3 Unconventional Ways to Buy a House in Philadelphia

Ready to buy a house in Philadelphia? The traditional marketplace isn’t always the best fit for every home buyer. Some buyers have extenuating circumstances that create a sense of urgency in finding and closing on a property. For others, economics is the driving force behind finding a creative solution to achieving homeownership. No matter the reason, it’s helpful to know that there are alternatives to the traditional method of hiring a real estate agent and finding a ready-to-move-in home on the MLS. 

Yes, you too can own a home without the approval of ordinary lenders. However, you should be aware the process may require a little more effort on your part. So read on to discover three unconventional ways to buy a house in Philadelphia.

Philly RE Holdings

Working with Philly RE Holdings and our professional property buyers is an unconventional way to save money and buy a house in Philadelphia. Over the years that Philly RE Holdings has been in Philadelphia, we have built relationships with a vast network of investors and other professionals in the real estate industry. Along with our current list of properties, this network of associations allows Philly RE Holdings access to even more of the best properties available at our fingertips long before they ever reach the Philadelphia MLS. No matter the unconventional method you use to buy a house, Philly RE Holdings can help look for properties off-market. While you may believe there are no more deals like these to be had, it isn’t challenging for professional investors like those at Philly RE Holdings to quickly locate these unconventional situations and open the door to you.

Rent-To-Own

Another unconventional way you can buy a house in Philadelphia is to use a rent-to-own agreement. Perhaps you don’t have the cash saved to purchase but prefer owning a home instead of renting. Often, these agreements are for a term of two to three years, which should be ample time to rectify any credit issues while building savings towards approval under a conventional mortgage. Deals like these are difficult to locate but not impossible with the help of experts, like the professional property buyers at Philly RE Holdings. The pros at Philly RE Holdings have the experience to help you locate and negotiate for the opportunity to put down a smaller amount than with traditional loans while investing part of your payments towards ownership and helping you overcome any hurdle with financing that may be holding you back. 

Other Unconventional Means

For example, suppose you’ve found your dream home or vacant properties that you’re interested in but aren’t for sale. With a great deal of research, you may locate information that tells you a great deal about the current owners’ circumstances, such as finding the previously listed home for sale, but the owners removed the listing. In this unconventional method, you can buy a house in Philadelphia by composing a presentation that appeals to the owners. Or perhaps you hope to locate a bargain and invest your time and energy to rehabilitate the property when house hunting. Real estate wholesalers are another option; they discover deals and make a quick turn-around, usually a matter of weeks, profiting as the middle-man between the owner and you as the buyer. Therefore, before moving forward, it’s crucial to take steps to ensure your creditworthiness and line up your financing options.

Why not let Philly RE Holdings handle everything, knowing we live and work here in Philadelphia? As a part of your community, we are your neighbors and have your best interest at heart. Our full-service team of knowledgeable, professional property buyers understands the hurdles homebuyers face and can help you learn about several other creative methods to buy a house. Call Philly RE Holdings at 215-608-1807 or send us a message to learn more.

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