Wondering how to sell a home with negative or zero equity? Read through the following homeowner case study in Portland, Tennessee, to see how we helped a family in the same situation.
- Family Name: Collin Harvey
- Property Address: 112 E William Dr., Portland, TN 37148
The Issue the Harvey Family Faced
When Collin Harvey’s mother needed extra support, he decided to relocate his family to be closer to her and attend to her needs. He stepped into action by searching “sell my house fast in Portland, TN” online. The home was comfortable, with lots of potential. While it needed a little maintenance, it had good bones and was decently sized.
Given the urgency of his mother’s situation, Collin wanted a quick, stress-free solution, without having to undertake expensive repairs or wait ages for the right buyer.
But Collin was worried that the lack of equity in the home would be an obstacle, so he reached out to My Tennessee Home Solution for advice. One of the things to know about home equity is that it’s not a prerequisite for selling. It’s only a problem if the sale amount won’t cover the mortgage.
The MTHS Solution for Selling a House With No Equity in Portland, Tennessee
Collin was under a lot of pressure when he called the team. He was facing financial pressures but also wanted to support his mom. Jeff Henry reached out to discuss Collin’s situation with him.
He referred the matter to home buying specialist TJ Neal, who spoke to Collin about his goals and evaluated the property. He then worked out a custom plan designed to help Collin and his family.
Collin also had an offer from a competitor, so he had a lot to think about. In the end, he went with MTHS because he felt that they had his family’s best interests at heart. While the offers were around the same, he preferred the level of care he received from Jeff and TJ.
MTHS then set Collin up with their Equity Protection Program, one of the unique stress-free home-selling options for distressed sellers.
MTHS took over the payments and responsibility for the property, and Collin was able to be there for his mother.
There was one small thing. This home was filled with memories, and one of the doorframes had pencil markings tracking Collin’s children’s growth. The family didn’t want to leave this behind.
When Kalyn and Sydney from the Transaction Coordination team heard this, they reached out to the partner who’d taken over the home. The partner graciously agreed that the team could remove the frame and return it to the family. Now they can continue building on those memories.
The MTHS Difference
At MTHS, it’s never just about real estate because people matter. The team truly cares and works hard to preserve memories. They look for the most equitable cash home buyer solutions for low-equity properties, determining a fair cash offer.
Are you worried about home equity when selling your house? Call My Tennessee Home Solution at 615-933-5431.
