Often, we buy a house that meets our needs and then, a few years later, we realize that our needs have changed. Making the mortgage payments on a house you no longer really want can be excessively stressful, even frustrating. In this article, you’ll discover 5 ways to get rid of your mortgage in Montreal. Then you can move on to the next step!
Making hefty mortgage payments every month isn’t always easy. This is especially true if you’ve had enough of property and want something different. We’ve listed below the information you need to get rid of your mortgage quickly, without having to worry about excessive fees or financial penalties. If you have any questions about how to get rid of a mortgage in Montreal, don’t hesitate to contact us!
Sell fast
The quickest and easiest way to get rid of your mortgage in Montreal is to sell your home directly to a professional buyer. The Vendre Maison Vite team buys properties from local homeowners and can complete a purchase in just a few days. Selling your Montreal home quickly will save you a fortune in carrying costs. We’re talking about electricity, maintenance, taxes, insurance and many other expenses to be covered by the owners. Advertising a home for sale on the traditional market is a fairly effective method, but the process can take several months and can be costly. If you’re looking to sell right away, a direct sale to the Vendre Maison Vite team will save you time and money. You’ll achieve the peace of mind you’ve been dreaming of!
Hire an agent
Many Montreal homeowners choose to hire a real estate agent when they decide to sell their home. Using an agent can be advantageous in some cases. However, the costs involved are not always worth it. If you don’t mind paying your agent commissions, doing work and waiting for an indeterminate period of time, hiring a Montreal-area real estate agent may be the best thing for you. If, on the other hand, you urgently need to get rid of your mortgage immediately in Montreal, selling your home directly will certainly be more advantageous. Dealing with an agent can be very expensive. Fortunately, dealing with our team will allow you to get rid of the mortgage on your unwanted home in Montreal at no cost and with no hassle.
Rent
Technically, you’ll still be responsible for paying the mortgage, but in practice, your tenants will. Renting to good tenants could not only help you pay your mortgage each month, it could also allow you to make extra income. However, not all properties are excellent candidates for rental. By the same token, not all owners are cut out to be landlords. However, by dealing with the right property management company, you’re sure to find good tenants and be able to rent the property to them. This way, someone else will pay the mortgage for you.
Donate
You don’t have to give your property away, but you could offer it to someone else and let them take care of the mortgage. Perhaps one of your children or another member of your family would like to have the house. You can take over the mortgage for him or sell him the property for the amount owing on the mortgage. In this way, your debts will be repaid and you will avoid any penalties or additional charges. This is a very attractive option, as it’s a win-win situation: you get out of the house, and one of your friends or family members will have the opportunity to buy your home at a fair price.
Rent with purchase option
Selling a home through a rent-to-own contract is an excellent option for anyone who wants to sell at market price and doesn’t see a problem in waiting to sell and receive their money. Offering a lease-to-own contract opens the door to a large number of potential buyers. By doing so, you’ll improve your chances of selling quickly and at a good price. Although you won’t receive the full amount immediately, you’ll be able to collect a higher-than-usual rent, plus receive a deposit and a guaranteed source of income for one or even two years. Once the lease has expired, your tenant will have the option of buying. If he can’t buy, the house will still be in your name. You can then decide whether to sell it or rent it to someone else.
Ready to get rid of your mortgage in Montreal? Doing business with the Vendre Maison Vite team will help you get the price you’re looking for while saving you a fortune along the way. We can help you get rid of your mortgage. You don’t have to feel stuck with your property one minute longer! If you need to sell your home fast, our team is here to help!
