Whit, I need to sell my home, but I really don’t have the money to do the repairs, updates, paint, carpet, etc.
I hear this a lot. It is very common for a homeowner to become frustrated when wanting to sell their home, but cannot make the repairs or updates to their home.
How do I get money to make repairs or update?
First, you need to know the CMV (Current Market Value) and the ARV (After Repair Value). As a License Real-Estate Broker with BHHS, I have access to various data, analytics and systems that will help you to determine what your property is worth in its current condition. We will also be able to determine what the property will be worth after we repair the property. If we determine that repairing the property is your best option, now we need to find the money!
Hopefully you know how much you still owe on your property. What you owe on the property will be determined by the balance of any mortgage liens, whether you have a first or second mortgage, and what the payoffs are on these mortgages. We also will need to make sure your property taxes are up to date, as well as your HOA (Home Owner Association) fees. It’s extremely important to find out if you have any additional liens that have been assessed on the Title of your property. If you can’t clear your title, you will have a difficult time selling your property. Never purchase a home without title insurance. Guess what: you can’t get title insurance without clear title!
Now, having owned a mortgage company for many years, I understand how and where to get funding (MONEY). Actually, getting the funds to repair your home is the easy part.
One easy way of getting funding is to establish Business Credit lines with no proof of income or assets. This is one of the biggest kept secrets in our country. 
Let’s be honest, if you don’t have the money to complete the repairs on your home, then that means you need more money, right? Well, why not get the money to start a business, borrow from the line of credit to complete the work and when you sell you home pay the business line of credit off.
Check out my review on my business credit software. Learn how to get money for your business. I’ll even let you try the software for FREE. I have had many clients start a real estate investing business, establish a business line of credit and use that line to buy properties and make repairs to their own property.
You can also apply for a loan or refinance your home to get access to money for repairs. Interest rates are low, so if your credit is good, give it a shot.
Remember, if you have any questions, hit me up!
No question is a “bad” question!
