Christopher Ellyn Homes

Thinking of doing owner financing to sell your home?

Well, that's not a bad idea if you do it right and you know what you're getting into.

But you DO need to know what you're getting into.

Here are some pros and cons for sellers in owner-financing deals:

PROS...

Sell Faster: Sellers who offer owner financing can often sell their home more quickly than those who don't.

Sell As-Is: Sellers won't have to make as many repairs or renovations as would normally be expected when trying to meet a lender's expectations.

Retain Title: If the buyer defaults on the payments, the seller keeps all of the payments and the title to the house.

Good Investment: You may find that owner financing is a good investment opportunity.

CONS...

More Upfront Work: There will be more work upfront for you as the seller, such as drawing up paperwork and meeting with potential buyers.

Potential Default: If the buyer defaults on their payments, it will be up to you to evict them and take back the property. This can be a long and costly process.

The Need to be Organized: You'll need to keep track of payments, interest rates, and other important details.

Repair Costs: If the buyer defaults, you may incur costs for repairs that are necessary to get the property back into sellable condition.

Dodd-Frank Act: The Dodd-Frank Act (2010) protects consumers in owner-financed deals by requiring sellers to provide disclosures and follow certain rules.

Hope that helps!

If you want to skip the potential headaches and sell your house as-is for a fair cash price, give us a call at 317-526-5700. We can close in as little as two weeks and we'll even pay all closing costs!

Thinking of selling your house to a family member?

There are a few things you need to take into consideration before making this decision. Selling your home to a family member can be a great way to keep the property in the family, but it’s not always the best financial (or relational) decision.

Here are a few things to think about before selling your house to a family member:

1. What is the market value of your home?

Be sure to research the market value of the home before selling. You might consider selling the property for a big discount to a family member, but it's still important to know what you stand to make or lose by going this route.

2. Are you sure the family member can afford it?

Be realistic about a family member’s ability to purchase the home. If they can’t afford the property, selling to them may not be the best option -- and it might end up wasting a lot of time. Be sure they can get pre-approved for a loan.

3. What are the emotional implications?

Selling your home to a family member can be an emotional decision. Be sure you are comfortable with the idea of this arrangement before proceeding. If there are any nagging doubts, it may be best to sell to someone else.

Hope that helps!

If you want to know what you could get for your property by selling fast for cash, give us a call at 317-526-5700. We can buy your house as-is, and you pick the closing date.

Does your house have code violations?

It is often unexpected and frustrating when you receive notice that your property has a code violation and that, if it's not fixed, you're going to receive a fine.

We know what this is like.

At Christopher Ellyn Homes we've bought a lot of properties in Indianapolis with code violations and had to deal with fixing those problems.

So... what are your options?

There are a few different things that can be done if your property has code violations.

The first thing that you can do is try to fix the violation yourself. This may be something as simple as trimming some trees or bushes, painting over graffiti, or fixing a hole in a fence. If the violation is something that is easily fixed, this is probably going to be the cheapest option.

The second option is to hire a company to fix the violation for you. This is going to cost you more money than DIY, but it will save you the time and headache of dealing with it, and ensure the repairs are completed to code.

The third option is to do nothing and hope that the violation goes away on its own. This is a BAD choice. Because it's not going to go away. Oddly enough, it’s still one that many people choose!

The fourth option is to sell the property. This may be the best option if you don't want to deal with the hassle of fixing the code violation, you can't afford to fix it, or the violations are extensive.

In fact, we can buy your property as-is (code violations and all) for a fair cash price and close in as little as two weeks. We'll even pay all closing costs. Give us a call at 317-526-5700 to get your no-obligation cash offer!

Thinking of selling your house but worried it won't pass the inspection?

When selling the traditional way, on the MLS, passing the home inspection is very important.

It's one of the many contingencies that are typically included in a real estate purchase contract.

If problems are found during the inspection, the buyer can then choose to back out of the contract or renegotiate with you, the seller.

Obviously, it's in your interest to try and make sure your home passes the inspection on the first go-around. Here are some tips...

1. Check the structure of the home from the foundation to the roof and everything in between.

If there are any cracks or damage, have it all repaired before putting your house on the market.

2. Inspect the plumbing and electrical systems. If there is any outdated wiring or plumbing, it will need to be replaced or updated.

3. The condition of your windows and doors are important, as well. If any of them are in disrepair, they will need to be fixed.

4. Make sure the HVAC system is in good working order. This is a big one that can make or break a home inspection.

5. Last but not least, do a deep clean of your entire house. This includes the inside and outside.

The cleaner the house is, the more likely it is to pass inspection.

Or if all of this sounds like too much work, you can skip the hubbub and sell to a professional cash buyer like us at Christopher Ellyn Homes -- we can make you a fair cash offer within 48 hours and close in as little as two weeks.

Give us a call at 317-526-5700 to learn more!