directly To Ohio Cash Buyers LLC

    The Good

    Working with Ohio Cash Buyers LLC will allow you to sell your house fast in Cincinnati & Dayton, without any waiting, commissions, or repair costs. Our process will save you time and money. Selling this way will be the most straightforward and convenient choice. You will be able to compare your options, learn about the pros and cons, choose your closing date, and have the ability to plan ahead. For many homeowners, in many situations, speed, convenience, and a guaranteed sale far outweigh the risks of a traditional listing.

    The Bad

    The only perceived downside of selling your house directly to Ohio Cash Buyers LLC is that you may not receive the full retail price. That said, the thousands of dollars you will save in commissions, repairs, holding costs, marketing expenses, and closing costs, can more than make up the difference.

    At Ohio Cash Buyers LLC, we think it is important that home sellers get all of the information they need about selling their houses in Cincinnati & Dayton. We encourage you to look at all of your options, weighing the pros and cons of each. Every property and situation are a bit different, which is why we are proud to offer alternative solutions to help our clients reach their real estate goals!

    Are you thinking about selling your house in Cincinnati & Dayton? Our team can help you explore all of the options available to you! Send us a message or give us a call today!

  • 5 Things Homeowners Should Know About Working With A Real Estate Agent in Cincinnati & Dayton

    Working With A Real Estate Agent in Cincinnati & Dayton

    Do you need to sell your house in Cincinnati & Dayton? In our latest post, we offer 5 things homeowners should know about working with a real estate agent to help sell your house. 

    When it’s time to sell your house in Cincinnati & Dayton, your first instinct may be to call up a local real estate agent to quickly get your house up on the MLS. While this works for some homeowners, there are a few things you should know before hiring a Cincinnati & Dayton real estate agent to help you.

    The Costs Can Be High

    If you decide to sell your house with a Cincinnati & Dayton real estate agent, make sure that you are aware of all of the costs that typically go into a successful listing. Aside from the thousands that will be deducted from your offer when the house sells, you will have a number of expenses to deal with before your house even hits the market. To start with, you’ll need to make some basic repairs and have the house professionally cleaned. You could be faced with marketing costs such as photography and staging that isn’t covered in the scope of your listing agreement. Some homeowners will even have an inspection done on their own so they know what to expect when their potential buyers have one done. Add all of this to your holding costs, and you’ll see how a simple listing can quickly turn into bills costing thousands.

    It May Take Awhile

    While this varies from neighborhood to neighborhood and city to city, it will typically take much longer for a traditional sale to be completed as opposed to a direct sale. In fact, when looking at nationwide statistics, houses will take over two months to get an offer on average. While your house is listed, you will still have to pay taxes, maintenance, your mortgage, utilities, and insurance. Not to mention, you will have no idea how long the sale can take, giving you zero ability to plan ahead. Don’t miss out on your dream property because your house is caught up in a listing agreement that doesn’t make sense.

    Not All Agents Are The Same

    While some agents are there to help and provide genuine service to their clients, there are others who are simply after that commission check. They will encourage you to make expensive upgrades to sell the house faster, they will encourage you to take less then it’s worth just so they are able to cash in before your agreement expires. If you decide to list your house with a real estate agent in Cincinnati & Dayton make sure it is someone who comes highly referred and that you are certain you can trust.

    Your House May Not Sell

    Just because you list your house and ask for a certain amount, does not mean that you will get it. Many sellers get frustrated when they find themselves spending money t list their homes for sale, only to hear crickets. Just because you fix things up and spend money making the house look as good as possible, does not ensure you will get an offer. If you decide to list and spend money getting your house ready for the MLS, make sure that you won’t be devastated if you do not see the returns you are after. When working with a real estate agent in Cincinnati & Dayton, there is no guarantee if or when you will receive an offer. And if you do get an offer, they may try to negotiate for a lower price.

    You Have Other Options

    The good news is that hiring a real estate agent in Cincinnati & Dayton is not the only way to sell your house. For certain houses and situations, investing money into the property before selling it can be a huge waste. Factor in the commissions, holding costs, and closing expenses, and you could be looking at thousands of dollars down the drain. Another approach is to sell your house to a direct buyer such as Ohio Cash Buyers LLC. Working with a direct buyer will allow you to sell your house in just a few short days without any fees deducted from the offer or money spent out of pocket. You’ll know exactly what to expect and when the closing will take place.

    If you need to sell your house in Cincinnati & Dayton, be sure that you are aware of all of your available options and how they will affect you. People aren’t always aware of the costs, time, and frustrations a listing can entail. Homeowners have been known to brush off the idea of a direct sale because of the lower prices associated with them. However, once you factor in the time, money, and energy that goes into listing your Cincinnati & Dayton house, you will see that the selling methods will produce similar results. We encourage you to run the numbers for your property so you can choose the option that makes the most sense. Please reach out to us if you have any questions about what we do and how we can help you sell your house fast in Cincinnati & Dayton!

    Working with a real estate agent in Cincinnati & Dayton may not be the answer for you! Explore your options by sending us a message or giving us a call today!

  • Our Guide to Cincinnati & Dayton Real Estate Contracts

    Real Estate Contracts

    As a real estate investor, when there is a deal at hand, there is necessarily a contract involved. While real estate contracts may seem intimidating, taking the time to familiarize yourself with the terminology you’ll encounter is well worth the effort. You’ll want to have a full grasp of contracts or a trusted guide to review everything on your behalf before you enter into any agreements. This knowledge will help you feel confident and assist in making wise choices as your investment business grows.  Understanding the different purposes of these styles of real estate contracts will be very beneficial to you in the long run. Here is our guide to Cincinnati & Dayton real estate contracts.

    Contract Assignments

    While it may sound complicated, Cincinnati & Dayton real estate contracts are often assigned to another buyer. In this way, real estate investors facilitate sales as a wholesaler between the seller and the end buyer. In other words, the original buyer has sold the rights to buy the house to another buyer. The end buyer pays an assignment fee, which is typically very small, and then proceeds with the purchase of the home from the seller. 

    “Subject To” 

    Selling property as “subject to” an existing loan is yet another way that Cincinnati & Dayton contracts may be written. This clause in a real estate contract allows a distressed seller, who may otherwise lose the property, to assign payments and right of residency to the buyer. Ownership of the property remains with the seller, who is still responsible for the original mortgage with the lender. The buyer is under no obligation to the lender, so should the worst happen and they fail to make the payments, regrettably, it is possible for the property to end up in foreclosure.

    Purchase Agreements

    A purchase agreement is what may be considered the most common style of Cincinnati & Dayton real estate contracts. This is a fairly simple and straightforward sale between the seller and buyer and contains all the elements of a legally binding contract. If you are working with an agent, it will likely be a state or association contract. If the sale is directly between the seller and the buyer, then the general purchase agreement is typically used. As for properties other than single-family, you may need to make use of a property-specific form.

    Lease Agreements

    If your plans involve becoming a landlord, your Cincinnati & Dayton real estate contracts will involve lease agreements. This guarantees the tenant the use of the property, for a specified period, while at the same time providing you with a guaranteed monthly income. These contracts are carefully laid out to avoid any confusion or misunderstanding of any issues that may arise and what exactly is expected from each party involved. You’ll want to be certain that you’re meeting all local, state, and federal guidelines.

    Power of Attorney

    While not commonly thought of, the power of attorney can be extremely useful in real estate contracts. Through the use of the power of attorney, you can convey your rights to conduct business to someone who is entrusted with your finances, an attorney, or an agent. They come into play when the owner is either not available to conduct business or is incapacitated, has had an accident, or is in seriously declining health and unable to conduct business any longer.

    Rent to Own

    The rent to own strategy is advantageous real estate contracts for Cincinnati & Dayton investors. As the seller, you collect monthly rent along with additional monies. The buyer has the ability to try the house out for a specified time period. There are two types of these contracts, the option to buy or the agreement to buy. The agreement to buy tends to be much more desirable to sellers, in general, given that the home must be purchased at the end of the agreement period by the renter. This strategy allows buyers time to build savings towards a deposit on a conventional loan and find financing. Should your buyers have chosen the option contract, they are not obligated as in the agreement to buy. Should they be unable to qualify for a mortgage loan the renter can simply walk away at the end of the agreement. 

    Do not let intimidating contracts stop you from success in your investment business. The professionals at Ohio Cash Buyers LLC are the best guide you could have to walk you through real estate contracts, we make your Cincinnati & Dayton real estate investment business easy. At Ohio Cash Buyers LLC, we take the time to listen to your dreams and help you make plans, and update plans as your life and goals change over time. When a great deal can be yours, you will know you’re using the contract that best suits your long term investment goals. Why not get started now? Just send us a message or call Ohio Cash Buyers LLC at

    today!

  • How to Buy a House After Going Through a Foreclosure in Cincinnati & Dayton

    How to Buy a House After Going Through a Foreclosure in Cincinnati & Dayton

    Foreclosure can make it seem impossible to ever buy a house again. The impact of the process can be devastating, long-lasting, and touch your life in a variety of negative ways. While you may believe you are destined to be a renter for the rest of your life, foreclosure doesn’t have to mean that buying your own home is no longer possible. With time and patience, along with perseverance, you can make buying your own home a reality again. By educating yourself as fully as possible about credit and real estate, you’re far more likely to be successful. Read on to discover how to buy a house after going through a foreclosure in Cincinnati & Dayton and start living the dream of homeownership again.

    Get Your Credit Report

    Your credit report must be improved during the period you are forced to wait to qualify for a mortgage, so that you may buy a house after going through a foreclosure in Cincinnati & Dayton. One of the first steps you should take is to ensure that the information being reported is correct and rectify any data that is in error. Another way to improve your score is to make timely payments without fail, this can have a great impact on the overall numbers as well. Additionally, you will want to make a concerted effort to pay down the balances on your remaining debts. Doing so will improve your debt to income ratio, which is the percentage of your income used to pay your monthly debts.

    Save Your Cash

    Because your credit has been so adversely affected, the more you save towards buying a house after going through a foreclosure in Cincinnati & Dayton the better. You may be required to put down more than the standard minimum because of your credit history. You’ll also want to have additional cash on hand to make any repairs or complete work, which often comes along with more affordable housing. If you haven’t yet, make plans to sit down and get serious about working out your budget and sticking to it without fail. Add into your budget saving from three to six months of your income as emergency living expenses. You may just be in for a shock to learn how much is being spent on small expenditures, such as special coffees or eating lunch out of the office every day. Dedicating yourself to your budget in every area of your life in very small ways can make huge differences over the long term and help you in your quest to buy a house. 

    Improve Your Credit Score

    Once you have gone through the process of foreclosure, it will remain on your credit history for seven years. Additionally, there is at least a two year period for VA loans, and at minimum, three years before you would be able to qualify for mortgages from other lenders. You will want to work swiftly, taking any actions within your power during this time to repair your credit score in any way possible. When you do buy a house after going through a foreclosure in Cincinnati & Dayton, you can expect to pay higher interest on the mortgage as well. For this reason, it may be beneficial to buy a property that is at a bargain price and invest some elbow grease equity into your new home. 

    Extenuating Circumstances

    Regrettably, circumstances in life can bring on changes that are unpredictable and are beyond our control and we are usually forced to live with the consequences. Should the cause of your foreclosure fall under this category, this fact can shorten the waiting period needed for you to qualify for a mortgage. To do so without any waiting period, your situation must meet the guidelines your lender considers as qualifying for the extenuating circumstances exclusion. Likewise, you must be able to show that you have fully recovered financially from the event and that the event is unlikely to occur again should you buy a house in the future. 

    Professional Buyers

    It’s never a bad idea to have an experienced guide, especially when you’ve done all of the work or repairing your credit and making sacrifices to save, in order to achieve homeownership again. Professional buyers can help you find a house at a discount. Considering the impact of a foreclosure on your credit, the lower the mortgage, the more savings over the long term. You can rely on the network of industry professionals that have been built over time with the best in the business. These professionals work to fulfill your goals and suit your needs, from the initial inspection through closing. Because of such networking, professional buyers have the inside scoop on the best deals in Cincinnati & Dayton. 

    Why not let a professional buyer, like those at Ohio Cash Buyers LLC, guide you step by step through the process needed to buy a house? Ohio Cash Buyers LLC makes it easy to buy a house and save money after going through a foreclosure. Ready to learn more about how to buy a house after foreclosure in Cincinnati & Dayton? Reach out to Ohio Cash Buyers LLC at

    today!

  • How to Determine Home Values in Cincinnati & Dayton

    How to Determine Home Values in Cincinnati & Dayton

    Ready to sell? Now the tough part, understanding how to determine home values in Cincinnati & Dayton.  Sellers often get caught up in memories that were created and attach an emotional value to the home. It can make the determination of the value an extremely difficult process and also result in the home being priced far out of range, as compared to other properties on the market. With an understanding of how professionals value property, you can save yourself from falling into this trap. While it may be difficult because you love your home, real estate is a business and it all comes down to the numbers and home values in Cincinnati & Dayton are always changing. 

    CMA

    A comparative market analysis commonly known as a CMA helps professionals to determine home values in Cincinnati & Dayton. This process is completed by the comparison of the most similar properties located nearest,  with predetermined values for additional features, such as a 2-car garage compared to a one-car garage. Additionally, if the other comparables surrounding the home have features that the property is lacking, these predetermined values would be deducted from the average selling price of the most likely properties.  It would be wise no matter which style of listing you select to sell your home to have your own CMA performed. You’ll be aware of the value of your home, based on the current actual market value. By doing so, you can avoid being shocked or insulted at what you may feel is an insultingly low offer from a buyer.

    Holding Costs

    Often homeowners who tried to sell their homes on their own find themselves Tangled in the web of internet marketing.  After a great deal of time has passed, being unsuccessful, many often turn to a real estate agent in the hopes of quickening the sale. Regrettably, whether you choose to sell your home on your own or List It with an agent, one thing is certain, there is no way to determine how long your home will be on the market as a listing. This must be taken into consideration when you determine the value of your home. You may consider lowering your asking price to stand out among the competition, as buyers filter their online searches by home values in Cincinnati & Dayton.

    Commissions

    When you set out to determine home values in Cincinnati & Dayton, no matter which listing style you select, in addition to your marketing costs, should you select to work with an agent there will also be commissions. The commission is based on a percentage of the sale price. As there are two sides in a real estate transaction, the typical commission is near 3% per side, so a home selling for $400,000, would deduct $24,000 from your profits alone, along with the traditional seller’s closing fees. It’s also possible that the closing agent and the real estate agent’s office could charge transaction fees. 

    Repair Costs

    Being forewarned is being forearmed and never is this more true than when you’re selling your home.  It would be wise to order an inspection of the property. If something is seriously wrong with the property structure, they may require you to fix it, or make other smaller repairs out of pocket before closing. It’s wise to contact professionals for at least two estimates of repairs, if you’re planning to do them yourself, create a realistic budget. With reliable data in your hands regarding the project timeline and expenditures, you can make an informed decision. You’ll have to determine if you want to go ahead and invest more in the home and make the repairs in order to reap a larger profit or sell the property “as-is,” deducting this expense from the asking price will give you a realistic current market value. You’ll be able to determine if an offer is fair for your home compared to other home values in Cincinnati & Dayton our professional buyers can walk you through each step of the process, we’re pros at determining home values in Cincinnati & Dayton. We can help you decide if selling to a professional buyer is the best choice for your property. Ohio Cash Buyers LLC typically closes in 30 days or less, and Ohio Cash Buyers LLC doesn’t take more away from your asking price, everything is figured into our offer.  we don’t charge commissions or transaction fees or require repairs, meaning no more waiting and thousands of dollars in overall savings! There are a lot of situations to think about when you’re ready to sell your house. Please send us a message or give us a call today at

    to discuss selling your house in Cincinnati & Dayton, Ohio.

  • What Home Sellers Need to Know About Inspections and Appraisals in Cincinnati & Dayton

    What Home Sellers Need to Know About Inspections and Appraisals in Cincinnati & Dayton

    Inspections and appraisals can be a huge part of the process when selling your house in Cincinnati & Dayton. Real estate transactions can be quite complicated, so it is important to understand the process in order to make the best financial decisions. Read on to find out what home sellers need to know about inspections and appraisals in Cincinnati & Dayton.

    Contingencies

    Home sellers need to know inspections and appraisals are an intricate part of traditional real estate contracts. These contracts typically have an inspection contingency or due diligence contingency. This allows protection for buyers, who are given a specific time period, such as seven days for the inspection to be completed. Should there be any issues found with the in Cincinnati & Dayton, the options for both buyer and seller are clearly outlined in the contract. Depending on how the contingency clause was written, the outcome of the inspection could cause closings to be delayed, or even cause deals to fall through. Failure to have this clause in a contract could mean that the buyer, having decided not to complete the purchase based on the outcome of the inspection, would lose their earnest money deposit, which shows interest and good faith to make the purchase.

    Repair Expenses

    Much news is brought to light for homeowners from having inspections and appraisals. These are typical processes of real estate transactions. Home inspections focus on the condition of the property structurally, as well as the systems which keep the home a comfortable and enjoyable property. This includes items such as air conditioning, heating, plumbing, electrical systems, water damage, termites, and the condition of the roof and foundation. The inspector will prepare a report for the buyers, to make them aware of any issues that were found. Depending on the conditions in the contract, after a negative report, buyers may have the option to request a time period for a second inspection, or even request a deduction on the price, to make the repairs themselves, the cost for the repairs is likely to fall on the seller’s head. It is wise to contact three professionals for estimates to get a realistic number as well as a timeline for completion.  These out of pocket expenses can quite literally run into tens of thousands of dollars, depending on the severity of the problems found in the inspection.

    Valuation

    Inspections and appraisals also bring into focus the actual current market value of the home, given all possible variables. While the inspection focuses on issues with the home, the appraisal is completed by taking several variables into account, including comparing properties that have most recently sold, that are most likely, and most near the subject property. Appraisers have predetermined values for bedrooms, bathrooms, and the like. They will add value to a property with more features than the comparable properties, or subtract from the subject property value for what may be lacking, such as having only a one-car garage, when those nearest all have two-car garages. Mortgage lenders necessarily require the appraisal to meet the loan-to-value (LTV) ratio. Basically, the mortgage amount is divided by the appraised value. Lenders use this measurement as a guideline, the lower the resulting number, the lower the risk on the loan. Should the loan-to-value be a higher number, the lender may require mortgage insurance to be purchased as well. Wise buyers will ensure that there is a contingency clause in the contract based upon the appraisal results as well.

    Deal Breakers

    Failing to understand the impact of inspections and appraisals in Cincinnati & Dayton can lead to disastrous mistakes which can end up costing a home seller valuable time and a great deal of money. Sadly, buyers may find their house isn’t worth what they thought only after the inspection and appraisal have been completed. With these and many other clauses that can be in place to protect buyers, problems may cause sales to fall through because the lender will not approve the loan.  The buyer may ask the seller to pay for repairs, out of pocket, before closing or to deduct the value of the repairs from the price of the home and renegotiate a contract. All the while, the clock keeps ticking and the seller is now paying to hold the property longer than expected, meaning that in reality, they are losing even more of the valuable equity that had been built in the home, and actually making even less on the sale.

    Ohio Cash Buyers LLC makes real estate transactions easy, even for first-time buyers or sellers, without any of the problems that accompany inspections and appraisals in Cincinnati & Dayton. At Ohio Cash Buyers LLC our network of professionals will lay out a plan to save valuable time and avoid what could potentially be thousands of dollars in repairs. A professional buyer’s purpose is to solve problems for buyers or sellers, so why not let a professional buyer, like those at Ohio Cash Buyers LLC, guide you step by step through the process? Send us a message or give us a call today to learn more!

  • Understanding Foreclosure and What You Can Do to Stop It in Cincinnati & Dayton

    Understanding Foreclosure and What You Can Do to Stop It in Cincinnati & Dayton

    The consequences of foreclosure have long-reaching effects that carry over into your personal and financial life for many years. Should you qualify for any type of credit moving forward, with a foreclosure on your report, you will pay the hefty interest due to the risk you now pose as a borrower. As life becomes more expensive, this red mark on your credit will necessarily force your standard of living in a downward direction. Housing can be difficult to attain, and a foreclosure on your credit history has the potential to jeopardize future employment opportunities as well.

    Ignoring this will not make it go away. The stress of the process also takes an emotional toll, as you are left wondering when the lender will repossess the house and sell it at auction. Sadly, a foreclosure could still leave you owing the debt remaining on the property as well. If you have already received a foreclosure notice, this is not the time to allow yourself to shut down from feeling overwhelmed. Take this notice as a last chance to turn things around and act accordingly. Whatever you do, if it has gone to this stage, do not bury your head in the sand. Stay all business when you speak or write. Avoid letting emotions take control, and this will help tremendously in keeping those lines of communication open. 

    Forewarned is forearmed. Want to stop the lender from foreclosing on your home and avoid facing all of the negative backlashes? Understanding foreclosure and what you can do to stop it in Cincinnati & Dayton can help you avoid paying such heavy debts.

    Discomfort

    Suffering comes in all forms, and having a roommate isn’t likely to be the optimal scenario you may have envisioned when you pictured homeownership. However, worrying about being able to pay your mortgage every month is not ideal. If you don’t already have a private living space within the home, such as a basement with a small kitchen and bath, you may need to sacrifice your master suite. Consider renting this space as you can bring in more for the rental and give both the renter and yourself a bit more privacy by having the facility contained within the rental area. Verify that your housing circumstances allow room rentals, such as HOA or other association rules and federal, state, and local Cincinnati & Dayton tenant laws. You should also check your insurance policy to ensure that the rental of rooms is allowed and won’t raise your rates dramatically. Taking quick action by getting a roommate to help with bills is another way to stop foreclosure in Cincinnati & Dayton. 

    Inventory

    Take inventory. Desperate times call for desperate measures. When your circumstances suddenly change, you must look inward to find the hidden treasures you have gathered during your life. If you face foreclosure in Cincinnati & Dayton, a quick fix to stop it is to liquify some of your other assets. It is better to act swiftly and allow yourself time to find the right buyer because no matter what the value of an item is on paper, it is only worth what someone is willing to pay to you right now. Taking this route to pay off your mortgage and save your home may be painful, so many homeowners first attempt to withdraw funds from less sentimental assets, such as savings accounts, 401k’s, or other property. Borrowers must sometimes sacrifice even their family heirlooms and cherished possessions to resolve their financial woes. It is time to look in the top of your closet and the attic for collectibles. You may even want to review your baseball card collection from childhood. Before cashing in, do your homework so you are sure to receive the total value for your belongings.

    Solution

    Want to end your foreclosure worries today? You can stop a foreclosure in Cincinnati & Dayton in its tracks by working with Ohio Cash Buyers LLC. You can sell your home to Ohio Cash Buyers LLC who can solve all your foreclosure problems. Ohio Cash Buyers LLC buys houses as they are, so you don’t need to worry about making repairs or even cleaning up for showings. You can simply pack up whatever you want to keep and walk away, leaving the rest to us. When you meet with a professional buyer from Ohio Cash Buyers LLC, they will walk you step by step through calculating the offer, ensuring you agree the offer is fair. Ohio Cash Buyers LLC uses simple, straightforward contracts. Ohio Cash Buyers LLC doesn’t charge commissions and has no hidden fees at closing. And Ohio Cash Buyers LLC pays in cash, making the process extremely quick. In most cases, you can close in a matter of days! And if you aren’t ready to move, Ohio Cash Buyers LLC can work with you on the closing date. Ohio Cash Buyers LLC makes it easy, handling everything with our in-house professionals from every walk of the real estate industry. Just call Ohio Cash Buyers LLC at

    or send us a message to learn more.

  • 5 Things to do Immediately After Inheriting a House in Cincinnati & Dayton

    5 Things to do Immediately After Inheriting a House in Cincinnati & Dayton

    Dealing with the loss of a beloved family member or very close friend is a stressful time that can become even more complicated by suddenly finding yourself immersed in dealing with an inheritance. It may be challenging to focus, so we have outlined five things to do immediately after inheriting a house in Cincinnati & Dayton

    Lines of Communication

    Communication truly is the key to success when dealing with other heirs after inheriting a house in Cincinnati & Dayton. Despite the modern conveniences of technology that eliminate the problems of heirs being far distances apart through virtual meetings, it is still common for multiple heirs to have differing opinions on what to do with a property. Emotions, too, can play a role in how these communications may play out. It is crucial to keep the focus of these discussions on facts. If you are aware in advance of conflicting dynamics, or it becomes apparent that things are taking a turn for the worse, it may be worth hiring a mediator the help during negotiations. One heir can force the sale of the property through foreclosure. However, the profits from this approach would be dismal, usually yielding around two-thirds of the fair market value (FMV).

    Probate

    When there are assets to be distributed, unless your loved one sets up a living trust and the acquisition is funded into the trust, you must file probate following the inheritance of a house in Cincinnati & Dayton. Probate is the settling of the affairs of a decedent in court. For probate to begin, the court must legally establish an executor or personal representative of the estate. Firstly, there must be collecting and accounting of the assets during the probate process. There must also be communication with the beneficiaries, which provides an accounting. Any claims from creditors must be satisfied along with the settlement of estate taxes if any. The probate court must also resolve disputes between any heirs for the trust or estate and, finally, the assets distributed.

    Executor

    Being named an executor when you inherit a house in Cincinnati & Dayton is an enormous responsibility. You must design and execute the plan for communications among the heirs. You will also need to develop the accounting methods for the trust or estate to be delivered when called for during probate. As the executor, you will have to gather the assets and also establish a relationship with the attorney, accountant, and other necessary professionals to complete the process. Be careful that you take every step possible to avoid mismanagement and follow all laws and not take any steps in your self-interest. Your prime directive in this position is to act above reproach and honor the will or trust, carefully adhering to the documents that are relevant and the intent of the deceased as outlined. 

    Affordability

    It is imperative to understand the financial aspects immediately upon inheriting a house in Cincinnati & Dayton. In addition to paying the mortgage and insurance, you will need to crunch the numbers on any debt associated with the property. In addition to the mortgage, obligations for repairs, or liens on the estate, you should consider tax liabilities. The IRS charges a specialized tax on capital gains, calculated on the difference between the original purchase price and the current FMV. Additionally, the condition and age of the property matter as homes age, and repair expenses can be overwhelming. If time or distance is at issue, you should also account for hiring caretakers or hiring a professional property management service if you hold the property. 

    Hold or Sell

    If you have decided against holding the property – Ohio Cash Buyers LLC will pay a great price and help you through the entire selling process after inheriting a house in Cincinnati & Dayton. Ohio Cash Buyers LLC understands that heirs need to move on with life and lose a loved one at such a difficult time. When you work with Ohio Cash Buyers LLC, usually closing in mere days, you can be relieved of the burdens that came with the property. At Ohio Cash Buyers LLC, we take the time to explain every figure used to reach our offer and that you agree it is fair. Ohio Cash Buyers LLC uses straightforward contracts with no commissions or hidden fees because our goal is to make the process easy. Ohio Cash Buyers LLC will take care of everything, just leave whatever you do not want to keep in the home and walk away. Whichever way you decide to go, Ohio Cash Buyers LLC is happy to help guide you. Ohio Cash Buyers LLC will answer any questions or concerns you may have with no obligation. There is nothing wrong with reaching out for help with any questions you may have if you feel overwhelmed with any task. You will find dedicated experts willing to share their experience and help you along the way at Ohio Cash Buyers LLC. Just give Ohio Cash Buyers LLC a call at

    or send us a message to learn how to solve your inheritance problems.