I Have No Equity, But I Need to Sell My House — What Can I Do?

First Step- Give us a call or send us a text and we can help.

Let's find out how much you home is worth in it's current condition to see where we are at. If it turns out, there is not enough equity to pay for closing costs and the home is worth less than you owe, we do have positive news. For more than 25 years we have helped individuals in similar circumstances sell their homes and your lender will pay your closing costs including our fees and commission. So zero out of pocket costs for you, you get experienced representation and negotiation, and you can get rid of your non performing asset.

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What Can You Do If You Have No Equity and Need to Sell Your Property?

You need to sell your house.

Maybe the mortgage payment has become too expensive. Maybe you need to relocate. Your income may have changed, a loan modification may not have solved the problem, or you may simply own a house that no longer makes financial sense to keep.

There's just one problem:

You don't think you have enough equity to sell.

If that's where you are right now, don't assume you're stuck.

You may have options — and you don't need to figure them all out before asking for help.

Call me. We'll start by looking at where you are today and work through the next steps together.

First, Let's Find Out Where You Really Stand

Many homeowners tell me they have "no equity" before they actually know what their numbers look like.

Online home values can be inaccurate. Mortgage balances change. Selling costs vary. And sometimes homeowners are closer to being able to sell than they realize.

Other times, the numbers confirm exactly what they suspected: there isn't enough equity to complete a traditional sale without bringing money to closing.

Either way, knowing is better than wondering.

We can start with a few basic questions:

What is your home realistically worth in today's market?
Approximately how much do you owe?
Are there additional liens or loans against the property?
Are you current or behind on the mortgage?
Is there a foreclosure timeline we need to consider?
Why do you need or want to sell?
How quickly do you need something to change?

You don't need to have perfect answers before contacting me.

We just need a place to start.

COMPLETE THE FORM BELOW

Do I Need Money to Sell a House With No Equity?

Not necessarily.

If the property can sell for enough to pay the mortgage, liens and costs associated with the sale, a traditional sale may still be possible even if your equity is limited.

If there isn't enough money available from the sale to cover everything, we can look at what the actual shortage would be.

And if the amount you owe exceeds what the property can reasonably sell for, a short sale may be an option.

The important thing is not to make assumptions before we know the numbers.

I've worked with California homeowners in complicated selling situations for many years. Sometimes the solution is relatively simple. Other times, we need to communicate with the lender, obtain authorization, assemble documentation and work through a formal short sale approval process.

You don't need to know which situation you're in before you call me.

That's something we can determine together.

What If I Owe More Than My House Is Worth?

Owing more than the current market value doesn't automatically mean you cannot sell.

A short sale is a transaction in which the mortgage lender agrees to consider accepting less than the full amount owed so the property can be sold.

Lender approval is required, and every situation is different.

This is also where experience matters.

A short sale isn't simply putting a property on the MLS and hoping everything works out. There may be lender requirements, documentation, valuations, deadlines, buyer negotiations and approval conditions that have to be managed throughout the transaction.

If a short sale appears to be the appropriate direction, I can explain the process and help you understand what would happen next.

What If I'm Already Behind on My Mortgage?

Then timing becomes more important.

Being behind doesn't necessarily mean you've lost the opportunity to sell. But if your lender has started the foreclosure process, there may be deadlines that affect the options available to you.

This isn't the time to avoid opening the mail or put off finding out what's happening.

It's also not a reason to panic.

It's a reason to take one step.

Call me.

Tell me what you've received from the lender and what's happening with the property.

If I need authorization to communicate with your lender or obtain additional information, we'll handle that next.

One step leads to the next one.

You do not have to solve the entire situation today.

What If I'm Current on My Mortgage but Know I Can't Keep Doing This?

You don't have to wait until you've missed payments to start looking at your options.

In fact, recognizing that a house has become unaffordable before the situation becomes an emergency can give you more time to make decisions.

Maybe your payment increased.

Maybe insurance, HOA dues, taxes or other expenses have made ownership much more expensive.

Maybe your income changed.

Or perhaps you've simply reached the point where continuing to put money into the property doesn't make sense anymore.

You are allowed to look at the numbers and decide whether keeping the house is still the right decision for you.

What If I Already Tried a Loan Modification?

A loan modification can help some homeowners, but it doesn't always create a permanent solution.

Your financial circumstances may have changed again. The modified payment may still be difficult to afford. Or you may have completed a modification only to realize that keeping the property no longer makes sense.

A previous loan modification does not mean you shouldn't explore selling.

We'll look at where things stand now.

Please Don't Wait Because You're Embarrassed

I've talked with homeowners in just about every kind of property situation.

Missed payments.

No equity.

Failed loan modifications.

Foreclosure notices.

Properties needing major repairs.

Homes filled with belongings.

Rental properties that stopped making financial sense.

Life happens.

You do not need to clean up the situation before you call me.

You call me because there is a situation.

My job isn't to judge how you got here.

My job is to help you understand what can happen next.

You Don't Have to Decide to List Your House Before Calling Me

This is important.

Calling me does not mean you've committed to selling your house.

You may simply need answers.

That's fine.

We'll talk about what's happening, what you're trying to accomplish and what the numbers look like. If selling appears to make sense, I can explain what would need to happen.

If there are different options worth considering, we'll talk about those too.

I would much rather have you call while you're still asking questions than wait until the situation has become more urgent because you thought you needed to have everything figured out first.

You don't.

Take One Step Today

When a property problem has been hanging over you for weeks or months, it's easy to feel as though you need to solve everything at once.

You don't.

Take one step.

Call me and tell me what's happening.

We'll start there.

Once we understand the property value, mortgage balance, timing and circumstances surrounding the sale, we can determine what the next step should be.

And then we'll take that one.

Let's Find Out What Your Options Are

If you own a California home with little or no equity and need to sell, contact me for a confidential conversation about your situation.

You don't need to know whether you need a traditional sale or a short sale.

You don't need to know exactly what your house is worth.

You don't need to know what paperwork the lender will require.

And you don't have to know how this is going to turn out before making the call.

That's where I come in.

Tell me where you are today, and we'll work on the next step together.

Complete the options form on this page and a Real Estate Specialist experienced in handling properties with little or no equity will get back to you ASAP. If your're browsing duting business hours and need immediate solutions, call or text our broker -Dawn Anderson 714-932-2746- she will be happy to help.

Serving California homeowners facing difficult, complicated and changing real estate situations.

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