What Is A “Distressed” Home And Why Should Knoxville Home Buyers Buy One?

Home buyers don’t usually encounter the word “distressed” in buying a house. The very word is enough to turn them off. It’s sellers to whom the word applies. It simply means that circumstances have forced them to sell their homes for a variety of reasons.

Unpaid taxes and the inability to pay their mortgages are two reasons a home is known as distressed . House buying companies Knoxville know how to help these homeowners.

In What Other Ways Would A Property Be Distressed?

Homeowners inheriting a property that’s worn out or falling apart would call the property distressed. Homeowners without the wherewithal to maintain their homes due to illness or being laid off work could call their homes distressed. Perhaps one of the most common instances of a distressed property is divorce in which the property must be liquidated.

How Do Distressed Properties Become Viable?

Home buyers only see a nice house for sale. They aren’t aware that real estate investors from house buying companies Knoxville have given the homeowner a good price on his house. The homeowner sells the house as is for the price decided upon, goes to closing in a couple weeks, and the house is then prepared for sale. The homeowner moves on with enough cash (or a check) to buy a new property.

The buyer gets a house that’s been upgraded and favorably compares with other like homes in the neighborhood. Vol Homes will buy your distressed property and give you a good price in a quick, easy, and respectful transaction.