Bad Condition House?


In the real estate industry, if a property is associated with any financial or legal entanglements than can impede its immediate readiness for sale, it is said to be "distressed." The property can be classified as pre-forclosure, foreclosure at auction or bank-owned/repossessed depending on the stage of foreclosure the home is in. Read our "What Are Distressed Properties" page to learn more about the difficulties of selling properties for many motivated homeowners

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Distressed homes is a real estate industry term defined as a home that is assessed to be in non-optimal physical condition. Common issues that can cause a home to be considered "distressed" include foundational damage, termite infestation and properties in poor repair due to lack of recent tenancy. These properties often prove to be difficult to sell through traditional real estate channels because interested buyers typically look for homes that are ready to move into, with limited or no issues of this type. Unfortunately, that means that homes that do have these issues can sit on the market for months or even years, even in areas generally known for their high property values. Worse, these homes can require thousands in extensive out of pocket repairs in order to attract a preferable price on the open market. Distressed homes may even require that special provisions be placed into the purchase agreement even after critical repairs are made, and so many transactions involving these homes fall apart at the closing table. Combined, these factors make properties declared "distressed" extraordinarily difficult for the average homeowner to sell through conventional means. That's where we in. Our no-obligation appraisal process means you can call to schedule a basic evaluation of your home's condition and obtain a fair cash value for your property in much less time than selling your home through a traditional real estate agency. No extended time on the market and the associated listing and maintenance costs, no spending a small fortune on required renovations, just fast cash in your pocket for your unwanted home, often within 30 days or less. We have helped thousands of motivated sellers nationwide free themselves from distressed homes, and our staff of specialists is standing by to put its expertise to work for you. Call today.

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Avoid Distressed Home Pitfalls With Us!

For many sellers motivated to close on a transaction for their unwanted property, the roadblocks to the closing table can prove intimidating. Homes assessed as "distressed" often require thousands in vital repairs to make them ready for sale on the open market, and even once listed can take much longer to sell than properties without a history of the issues that can cause a home to be declared "distressed." In fact, open market sale on distressed homes is associated with a range of common complications, and we offer a no-hassle alternative for homeowners looking for fast cash payments for their properties.

Get the most for your damaged home. | Columbus

Delayed Sale

Major issues that can have a negative impact on the open market value of a home are often only discovered in an inspection as the house is being prepared for sale. Often, limited access to remodeling funds means that homeowners are forced to delay their sale until they can pay for the repairs, and this delay can postpone closing on a sale for years in some cases. Meanwhile, the homeowner is responsible for the home's day to day maintenance, upkeep and expenses!

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Extended Timeframe

Owners of homes considered distressed almost always underestimate the timeframe for closing on a sale of their property on the open market. Repairs can take months and cost many thousands of dollars in the case of issues such as plumbing operations and flood damage. Financial entanglements can develop into legal obstacles which easily scare off otherwise interested parties.

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Extreme Circumstances

Homes considered distressed can even become impossible to sell due to outside factors such as problem tenants who intentionally damage a property after an eviction or sale. Squatters can be another problematic issue, taking up residence in the property illegally to make it impossible to sell, show or even repair in some cases.

Find A Property Buyer Today - Like Us.
Find A Property Buyer Today - Like Us.

Selling Your Inherited Columbus, Ohio House

Selling your inherited house can come with a number of legal entanglements such as liens and estate taxes as well as the emotional burden of depersonalizing what may be a meaningful place. It can be particularly problematic in the case of default, in which the mortgage must continue to be paid or risk foreclosure in many jurisdictions. Further complicating matters, there is often a "creditor claims" period during which all assumed rights to the property are verified. During these various processes, homeowners can be burdened with the costs of everyday upkeep as well as legal expenses related to the transfer and eventual sale of the house.

Get the most for your damaged home.

Can I Sell My House with Major Foundation Issues?

We are an area leader in purchasing homes with damaged foundations and other major issues for years, and is here to offer fast cash for your unwanted property. We provide a no-obligation appraisal for your property through our convenient application process, and we purchase your home as-is so you won't have to worry about skittish buyers or expensive repairs. When you sell your house to us, we pay all of your standard closing costs. We never turn down homes with damaged foundations, because we want to offer the financial flexibility you need. We are a local leader in buying distressed homes, and can offer you the fast cash settlement you need. Talk to one of our friendly representatives for a free consultation.

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Can I Sell My House with Termite Damage?

Once you've sold your home to us, your termite damage is our problem. We handle all the repairs and renovations while keeping pace with the open connect your home with buyers…all you do is enjoy your cash payment. Selling your home through conventional real estate channels can take months, and the process can be even more difficult when a home has termite damage…so sell it to us! When you work with us, we pay all your standard closing costs, so you can get the most possible financial flexibility from the proceeds of the sale. We relieve you of the burden of a termite damaged home so you can move on to the next chapter of your life. Contact one of our helpful representatives to begin your no-obligation evaluation process.

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When you call, we'll go over the details of your house with you. It won't take us long to put together the details and give you an offer
You dont't have to take it, you're not obligated to us for anything . But call to get our bid, we're extremely competitive and will get your home off
of your hands conveniently, so you don't have to worry anymore . Call us now for our offers!

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Information for Columbus, Ohio

Ohio, Franklin, Fairfield, and Delaware counties, capital (1816) of Ohio, U.S., and seat (1824) of Franklin county. It is situated in the central part of the state on the relatively flat Ohio till plain, at the junction of the Scioto and Olentangy rivers. Columbus is at the centre of a metropolitan complex that includes Dublin (northwest), Gahanna and Westerville (northeast), Reynoldsburg (east), and Grove City (southwest); several municipalities, including Upper Arlington, Worthington, Bexley, and Whitehall, are wholly or largely surrounded by the city. Inc. city, 1834. Area city, 213 square miles (552 square km). Pop. (2000) 711, 470; Columbus Metro Area, 1, 612, 694; (2010) 787, 033; Columbus Metro Area, 1, 836, 536.Columbus, Ohio. bucknut4pic/Fotolia HistoryColumbus was planned in 1812 as a political centre by the Ohio legislature and was named for Christopher Columbus. The state government moved to the city in 1816 from Chillicothe, and Columbus later absorbed the nearby earlier settlement of Franklinton (founded 1797). The city experienced significant growth after a feeder branch of the Ohio and Erie Canal was opened to it in 1831 and the Cumberland (National) Road from Maryland reached it in 1836. The first railroad arrived in 1850, further stimulating development.During the American Civil War, Columbus became a major staging area for Union forces, and Camp Chase, one of the North's largest facilities for Confederate prisoners of war, was built on the city's west side. The local economy continued to boom after the war. Columbus became one of the country's major manufacturers of horse-drawn vehicles. By 1900, when the population exceeded 125, 000, the city had emerged as an important transportation and commercial centre. Following damaging floods in 1913, the Scioto River was widened and levees, retaining walls, and bridges constructed, which allowed riverfront development. Read More on This TopicOhio (state, United States):Unprecedented industrial growth occurred after 1940. A large aircraft plant established there provided the initial stimulus, but many branches of national companies were also attracted to the area. Columbus continued to grow in size mainly because it pursued a policy of annexingadjacentland; between 1950 and 2000 the city's land area increased fivefold, and its population nearly doubled. By 1990 it was Ohio's largest city. People of European ancestry have longconstitutedthe great majority of its residents, but the African American proportion of the population has steadily increased to about one-fourth of the total.The contemporary cityIn the early 21st century the fastest-growing sectors of the local economy were education and health, transportation and utilities, and professional and business services. High-technology industries and manufacturing (automobiles, motorcycles, communications equipment, steel and steel products, and nutritional supplements) were also important. The city's favourable geographic position wasenhancedby the presence of main-line railroads, an extensive highway network, and an international airport. Nearly half of the U.S. population was located within a 500-mile (about 800-km) radius of Columbus. Statehouse, Columbus, Ohio, U.S. Ellis - Sawyer/Shostal Associates The main campus of the Ohio State University (1870), which has one of the largest enrollments of any American university, occupies a large site north of downtown. Other institutions of higher learning include Franklin University (1902), Capital University (1830), Ohio Dominican College (1911), Otterbein University (1847), Pontifical College Josephinum (1888), Columbus College of Art and Design (1879), Columbus StateCommunityCollege (1963), and state schools for the hearing and visually impaired. Notable research organizations are Battelle Memorial Institute (1929; technology), the Orton Ceramic Foundation, and the Chemical Abstracts Service. The federal government operates a large military supply centre and other facilities. Many of the state's institutions and offices and the state fairgrounds are in the city. The Ohio Statehouse (a limestone structure in Doric style, completed in 1861) has a monument by sculptor Levi Tucker Scofield. University Hall, The Ohio State University, Columbus, Ohio, U.S. Test Your KnowledgeFootball (Soccer):Fact or Fiction?Also of interest are the McKinley Monument, Camp Chase Confederate Cemetery, the Ohio Historical Center (1970) and adjacent Ohio Village outdoor museum, and COSI Columbus, a science and industry centre. The city supports an art museum and a symphony orchestra. The home of author James Thurber is preserved as a literary centre. The city maintains a large park system, and there is a conservatory and botanical garden east of downtown. The Columbus Zoo, located in the northwest near Dublin, is one of the country's most renowned zoos. Area reservoirs (including Griggs, O'Shaughnessy, and Hoover) are also popular recreationalvenues , as is Alum Creek State Park north of the city. Scioto Downs and Beulah Park have horse racing. Annual events include an arts festival (June), the state fair (August), and Oktoberfest (September; based at the restored 19th-century German Village area south of downtown). Olentangy Indian Caverns, just north of the city, has caves once used by Iroquoian-speaking peoples.

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Distressed Properties FAQs

What are Distressed Properties?
In real estate, if a homeowner suffers from financial problems, which render him unable to meet his monthly mortgage obligations, he is said to be in distress and the home is referred to as a Distressed Property. Based on the stage of foreclosure the property is in, it can be classified as a pre-foreclosure, foreclosure at auction or a bank owned home/repo home.

For more information, simply check our What are Distressed Properties? page.

How to buy distressed properties?
Buying distressed homes is simple enough. You only need to determine where in the stage of foreclosure is your entry point and understand what is involved in purchasing these properties. Each stage will require a different approach, so it is also crucial you do your homework even before you search for the perfect distressed property.

To help you make sure your purchase is a success, check out the How to Buy Distressed Properties page.

How to invest in distressed properties?
Considering the impressive profit potential offered by distressed properties, it is not surprising buyers are presented with numerous investment opportunities. You will find investing in these distressed homes is quite lucrative. Of course, in order to maximize the said potential, you have to make sure you know and understand what is involved in each of these opportunities.

You can refer to the Guide in Investing in Distressed Properties for more information.

How to find distressed properties?
When it comes to finding distressed properties, there are actually several ways to do so. You can choose to go the traditional route and search neighborhoods or scan classified ads in newspapers. But there is actually a more efficient and convenient way - there are distribution centers.

We offer a large selection of distressed houses for sale, including pre foreclosures, foreclosures at auction and bank owned properties located in all 50 US states. You will have easy access to all relevant information pertaining to these homes with just a few clicks in your computer. Finding the best deal on a distressed property which meets your budget and preferences will always be hassle-free.

Is there a specific type of distressed properties which is more profitable to invest in?
You will be pleased to know that despite the many types of distressed properties, all of them promise to be profitable. Your choice will simply have to depend on your resources and needs. Since each type of distressed home offers their own advantages, you have to determine which type you are comfortable of buying and eventually owning.

Are distressed homes always sold as is?
In general, distressed properties are sold as is. For this reason, you have to conduct a thorough inspection of the property to see the extent of repair work needed. Hiring a professional inspector is strongly recommended. In few cases, the seller will agree to agree to shoulder the repair cost as long as they are minimal. It is really a matter of knowing exactly what you are buying and negotiating with the seller.

What Are Handyman Specials?
Distressed properties which require extensive repair are usually referred to as Handyman Specials. They are usually sold at very low prices since the buyer will have to spend much on repair and renovation. It is important you know exactly how much it would cost you to have the property fixed up to estimate your potential profit. You can do so by working with an experienced and professional contractor.

What are Fixer Upper Homes?
These distressed properties - as their name suggest - requires fixing up. Investors consider these properties as the perfect choice for flipping since they can be bought for a fraction of their market values. Obviously, you will have to order a thorough home inspection to determine how much it will cost you to repair the property. Once they have been repaired and renovated, they can be sold for considerable profit, which is why many real estate investors consider them gold mines.

What do I need to get started with distressed homes investing?
To get you started on your distressed homes investing, you will need to educate yourself about everything there is to know about properties in distress from buying to cashing in on your investment. Of course, you have to understand your success will be greatly dependent on finding the best deals.




 


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