How to Sell Your House in Charlotte if You Owe More Than It’s Worth

If you owe more on your house than its current market value, it can be a difficult situation if you need to sell your property. This becomes even more challenging when you must sell quickly due to foreclosure or a sudden need for relocation. Selling a house is stressful, particularly when you need to sell within a specific time frame. However, it is essential to explore your options to make an informed decision about how to sell your house in Charlotte when you are upside down on the mortgage. This can significantly impact how quickly you can get out of a difficult situation. So, let’s look at how to sell your house in Charlotte fast.


Commissions add up fast when list your home with a real estate agent. Charlotte real estate agents will often dicount their commision from their 6 percent but even at a discounted rate of 4.5 percent that is a sizable amount of the proceeds. If the loan payoffs are more than what the agent can sell it for may have to bring money to the closing to cover the difference.

However, there are cash home buyers and investors who don’t charge a commission when you sell your house directly them. Look for a local home buyer who will make a cash offer that includes no closing costs, stamp taxes, or normal attorney fees.

Prep and Repairs

If you owe more than your house is worth and need to sell, making repairs and preparing the home to attract buyers may not be a realistic goal. Although making repairs and updates can help you earn the highest potential profit, they require a great deal of time and money.

The home’s condition may be the reason why you are upside down on your mortgage. If the home in it’s current condition will not sell for the amount you owe you have the option to sell to a local home buyers. Investors will evaluate the home, the type of mortgage you have and the balance of the loan, The may offer to purchase the home as is by assuming the loan.

By selling your home to a cash buyer, you won’t have to worry about passing the inspection, and we will take on the risks of repairs. Additionally, you can skip the hassles of showings and preparation when you sell directly to them.

Current Market Value

If you’re struggling to keep up with mortgage payments and have received a preforeclosure notice, take action and find a way to sell your house. However, if you can’t afford to pay the difference when you need to sell your house and owe more than it’s worth, there is still hope.

Direct home buyers, like JMS Home Buyers LLC, will guide you through the process of a short sale to help you avoid bankruptcy or foreclosure. At JMS Home Buyers LLC, we have a network of experienced Charlotte real estate agents specializing in short sales. They are skilled negotiators who will work with your lender to prevent the negative consequences that can drastically affect your credit score. A short sale is not a quick and easy way to sell your home. You will need to take this into consideration and talk with your bank as soon as possible. 

A direct sale to a Chalrotte home buyer is the one way to sell your house if you owe more than it is worth. We will look at all the possible options for buying your home including an assumable loan or subject to. There are various ways to sell your home in Charlotte beyond accepting a cash offer. Our goal is to simplify the process and provide a quick solution for you. This begins with a discussion and an evaluation of the home’s condition.

JMS Home Buyers LLC is a team of professional buyers who take pride in their transparent and efficient home buying process in Charlotte. Our team is made up of your neighbors who care about the community and the people living in it. We believe in providing you with all the necessary information to make an informed decision on how to sell your house If you’re interested in selling your home, give us a call at 704-707-6016. 

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