What is a Distressed House? Who Will Buy My Distressed House in Sacramento?
“A distressed house is one that is under a foreclosure order or is advertised for sale by its mortgagee. It almost always refers to a house that is damaged or in poor physical condition due to the owner’s precarious financial situation”.
As a cash home buyer in Sacramento, I frequently use the term “Distressed Housing” in articles that I have written to describe the condition of houses in the Sacramento, Stockton and Modesto real estate markets that “we buy houses” in. When I use the term, it also relates to the situations that the homeowners are facing and the challenges that lie ahead in solving a multitude of home ownership issues.
For our purposes the physical condition of the house itself points directly to the underlying financial condition and the vicious circle begins. When you have no money to address common and ongoing household issues, whether they are normal wear and tear, deferred maintenance, damage from acts of god, fire, water or just plain neglect. Each of these conditions, together or separately create huge challenges for the homeowner and if the homeowner wants or needs to sell their house fast in Sacramento, they will be met with immediate obstacles, and new financial burdens because the conventional template created by the marketing in the real estate industry is one that steers distressed sellers directly to real estate agents.
The problem is that real estate agents are not equipped to deal with the challenges that these houses pose because they are sellers and buyers agents and are not purchasing the property outright. Unlike real estate investors that pay cash for distressed houses in Sacramento, real estate agents will tell you what you need to do to get the house ready for sale. The plan will cost thousands of dollars and the results are not guaranteed.
One of the nuances in real estate is the immediate knee jerk reaction by real estate agents to treat all houses as a one size fits all business with the same conventional solutions for every house and every homeowner regardless of the situation. But no two situations are the same and sometimes the solutions offered just don’t benefit the homeowner at all. Sometimes the text book solutions offered by real estate agents are actually commission driven rather than solutions oriented. Most of the time the real estate investor in Sacramento, the Cash Home buyer, is better equipped to handle the distressed house than a real estate agent and save the homeowner thousands of dollars in repairs, fees and commissions.
The residential real estate market in Sacramento has many niches that are specialized, beginning of course with high end mansions and estates to middle class housing developments and of course the distressed housing market. There is a misconception; however, that distressed houses only exist is poorer older neighborhoods. Distressed houses can exist in every neighborhood but are usually seen as a house here and there, but in some areas there are entire neighborhoods are distressed as well. A real estate agent cannot approach or begin to solve the multitude of life’s issues and depending on the situation of the homeowner, the financial condition of the house (its mortgage) and its physical condition, with a single approach. One option may actually be better than another. There is a reason we all exist and quite frankly we all have our specialties that we excel in.
There is an attempt in real estate to ignore that it is not a one size fits all business. As we have stated, not only are all houses are created equal. They come in different sizes, condition, location, layout, financial structure and desirability. Most importantly, they are owned by individuals with different needs, wants and motivations and you can never overlook the many different reasons that someone needs to sell their house fast in Sacramento.
Sometimes you just need to sit down and look at the problem from another perspective, from another approach. As a cash home buyer in Sacramento, we attempt to solve the individual problems facing a homeowner by buying their Sacramento house and cashing the homeowner out with whatever equity is practical that also allows both parties to win. We don’t charge fees and we don’t charge real estate commissions. We make investments in distressed houses and look at the situation from a solutions standpoint. We generally build a liquidation plan directly with the homeowner and talk to them about their needs and goals. We buy houses in Sacramento by working with the homeowner and listening to what is important to them and tailor our purchase of the house without the hidden cost associated with a traditional sale.
In many cases we have advanced money for moving expenses, the eviction of a tenant or relative, paid for the probate or even the cost of an attorney. Most real solutions are based on needs and sometimes the answers are very simple, but if you are a homeowner that is without the financial resources, it’s very difficult to see the possibilities. I have always asked my customers… what do you want to accomplish? More often than not they just didn’t understand that there were companies like mine out there that would provide the resources and help them develop a plan, including the financial help to get on with their lives.
Once we realize that the definition of Distressed in not exclusive to the financial condition of the house, we can see real life situations actually create barriers for solving a complex real estate problem for homeowners. At Westbrook REI we provide resources and solutions with a plan that we build together.
All too often we underestimate the root causes of the distress that brings a homeowner to say “I have had enough, I need to sell my Sacramento house fast and be done with it.
We are here to help.
We buy Homes in Sacramento for all types of situations including:
- Trouble Selling
- Need to sell quick
- Owe Taxes
- No Equity / Short Sale
- Bad Tenants or Relatives
- Behind on Payments Pre-foreclosure
- Expired Real Estate Listings, unable to sell conventionally
- Retirement or downsizing
- Judgments or Liens
- Structural and Foundation issues
- Facing foreclosure
- Relocation or job transfer
- Undesirable neighborhood
- Need for fix up/repairs
- Death of a loved one
- Liquidating assets to pay bills
- Inheriting a property you can’t keep
- Job loss
- Troublesome mortgage terms
- Can’t Afford Realtor Fees
- More than 1 House Payment
- Medical Bills
- Code Violations
- Fire Damage
- Water Damage
- Condemned Property
- Building a New House
- Ugly House
- Environmental Issues
- Title Issues
If you or your family are going through any of these life changing events or owns a distressed house that you need to sell fast please contact us so that we can sit down and build a plan with you.
Remember Real estate is not a one size fits all business and your house is more than a real estate commission. There is no need for you to risk money you don’t have chasing a big cash-out that may never materialize. All too often people get caught up in being able to sell their house for top of market value and waste thousands of dollars fixing and updating a house based listening to what they believe are experienced people that have invested no money whatsoever. Free advice from someone that has not invested their own money is worth what?
As a real estate investor in Sacramento, CA, we risk capital for a living. We buy houses in Sacramento knowing exactly how much time, money and resources are required to rehab a distressed property. And, yes we are prepared for the big surprises that come along with buying houses in Sacramento without inspections, without contingencies and without any guarantees that we will be able to accomplish our goals. We are prepared to rehab a house that no one lives in and address each obstacle head on occasion and we have even seen our well thought out plans crumble, but the homeowner was not at risk and they were not stuck with a house that was no longer an asset. They were cashed out and moved on with their lives.
My name is Peter Westbrook, I am the owner of Westbrook REI and I am a local real estate Investor, a cash home buyer in Sacramento, Stockton and Modesto, CA. and I would like to talk to you about how we do business and how we can help you. While no one can promise that they will buy your house sight unseen for whatever you want, we will sit down and make a fair cash offer that will in most cases exceed what you can get if you chase the market.
Give us a call at (209)481-7780. What have you got to lose, you may just find out that cashing out is your best alternative. In either case you will be get a better picture of your options, understand your houses worth and be able to make more informed decision. We’d love to earn your business