Owing more on your mortgage than your home is currently worth can make selling feel like an uphill battle — especially when you’re under pressure from financial or personal circumstances. Whether you’re facing job loss, relocation, divorce, or other urgent life changes, the added weight of negative equity can make an already stressful situation feel overwhelming. Many homeowners in this position worry about what options they have, whether they’ll be stuck with the property, or how a potential sale might affect their credit and long-term financial health. The good news is that you’re not alone — and you’re not without options. By gaining a clear understanding of your alternatives and the strategies available to you, you can take control of the process and make informed, confident decisions. In the following sections, we’ll walk through exactly how to approach selling your Lubbock home when you owe more than its current market value — and what steps you can take to protect your financial future. Continue reading as we explore how to sell your house in Lubbock when you owe more than its current value.
Commissions
Real estate commissions quickly accumulate when selling an underwater house in Texas, potentially leaving you with additional debt after closing. However, professional buyers like those at Electrum never charge commissions, and our transparent process eliminates hidden fees when you sell directly. At Electrum, we provide cash offers that clearly show exactly what you’ll receive at closing. You won’t pay closing costs either, because at Electrum, our professional team handles everything efficiently in-house, allowing us to guarantee closing dates, often within days. Or speak with your Electrum representative about selecting your preferred closing date, and we’ll accommodate your schedule.
Prep and Repairs
Typically, making repairs and preparing a property enhances buyer appeal and maximizes profit potential. However, these steps require significant resources, time, and money—which may not be realistic when you need to sell your underwater house in Texas. Professional buyers at Electrum will clearly outline what you could potentially earn by making improvements and listing traditionally versus our direct, as-is purchase offer. Selling directly to Electrum means you won’t worry about inspection issues, as we assume all repair risks. You’ll also skip the exhausting preparation work and inconvenient showings when you work with Electrum.
Current Market Value
If you’ve missed mortgage payments and hear foreclosure warnings from your lender, swift action is crucial. However, you may find yourself unable to cover the difference when selling your underwater house in Texas. Professional buyers at Electrum can guide you through a short sale process to avoid bankruptcy or foreclosure. At Electrum, our experienced negotiators work directly with your lender to help you sidestep the severe consequences of inaction that can negatively impact many aspects of your life, including long-term damage to your credit score.
A direct sale to Electrum offers the most effective solution for selling your underwater house in Texas. With our straightforward, fast, and simple process, Electrum‘s professional team proudly serves the Texas community with complete transparency. At Electrum, we’re your neighbors here in Texas, committed to creating win-win solutions that help homeowners regain their freedom while simultaneously improving our communities. That’s why we ensure you have all the information needed to make an educated decision—we want you to feel confident about your choice long after closing. Call Electrum at 806-630-0875.