12/03/2020
TOP 10 REASONS PEOPLE SELL THEIR HOUSE
1. Financial problems: Due to the pandemic created by coronavirus a lot of people have lost their jobs and businesses and as a result it has become difficult for them to pay their mortgage. Putting food on the table becomes the number priority and this typically leads to people missing mortgage payments.
2. Inheritance: When a loved one dies sometimes; they leave real estate for their loved ones. Sometimes the recipients of this property may live out of town and may not be able to maintain the property. Sometimes they just cannot afford to pay the monthly mortgage and the taxes that go with owning a home, so they end up selling the house.
3. Divorce: When couples split, they typically share the properties they accumulated during the marriage. So, if they had a house together, they would sell the house and split the proceeds.
4. Pre-foreclosure: When a homeowner falls behind on their mortgage the bank will send them a letter informing them about the fact that their property will go into foreclosure if they do not catch up with their payments. In order not to go into foreclosure and run the risk of ruining their credit, these homeowners would sell their home.
5. Tax Lien: If a homeowner does not pay taxes for to the city or county where the property is located. And when this happens some homeowners will sell their home. And for the buyer of the property to get a clean title, they must pay off the tax lien.
6. Relocation: When homeowners are transferred to another city or state because of job promotion, they sell their home so that they do not end up paying two mortgages.
7. Tired Landlord: Some homeowners get tired of being a landlord and dealing with all the headaches that come with being a landlord. If they have been a landlord for many years, they sometimes get to a point where they no longer want to deal with tenant and property issues.
8. Retirement: When the time to retire comes, some homeowners will sell their home to move to a warmer part of the country.
9. Downsizing: When homeowners first buy a house, most do so because they want to start a family. When the kids leave their home and move into their own homes, their parents typically sell the larger home that is too expensive to maintain so that they can move into a smaller less expensive home.
10. Don’t want to do repairs: There are homeowners who cannot afford to do any renovations to their home and will sell them because they want to buy something newer and do not want to spend the money or the time to renovate their home.