Category: Sell Your House

One of the most significant assets that someone will ever own is their home. While some people may choose to sell their home at some point in their lives, others will continue to hold onto it and can eventually pass it down to the next generation. If you have inherited a home, determining what to do with it is very important. One common option is to sell the home, which will allow you to avoid various costs and responsibilities that can come with owning an additional property. If you do want to sell an inherited property, there are various tips to follow.

Get the Title Transferred

If you want to sell an inherited home, one of the most important steps to follow is to have the title transferred into your name or the name of a trust. If you are selling a home for a parent that has passed it on to you, the parent’s name will continue to be on the home until the title is transferred properly. This can be done a number of ways, including through living trusts, probate, and other processes. Until title is transferred, you will not have the legal right to sell the inherited home.

Check Debts on the Home

When you are going to sell an inherited home, you will also want to ensure you know about any debts that are outstanding against the home. If the home has an outstanding mortgage, home equity line of credit, or other types of liens, all of the debts will need to be paid off in full along with the sale. If you hire a legal team, they will be able to help you identify whether there are any debts outstanding through the title process. The debts can then be paid off with proceeds from the sale. If you do not sell the home right away, it is important to ensure payments continue to be made, as a lender could start the foreclosure process otherwise.

Know the Tax Impact

If you inherit a home or any other large assets, there is always a chance that you could face a tax liability. It is important that you check with an accountant or lawyer to determine exactly what your liability will be. If you do sell the home, you should put as much of the sale proceeds into savings as possible and conservatively estimate a future tax liability, which can include capital gains or estate taxes. This will help ensure you are not surprised about a big tax bill at the end of the year.

Look to Sell the Home Quickly

If you have inherited a home, you may also want to sell your house fast. Not only will you be excited to liquidate the equity in the home, but selling your home quickly can also help you avoid costs that come along with simply owning the property, such as property taxes, insurance, and maintenance. When you want to sell your house in the Omaha area fast, a great company to call is the team at Beard Bros Buy Houses Cash.

At Beard Bros Buy Houses Cash, we buy houses quickly and can close for cash. The process of selling your home to Beard Bros Buy Houses Cash is simple. We will come to your home and complete a full inspection and assessment. Based on this, we can make an all-cash offer that would allow you to close in a matter of weeks. This can also help you avoid some significant real estate transaction costs, such as realtor commissions, legal fees, and other closing costs. Give us a call or fill out our online form to find out more.

Owning a home offers a variety of benefits, but it also comes with many responsibilities. At some point, you may become tired of all the additional expenses and upkeep and decide that it’s time to sell. Here is a look at some of the reasons you might consider selling your home.

Downsize and Move Somewhere More Affordable

As you get older, you may decide that you don’t need as much space as you once did. Maybe your kids have grown up and left the house. Or perhaps you want a smaller space so you don’t have to walk as far to get to the bedroom or bathroom. Downsizing to find a more manageable space is a great reason to consider selling your home. You’ll not only make your life easier, but you could also save some money by finding a more affordable place. You may decide to move into a condo instead of a single-family home or move to an entirely different city or state where the cost of living is cheaper. Either way, living a more frugal lifestyle is a great reason to consider selling your home.

The Market Is at Record Highs

Another reason to consider selling is that home prices are currently at record highs. Home prices rose a record 18.8% in 2021, and the demand for homes is still very high. But with the Federal Reserve intent on raising interest rates to curb the effects of inflation, that demand may begin to cool off. While there may not be an outright crash, it seems like this unprecedented growth won’t continue forever — which makes right now the perfect time to sell your home. Real estate values tend to appreciate in the long run, so you shouldn’t rush if you aren’t quite sure. But if you’re debating whether to sell your home now or wait another year or two, you may want to make a move sooner rather than later.

You’re Tired of the Upkeep

Owning a home isn’t just a significant financial responsibility. It also requires a lot of physical work, and keeping up with the maintenance can take its toll. Unless you can afford to hire an entire maintenance staff or live in a community where upkeep is included, you may have to handle a fair amount of the landscaping and repair work yourself. While this may be a fun weekend project, it may grow tiresome as you get older. So rather than letting the property’s condition suffer and impact the resale value, you may consider selling first.

Change of Scenery

Perhaps you’re getting tired of the neighborhood and need a change of scenery. While owning a home provides stability, it can also keep you tethered to a particular place. Maybe you want to do a bit of traveling or simply want to move closer to your family. Or perhaps the neighborhood has started to decline since you first moved in. Whatever the reason, wanting a change of scenery is a perfectly valid reason to consider selling your home.

Pay Off Debt

If you get overwhelmed by debt, it may be better to cut your losses and sell your home. It can give you a fresh start and a bit of a reprieve from creditors who are after you for repayment. It may be a tough decision, but it’s often better to be proactive and get in front of the situation than to wait and risk bankruptcy or foreclosure. You will have to find a new place to live, but at least you’ll walk away with your credit intact.

So if you want to sell your house fast, come see us at Beard Bros. We buy houses in all conditions and can often offer a cash offer on the spot. We save you the hassle of renovating, marketing, negotiating, and closing on the property and will make you a fair offer without any commissions or broker fees. So if you live in the Omaha area and want cash for your home, contact us online or give us a call today.

In an ideal world, your rental property would produce positive cash flow and pay you every month. And when you decided to sell it, you’d take home a handsome profit in addition to all the money you’d earned while renting the property out.

But as you likely know, the real estate world is in perpetual flux. Even if you purchase a rental property that starts off with positive cash flow, that doesn’t necessarily mean it’ll continue paying you like clockwork. And although you likely purchased your rental property with high hopes it would appreciate, the market fluctuates constantly. Ultimately, there’s no guarantee you’ll profit or, at the very least, break even on the sale.

If you own a rental property that’s producing negative cash flow and will likely sell for less than you bought it for, our team at Beard Bros Buy Houses Cash is ready to help. Read on to learn about the factors you should consider when determining whether to continue renting the property or sell it at a loss.

When Should You Continue Renting at a Negative Cash Flow?

What might make a negative-cash-flow property worth keeping? If any of the following factors apply to your rental home, it may be in your best interest to hang on to the house and continue renting it out.

The Property Is Poised for a Value Increase

Is your property located in a growing or desirable area? If so, there’s a good chance it’ll increase in value over the coming years. And although you might be losing money now, that doesn’t necessarily mean that trend will continue in the future. Just because your property is producing negative cash flow at present does not mean it was a bad investment.

As your property appreciates, you can raise your rental rate to either break even or make a profit. And ultimately, you may be able to sell the property for a much larger sum than what it’s worth right now.

The Real Estate Market Is Growing

Even if you don’t think your property is in a growing or up-and-coming area, if the real estate market is exploding, location matters less. Why? Because it’s all about supply and demand at that point.

Properties in highly desirable areas will sell first, but when those dry up, buyers and investors will be looking for almost anything they can get their hands on. And as supply dwindles and demand stays high, property prices inevitably increase because so many buyers are vying for the limited number of properties on the market.

If you anticipate growth in the local real estate market in general, it may be in your best interest to continue renting out your negative-cash-flow property until growth spikes. At that point, your rental house will likely experience a surge in value, so you may be able to sell it for a profit rather than a loss.

The Local Rental Market Is Growing

What does the rental demand look like in your area? Are there lots of folks looking for rental homes? Do you anticipate the demand will increase? Then you may want to hold your property and see what happens.

As rental demand goes up, not only will you be able to increase your monthly rental rate, but you’ll also have more interested renters lining up to take a look at your property. Again, negative cash flow today isn’t necessarily indicative of negative cash flow forever.

Pay attention to what your local rental and sale markets are doing and make your decision based on that information. 

When Should You Consider Selling Your Rental at a Loss?

In certain situations, selling a rental property that produces negative cash flow may be in your best interest. If any of the following situations apply to you, it may be time to consider selling.

You Can’t Afford to Take Long-Term Monthly Losses

How much money are you currently losing each month? Can you afford to sustain those losses for the foreseeable future? If not, it’s time to sell.

Generally speaking, you can expect property taxes and maintenance expenses to increase over time. If you can’t afford your current losses, and you don’t anticipate a property value increase in the near future, chances are you can’t afford to continue absorbing growing losses long term.

Your Rental Needs Lots of Work

If you own an older rental property that could use some serious renovations or repairs and can’t afford to take on those expenses, you may want to sell it for a loss. Otherwise, you’ll be stuck with a continually deteriorating home that may experience further decreases in value.

If you hold a property like this, not only might you continue taking a monthly loss, but you might also end up taking a greater loss on the sale when you do choose to sell.

Your Portfolio Needs Diversification

If you have tons of money tied up in a negative-cash-flow rental, and the market suddenly bottoms out, your financial health could be in trouble. If you’re already in a tight spot now, or your investments need more diversification, it may be better to take a loss now than to hang on to the property and potentially take a much greater loss in the future.

The Real Estate Market Is Predicted to Level Off or Crash

If experts are forecasting a rough real estate market in the coming months, you’ll want to get ahead of that as soon as you possibly can. Otherwise, you’ll risk losing even more money than you’re already worried about losing.

Sell Your House Fast With Beard Bros Buy Houses Cash

If you’re interested in selling your Omaha-area home and would like to do so quickly and conveniently, get in touch with our team at Beard Bros Buy Houses Cash! We buy houses throughout the Omaha metro area and will pay you cash at closing. We buy houses in any condition, so no matter how old, ugly, or deteriorated your property is, we’re ready to make you an offer to take it off your hands!

Curious how we can help you sell your house fast? Give us a call today at 402-810-8091 or contact us online to request a no-obligation offer, and we’ll get in touch right away.

If you have plenty of equity in your house and are considering selling, chances are you’re excited about the profit you stand to make. But before you get too enthusiastic about how much you’ll earn from the sale of your home, you’ll need to consider the potential tax implications of the sale so you don’t overestimate your profits.

At Beard Bros Buy Houses Cash, we’re real estate investors, and we buy houses throughout Omaha, Nebraska, and the surrounding areas. We know the process of selling a home can feel overwhelming, and we’re here to help you learn more about what you can expect.

Read on to learn all about the taxes you may need to pay when selling your house.

Do I Pay Taxes on the Profit I Make From Selling My Home?

Whether you’ll need to pay capital gains taxes on the profits from your home sale depends on a few factors:

• The amount of time you’ve owned the home
• The length of time you’ve lived in the home
• The amount of profit you ultimately make
• Whether the house is your primary residence

If you’ve owned and lived in your house for at least two of the last five years, you will not have to pay capital gains tax on up to $250,000 of the profit you make from the sale. If you’re married and file your tax returns jointly, you won’t have to pay taxes on the first $500,000 of your profit.

If your profit from the sale is less than the exemption amount you qualify for, you don’t even have to report the sale of your home on your taxes. However, if your profit exceeds the $250,000 limit for single individuals or the $500,000 limit for married couples who file jointly, you must report the sale of your home on your taxes, and the excess profit is taxable. 

Breaking Down the Profit and Tax Numbers

Let’s illustrate the capital gains tax exclusion with an example. If you bought your house eight years ago for $175,000 and sell it for $700,000 now, you’d profit $525,000 from the sale.

If you’re single, used the home as your primary residence, and lived in it for at least two out of the last five years, you won’t need to pay taxes on $250,000 of that profit. However, you will have to report the sale on your taxes, and the excess profit of $275,000 is taxable since it exceeds the exclusion limit for a single person.

If you’re married, you’re filing jointly, and the same ownership and residence details apply, you won’t have to pay taxes on $500,000 of your $525,000 profit. But you will need to report the sale on your taxes, and the excess $25,000 profit is taxable.

How Do Taxes Work If I Haven’t Owned or Lived in My Home for Two Years?

If you have not owned or lived in your home for at least two of the last five years and decide to sell it, you’ll need to report all of your capital gains from the sale on your taxes. Because you do not meet the criteria to claim a capital gains exclusion, all of the profit will be considered taxable income, and you must pay taxes on it.

How Many Times Can I Use the Capital Gains Tax Break?

Each time you sell a primary residence — for tax purposes, that means a house you live in for at least 183 days out of the year — you can use this tax break. But again, you must have owned and lived in the home for at least two of the last five years.

It’s also important to note that you’re only allowed to claim this tax exclusion if you haven’t claimed it on another property in the previous two years.

Potential Exclusions to the Capital Gains Guidelines

If you don’t meet the criteria to claim the capital gains tax break, you may still be eligible to claim a reduced home sale exclusion, which will save you money on your taxes too. But to qualify for this exclusion, you must meet other criteria.

You may qualify if you must sell your home for any of the following reasons:

• You have to move because your physician recommends that you or another resident of your home change residences for health reasons.
• A member of your household has a medical condition, and you sell your house to get money to pay for their medical care.
• You have to move for a job that’s at least 50 miles from your current residence, and you got your new job while you were living in the home as your primary residence.
• You have to move due to unforeseen circumstances, such as divorce, inability to pay basic living expenses due to job loss, or natural/manmade disasters.

There are a few other situations that may qualify you to claim a reduced home sale exclusion, and you can learn more about them in Nolo’s IRS-Approved Unforeseen Circumstances.

Need to Sell Your House Fast in Omaha, NE?

If you’re looking for the simplest, most streamlined way to sell your Omaha home, get in touch with our team at Beard Bros Buy Houses Cash to get a no-obligation offer! We buy houses in any condition and can have an offer in your hands in as little as 24 hours from the time you contact us. Whether you want to sell your house fast or are looking for a more flexible selling timeline, we can help.

To learn more about our process or to get started, feel free to give us a call today at 402-810-8091 or contact us online, and we’ll get in touch right away.

When you’re living with substantial debt, you may find that paying federal, state, or local taxes isn’t financially feasible. But if you fail to pay your taxes, the government can place a lien on your property — which is a claim against your assets — because you owe a debt.

If you learn you have a tax lien on your home, and you’re looking to sell it, you will not be able to profit from the sale of your house until you satisfy (pay off) the debt you owe. And while it’s possible to sell a house with a tax lien, there are only a few options for doing so. It’s also in your best interest to begin the selling process as soon as possible after you learn of the lien to avoid incurring additional penalties and interest.

 Read on to learn about the handful of ways you can sell your house with a tax lien.

Request a Discharge

If you have a federal tax lien on your property, you can request a certificate of discharge from the Internal Revenue Service. In certain situations, the government will grant a partial release or may allow a discharge, which will release the property, not the lien.

If you’re granted a discharge or partial release, the lien will still be attached to you, and you’ll still owe the tax debt. But because your home is no longer attached to the lien, you can sell it, make a profit, and use that profit to satisfy your tax debt.

Sell Your House on the Open Market

When your house has a lien on it, you can still list it on the market — there’s no rule preventing you from doing so. But before you can pocket a profit from the sale, you must pay off the lien. If you choose to list your home with a realtor, and your house ends up selling, you’ll need to pay the lien amount before the sale can close and your buyer can receive a clear title.

While taking this route seems simple and straightforward at first glance, it has a major potential drawback. When you sell your house with a realtor, you’ll inevitably end up paying about 10% of the final sale price in fees.

Fees Associated With Selling on the Open Market

When you work with an agent, you must pay realtor commissions — which typically amount to 5%–6% of the selling price — and that fee is deducted from the final sale price. You must also pay closing costs and additional fees, which may include a brokerage fee, escrow fee, transfer taxes, title insurance, and others, depending on your situation.

In addition to paying all those fees, you’ll also need to pay back your mortgage in full when you sell the house. Coupled, those expenses can eat up a substantial chunk of your revenue from the sale. After you pay those costs, you may be left with a relatively small profit or no profit at all if you don’t have substantial equity in your home. You’ll then need to use some or all of the profit you make to satisfy the lien before the buyer can get a clear title.

Sell Your House to a Cash Home Buyer

Whether you want to sell your house fast (as in, a few days to a week or two) or you need some time to plan your next move in life, it may be in your best interest to get an offer from a cash home buyer. Cash buyers are almost always real estate investors, so they have the capital on hand to pay you up front — in cash — for your house.

These types of buyers can purchase any house, regardless of what kind of condition it’s in and what it looks like. If your house needs serious repairs and likely wouldn’t sell on the open market, a cash buyer may be your only reasonable option.

When you sell to a cash home buyer, you don’t pay realtor commissions or any additional selling fees. When you get an offer, the number you see on that offer is the amount of cash (not necessarily profit) you’ll get when you sell your as-is home. 

Even with a tax lien on it, a cash home buyer can purchase your house, but the amount of the lien will most likely be included in the offer. Because the lien is attached to the property, the buyer will then satisfy the lien and obtain a clear title after purchasing the home.

We Buy Houses for Cash in Omaha, Nebraska

If you have a tax lien on your Omaha property and are looking to sell your house fast, reach out to our team at Beard Bros Buy Houses Cash today. We buy houses in record time and can make you a cash offer on your house in as little as 24 hours after you call us. In most cases, we can close on the sale of your home in a matter of days.

To request a cash offer or learn more about how we work, give us a call today at 402-810-8091 or contact us online, and we’ll be in touch right away.

Selling a house is no small feat. There are plenty of forms to complete, considerations to ponder, and numbers to crunch. If you want to sell your house fast, start by identifying the best questions to ask about the selling process. We’ve done the work for you below. Here’s a quick look at the top questions to ask when selling your house.

Do I Really Need a Real Estate Agent?

There is no need to rely on a real estate agent to sell your house. Sell your house fast to Beard Bros, and you’ll get a cash offer right away. We buy houses of all shapes, sizes, and types. Whether your home is more than a century old or recently built, in disrepair or in perfect condition, you can sell it without the assistance of a real estate agent. Choose to sell for cash, and it won’t take long to process the paperwork, facilitating a transition to the next chapter in your life without a lengthy wait.

What Disclosures Are Necessary?

Your home’s flaws must be disclosed on a property disclosure form before the deal closes. Be forthright when detailing the problems with the house, and you’ll be able to move forward with the process in full confidence.

Detail the problems with the property’s condition, including potentially dangerous materials, areas that need repair, pending litigation, current litigation, unpaid taxes, and other factors that have the potential to influence buyers.

Will the House Pass Inspection?

Even if you reveal everything that is wrong with the home on the property disclosure sheet, there is the potential that the property will fail inspection. A failed inspection provides the buyer with an opportunity to exit the deal. However, you can also pay for improvements to the house or strike a deal with the prospective buyer that details the repairs or percentage of the repair cost you will pay to move forward with the closing.

Does It Make Sense to Hire a Home Inspector?

If you are worried your house is structurally flawed or dilapidated to the point that it will not pass inspection, it might be in your interest to hire your own inspector before attempting to sell it. An inspector will reveal what is wrong with the house, providing you with a golden opportunity to perform the necessary repairs before putting the house up for sale. Opt to have the property inspected prior to selling, and you’ll be able to move forward in full confidence, knowing the house will pass the inspection performed by the potential buyer.

Is Now the Right Time to Sell?

Take a moment to gauge the pulse of the market. The housing industry is blazing hot at the start of the year. People are taking out massive loans to land their dream home, as well as ranch houses and everything in between. This is the optimal time to sell.

Keep in mind, the market might not be this hot in the financial quarters and years ahead. Add in the fact that seasonality has the potential to alter the value of the property, and there is all the more reason to evaluate whether now is the ideal time to sell. When in doubt, lean toward selling as there is no guarantee home values will plateau or increase moving forward.

How Can I Get the Best Price for the Property?

Take a close look at the entirety of your home from the exterior to the interior. Analyze the yard, the basement, the shed, the roof, and every other component of your property. If there are any glaring flaws, you won’t get top dollar for your home. Stage the house so it looks fantastic on the inside and address superficial blemishes and obvious repairs, and you’ll get top dollar for your property.

Get an Offer From Beard Bros Buy Houses

Are you looking to sell your house fast? We buy houses quickly and for top dollar. So don’t go to the trouble of listing your home with a traditional realtor. Instead, sell your house to us, and you’ll make a seamless transition to your new digs. Contact us today at 402-810-8091 to get a cash offer for your house.

Selling your house is much easier when you are properly prepared. Though your house doesn’t have to be in pristine condition prior to a sale, a little bit of preparatory work will help you maximize its value. Here’s how to prepare your home for sale on the open market.

Eliminate Clutter

Selling your home will be that much easier when you eliminate all the excess. Remove items you no longer use or need, and the interior of the home will look that much more inviting. The bottom line is that clutter throughout your home makes it less welcoming and, subsequently, that much less valuable. Sort your items into piles for selling, recycling, and donating to facilitate a green and profitable decluttering process, and it won’t take long to prepare the space for buyers.

Mind the Exterior

The outside of your house is just as important as the inside in the context of preparing for a sale. Clean up the outside of the house, trim the trees and shrubs, and consider adding a new coat of paint. Even the addition of subtleties such as potted plants and new landscaping have the potential to significantly enhance the aesthetic appeal. Beautify your home’s exterior, and you’ll rest easy knowing you’ve done everything in your power to maximize its value.

Perform a Deep Cleaning

Clean your home’s interior and exterior and it will be that much more marketable to prospective buyers. If you don’t want to perform the cleaning on your own, have a professional do the work on your behalf. Everything from the carpets to the windows and appliances should be cleaned to make the property that much more appealing.

Let the Light In

Open up the blinds and clean the windows to let the sunlight inside. The more natural light that moves into the interior of your home, the more appealing it will be to home buyers. This isn’t to say you have to install new windows that are especially wide. Rather, cleaning your windows and rolling up the blinds so the sunshine can move inside will beautify the interior of your home all the more.

Small Updates Can Make a Big Impact

A couple of minor updates will greatly enhance the look and feel of your house. Focus on important subtleties such as staining the cabinets and painting the walls. Even adding new lighting or a modernized, green appliance will bolster the value of the property all the more. Sweat all the small stuff, make prudent additions that heighten your home’s value, and it will prove that much more appealing to potential buyers.

Don’t Forget the Final Touches

A cake wouldn’t be complete without icing. The same is true of a home up for sale, at least in a metaphorical sense. Mind the subtleties of your home’s presentation by adding those special final touches, and the space will prove that much more attractive. Examples of the final touches for a house going up for sale include the addition of a wreath on the front door, lovely flowers in the bathrooms, and that all-important welcome mat in front of the main entry door.

Don’t Put Your Home on the Open Market!

Want to avoid all of the above?  Instead of wasting your time, energy, and money putting your house on the open market, sell it for cash to Beard Bros. We buy houses in Omaha and the surrounding areas. You don’t need to waste time on cleaning, repairs, or anything else. Our team makes all-cash offers in line with homes’ market values, making it that much easier for you to sell your house fast.

Sell Your House to Beard Bros for Cash

If you are even slightly interested in selling your home, reach out to us today. We buy houses for cash and can get you an offer days after a walkthrough. Beard Bros will provide a fair cash offer that helps you move on to the next chapter of your life with financial freedom. Reach out to our house buyers today by dialing 402-810-8091 to sell your house fast. You can also reach us on the web by completing our contact form.

When you own a home you no longer want to live in, deciding whether to sell it or rent it out can be challenging. On the one hand, if you rent out the house, you’ll have an investment property that has the potential to yield residual income for as long as you hang on to the home. But on the other hand, selling your house could net you a decent return, and you can use that money for other investments or expenses.

How do you decide whether renting or selling your house is the best option in your current situation? Read on for a few important factors you’ll want to consider.

How Much Equity Do You Have?

If you’ve owned your home for a while, or you’ve worked diligently over a few years to pay down a good chunk of your mortgage, you likely have considerable equity in the home. Would accessing that equity help you purchase a new home or pay for moving expenses? If so, selling your house is probably in your best interest since more of the money you bring in from the sale will be profit. You can then put those proceeds toward a down payment or other move-related costs.

If you don’t have a lot of equity built up in your home, renting it out may be the better option. That way, you can put the rent checks toward your mortgage so you can build additional equity over a longer period of time.

Will You Owe Capital Gains Tax?

If you’ve made the house your primary residence for at least two of the last five years — and you stand to make a solid profit from the sale — selling your home may be your best option. Why? Because you can exclude up to $250,000 of your capital gains from the sale when you file your income taxes. If you’re married and file jointly, you can exclude up to $500,000 of your capital gains on the sale.

Haven’t lived in your house for at least two out of the last five years? Then you’ll owe taxes on your capital gains, so renting out the home may be a better option.

Will Renting Yield a Profit?

If you rent the home, will you actually make rental income? Or will you likely end up renting at a negative cash flow? If you’ll make a decent monthly profit from having tenants in the home, renting may be a good option, especially if the value of the home is projected to increase over time.

If, however, you’ll be renting at a monthly loss, it’s likely in your best interest to sell your house fast and move on. Why not use the money from the sale to invest in something that yields a better return?

Do You Really Want to Be a Landlord?

Have you ever been a landlord before? Do you want to deal with tenants? Do you know the ins and outs of landlord-tenant law in Nebraska? Being a landlord is a lot of work and hassle, so if you’ve never done it before, do your research before you take the plunge.

You’ll have to respond to tenant requests in a timely manner, pay for home repairs and maintenance, and ensure the house is always a fully habitable dwelling space. And, no matter how well you vet your tenants, there’s always a risk you’ll end up with problem renters. You can, of course, hire a property management service to handle the hassle for you, but keep in mind that can be expensive too.

What Does the Real Estate Market Look Like?

Are houses flying off the market as soon as they’re listed? Then it may be in your best interest to get in on the action so you can sell your house fast. If, on the other hand, the market is slowing down, or it’s been slow for a while, it’s better to rent out your house for a short period while you wait for the market to heat up again. That’s especially true if your home is likely to increase in value over the next few years. Rent the property until it’s worth more and sell it in the future for a more handsome profit. 

Does Your Home Need Major Repairs?

If your home requires considerable work, such as a roof replacement, HVAC repairs, or any other major repairs, it’s probably not rentable since the damages may put tenants’ safety at risk. And if you don’t want to pay to have the work done, you may not be able to sell the house on the open market either. What should you do then?

Sell your house to a cash home buyer. A cash buyer (like our team at Beard Bros) can purchase your house no matter what kind of condition it’s currently in, and you’ll get an up-front cash payment at closing. If you don’t want to deal with the hassle or expense of renting or listing your house on the open market, selling to a cash home buyer is likely your best option. We buy houses fast for cash, and make the process as easy as possible.

We Buy Houses in Omaha and the Surrounding Areas!

Are you ready to sell your Omaha home? Let our team at Beard Bros Buy Houses help you seal the deal! We buy houses in any condition, and we’re always on the lookout for properties in the Omaha area. Give us a call today or fill out our contact form to learn how we can help you sell your house fast for cash.

What Is Pre-foreclosure?

Pre-foreclosure is the first phase of the foreclosure process that begins when a homeowner fails to make payments on their mortgage. A lender files a default notice on the property when a homeowner is at least three months behind their regular monthly mortgage payments. In this situation, the homeowner has three options: pay off the debt, sell the home, or face foreclosure.

What Should You Do If Your Property Goes Into Pre-foreclosure?

Even if you are faced with pre-foreclosure, there are certain things you can do to help yourself, avoid foreclosure, and save your home. Here are your options.

Consider a Loan Modification

Once you are late with your mortgage payment, make sure to contact your lender as soon as possible and ask about loan modification. A loan modification is a rewrite of the current loan without the closing costs. With the help of this option, you can extend the life of your loan and spread out your monthly payments over more years, which will provide you with more affordable payments.

Try a Short Sale

A short sale is a process where you sell your property for less than the remaining balance on the mortgage. It is a very common and effective option to avoid foreclosure. Most lenders accept a short sale because it saves them the expense and time of foreclosing on a property. However, a short sale has its own disadvantages. One of them is time. A short sale takes much more time than a traditional sale.

Choose a Deed in Lieu

A deed in lieu is the process of voluntarily transferring the title of the property to a lender. A deed in lieu means that the mortgage lender and the homeowner have reached a mutual understanding that the homeowner is not able to continue making mortgage payments. With a deed in lieu, the lender agrees not to put the homeowner into foreclosure if they hand the property over amicably. However, if you decide to choose this option, you should understand that a deed in lieu still causes credit damage that will take a few years to recover.

Borrow Money

You can always try to pay your debt off in order to stop the pre-foreclosure process and avoid foreclosure. If you do not have money to cover your payments, you can always ask your friends or relatives to help you. You may feel uncomfortable to ask, but it is better than your home being put into foreclosure. That has a serious negative impact on your credit history.

Sell Your Home Fast

Another option that is worth considering is selling your home fast to an Omaha, NE home investor or cash buyer. The best thing about this option is that home investors are ready to purchase homes as-is and do it fast. You will be able to sell your property with the help of a cash buyer within two weeks.

Sell Your House Fast to Beard Bros

If you own a home in Omaha, NE, and you are facing pre-foreclosure because of missed payments, Beard Bros Buy Houses Cash is ready to help you. We buy houses in Ashland, Chalco, La Vista, Ralston, and other surrounding cities. We buy houses in any condition and under any circumstances.

We know how to deal with pre-foreclosure properties and have helped many of our clients avoid foreclosure. One of the best things about working with us is that you are able to sell your house fast, and you do not have to make any repairs or fixes. We buy homes as-is. If you have any questions, or you want to know about the selling process, feel free to visit our website or give us a call for more information.

Paying off your debt as quickly as possible puts you in the catbird seat for landing a new home. However, paying down financial obligations is easier said than done. Even if you were to make on-time payments for several years, there is still a good chance you will be buried in debt. The silver lining is that there are some helpful strategies for paying down debt in a timely manner. Here’s how to do it.

1. Sell Your Home While the Market Is Hot

The quickest way to pay down debt is to sell your home for cash to Beard Bros Buy Houses Cash. We will pay cash for your home, providing you with the money you need to pay off debt and transition to the next chapter of your life. The market is blazing hot at the moment, so selling now is likely to net that much more than would be possible in the months or years ahead. There is a good chance that you will time the market just right by selling now and buying down the line when prices are more reasonable.

2. Pay As Much As You Can Each Month

There is an ongoing debate as to whether it is more financially prudent to pay off debt quickly or to use that money for investing. It is possible that investing the money will spur a return so large that you can pay off a considerable chunk or all of your debt sooner than would otherwise be possible. However, there is also a chance that money poured into investments will not produce a rapid payout. This is precisely why it is better to pay as much as possible toward the debt each month. The quicker you pay, the faster you will be off the hook for these financial liabilities. 

3. Attack High-Interest Debt First

Take some time to lay out all of your debts so you have an opportunity to review each one’s specific interest rate along with the money owed on each account. Though it seems logical to make sizable payments to each creditor on a monthly basis, doing so is not financially prudent. Rather, it is in your financial interest to pay down the debt with the highest interest rate first. 

The exception to this approach is when the debts are of significantly different amounts. If you have the vast majority of your debt locked in at low-interest rates and comparably small debts with a high-interest rate, it might make more sense to pay equal amounts to both simply because the low-interest rate on the massive debt has the potential to equal the accumulated monthly interest of your smaller debts in spite of the fact that they have high-interest rates.

4. Consolidations and Transfers

You can reduce the amount of time it takes to pay down your debt by consolidating it or transferring it to a new account with a lower interest rate. The overarching aim of these approaches is to decrease the interest rate to a lower level to minimize the debt’s growth. In fact, some financial institutions provide a 0% introductory rate. Though transferring debt to a new account might trigger a fee, doing so will reduce the rate at which the balance grows, helping you get out of debt as quickly as possible.

5. Spend Less

Spending less of your discretionary income does not mean you have to live like a pauper. Invest a little bit of time analyzing your monthly budget to determine where the metaphorical financial fat can be trimmed. Minimize your spending on luxuries and other nonnecessities, redirect that money toward your financial obligations, and it will be that much easier to climb out of debt as quickly as possible. Alternatively, if the idea of spending less isn’t that appealing, consider picking up a side gig and using the income from this part-time job to pay down your debt in the months ahead rather than letting it continue to increase as interest expands the amount owed with each passing day. 

Contact Beard Bros Buy Houses Cash Today

Our Omaha home buying team will make an all-cash offer for your home. An all-cash sale sets the stage for you to pay down your debt and make a timely transition to new digs. Sell now while the market is still hot by reaching out to us at 402-810-8091. You can also contact us online by completing our contact form.