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How to Successfully Sell Your Home During the Covid-19 Crisis
The COVID-19 pandemic has had a significant impact on the real estate industry, particularly for sellers who are unable to sell their homes.
One of the biggest challenges facing sellers is the decrease in demand for buyers.
What has Changed?
#1 Inflated Prices
One of the major changes in the industry has been buyers overpaying for properties. With limited inventory and high demand, buyers are willing to pay more than the asking price to secure a home. This has created a bidding war among buyers, leading to artificially inflated prices. As a result, sellers are able to sell their homes at a much higher price than they initially expected, but this also creates confusion for sellers on what the accurate value of their home truly is.
#2 High Interest Mortgages
Potential buyers have been financially impacted either through job loss or reduced income. As a result, they are less likely to qualify for a mortgage or may be more hesitant to take on significant debt during such uncertain times. This has significantly decreased the pool of potential buyers, making it more difficult for sellers to find suitable buyers for their homes.
#3 High Rent
One major change seen in the real estate industry is the steady increase in rent prices. As supply of available rental properties remains relatively low while demand continues to rise, landlords have been able to increase rental rates. This has made it more challenging for potential buyers to save up for a down payment and enter the housing market, thus prolonging their renting period.
What makes us the better option for you? Solving the problem....
Purchasing your property alternatively, allows us to overpay for your asset. This may seem counterintuitive, but highly effective in decreasing Connecticut housing shortage and foreclosure rate.
Moreover, by agreeing to take over your financial obligations, the seller avoids having to await the traditional mortgage approval process from a buyer, saving time, money, setbacks or complications.
After we've purchased your property.
Our company speeds up the process of becoming a homeowner, by removing the need for a traditional bank mortgage. Rather than keep the demanding rental market alive, we empower individuals to achieve their dream of homeownership through our rent-to-own programs.
By opting to sell your property through our alternative purchase program instead of traditional methods, you not only secure a profitable sale, but also provide the opportunity for someone who may not be able to secure financing through a bank to become a homeowner. This not only benefits you, but also helps boost our economy.
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