Author: Evan Shelley

Owning a home is a significant responsibility, and there will always be factors outside of your control. The financial burdens associated with owning a home can become overwhelming to families if they encounter other financial emergencies. Most sellers become stressed when they learn that this may mean they own a distressed property but don’t understand the meaning behind it.

When it’s time to move, you might find that your home is considered distressed because of your financial circumstances and the timeline on which you need to sell. A distressed home generally sells for less than market value. 

It’s important to thoroughly understand the meaning behind a distressed property as a homeowner. This will help you weigh your options better when it comes time to sell. 

The Basic Definiton

The meaning behind distressed property often refers exclusively to financial problems. However, it’s common for distressed properties also to have physical problems. 

Distressed properties are common in areas where the economy isn’t doing well. They can also occur in other situations where the owners have fallen behind on payments and are struggling to sell.

Underwater Homes

Underwater homes are a special kind of distressed property because the home itself is often in good condition. Situations like this occur when the remaining mortgage is more than the property is worth. This usually isn’t due to neglect.

This sometimes happens if there is a dramatic drop in property value due to environmental factors. It may also happen if the homeowner hasn’t been making payments on time and has foreclosure looming.

Underwater homes are often sold in short sales, which is when someone buys them for less than what the mortgage is worth. After that, the house may be re-sold to new occupants.

Legal Ramifications

A mortgage is a legal contract between you and the mortgage company/bank that helps fund the purchase of your home. If you fail to hold up your end of the agreement, they have the right to take your home. They will do so after filing legal paperwork and giving you notice of foreclosure.

However, the goal for banks and mortgage companies is simply to make their money back. If the foreclosure hasn’t happened yet, you can still try to sell the home. The new buyer must be fully aware of the financial situation and any existing debts or liens on the property.

This is why there are companies that specialize in the legal intricacies of buying distressed properties. There is usually additional red tape that needs to be cut through before you can finally walk away from a distressed or underwater home. The average buyer won’t have time or knowledge for dealing with the bureaucracy, nor will they have the money necessary to buy the home outright instead of getting a mortgage.

Distressed properties are usually sold as quickly as possible to bail out the owners. This faster sale process means less time for inspections, which means that the property is usually sold as-is without legal recourse for problems discovered later. The buyer will be taking a risk on the purchase, but an experienced distressed property buyer will understand this risk and consider it when making an offer on the home.

Getting Out of the Situation

Distressed properties aren’t hopeless, and in some situations, families manage to turn the situation around and reclaim their homes. However, this is uncommon because of how often other bills and debts pile up at the same time.

Figuring out how to get rid of distressed property as soon as possible can help you avoid catastrophic impacts on your credit score. Since a lower credit score makes it even harder to recover financially after walking away from your home, it’s essential to move quickly before unpaid bills affect your rating.

Many owners of distressed homes move quickly to sell their property with that in mind. Even if the house has sentimental value, it’s not worth the risk to your financial health.

Home Selling Options

The standard option is to try to sell your home on the open market, with a lower price tag on it to entice buyers. However, this reduced price may also make it harder to cover the mortgage if your home is underwater.

Additionally, standard home sale terms require inspections and escape clauses for the buyer to slow down or even cancel a pending sale. This can prolong the challenge of selling the property and getting out of a bad financial situation. Selling a distressed property to a cash buyer who specializes in these types of homes is often the best option.

Who to Trust

Florida’s home-buying market is constantly in flux, with property values changing to account for demand. You need a buyer who understands the market and can give you a fair deal for your home, even if it is damaged in addition to being in distress.

It’s important to vet your distressed property buyer and make sure they’re operating a respected business. Scammers can try to steal your Social Security Number and property information by posing as a cash home buyer. If they can’t point to dozens of satisfied sellers, you should find someone with a better reputation.

Turning to an established cash buyer like Meli allows you to follow an easy step-by-step process for selling your home quickly, without the hassle of multiple showings, negotiations, or handling the paperwork yourself.

Cash Home Buyers in Central Florida

Our team at Meli is proud to serve the Central Florida area and beyond, providing fair offers for distressed homes and usually closing in just 30 days. We know that each distressed property is different, and we treat you with the consideration you deserve.

Our team works hard to cut through red tape and give you the best deal possible. Whether your home is facing foreclosure or has major hurricane damage you can’t repair, call us today at (407) 338-4183 to learn more about how we can help.

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If you are faced with a distressed property you can no longer afford, you’re not alone. In the United States, about 2.1 million households are three months or more behind on their mortgage payments. It may seem hopeless, but there are ways to deal with distressed property. Working with a cash home buyer like Meli can make the process of selling your home more manageable. Regardless of your situation, we make competitive offers when we buy distressed homes.

When Does a Home Become Distressed?

If you are wondering “what is a distressed property?” it’s essentially any property where the owner can no longer meet their financial obligations. Perhaps they’ve defaulted on their loan or no longer have enough money to pay the property tax and mortgage. In addition, a distressed property is generally a house in disrepair, having been neglected over time, or vandalized.

Distressed properties gain a lot of attention from investors because they provide a chance to buy at a bargain price and flip for a profit or to create a rental property. There are several options to consider for how to get rid of the house while improving your personal financial situation. 

What to Do Before You Sell Distressed Property

There are a few things to consider before you decide how to get rid of distressed property.

Find Out How Much Your Home is Worth

Before selling a distressed property, evaluate its true worth. There are several ways to approach this. 

The easiest and least expensive method of determining your home’s worth is with a Comparative Market Analysis (CMA). A CMA evaluates the relative value of your home by looking up nearby properties or contacting a real estate agent. 

There may be a need for an appraisal if there aren’t many comparable houses in the area. At Meli, we also provide you with an estimate of your home when it’s in poor condition and you are looking to sell.

Decide if You Should Repair or Sell As-Is

Whenever you’re dealing with a distressed house that has fallen into disrepair due to neglect, think about whether you can recoup your repair costs in the selling price before undertaking any major repairs. For example, vinyl window replacements in Orlando average $19,367, but the resale value is only $14,249 in 2021. That means you’d be able to recover just 73.6% of the money you’d spend. Do some research into which repairs add the most value to your property when selling a house in poor condition. 

Various things may go wrong during a major repair, including finding asbestos or lead which can increase your costs dramatically. So, significant repairs to a distressed property may not be the best option if you plan to sell it to a cash buyer. 

In place of a renovation, focus on freshening your home with minor updates like a deep clean and decluttering. The key to selling a property that needs a lot of repairs is to price it low and accentuate its best features. This helps to demonstrate the potential it has if repairs are made. Unfortunately, for a seller who’s in a financial bind, pricing low to attract investors isn’t always an option.

Evaluate Potential Buyers

Even if a conventional home buyer is interested in your distressed home, it’s likely that the process of them gaining approval from their lender will take some time, which can slow down the sale process immensely. This is especially true if the home is in need of serious repairs; the lending institution will likely perform an inspection and may be hesitant to approve the loan if they determine the financial risk is too great. 

Cash homebuyers don’t need a mortgage and have a network of reputable investors to rely on. You can reduce the chances of an offer disappearing at the last minute when you work with a reputable home buyer in Central Florida.

Give Complete Disclosure of Your Property Before Selling

Even if the property has material defects that aren’t visible to the naked eye, you must be honest about any possible flaws that could affect its value. Despite Florida not requiring the disclosure of defects in writing, concealing property defects raises the possibility of legal issues. Even when you are selling your house as-is, you are still required to disclose any defects you are aware of under Florida law. 

If the buyer discovers the issues before closing the deal, they will likely want the price reduced or pull out of the deal entirely. For your protection, it is best to have your disclosure done in writing.

Gather Your Real Estate Documentation

As a seller, you may find it challenging to get all your contracts in order. In addition to disclosing any issues with the home, you’ll need to ensure you keep copies of all sale-related agreements and file necessary paperwork correctly. Failure to do so can put you at risk of legal trouble down the line. To avoid handling the overwhelming documentation yourself, consider working with a professional cash buyer like Meli. 

With a cash buyer, you avoid the prolonged financing and closing process to complete the home purchase and we handle all the paperwork for you. You can also accelerate the sale with a cash buyer because there’s no need for a lender to evaluate the buyer’s creditworthiness.

Get in Touch with Meli Homes

While many homes on the market require some level of repair, some require extensive maintenance that can’t be ignored. If you don’t have the financial means to make necessary repairs to your home, consider implementing some of these tips for marketing the property, or contact a cash home buyer in Florida so you can off-load your property as-is without the hassle of listing it.  

If you’re selling a house that needs repairs in Central Florida, Meli can help. We buy distressed homes. Give us a call at (407) 338-4183 to schedule your walk-through and start a consultation. 

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Putting your house on the market in Central Florida without doing any upgrades is a bit intimidating. It can be nerve-wracking to list your home when it’s in a state of disrepair with a neglected yard or a roof that needs replacing. But not everyone has time or money to renovate a fixer-upper.

Selling a home in need of work at a reasonable price isn’t impossible, and it doesn’t require substantial investments. You can use some of these simple tips on selling a house that needs repairs to make your property more appealing to buyers.

1. Take Care of the Yard and Remove Clutter

A 2019 study found that curb appeal contributes to 7% of a house’s value when it is sold. Therefore, it makes sense to focus on landscaping to create a positive first impression with buyers and realtors. You certainly don’t have to spend a lot of money on landscaping; just mowing and edging the lawn, trimming the shrubs, and planting a few flowers may be enough. Removing clutter from your yard can also improve curb appeal.

2. Focus on Some Major Repairs

When selling a house in poor condition, focus on some major repairs since most buyers put a large percentage of their cash into the down payment and can’t afford immediate maintenance after closing. Taking care of these major improvements will allow you to ask for a higher price that covers the upgrade costs and attracts a broader range of purchasers. Some major repairs you can do to increase home value include:

• Install a new water heater
• Repair pipes or septic systems
• Update the HVAC system
• Replace kitchen appliances
• Update bathroom fixtures

3. Small Changes Can Have a Great Impact

If you don’t have the time or money for major repair projects, it’s worth the effort and money to make minor updates around the home. A few quick touch-ups can help make a positive impression on potential buyers who come to view the property. Some upgrades you can make in a pinch include:

• Refreshing your home’s interior with a coat of neutral paint
• Removing stains from bathtubs and toilets
• Changing light fixtures & bulbs to improve lightning throughout the house
• Getting a professional carpet cleaning

Even if your home is not brand new, it must be clean. Dirt, stains, and clutter can turn off potential buyers more quickly that more significant issues like worn flooring or outdated counters.

4. Bring Attention to the Home’s Features

How you stage the home affects how buyers perceive it. When you’re selling a house that needs repairs, consider how you can draw attention away from the property’s flaws.

Talk about your home’s best features, like a spacious master bedroom, additional garage storage, or a walk-in pantry. According to the National Association of Home Buyers, about 83% of home buyers place a walk-in pantry on their buying wish list, making it worth mentioning on a listing.

Buyers can always replace the home’s countertops and other aesthetic elements. But, they are more likely to take the plunge if its location and layout appeal to them. Consider highlighting positive neighborhood features such as local recreational activities, malls, and school districts.

5. Offer the House for Sale “As Is”

Properties advertised as being sold “as-is,” meaning there are no warranties, repairs, or any other assurances conveyed by the listing. If you have a desirable lot size, location, or floor plan, your property may still appeal to buyers even if it requires significant repairs.

Homebuyers who are strapped for cash, distressed home buyers, or individuals looking to flip homes for future rentals are all potential buyers for a home listed “as-is.” A buyer may still ask for an inspection of the home, but a real estate agent can set the expectations of no significant repairs. 

6. Engage the Services of A Real Estate Agent

Real estate agents offer a full range of services, including listing your home, staging it, taking photos, and negotiating with the buyer. An agent can recommend what minor repairs will make your home more marketable, and they can make suggestions for staging the property to highlight the home’s best features. 

However, keep in mind that a real estate agent takes a cut of the final sale price as commission. This may not be ideal if you’re already accepting an offer that’s lower than you’d like. 

7. Sell a House that Needs Repairs to a Cash Home Buyer

Cash home buyers in Central Florida can offer you several advantages over traditional buyers. Homebuyers who acquire properties with cash payments are often willing to buy distressed homes and offer quicker transaction times because they don’t require approval from a third-party lender.  

Contacting cash home buyers in Central Florida like Meli is as easy as calling and describing your circumstances and the condition of your home. If interested, we schedule a time to walk through your home and assess its value. You’ll then receive a firm cash offer that you can accept or reject. 

When Meli buys your home, we handle the paperwork and pay you in full. We typically close in just 30 days, which is ideal for individuals dealing with a distressed property they need to get off their hands quickly. A cash buyer gives you the best price for your house without all the hassle of traditional listings, showings, and negotiations. 

Get in Touch with Meli Homes

While many homes on the market require some level of repair, some require extensive maintenance that can’t be ignored. If you don’t have the financial means to make necessary repairs to your home, consider implementing some of these tips for marketing the property, or contact a cash home buyer in Florida so you can off-load your property as-is without the hassle of listing it.  

If you’re selling a house that needs repairs in Orlando, Tampa, Kissimmee, or the surrounding areas, Meli can help. Give us a call at (407) 338-4183 to schedule your walk-through and receive an offer. 

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Every home gets cluttered at times, but some homes end up full of things the owner has no use for. Hoarding is a rare but serious situation in which a home or apartment’s occupant ends up overwhelmed with things and refuses to part with them. Not sure how to sell a hoarder house, or what it even means?

Hoarding is a complex predicament that can have wide-ranging effects on family members. If you’re intervening in a hoarding situation or have inherited one, you don’t have to handle the sale alone. Here are some possible scenarios for how to sell a hoarder house.

Recognizing Hoarding

It’s important to remember that not all highly-cluttered homes are irreparable hoarding situations. If the owner or occupant can clean the clutter, you may be able to get the property to a saleable state.

Hoarding behaviors alone may be considered a mental illness, but can also be tied to anxiety, depression, or OCD. This often makes it more challenging for the individual to tackle the situation or make a change. Even having the help of family or friends isn’t always enough.

Hoarding usually results in unclean conditions around the home that can cause long-term damage to the carpets and walls. This is exacerbated if the hoarder had pets that were not properly cleaned up after. In most cases, hoarding houses are not attractive to traditional buyers because of the level of repairs they require.

Option 1: Intensive Clean-Up

When the occupant has passed away or has consented to selling their home and moving out, the most obvious option is to clean up the house and try to sell it. This may seem like a reasonable choice for low-level hoarders, but the expenses of a thorough cleanup can accumulate quickly, especially if minor repairs are also necessary. Selling a hoarder house can take months or even years if you take on all the tasks yourself.

You will need to enlist the help of a junk removal team and professional cleaners. Junk removal teams look inexpensive at first glance, but they often charge based on the number of items removed. This can add up fast in a hoarding situation.

After that, you may need to enlist a home repair expert to thoroughly inspect the home for damages related to rot and mildew. Many homes require carpet replacement at a minimum, and others need more substantial repairs to drywall, closets, and window frames.

The problem with attempting an intensive clean-up on your own is that the most expensive issues usually don’t come to light until well after decluttering has begun. Renovating a hoarder house can drive up original cleaning and repair estimates by tens of thousands of dollars. When you’re the owner of the house, you’re on the hook for these repairs, even if they end up outweighing the market value of the home.

If there are significant amounts of black mold or rot that have caused structural damage, a home inspector may deem the house unsafe, which will impact your ability to sell a hoarder house.

Option 2: Selling As-Is

If you don’t have the time or means to clean it, it may be time to figure out how to sell the hoarder house. Your second option is to sell the property as-is, leaving any damages for the buyer to deal with. This is not a common option for properties with moderate wear and tear but is worth considering for sellers dealing with a hoarder’s house.

As-is means that the buyer accepts the property with only a basic inspection and walkthrough and cannot back out of the deal in most cases. The buyer has the intention of cleaning up and even significantly improving the property. In dire situations, they could demolish the existing home and rebuild a new house in its place.

When you sell the property as-is, most banks and mortgage providers won’t provide any loans for the purchase. This is because the property is a potential liability, with substantial damage deeply affecting the home’s value.

However, a home can be sold as-is to a cash buyer in many cases. This relieves you of the stress of dealing with the property and allows you to start fresh elsewhere. It also means the sale will be completed more quickly since there’s no waiting time for inspections or mortgage approval processes. For homeowners with a distressed property, an as-is sale to a cash buyer is an excellent solution. 

Navigating Potential Buyers

Not everyone has the financial and logistical capability to buy a home in poor shape due to hoarding. A hoarder situation is often far more than the typical fixer-upper that the average DIY enthusiast can handle. 

The best buyers for hoarder homes are companies with long-standing relationships with contractors who can handle the cleaning and renovations. A company specializing in purchasing distressed and damaged homes for cash will know exactly who to turn to for repairing the home.

Companies specializing in buying hoarder homes will also know how to cut through the red tape to buy them quickly. In many cases, Meli can close on your home in 30 days or less, allowing you to unload your distressed property fast. 

The process with Meli Homes relieves pressure from the seller with a few easy steps. Call us today to answer questions about your home, then schedule a walkthrough so we can get a better look. We can make you an offer the same day, and if accepted, we can close in 7 to 30 days.

If you’re struggling with how to sell a hoarder house in probate or similar circumstances in Kissimmee, Melbourne, or Winter Park and the surrounding areas, reach out to Meli. We are a reputable, local home buying company with excellent reviews and a long list of satisfied sellers.

Meli’s Commitment to You

At Meli Homes, we understand that selling distressed property can be stressful. Our goal is to ease that burden on the seller by handling the paperwork and providing you with a simple process for a cash sale that starts with a phone call.

We work with families facing complex financial situations due to inheritances, hoarding, liens, divorce disputes, and much more. Our compassionate and knowledgeable team can offer you cash for your home and close within weeks. Call us at (407) 338-4183 for a no-obligation consultation to get started.

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Meli is a homebuyer, brokerage, and consultant. The core of what we represent has not changed: we still buy and list distressed properties, but we now focus on helping homeowners of properties with liens, probates, and title issues.

We made the decision to focus specifically on these categories because we realized that the majority of our clients are struggling with these problems. Instead of serving solely a homebuyer, we are now offering brokerage services! We can help you with your probate property, get you through probate easily and stress-free, then list and sell your home for top dollar on the open market. We are now giving you, the client, more options to allow for a better experience.

Why Meli?

Meli was named after the word “ameliorate,” which means to make something better.

We found this very relevant to the solution-oriented service we provide to our clients. We always strive to fix your home’s problems in a stress-free manner. When dealing with liens, probates, or title issues, we find that a person may deal with these situations once or twice in their life, so they can become very overwhelming.

But, with a quick consultation from Meli, we can help you on a clear path forward. Whether we buy your home, list it for you, or just act as a consultant we will find the best solution for you!

What Clients are Saying :

“Evan literally is a lifesaver! He helped us with a very tough situation when other realtors said they couldn’t! He helped us when we thought there was no hope. Evan was such a blessing and we will always use him in the future!” – Aaron R., Ocoee, FL

“After the loss of a family member, the last thing you want is to deal with the headache of probate and selling their home. Evan helped with every aspect of this process. I highly recommend using him and his company.” – Becky S., Orlando, FL

“Everything went smoothly and exactly like Evan said it would. I would absolutely recommend Meli to anyone who finds themselves in a tough situation with their property.” – Noel S., Casselberry, FL

Meli is Making Home Sales Better

You need to partner with a reputable home expert with the knowledge necessary to solve your home’s problems. Not all companies can handle these situations with the sensitivity they deserve. 

Meli knows that every home is different, and we work hard to find your best option. We have a streamlined process that takes care of the difficult, behind-the-scenes work for you. Start with a no-obligation phone consultation and schedule a walk-through so we can get the information we need to find the best solution for you and your home.

We’re happy to chat and see if we’re a good fit for you. Call us today at (407) 338-4183 or request a consultation to give us some basic information and schedule your walk-through.

Homes are a major investment for families, but they can also be a source of financial stress. The costs associated with owning the home can balloon well beyond what you originally budgeted. This is especially true once repairs or homeowner’s association (HOA) fees become a factor.

If your financial situation changes for the worse due to various reasons, it’s easy to fall behind on payments. This is the point your creditor may place a lien on your home.

Can you sell a house with a lien on it? In many cases, you can. However, you will need to find a buyer who is willing to take on dealing with the lien.

Lien Basics

A lien occurs when a creditor or institution you owe money to decides to establish a partial claim to something you own. This can occur with your car, home, or other large property. In cases with large debts, you may be subjected to a general lien that covers all your assets and income.

A lien strictly limits what you can do with the property, and the debts associated with it may also severely affect your credit score. In other words, you may be stuck with little ability to sell the property until existing debts are paid.

Foreclosure is a separate issue from a lien since a lien cannot technically force you out of your home. However, debts that pile up and begin to affect your ability to make mortgage payments could lead to eventual foreclosure.

Keep in mind that a lien comes with legal documentation that must be filed with the appropriate county or local authorities. It usually occurs after other attempts to collect the debt have been exhausted. Both establishing a lien and clearing it takes some time in the courts. 

Although most creditors who place liens are traditional lenders, municipal governments, and HOAs, anyone you legally owe money to can place a lien on your home as well. Failure to pay property taxes, federal income taxes, or HOA fees are a common source of liens since foreclosure is not an option in these cases.

Can You Sell a House With a Lien on it?

If you’re asking, “can I sell my house with a tax lien?” the good news is that you can, but it complicates the sales process. The primary purpose of a lien is to prevent a sale so that the seller can’t take the profit and disappear, leaving their debts unpaid. The creditor who has the lien will lay claim to at least a portion of the home’s sale price.

You also have the option to pay off the debt associated with the lien using a bond or other loan. However, securing this can be difficult if your credit score has already suffered due to the existing debt. Plus, taking out another bond or loan perpetuates the cycle of debt you’re in.

To make matters worse, sorting out the legalities of who is owed can take time if there are multiple creditors. If you believe the lien is legally invalid, challenging it in court may take months or even years. Since liens don’t usually expire for ten years, most homeowners can’t afford to wait for a lien to disappear.

Who Should You Sell To?

Traditional buyers are unlikely to want a home with a lien. If they are first-time homebuyers, their realtor will likely inform them of the time and hassle associated with clearing liens from a property.

Even if a buyer really wants your home, they may not have the luxury of time to wait around. Clearing a lien for a traditional sale may take months, and if the buyer needs to move in sooner than that, the home might not be an option for them.

A company specializing in buying distressed homes for cash is often your best option when selling a home with a lien. Distressed home buyers can cut through the red tape fast and have the financial assets to pay off the lien. In many cases, they will often negotiate with the creditor to lessen the amount of the lien and make it less risky.

A cash home buyer like Meli can close on your home quickly, even if there is a lien. We are used to buying homes as-is and can make you an offer after just a walkthrough. You can avoid the hassle of waiting for mortgage approvals from a lender and maximize your profit from the sale since you won’t need to pay commission to a real estate agent. This makes cash buyers the best option for homeowners who need to get paid and unload the home quickly. 

Partnering With Meli

You need to partner with a reputable home buyer with the knowledge necessary to take your home off your hands, even if it has liens on it. Not all homebuyers can handle these situations with the sensitivity they deserve. 

Meli knows that every home situation is different, and we put the time and energy into giving you the best deal on a tight turnaround. We have a streamlined process that cuts out middlemen and takes care of the difficult behind-the-scenes work for you. Our process usually starts with a no-obligation phone consultation and schedule a walkthrough to get the information we need to make you an offer, usually on the same day.

We typically close sales within 30 days, and in many cases, can even close in 1-2 weeks. We know that the finances of moving can be messy, so we work hard to provide a seamless experience.

We’re happy to chat and see if your home is a good fit for us. Call us today at (407) 305-5008 to give us some basic information and schedule a walkthrough.

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Sometimes circumstances require a homeowner to sell their house as quickly as possible without investing in repairs or upgrades. Whether you’re dealing with a divorce, facing foreclosure, or if you’re looking to pay back creditors by selling a home in probate, it’s often more practical to sell the house in its current condition as a distressed property.

What is a Distressed Property?

A distressed property is a property that is at risk of foreclosure or already is. Most of the time, a property becomes distressed when the owner cannot continue to make payments on the mortgage. This could be due to financial issues or unforeseeable life circumstances.

Property is also considered distressed when a buyer owes more on their mortgage than the home is worth. This is known as an underwater mortgage. That puts the homeowner in the undesirable position of paying down a home that has little to no equity.

If you find yourself in foreclosure or struggling with an underwater mortgage, consider selling your home as-is to a cash home buyer. Selling helps to relieve your financial stress and take the pressure off your situation.

How to Sell a House As-Is

If you are wondering how to sell a house in as-is condition, there are a few things to consider. One option is to list the property yourself. Selling the property independently requires time, research, and further interactions with inspectors and banks. It may also mean you pay for minor repairs or accept a low offer. Another option is to work with a cash home buyer specializing in buying homes in as-is conditions. 

Listing the Property Yourself

If you list the property yourself, there are several details to consider during the process. These include: 

• Listing the home in “as-is” condition and preparing yourself to receive low offers
• Performing a pre-inspection and disclosing everything found during the inspection
• Spending money on high-priority issues like repairing a furnace, addressing mold or water damage, or replacing the roof
• Spending money on cosmetic fixes like paint, carpet, caulking, light or sink fixtures, or replacing burnt-out bulbs

In addition to spending the extra money to repair elements that may cause a safety concern for potential buyers, if you list the property yourself, you need to think about how to attract buyers with your listing in order to sell your home. This is tricky as you want to highlight the positive aspects of the property without misleading buyers. 

To create a marketable listing, bring attention to the best features of your property, such as its location, floor plan, and lot size. Make sure to price your home appropriately by researching the recent selling price of similar homes in the area. Finally, use exciting, relevant keywords in your listing that represent your home accurately and attract buyers. 

Using a Real Estate Agent

Another option when selling a distressed home is to work with a real estate agent. Real estate agents are experts in preparing a home for buyers and can offer you helpful advice on how to get the highest offer, which can be challenging for a home that is visibly in need of repairs or an update. They’ll be able to help you stage the home to maximize its appeal and highlight the best features the property has to offer. However, real estate agents charge a commission for their services, which cuts into your profit on the sale of your distressed home. 

Working With a Cash Home Buyer

If you choose to work with a cash home buyer, the process of selling your distressed home is much more straightforward. In a few easy steps, you can sell your home quickly with minimal effort on your part. 

First, reach out to a reputable cash buyer. They will speak to you about how the process works and ask you about your property. If you decide to move forward, the cash buyer will give you an estimate and schedule a walkthrough of your home. During the walkthrough, the buyer assesses the home’s value and makes you a fair offer within a few hours of the visit. 

You get to review the offer under no obligation, and if you decide to move forward with the sale, the cash home buyer takes care of all the closing paperwork for you. The cash buyer works on their end to ensure that the sale goes smoothly and at a pace that you are happy with.

Why Consider a Cash Home Buyer?

If you’re selling a house in poor condition, it’s worth considering a cash home buyer like Meli Homes. While there are several scenarios where it might be possible to sell your home on the open market without carrying out repairs, like a hot real estate market, most of the time, a traditional buyer or their lender will require a professional home inspection as a condition of sale. Any non-visible issues that these inspections turn up will likely need fixing at your expense before the closing date. 

When your home is distressed and is visibly in need of repairs or an update, it can be challenging to find a regular buyer who’s willing to pay your asking price without any of these renovations. However, a cash home buyer can take an unwanted property off your hands quickly without you investing thousands of dollars in inspections or repairs. 

By selling to a company like Meli that purchases homes in “as-is” condition in Lakeland, Daytona, Cocoa Beach, and other central Florida cities, you alleviate the stress and hassle of showing your home and negotiating with buyers.

At Meli Homes, 85% of our deals close within 30 days from the time you receive our quote. If you’re looking to unload a property quickly without putting any money into it first, a cash home buyer company may be a great option for your circumstances. Meli even works with you to resolve tax liens, and you don’t need to worry about real estate commission or other hidden fees. 

Work With Meli Homes

If you’re a Florida homeowner looking to sell your home in as-is condition, Meli is the solution. To learn more about the process, or to get started, give us a call at (407) 338-4183 or fill out our online form. You can expect to hear back from a representative within 24 hours. 

This article is meant for informational purposes only. This 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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On the day they buy their home, no homeowner envisions themselves in a position where they’re facing foreclosure. But, an unexpected job loss or economic downturn can result in this unfortunate scenario. A home may undergo foreclosure if the mortgage lender exercises their right to sell a property that the buyer has neglected their payments on.

If you’re dealing with the process of foreclosure on your home, there’s still a chance to sell it. You have up until the lender makes a sale at auction or the bank takes possession of the house.

Foreclosure can be devastating for homeowners who have fallen behind on their mortgage payments due to financial troubles. However, there is a way to turn things around despite this seemingly stressful situation. The entire foreclosure process may take six months to a year to complete after you receive your default notice. So if you’re wondering, “can I sell my home if it is in foreclosure,” the answer is a resounding yes. 

What is a Short Sale?

If your Florida home is in foreclosure or pre-foreclosure, you still have a shot at a short sale up to the point that your lender sells the house at auction. When your home is in this position, it becomes a distressed property, so you must sell quickly. A short sale is a quick process in which a homeowner sells the property for less than the mortgage amount, effectively avoiding foreclosure. 

The Benefits of Selling During Foreclosure

The answer to “can I sell my home if it is in foreclosure” is yes, if you use a short sale. While this isn’t the ideal scenario, it’s a better outcome for a homeowner than foreclosure. A short sale is still likely to damage your credit score, but not as severely as a foreclosure will. It allows the lender to recover part of the mortgage loan rather than completely absorbing the cost making it beneficial to them as well. 

The most significant benefit of a short sale is that it prevents foreclosure. While this is good for both the lender and the homeowner, it also benefits the housing market. Foreclosure negatively impacts the market by decreasing the value of homes. 

This legal process affects not only the value of the property in foreclosure but also those close to that property. In part, this is due to a lack of maintenance on homes that foreclose, which can affect the aesthetic of a neighborhood. Short sale further benefits the housing market by making it easier for first-time homebuyers to break into the market with reduced housing prices. 

A big part of a short sale’s appeal is that it helps the homeowner take back control. While the rapid pace of the process can still be stressful and unconventional, a short sale more closely resembles the traditional home sale process than a foreclosure, which involves legal action. The homeowner has an active role in the sale process, managing negotiations with the buyer, the real estate agent, and the bank. In contrast, the homeowner must deal with the bank’s attorneys on their terms during a foreclosure. 

Opting for a short sale rather than riding out your foreclosure leaves you in a much better position. You can avoid legal proceedings and reduce your debt, making it easier to repair your credit score down the line. Short sale offers homeowners in a tough spot a chance at rebuilding. 

How to Sell Your House Before Foreclosure

After you determine the appropriate value of your home, it’s time to list it. You have three options for selling your house before foreclosure: 

• List it Yourself

If the housing market in your area is hot and your home is in excellent condition, you can consider listing the property yourself. However, this requires a lot of effort on your part to organize open houses on short notice and advertise the listing. It also means handling legal paperwork yourself. 

• Use a real estate agent

For homes that are not open house ready, or if you’re feeling overwhelmed by your situation, it’s worth getting a real estate agent on board to help you list and sell the property. The downside to this option is that real estate agents work on commission, so once you sell, they’ll take a cut of the sale price. Since you’re already taking a financial hit with a short sale, this can be less than ideal. 

• Use a cash buyer

When you’re trying to sell a home quickly before foreclosure, a cash buyer is a great option. Like Meli Homes, cash home buyers are prepared to pay cash for your home upfront without taking any commission. This is a quick and easy process that can help maximize the return on your financial investment. 

A Cash Home Buyer is the Quickest Way to Sell

When you’re trying to sell your home before foreclosure, speed is a critical factor; it’s a race to sell. Opting for a cash home buyer can help ensure you sell quickly and with no hassle. The process of using a cash buyer can take 30 days or less, which is ideal for this tight timeline. 

As with any viewing for a potential buyer, you should prepare your home for a cash buyer walkthrough in advance. Where possible, stage the rooms to maximize their appeal and remove personal clutter around the house. Presenting a tidy, move-in-ready property is a great way to get top dollar. 

When you’re ready to show the house in St Cloud, Winter Park, or Tampa and the surrounding areas, contact Meli Homes to set up a walkthrough. 

Following a walkthrough of your home, Meli sends you an offer to review. If you decide to accept, Meli handles all the closing and legal fees and provides your payment in cash. You can then pay your lender and move on to the next chapter of your life. 

Sell Today With Meli Homes

Meli is a cash home buyer that offers a stress-free solution to homeowners who need to sell a distressed property before foreclosure. If you’re dealing with a foreclosure, consider contacting Meli Homes to buy your home quickly for cash.

Call us today at (407) 338-4183 or fill out our online form to request a callback. We will get back to you within 24 hours to schedule a walkthrough of your property, make a cash offer and help you get your life back on track.  

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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Homeownership is an exciting life milestone. Often, people are shopping for their dream home, the place where they will live out their days. When a homeowner passes away, the house might pass to another individual through various means, depending on the estate planning and instructions left by the deceased person. But if there are no legal documents like a quitclaim deed or living trust to abide by, a home automatically enters the probate process. 

What is Probate?

Probate is a court-supervised process of authenticating the last will and testament of a deceased individual. After determining the value of a person’s assets, they can be distributed to the appropriate beneficiaries. 

For estates, it refers to the legal process through which a property transfers ownership after a homeowner’s death. If the decedent never made specific arrangements (such as a living trust) to avoid the probate process, then it must be enacted for the beneficiaries to receive the property. The presence of a legal will has no bearing on whether an estate enters probate. If the person left a last will and testament behind, the probate process includes reviewing the document. 

But what is probate when selling a house? If the deceased leaves no will or doesn’t designate a beneficiary, the estate administrator or executor must sell the home. Where no executor or administrator is specified in the will (or lack thereof), the court will appoint one. 

Florida Probate Law

The probate process of administering an estate varies by state. Under Florida law, there are two types of probate administration: formal and summary. Note that a property is only a probate asset only if the deed is titled in the decedent’s name. When joint tenants with survivorship rights or the deed are shared with a spouse, the property is not a probate asset because the ownership passes automatically. 

A probate estate process in Florida must be open for a minimum of three months for a creditor claim period. It’s reasonable to expect the estate probate process to take anywhere from five to six months. The length of the process depends on whether the estate goes through a formal or summary administration probate. While formal probate administration takes longer and generally costs more, it can be used for any estate and requires a personal representative to be appointed. 

Summary administration probates are often quicker, which may be valuable if the executor must sell the home to pay creditors. However, an estate is only eligible for summary administration when the decedent’s probate assets are valued at less than $75,000 or if the person has been deceased for more than two years. 

Selling a House in Probate

When a house enters probate because there is no will or designated beneficiary, the court will appoint an executor or estate administrator to handle selling the property. Selling a house in probate is not the same as a regular home sale, and it’s a good idea to involve an attorney who specializes in estate law to guide you through the process if you’re unfamiliar. 

Since an executor or estate administrator doesn’t own the home, they require court approval to sign over the deed at the time of sale. The probate process can slow down a deal because of the legal checkpoints you need to pass along the way, which can sometimes deter typical homebuyers. When a buyer becomes interested, you must inform them that you need court confirmation to complete the sale. Then you have to petition the probate court for an Order Authorizing the Sale of Real Property. 

If there are beneficiaries of the estate, you must obtain their consent before proceeding. The court will then look over all the relevant documentation and grant approval for the property sale to the interested buyer. 

As an executor, you might consider seeking a cash buyer since a home in probate is considered a distressed property. A cash home buyer can offer a quicker, hassle-free transaction without additional fees.

The Benefits of Selling to a Cash Home Buyer

When you’re trying to sell quickly or sell a distressed property, a homebuyer like Meli can be a fantastic option. They offer several advantages such as:

• Lower financial risk 
• No involvement of a financing institution 
• Sales usually occur as-is with no requests for upgrades or home repairs 

Selling to a cash buyer also means there are no additional fees like the commission you’d pay a real estate agent that’s helping you bring in traditional buyers. When you’re selling a house in probate, it’s common that most of the money will go toward paying off the decedent’s mortgage lender or other creditors. So while you might accept a slightly lower offer from a cash buyer, especially with a distressed home, you’re saving money on commission costs, bank fees, home inspections, and repair costs.

Contact Meli Homes

If you have to sell a property in probate, get in touch with Meli. We can work with you to close quickly, typically within 30 days, and pay the full price in cash to cut out the complexities of a lending institution. 

If you’re located in Orlando, Tampa, or surrounding Florida areas, give us a call at (407) 338-4183 to get started. We will get back to you within 24 hours to request some information about the property, including:

• The home’s address 
• Photos of the home’s exterior 
• Additional information relevant to our offer (title claims, inheritance claims, etc.)

Then we can schedule a date and time to view the property. After a walkthrough of the house, you’ll receive an offer to review with no obligation. If you decide to move forward with the sale and sign the contract, we pay in cash. 

On average, Meli Homes saves Floridians $3,000 in legal fees and 22 days in the selling process. If you need a quick sale on a home in probate, contact us today. 

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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A cash home buyer is a person or a company, like Meli Homes, that has the financial capability to purchase your home without a mortgage in cash. However, when referring to a cash home buyer, the cash is figurative and simply means that the buyer has the money outright and does not require a loan. It doesn’t mean they’re going to hand you a wad of cash, as this can create complications. 

If you’re selling a distressed home, a home in probate, or a home in pre-foreclosure, cash buyers are often a fantastic and fast solution. 

The Benefits of a Cash Home Buyer

What are the benefits of a cash home buyer? There are several scenarios where selling your home quickly is the ideal option. This is especially true with a distressed property in need of repair, if you’re facing foreclosure or if you’re an executor selling a home in probate to pay back creditors. A cash home buyer:

• Allows you to avoid extra fees

With a cash buyer, you can avoid paying out extra fees to retain more of the amount they offer you. When you work with a real estate agent, a percentage of the final sale price will go to the agent as their commission. 

• Offers a low-risk sale option

Because there’s no mortgage lender involved in a cash home sale, the risk to the seller is extremely low. Most of the time, when home deals fall through, it’s because of a problem with the loan funds. 

• Means no appraisal process from a mortgage lender

Using a cash home buyer usually means a much quicker closing time because it avoids many steps in the traditional home-buying process. With a cash buyer, there’s no need to wait for a lender to appraise the value of your property or request an inspection at your expense before closing. 

• Puts less stress on the homeowner because the home usually sells “as-is”

When you’re selling a distressed property, this often means that the house needs repairs. With a cash home buyer, you can avoid the time and funds it takes to carry out these repairs because the buyer purchases the home in its current condition. 

• Allows you to avoid marketing the property or staging it for multiple showings

The process of working with a cash home buyer is much simpler than preparing your home for traditional buyers. Your cash buyer schedules a single walkthrough of the home before making an offer. This means you don’t need to worry about listing your property on multiple sites or organizing open houses. 

• Is often quicker because there’s no waiting on third-party funds or approval 

Without the involvement of a third-party lender, nothing is holding up the sale and preventing you from closing as soon as you accept the cash offer from your buyer. This is one of the critical reasons that working with a cash home buyer accelerates the timeline for your sale. 

• Means no negotiations

If you hate the back and forth of receiving offers and returning a counter-offer, then the ease of a cash home buyer is extremely appealing. After a walkthrough, a cash buyer like Meli sends you a firm offer to review with no obligation. You can take your time reviewing the amount and then simply decide whether you want to accept it and close. 

On top of all these benefits, a reputable cash buyer handles all the legal processing and closing paperwork for you once you’ve accepted their cash offer. This lowers your legal fees and takes some of the stress out of the closing process because the volume of paperwork that needs signing can be overwhelming. Avoiding this stress is appealing to sellers, especially if you’re already dealing with a divorce or foreclosure that is forcing you to sell the home. 

Where to Find a Reputable Cash Home Buyer

Florida cash home buyers might be individuals or a company like Meli Homes. The list of potential buyers includes:

• Real estate investors looking to flip or rent a property 
• Retirees looking to buy a home outright and not pay a mortgage 
• Homeowners who have recently sold a house and need to invest the profits 
• Companies like Meli that buy your home for cash as-is

Working with a professional cash home buyer is one of the simplest and quickest ways to sell your home. The benefit of going with an established company for your cash buyer is that you can vet their reputation and have confidence that the deal is low-risk before you invest more of your valuable time in the process. 

How Meli Works

As an experienced Florida cash home buyer, Meli Homes is well equipped to help you sell your home in 30 days or less, from the time you receive our quote to closing. The process is straightforward and stress-free for you, the seller, which is ideal in many short-sale situations. 

You’ll start by calling, texting, or filling out our online form. We’ll get back to you within 24 hours to discuss details about your home and request photos of the property. The next step is to schedule a date and time for a property walkthrough with one of our representatives. 

Following the viewing, you’ll receive our firm offer, usually on the same day. The offer comes with no obligation, and you can take your time reviewing it. If you decide to accept, we’ll pay in full with no hidden costs, and we take care of the closing paperwork for you. 

Get In Touch With Meli Homes

If you are a homeowner facing foreclosure, dealing with a divorce, or an executor with a house in probate, Meli Homes is the buyer. When a quick sale is what you’re after, skip the open houses and get in touch with a reputable cash buyer serving Orlando, Tampa, and the surrounding areas.

85% of our 24-hour deals close within 30 days, and we save Floridians an average of $3,000 in legal fees. Call us today at (407) 338-4183 or fill out our online form to learn more or get started on selling your home.  

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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