Akash Brahmbhatt a real estate consultant stats10 ways to buy a home with little or no money down. To buy a home with no money looks quite difficult as well as daunting; but you will be surprised to know that it is possible. According to some experts, buying a home or property with no money is easy for people who want to have a home. Irrespective of your personal situation or credit score, you can go to buy a home of your choice. If you are a real estate investor, you might have an ideal, but if you are not, then you must understand that it is not at all difficult.
- Borrow money – it is one of the simplest ways to buy a home of your choice. Yes, you can borrow money from any credible source. However, make sure to choose a borrower who can lend you money at the lowest possible rates. And for that, you need to research and complete your home work.
- Lease option – you might have heard about lease option. Of course, it is a valuable tactic to buy a property with no money at all. Today, most people choose lease option because it is simple, affordable as well as agile option to consider.
- Existing mortgage – this way is quite advantageous when it comes to buying a home with no money down at all. But it makes sense to properly do your home work of the kind of loans as well as mortgages.
- Property swap – Sounds odd, if you want you can simply offer something else for the property you want to buy. And the thing you offer could be anything from your existing cash or asset that you own. However, that should not be greater than the property you want to buy/purchase.
- Offer your skills or service – If you have any valuable skill or can deliver your services, then you can ask the home seller to take it instead of money. Of course, it is all about negotiation power. But it is a great way to buy a home With Little or No Money Down.
6. Finance the purchase – Sounds difficult, right? In this all you need to do is to get the seller to assist you in financing the buying property purchase. Of course, it is quite effective and simple too.
7. Offering a higher price – Now, you need to know this better, because it may help you. All you need to convince the property buyer to skip the down payment and close the deal at higher price. Also you can ask the seller for the installments so that you can make the payments easily.
8. Find a partner – make sure you find a partner who wants to buy the property. However, he should have enough fund and the terms are easy. Also make sure the partner understand all the terms and conditions you have mentioned in the deal.
9. Take the debts of sellers – If you want, you can simplify the deal by skipping the down payment and taking care of all the debts of the home seller. It is a great and authentic way for you to buy a home.
10. Property exchange – If you want, you can exchange the property; however, in this you need to make accurate assessment before making the deal.
So, get ready to have an attractive home of your dreams.