Month: October 2020

For your ease, we have provided a transcript of the Q&A Recording.

Hey this is Evan Shelley with Simple Sale Central Florida. We’re back for an August Q&A. The last few months we’ve been doing Q&As for commonly asked questions from clients that we work with.

We are a distressed home buyer throughout Central Florida. We buy properties in Orlando, Tampa, St Pete, Temple Terrace, New Port Richey, Ocala, Webster, Titusville, Melbourne, and we’ve bought properties in Palm Coast as well. So really all of Central Florida.

We’re just going to run through a few questions that we see with clients. Here we go.

1. Can I sell my house with code violations on the property?
So this one is kind of nuanced, where you can sell a property with code violations and we’ve bought properties with code violations. It’s common, though, that the buyer of the property is not going to want those code violations and will probably not buy it.

We’re different in the aspect that we do, depending on what the violations are, and there’s a difference between code violations and code violation liens and the type of code violation. If the code violation was for something simple, like an overgrown yard, that’s not a huge deal. You would just cut the grass down to a reasonable length, then Code Enforcement would remove the code violation, bringing you into compliance.

If you have code violations that have been a problem for a long period of time, you’ll have what’s called a code violation lien on the property. Typically those code violation liens will stack up at a couple of hundred dollars a day and if you have that lien for long enough and you don’t bring it into compliance it can run into tens of thousands if not hundreds of thousands of dollars.

An example of this, we bought a property in Tampa, Florida and it had 2 code violation liens at the time that we bought it. Those liens had been on the property for several years. So at $200 a day over several years it ended up being several hundred thousand dollars in code violations. So what we are actually in the process of doing – we brought the property into compliance. The place looks completely different. It was a very distressed property with many, many issues. After we brought the property into compliance by cleaning it up, we’re now talking with Hillsborough County about settling the code violation liens.

So with that being said, it really just depends upon your buyer, but you can absolutely sell it that way, but most buyers will not buy a property with code violation liens, but we absolutely do. We would probably buy a house with most any situation, but we would just have to evaluate the situation on the property before we made a final decision.

2. I found out my house has a tax lien against it while trying to sell. What can I do?
So this just depends on what type of lien. You have property tax liens, IRS tax liens. In the instance of a property tax lien, depending upon how much property taxes are – typically I’ve seen them everywhere from $1,000 to maybe $10,000.

If you’re selling the house, what typically will happen is the title company will take that $10,000 out of the proceeds. So let’s say you sell the house for $100,000. $10,000 of that will go to the municipality that is owed the $10,000 and the title company will send it to them. You can also pay it yourself outside of the sale, but typically your proceeds would just be reduced from the sale of the property by the amount that’s owed and that would take care of the tax lien.

So typically, it wouldn’t hold up a sale, but you would have to get that lien removed from the property before you can close. Typically a title company has handled those situations before so it’s not an issue where you can close and pay them at the same time the same day. It really just depends upon your situation but in most scenarios you can still sell.

3. My home was affected by a sinkhole, and it has not been repaired. Can I sell it?
Yes, you can definitely sell it. There are niche buyers that buy sinkholes. There aren’t a ton of people that buy them but there are definitely some, Simple Sale included. We will work with you if you have a property that has a sinkhole and it has not been repaired.

Those costs for repairs can be pretty high, but you never really know until you get the situation evaluated and then once you start the repairs, you’ll see how deep the sinkhole actually is and how much work and material is actually going to be used to stabilize that sinkhole.

So yes, you can definitely sell it. For the buyer it is a risky scenario. Typically with a sinkhole, that property is going to be sold at a steep discount because you could end up in a situation with a property that may never be able to be sold again to anyone because it may be condemned permanently.

In that scenario you can’t have tenants in the property and you can’t resell it to a retail buyer. There’s a lot of risk associated with selling and buying a property that has a sinkhole that hasn’t been repaired. But it’s totally possible and there are investors out there that will take that risk.

4. Are there any benefits to making repairs before I reach out to a home buyer?
I get this question all the time and it really does just depend. I feel like I’ve said that several times, but it really does just depend on what’s going on with your property.

There are some repairs that aren’t going to make much of a difference where you might think it would. You can take the time to go get, for example, you can go get… Let’s say you change the floors in the bedrooms because the carpet was a little worn. Is that going to increase the value of the property by more than what you paid for the carpet? Probably not.

It’s probably not going to be a significant difference to where you felt like the time you took to find a contractor and get the work done and move the room around is worth it for you. I just made that scenario up on the fly but some repairs don’t make much sense.

Now, if you’re going to go and completely update the house – absolutely, yeah. You could totally do that, and that’s going to be a huge value add based on the amount of money you’re going to spend compared to what the property is going to be worth afterward. It’s a great deal, but it’s a lot of work, and there’s a lot of risk of getting a bad contractor and things of that nature. It really depends on if you are a contractor or if you have any experience in remodeling and repairs.

In the situations where those big remodels would help the value of the house, it can become risky if you aren’t educated on handling contractors and working with contractors, making sure that they don’t overcharge you and making sure that the job is done right. If you’re just looking to get rid of the property, a lot of times it doesn’t make sense to make those repairs. If the repairs are significant, or if it’s a full update of the property.

If the property is in good shape and it hasn’t been updated, you’re typically still going to get more than you would think for the property even though it hasn’t been updated. As long as there aren’t significant issues and the property is fully functional, you are going to get more than you actually think.

It really would depend, I would say, in most scenarios it’s better for peace of mind just to go ahead and sell the property without taking several extra months and headaches to repair the property, because that’s not what you do. That’s what we do every day. We buy and sell properties, we fix up properties. It’s what we do, but for most people that may not be the best option.

5. I can’t afford the cost of a probate, but I need to sell my home. What can I do?
We have scenarios all the time, where someone needs a probate on a property and they can’t afford it, they can’t pay the lawyer for it, and they want to sell just to get rid of the property. A lot of times those people don’t even know they need a probate, so what we do in that scenario is just pay the lawyer fees. We take the risk of the probate, because probates aren’t always going to be smooth.

You can have errors, have disputes and probates can get ran out for months, if not years. You can find homebuyers that will pay for that probate. I know Simple Sale Central Florida does. I’m sure other homebuyers do as well, and that they’ll help you through the process, because we handle probates all the time. We’ve seen a lot of different scenarios and our lawyers have seen a lot of different scenarios so I’m sure that we can take care of you.

6. My house could use a lot of upgrades, but I don’t want to deal with it all. Will I lose a lot if I sell it as-is?
I think that’s pretty similar to the other question. Well, I actually ended up answering that question on the last one. It’s not the same, but if it has a lot of upgrades and you don’t want to deal with it. Like I was saying, you won’t lose as much as you would think selling it as-is as long as the property is functional.

Because in a lot of scenarios that house will become a rental property if it’s fully functional. That’s probably the highest and best use for it that can bring a higher value for the property. If it’s just remodel upgrades then you won’t. If it’s a property where there’s tons of issues where, for example, we were talking about the kitchen. If the sink doesn’t work and the dishwasher doesn’t work, none of the appliances work, the cabinets are on hinges that don’t work, then making that upgrade would be a significant help to the value of your property. It’s just a lot of work and a lot of headache. If all the appliances work fine, the sink works fine, the dishwasher works fine, the cabinets are fine – it’s just dated, then you’re probably not going to lose as much as you think you would and the property still does have value as is.

7. What’s up with those “we buy homes for cash” signs on the side of the road?
So those signs are typically people – it’s just a form of marketing – and those people will buy houses or they’ll have investors. They’re just using that form of marketing because a lot of people will, in the right locations, pass by those signs just like billboards. I don’t really see any significant issue with it.

The only problem I would say with working with those people, is possibly credibility. A lot of times those people aren’t established, those companies aren’t established. They’re possibly new to the business, or may be a little shady with their tactics of working with sellers. That’s not speaking for every one of them, but for some of them that will be the case.

If it’s a reputable company, they’ll probably be trying to market to you on different avenues like Facebook for example, Google, billboards, where you’re representing a brand with accountability and trustworthiness and good reviews. It’s going to be hard to get reviews from a sign on the side of the road. So I would just be cautious. It doesn’t mean all of them are that way, but it does definitely mean that there’s a possibility of working with someone who doesn’t operate in the correct manner and look out for the interests of the client like they should.

8. How can I get the most value out of my distressed property?
That’s a good question. I would think, I mean, some of the things you can do that are the easiest is – let’s say for example, that the house has a lot of items in it. Inside, outside, everywhere. You could probably pay someone a thousand, couple thousand dollars to come in and clean out the entire property and just have no items, the house is empty and it’s not a mess. That could bring a pretty quick value add. You may put a thousand in and it may get 5 or 10 more out of it just because it just looks more appealing.

It’s not a significant difference in the property, but a lot of times people that have properties in that situation, like landlords – they’re just over it. They’re just ready to sell, they just want to be done with it and I can totally understand that. You know, it’s like anything else in life that you’ve had. If you’ve had something for a long time and you’ve had bad experiences with it, you just want to get rid of it.

But that would be one easy way, just anything cosmetic. If you have holes in the wall and you know how to repair drywall that would be a pretty quick way to make the property more appealing. You can even do little things like changing out doors. The front door could make a significant difference if it’s very, very old and has issues. Cosmetic stuff can go a long way with a distressed property, where for the buyer it’s a lot more appealing.

Now when you start getting into, like we were talking about, trying to do full home upgrades, unless you’re very experienced in it you’re going to have a lot of headaches with contractors, and it’s going to take a lot of time. I would just say cosmetic stuff would be the easiest way where the property is more appealing to the buyer.

With a distressed property, say with legal issues, it’s clearing up those legal issues as much as you can without a lawyer. If it’s a family dispute, you should try to work that out with your family before doing a deal with a home buyer. If you have a situation essentially figured out at that point, the property is going to bring a lot more money because it’s going to be a lot less headache for a home buyer. It’s going to be a lot more appealing to them.

9. If I’m interested in selling, what’s the easiest way to get an offer?
I would say there are several different avenues for selling, at this point. It really just depends on the condition of your property. Let’s say your property is in solid condition, has no issues – no legal issues that you know of, anything of that nature.

Typically, an iBuyer is going to be your best bet. An iBuyer would be something like OpenDoor or OfferPad. They can pay premiums for properties that a lot of buyers cannot and typically from what I’ve seen those offers are higher than you can get anywhere else.

I will say, though, we recently had a property in Bradenton in which we actually offered more than OfferPad did, which was unusual for us, we typically would not. I’m not sure what happened in that scenario, but typically they will offer significantly more than we can. So for most people, that is going to be the best bet if the property is not distressed.

For people that are trying to sell a distressed property, we’re – you could term it – a distressed iBuyer, where we really only buy distressed properties with significant legal issues, significant repairs. There has to be issues with the property for us to have interest, because we’re in the business of buying those distressed properties and taking care of the situations and then re-selling the property rather than just quickly buying a good looking property for a little less and then reselling it. That’s not really our model that we work with.

So it really depends on your situation. I mean, if it’s a distressed property, then we could definitely get you an offer. Another, are other companies that make offers on distressed properties. In some scenarios we’re the only company making offers because the property is so distressed, has so many legal issues. We have a property right now that we’ve been working litigation on for 8 months, and that property – we still haven’t gotten all the legal issues fixed yet.

But that’s what we do, and those are the properties that we buy. There, I would just search online – there’s Simple Sale Central Florida and there’s a couple other legitimate buyers in Central Florida and then, of course, Zillow, OpenDoor and OfferPad if your property is not distressed.

10. Will you buy my home even if it’s not distressed?
So that, I tied that one back into the last question. We typically do not. We’re just not competitive, it’s not our model. I mean, we’ll make an offer and we’ll make a credible offer where we’re not going to change the offer price on you or anything of that nature, but, as far as buying it just to buy it we really probably aren’t your best option. If it’s not distressed at all and you’re not wanting to just get a quick cash offer, then I would highly recommend you list the property with someone that you know and trust.

We do have a brokerage now, Simple Sale Realty, that will list your property. We can list that property for you if it’s not distressed, but I highly recommend working with someone that you know and trust. That would be that would be your best bet for a good experience. We have highly qualified realtors at Simple Sale Realty that I’m sure we can help you out with that listing.

11. Are there any fees associated with selling the property?
This is probably the second most common question I get. So there really are not any fees. If the property offer is $150,000, that is the amount that you will receive, minus if you owe any property taxes. If you don’t owe any property taxes it will be $150,000, flat.

In scenarios where there’s liens, you’d subtract the liens, but as far as just outright fees, there aren’t any. We pay all closing costs for the property, so you don’t have to worry about it. So, to fully answer the question: No, there aren’t any fees, it would just be items that are owed by the seller – the owner that’s selling the property, like property taxes. If there’s code violations, you’d have to pay those, but aside from that, there won’t be any fees associated.

I know other models — I believe the iBuyers – they have an offer and then they subtract fees from it. Those fees are all laid out, but there are fees associated with those closings that you have to pay attention to.

12. How long can I stay in my property after closing?
This is a really common one too. Typically we will allow, like, 14 days after closing. We’ve done more, but typically if it’s more than 14 days you’ll essentially rent it back for a month for market rent price in order for you to get yourself situated into another property. So that’s not an issue. But 14 days or less, typically you can just stay on the property and there’s no issues. So, yeah I think that fully answers it.

Wrapping Up

That was all of our questions. If there’s any other questions you can type them in the comments now. I haven’t seen any comments, so I think that will wrap it up for today, and I’m sure we will be back next month in September for another Q&A.

And, as always, if you are looking to get an offer on your distressed property you can go to simplesalecentralflorida.com. We’re rapidly growing throughout Central Florida like I was saying, buying properties in Bradenton, Sarasota, Tampa, St. Pete, New Port Richey, Temple Terrace, Orlando, Ocala, Kissimmee. I’m just trying to think of all the places. And then on the east coast as I mentioned earlier, Titusville, Melbourne, Palm Coast, Daytona.

So we’re looking everywhere, and we’re actively buying everywhere, even with everything going on in the economy, we are trying to purchase properties and keep moving. So if you have a distressed property you’re looking to sell, feel free to come to the site – simplesalecentralflorida.com.

You can check us out on Facebook, you can check us out on our Google reviews, and if you are looking to sell your distressed home, I would highly recommend working with someone with great reviews and a lot of credibility. You can typically tell that pretty quickly after looking at their social medias and their reviews; it will give you a good idea of the company that you’re working with.

OK, I think that’s it. I will catch up with you all next month. Thanks. Bye.

When you know it’s time to sell your house, there’s a lot to prepare it for. Will it need repairs first, or will you be selling a house that needs repairs? This is a tremendously important decision to make as it affects how quickly your home will sell. It will also determine if you’ll receive market value for the home.

Conducting an accurate assessment of your house’s current state may lead to a list of necessary repairs, including both extensive and cosmetic ones. The decision then focuses on whether you will make all the repairs, some of the repairs, or sell the house just as it is. The amount of money you have available to spend or the amount you wish to invest in making repairs determines the route you take.

Another factor to consider is how quickly you wish to sell the house. You may find yourself unable to pay the mortgage, need to move suddenly, or inherit a house you don’t need. Weighing the pros and cons of selling a house that needs repairs can help you reach your particular situation’s right decision.

What is Meant by Selling As-is?

To sell your house as-is means you are offering the house in precisely the shape it is. This means no further repairs, warranties, or other offerings or assurances.

If you choose to sell a house that needs repairs as-is, there are several things you need to know to be sure you obtain the best result.

Selling Tips for a House that Needs Repair As-Is

Selling property as-is will not be as simple as throwing up a for-sale sign and hoping for the best. Whether you decide to work with a real estate agent or plan to sell your home all on your own, you will need to do a few things to ensure the house sales and sales quickly. Five essential steps you can take when listing your home for sale as-is include:

• Consider paying for a pre-inspection report. While hiring a home inspector does involve an expense, it can also provide valuable information to help you determine the price to ask for. It also will show you are in full disclosure to a buyer. Buyers respect this, realizing you are sincere and not trying to pull something over on them.
  
  Of course, the buyer will more than likely have their own inspection conducted to confirm the house’s value. If you choose to work through a real estate agent, this report will help determine how best to sell your house and how to target buyers, such as property investment companies or those looking for a fixer-upper.
  
  
• Add “as-is” in your sale listing. You want the right type of buyers looking at your ad and contacting you or your agent. By specifying you are selling as-is, the potential buyer knows you stand firm on not providing any repairs now or in the future.
  
  
• Highlight selling points. You will want to focus on your property’s positives, such as the one-year-old HVAC, new countertops in the kitchen, or ample storage space in the house and garage.
  
  
• Mention location.If the house is sitting in a specific neighborhood, location, or on a piece of prime land, this is a positive in the selling process. Be sure to include this location in your description. Also mention surrounding assets, such as parks, schools,  or walking distance to stores.
  
  
• Set a realistic price. Putting thought into the price you are asking by understanding the house’s actual shape and the market surrounding your neighborhood will allow you to set a realistic price that you can accept and that buyers will appreciate.

Who Buys As-Is Properties?

Selling a house that needs repairs will require knowledge of the type of buyer interested in these properties. The buyers of as-is properties are unique, differing from those looking for turn-key or minor flawed homes. Understanding these buyers is a crucial step to selling your as-is home quickly and for an acceptable dollar amount. So, who are the buyers interested in as-is properties?

• Location seekers.Often, it’s all about location. For example, you may know that you live in a neighborhood situated in a good school district. Rarely do many homes come up for sale, and when they do, stiff competition arises.
  
  Parents may be looking for other options, and, in turn, they are willing to put in some elbow grease remodeling a home if it’s in their ideal neighborhood. Promoting the positive about your location in your for sale advertisements can bring these buyers straight to your door.
  
  
• Cost-strapped buyers. Ready to buy their own home but low on cash, cost-strapped buyers are looking for as-is houses to work on over time. Home ownership is a desirable goal for many, and often they will accept less perfection to gain that ownership.
  
  Many of these types of buyers will have construction and home remodeling skills. They plan to make repairs themselves and see your as-is home as more of a doable project than a house in disrepair.
  
  
• Distressed home buyers. Perhaps the most recognizable buyer of an as-is home is a house flipper or investor experienced in purchasing distressed or as-is homes. The advantage of working with a distressed home buyer is that the process is usually quick, including full payment.
  
  These are often referred to as cash buyers, such as Meli Homes.  This no-hassle process with a quick turnaround could be your best option for selling a house that needs repairs with less effort.

Meli Homes Buys Houses As-Is

If you are looking for a quick, simple way to sell your house as-is in Central Florida, look no further than Meli. We make the entire home buying process seamless, usually completing the sale and purchase within 30 days. Contact us today by calling (407) 338-4183 to schedule your walk-through. We are here to answer your questions and give you the support you need.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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It can be stressful when you discover that you have a distressed property.  Uncontrollable external factors can result in outstanding mortgage payments or tax bills. Before you know it, if things don’t change, you’re facing the reality of possible foreclosure or selling your house as a distressed property.

Or, maybe your circumstances are different, there aren’t issues with your mortgage or late payments, maybe things have simply changed. Life happens, and it can happen quickly. Whether it’s a divorce, relocation, or family death, you may need to sell your house quickly and don’t have the time to go through the usual selling procedure and sell it on the open market.

It’s easy to feel overwhelmed and alone at such a time; you may not know how to sell a distressed property. Yet, you don’t have to be alone. You’re not alone. With our help, you can make the process of moving on as painless and productive as possible.

Looking at the Numbers

Let’s start with the stats. In 2016, 7.3 percent of all U.S. home sales were distressed sales. However, this was the lowest it had been since September 2007. It peaked in January 2009, making up a total of 32.4 percent of all home sales, with 27.9 percent of that share coming from REO (real estate owned) sales. This timing reflected the economic crisis at that time. Before this crisis, sales from distressed homes typically held 2 percent of that share.

These figures show you are not alone. So if you find yourself needing to sell your house quickly, there have been others—many others—who have been in your position.

Dealing with the Stress

Because we work with people in your situation, we’re very familiar with how you must be feeling. Whatever the reason for needing to move from your distressed home, there’s no doubt there’s stress involved.

Selling your house and moving is well-known as a significant stressor; add in the factors that require a fast sell—the sort of factors you’re facing—and the stress levels are exacerbated.

Selling Your Distressed Home to Meli Homes

We’ve made our process as straightforward as possible. There are four steps:

1. Contact a member of our team. You’ll find our contact information on our website. After you have initiated contact, we’ll get in touch to schedule a walkthrough. You can also contact us if you have questions or concerns that need answering. Don’t hesitate to reach out.
2. Schedule a walk-through. A walk-through is an integral part of the selling process; this is where you can increase your chances of a good offer. Ensure your house is in order, clean, bright, and attractive. If needed, you can schedule a walk-through in 24 hours or less! In fact, you’ll receive a $100 U-Haul gift card if you schedule a walk-through within 48 hours.
3. Get an offer. After the walk-through, you’ll get a fair offer from Meli, one based on your home condition. Our team also helps you manage any unsettled legal issues.
4. Receive payment. We guarantee that within 30 days, you will close on your home. At this point, if you need to stay in your home a few days after closing, this is possible. We understand there can be loose ends to tie up before moving on.

We’ve made this process as simple and streamlined as possible. We want you to know Meli Homes is here to provide the support you need. When you get an offer from us, that is the price you’ll get; no hidden fees, no backing out of our contract, no last-minute negotiations, and no going back on our word.

You can be secure in knowing that we’ll hold up our end and do what we can to help you through the process. And, maybe most importantly, if time is of the essence for you, Meli can help you close on your distressed home in 30 days or less.

Addressing Any Doubts

You may be reading this and thinking it sounds perfect, but wondering if your home meets the criteria. Will Meli be able to sell your home the way they’ve sold other distressed homes? The short answer is yes, but let’s go through some of the main concerns you may have.

Meli Homes buys all kinds of homes: mobile homes, single-family homes, multi-family homes, and condominiums.

We accept homes in any condition. If your home isn’t pristine and in poor condition, this doesn’t matter. We love buying homes which the run-of-the-mill home buyer would reject; we buy your home as-is. This is our job, it’s what we do, and we don’t run from a property that needs some TLC or even major renovations.

Whatever your situation, Meli can buy your home, regardless of the difficult situation you may be in—unable to pay the mortgage, divorce, looming foreclosure, extensive repairs, code violations, or unable to sell with a real estate agent. Whatever the circumstance, we can step in and get to the business of selling distressed property quickly.

You’ll receive a fair, competitive offer for your property—with no fees; you’ll get every cent of the price we state. Then, when you agree to the offer, we’ll use our associates to resolve all liens, judgments, and title issues you may have. This process is simple and removes you from the overwhelming responsibility which accompanies these legal matters.

Why Us?

Why is Meli Homes the perfect fit for your distressed property? We care, and we have the experience and the means to quickly move you out of your current situation. We know the unexpected can happen and will meet you where you are, literally, figuratively, and financially.

Contact Meli Today

You don’t have to be alone in this process. Sell your home as-is, quickly and easily by reaching out to us. Meli can be your cash home buyers in Melbourne, Tampa, Orlando, and central Florida’s surrounding regions.

Contact Meli Homes today by calling (407) 338-4183 to schedule your walk-through. We are here to answer your questions and give you the support you need.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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Life is unpredictable, and we can’t always plan for every eventuality. Job loss, illness, or a family member’s death may find you struggling to meet financial obligations, including your home loan. Alternatively, perhaps you’ve inherited a home with a mortgage you can’t afford or requires significant repair.

If you find yourself with a home that you can no longer afford to keep or maintain, you may have a distressed property to sell. Buying or selling a distressed property is different than buying or selling a home on the open market.

We can show you how to get rid of a distressed property quickly.

What is a Distressed Property?

In the state of Florida, a distressed property is any property that is facing foreclosure, being sold by a mortgage lender, subject to legal issues, or in disrepair.

As a result of such circumstances, distressed properties tend to be more challenging to sell and generally sell for less than market value.

There are several reasons a property may become distressed:

• Financial Issues
  Homes are often deemed distressed when a homeowner falls significantly behind on their mortgage and is facing possible foreclosure or the sale of their property by their lender. The homeowner’s only recourse becomes selling the home or losing the property to a bank or lender.
• Legal Issues
  Homeowners may also find themselves, and their property, tangled up in legal issues. If you owe back property taxes, have costly building code violations, or are going through a divorce, keeping the home may not be a viable option.
• A Death
  Because most households require dual incomes, if you’ve lost a partner or loved one, paying a mortgage on one salary may not be feasible. You may have inherited a property from a relative who passed away and can’t afford to cover the existing mortgage, or the home needs significant repairs you can’t afford to make, or projected renovation costs exceed a reasonable selling price.
• Need to Move Quickly
  Any number of things can create a need to move quickly. For example, a job loss or job promotion can result in a forced relocation that you weren’t anticipating. You may simply not have the time to deal with the complexities of selling a home on the open market.

The Open Real Estate Market vs. a Distressed Property Investor

If you have found yourself in an untenable position with your property, you’ll need to decide whether to sell your home the traditional way, with a realtor on the open market or sell your property to an investor or to companies that buy distressed properties like Meli Homes.

• Time
  We all know that the real estate market is fickle, and selling a home can be very difficult, particularly if it is distressed. Most recent statistics in Florida cite the average number of days on the market at 73. And once the home sells, you have to deal with loan approval, appraisals, and other complications that can drag the process out even further.
  You may not have the time or the financial ability to wait for your home to sell. Meli Homes represents cash buyers eager to move as quickly as you. From start to finish, the sale of your distressed property to us usually takes less than 30 days.
• Money
  In addition, listing a house in Florida is expensive, and the fees incurred when buying or selling a home can be astronomical. Realtor commissions, appraisals, closing costs, and the cost of requested repairs add up quickly. Particularly if you find yourself struggling financially, you may want to avoid the open market with its many additional costs entirely.
  Meli Homes buys your home without charging the fees associated with a typical home purchase.
• Hassle
  Let’s face it; selling a home is stressful and often burdensome. Your life is put on hold, waiting for the house to sell. In the meantime, you have to deal with open houses or home walk-throughs.
  Requested changes or updates from the buyer can seem endless, and traditional home sales frequently fall through before closing, leaving you to start the whole process all over again.
  Selling your home to Meli Homes is a straightforward process and eliminates all the hoops you’d have to jump through if you tried to sell on the open market.

What Can Meli Homes Do for You?

Meli Homes is Florida’s top-rated distressed home buyer. We know how to sell a distressed property. We have purchased countless difficult-to-sell homes and have happy clients all over the state, including Orlando, Tampa, Melbourne, and Cocoa Beach. There are many companies that buy distressed properties, but none have the specialized experience of Meli Homes.

At Meli Homes, we understand distressed property buyers, and we know the Florida real estate market. Distressed properties are our specialty, and we offer a quick, no-hassle option to selling your home at a price you deserve.

Of course, you want to ensure you’re getting the best price for your home based on comparable properties in your area. We respect and understand distressed property owners and have a reputation for getting our clients their asking price.

Besides, the process of selling a home can be time-consuming, complicated, and tricky. Our experienced team helps you navigate the unique steps of selling a distressed property quickly and easily. And all our buyers are financially verified, eliminating the cost of hidden or unexpected fees.

Deciding what to do with a distressed property can be overwhelming. You don’t have to endure the process alone. The experts at Meli Homes are here to assist you every step of the way.

If you would like more information about selling your property or what Meli can do for you, give us a call at (407) 338-4183. We’re happy to help shoulder the burden and help you get the most desirable outcome.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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If you want to sell your distressed home, you will likely consider individuals as well as companies. However, companies are a better option because they can afford to pay the full price upfront in cash.

Companies that buy distressed properties are sometimes predatory and non-transparent. When choosing your buyer, make sure you research their business policies, financial situations, and reputation.

What is a Distressed Home?

A home becomes distressed for many reasons. Falling behind in your mortgage payments, failure to pay your property taxes, or avoiding federal tax payments can all result in a distressed home.

A home in disrepair is also considered distressed. Sometimes, homeowners cannot pay to maintain their properties, or they fail to pay their contractors.

A quick move, divorce, threat of foreclosure, or death of a home buyer can also force a short sale, which is easier when the home is considered distressed.

How to Find a Buyer

Most often, homeowners selling a distressed property want to sell as quickly as possible. Going through a realtor can take 2-3 months, more if the market is slow. In addition to the wait, you will need to pay your realtor a fee.

Instead, research local companies that buy distressed properties. The companies, usually called cash home buyers, often offer a quick turnaround, sometimes taking less than a month for everything, including closing.

The best way to find a cash home buyer is through word of mouth and google. Ask your friends and family if they have any recommendations, and look online for companies in your area.

Why Should You Sell To a Distressed Property Buyer?

The top reasons for working with a cash home buyer like Meli are financial. However, there are many other reasons to choose a company that specializes in buying distressed homes over a private buyer.

• Distressed property buyers will pay you in full upfront. Many private buyers will need to take on a mortgage, which might delay the process. If the buyer fails to qualify for a mortgage, your sale will fall through, adding another month or two to the process.
• No need for an appraisal. Private buyers often prefer to purchase turn-key homes that are in top shape. Meli will buy your house as-is for a slightly lower price, meaning you won’t need to pay for repairs.
• No open houses or staging. Often, homeowners looking to sell quickly have too much on their plate to organize multiple open houses. A cash home buyer will arrange one walk-through with you, saving you time.
• Benefit from their experience. Cash home buyers know the ins and outs of buying homes and can speed up the process. You might close within days instead of weeks.
• No closing fees. In traditional sales, the buyer is often responsible for up to 2% of closing fees. Meli covers all the closing fees.
• Save time. Meli will close on your house in 30 days or less.

Vetting My Buyer

Always do background research on your buyer before signing an agreement. Look up recent customer reviews on Google and the Better Business Bureau.

As a seller, you have the right to request proof of funds from your buyer. Although cash home buyer companies are more likely to have the funds available than a private buyer, it’s best to ask for confirmation in writing.

You should also speak with the company over the phone and arrange an in-person meeting. There are always internet scams lurking, and personal conversations can help weed out scammers posing as fake buyers.

Choosing a Buyer

After vetting your potential buyers, you’ll need to decide which one you want to work with. Although you’ll probably base some of this decision on who you prefer, you should take several practical matters into account.

Look into what fees you will need to cover. Meli covers all closing fees, meaning you will receive the entire offer.

See how long the process takes. If you need to sell your home quickly, you don’t have time for a lengthy, drawn-out closing process. Look for a company that can help you fix any outstanding complications with your title or taxes.

Talk to the people at the company. Packing, moving, and selling a home is stressful, and you want to work with a supportive and helpful buyer.

If you need to sell a distressed home quickly in Florida, consider working with Meli in Central Florida. Our team is welcoming and always ready to answer your questions whether you are selling a distressed home in Melbourne, Tampa, Orlando, or any other Central Florida area.

Meli’s Process

Selling your house to Meli involves four easy steps.

1. Contact us by phone, email, or our online form. We’ll get back in touch with any questions and more in-depth information about our buying process.
2. Set up a walk-through. We’ll do an appraisal of your home and give you an offer that day.
3. Agreeing to an offer. Once you agree to our offer, we will start the selling process. We’ll help you sort out any liens, problems with the title, or judgments. Let us know your schedule, and we will do our best to work at your pace.
4. Payment. With no closing fees to worry about, you’ll receive our payment in full.

How to Talk to Your Buyer

How you talk to your buyer and what your house looks like can influence the buyer’s offer.

Honesty is the best policy. When you speak with your buyer, you must reveal any structural or financial issues with the home. Before closing, your buyer will learn about any liens or judgments and might back out at the last minute. If you are upfront about the problems, your buyer can determine an offer based on the actual situation.

Tidy up. Before your walkthrough, put away clutter and clean the house. Clutter makes a room look smaller than it is. Pet hair or dirty dishes might affect the buyer’s opinion of your home. Don’t worry about making your house spic and span, but a little sprucing up can go a long way.

Make repairs. If you’re able to make repairs before selling, you will likely receive a higher offer. However, if you can’t afford repairs or don’t have time, Meli will buy a home in any condition.

Contact Us

If you need to sell your distressed Florida home quickly, call Meli in Central Florida today at (407) 338-4183 to set up a walkthrough of your property. We’re also available to answer any questions you have about selling distressed property with no obligation to sign a contract.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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Sometimes, outside factors mean that you can’t keep up with your property taxes, mortgage, or home maintenance. After you miss several payments, you will likely face the threat of tax liens, foreclosure, and a poor credit rating.

Instead of suffering legal repercussions, consider a cash sale of your distressed home. Some cash home buyers will purchase homes regardless of judgments, liens, or damage.

When To Sell A Distressed Home

It can be challenging to decide whether you should sell your home or not. Several situations can result in a distressed property, and each requires a unique approach.

• Tax Lien / Judgement Liens

If you have not paid your property taxes, the Florida Revenue Service or the IRS will place a tax lien on your property. However, you don’t need to jump to selling after your first missed tax payment.

The FRS will send you a Notice of Delinquency when you fail to file taxes. If you don’t pay in full after receiving the notice, they will send a Notice of Amount Due. After 90 days, the FRS can file a tax lien if you haven’t paid your bill. If you cannot afford to pay your taxes, you might want to sell your house quickly. You can use the profit to pay off back taxes and remove the lien on your property.

Judgment liens occur when a creditor sues you for lack of payment in court. In this case, you may have to sell your house to repay your creditor. These types of liens can happen due to failure to pay child support, contractor bills, or other outstanding bills like credit cards or utilities.

• Divorce

Sometimes, divorcing couples agree that one spouse will buy out the other. However, that isn’t always feasible. You might want to sell your house quickly, so you can finalize your divorce proceedings or use the money to purchase separate residences. In this case, a cash sale is your best option.

Instead of going through a realtor and advertising your home on the open market, consider working with a cash home buyer like Meli. Our simple process will mean less time in a boardroom with your ex and money in your bank account faster.

• Quick Move

Sometimes, new job opportunities require immediate relocation. In cases where your new job is in another state, you might not have time to find a real estate agent, vet many buyers, and handle all the paperwork while also finding a new place to live and arranging for movers.

Meli is an experienced home buyer and can help you understand all the intricacies of Florida real estate law. You will also receive payment sooner, making any new mortgage applications easier in your new state.

How to Sell a Distressed Property

Now that you’ve decided to sell your home, you need to learn how to sell a distressed house. When selling a home, you can either list it yourself, work with a real estate agent, or find a cash home buyer.

• For Sale By Owner

For sale by owner sounds easy enough at first glance, but involves a lot of groundwork. You’ll need to learn about applicable Florida real estate laws, do your own advertising, prepare your home for open houses, prepare your paperwork, and vet your buyers.

Especially if you are already overwhelmed with financial problems, divorce proceedings, or a long-distance move, listing your home for sale by owner might be too time-consuming.

• Real Estate Agent

Working with a real estate agent cuts out much of the work, but comes with several downsides. It can take around 2-3 months for a house to sell. Depending on the market, that number could increase significantly. You will also need to pay your agent a commission and will likely be responsible for closing fees.

• Cash Home Buyer

If you want to sell a home quickly, a cash home buyer is likely your best option. They offer quick turnarounds, often closing within 30 days or less. They can also afford to pay you upfront in cash. Meli covers all fees, so you will receive their entire offer without any deductions.

Meli will purchase a house regardless of damage or pre-existing legal disputes. However, if you can repair your home, you can raise your asking price.

When choosing a buyer, whether you list your own home or choose to work with a cash home company, you should always confirm their financial situation. It can be hard to learn background information about private buyers. If you want to sell to a cash home company, read online reviews from previous customers on Google and the Better Business Bureau.

Once you meet with your buyer, be honest about any problems. Your buyer will learn about liens or judgments before closing and might choose to back out of the deal if you don’t inform them beforehand.

How to Sell A Distressed Home to Meli

Meli’s process is straightforward, involving only four steps.

1. Contact Us with information about your property. Meli will return your call to answer questions and schedule a walkthrough.
2. Schedule a walkthrough. Before your appointment, tidy up the house. Clutter can make rooms appear smaller, and a clean house might result in a higher offer.
3. Receive an offer. After seeing your home, Meli will offer a fair price. Our experienced team can help you handle any outstanding legal problems.
4. Receive payment. Within 30 days of initial contact, you will close on your house. Meli handles all fees. If you need to remain in the home for a few days after closing, you can do so.

Contact Us Today

If you own a distressed home in Tampa, Kissimmee, Orlando, Melbourne, Clearwater, or another Central Florida city, contact Meli today to learn more about how our process works. There is no obligation to sell until you sign the contract.

If you have questions about distressed properties, quick sales, or how to sell a house with a tax lien, are facing foreclosure, want to downsize, or are relocating, call Meli at (407) 338-4183.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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Most homeowners need to sell a distressed property due to financial problems. Whether facing foreclosure, a tax lien, or going through a divorce, homeowners often want to sell a house without losing money quickly.

Depending on the market and your location, it can take 2-3 months to find a buyer willing to pay your asking price. If you need the funds from the sale to pay your taxes or stave off foreclosure, two months might be too long to wait.

Like Meli, a cash home buyer is an excellent option for homeowners looking to sell in Central Florida without losing any money.

What Makes a Property Distressed?

Several situations can lead to a distressed home. Disrepair or lack of maintenance are the primary causes, but distress can also refer to households with financial issues. Failure to pay your mortgage or taxes can result in foreclosure, an involuntary tax lien, or a judgment against your house.

Divorce, a speedy relocation, or problems in probate court can also result in a quick cash sale of a distressed house.

Depending on the reason for your sale, there are several things you can do to increase your asking price and sell without losing money.

How to Sell a House Without Losing Money

The first thing to determine is how soon you need to sell your property. In Florida, you have 90 days after receipt of a Notice of Amount Due. After a careful examination of your financial situation, you may decide you need to sell your home. The sooner you decide to sell, the more time you have to prepare your home and find a buyer.

Situations like divorces and the death of an owner might allow for some more leeway in your timeline. If there is a possibility you sell your house on the open real estate market, there are a few things you can do to get a high offer from a buyer who invests in distressed homes.

• Fix Structural Problems
  If you can afford it, fixing major structural problems can significantly affect your asking price. Particularly if you are selling the home due to a divorce or a move, find a quick-working construction company. Before agreeing to any work, make sure the cost is worth it, and you’ll earn some return on your investment.
  
  Large issues like foundation repairs, significant electrical or plumbing work, and roofing may end up costing you more than is within your budget. Under these circumstances, it is often best to sell your home as-is. Selling your house as-is to an investor minimizes the stress of selling your home. Plus, it eliminates the need for major repairs.

• Clean Up Clutter
  Most buyers need to see your house in person before purchasing. Before your walkthrough appointment, clear away clutter and thoroughly clean every room. A buyer will be more interested in a clean, uncluttered house, which might influence their offer.
  
  Don’t forget to declutter your yard and trim overhanging branches and hedges. Small, simple yard maintenance tasks often cost very little and can do a lot to improve the curb appeal.

• Self-Appraise Your Home
  Do your research before setting an asking price. Look online and see what similar houses in your area have sold for. You can get an average estimate by multiplying your home’s square footage by the price per square foot of similar homes in the area.
  
  For example, if your home is 2,000 sq. ft. and the average cost per square foot of other houses nearby is $150, then a reasonable home estimate is $300,000. You can adjust the value according to the condition of your home.

• Vet Your Buyers
  Even if your buyers seem like friendly people, you should request to see their financial records. You don’t want to waste time hammering out a deal and signing paperwork, only for the buyer to back out at the last minute or not have the cash available.
  
  Working with a cash home buyer lowers the risk since these companies do not need to apply for a mortgage, and they often work with a network of experienced investors. However, you should still check the companies’ financials before coming to an agreement.
• Honesty
  Honesty is the best policy. Be upfront with your buyer about any tax liens, judgments, or structural issues. A buyer dropping out at the last minute due to previously unrevealed issues means you will lose valuable time.
  
  If a buyer discovers issues with your home that weren’t previously disclosed before settling, you may also be liable for litigation for fraud, costing you a substantial amount in legal fees.

Sell To a Cash Home Buyer

Selling a distressed home on the open market is time-consuming, complex, and you’re not guaranteed a quick sale. If your home is in disrepair or considered unsafe, you may be unable to obtain an appraisal, limiting your selling options. Real estate agents also require commissions, which can cut into the profits from your home’s sale.

A cash home buyer lets you bypass the complicated listing procedure by managing all the necessary documentation and connecting with a network of investors, lawyers, and real estate agents to help you sell your distressed home as quickly as possible.

Many cash home buyers prefer to buy a distressed home as-is. This means that you don’t need to perform any costly repairs or renovations. At Meli, there are no fees, commissions, or closing costs to pay, and we will perform a no-obligation walk-through of your home to help you make an informed decision about selling your property.

Finding and Vetting a Buyer

While most cash home buyers are trustworthy investors with an interest in flipping properties, some disreputable companies may not offer you a fair price for what your house is worth. Before selling your home to a cash buyer, it’s vital to find an honest company to ensure you are protected. Here are a few tips for finding and vetting a cash home buyer.

• Check online reviews on Google or the Better Business Bureau for positive client experiences.
• Examine their real estate portfolio and check country records for proof of their purchases.
• Ask the cash buyer to provide proof of funds with a bank statement.
• Explore their website and social media accounts for photos of previous projects.
• Read testimonials on their website.

Choose Meli Homes to Sell Your Home Fast

Understanding how to sell your house without losing money is vital to protect your interest and streamline your home’s sale. Selling to a cash home buyer takes the stress out of selling your distressed home. And, it ensures you receive a fair price without the need for costly repairs.

At Meli, we’ll schedule a walk-through within 24 hours, and can close on your home in 30 days or less. We are a reliable, trustworthy company with years of experience dealing with challenging housing situations. Call us at (407) 338-4183 to get started.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

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