Selling a foreclosure property is not an easy task because of the situation. You’re not selling a house, the traditional way. You can’t wait and try to find a buyer and negotiate to see how things go. You’re selling a house for reasons, including the following:
- You don’t want the house, and you have given up the ownership to the bank.
- Mortgage payments are unaffordable, and the bank is foreclosing because of non-payment.
- It’s an inherited house, and the foreclosure is happening because of the legal intricacies.
- A “due on sale” clause is activated, and you have to pay the mortgage (in full), or the bank can proceed with the foreclosure.
A pre-foreclosure property is often sold to pay the bank, which might not be possible otherwise. By selling quickly, you can stop the foreclosure process in its tracks, and you can execute a sale of your home. As a homeowner, you can sell your home for a better price, your balance is paid in full, and you save yourself from the stress of going through a foreclosure. Time is of the essence as you are dealing with a short timeline. Once the foreclosure begins, it can be challenging to postpone it.
(Worried because of Covid-19 and the financial problems it brought for us? Connect with us. Our team can help you find the resources to save your home and stop the foreclosure. )
Because of the situation, it’s mandatory to work with the right buyer. For example, traditional buyers can’t finance a house in the pre-foreclosure phase. Their banks won’t approve the loan. A foreclosure might require “approval” from your bank. Permission is needed if you’re selling a house with negative equity. The house under consideration might require repairs.
Traditional buyers often desire property in great shape, and they will request that you make the essential changes before passing the keys. Finally, a conventional sale takes some time. It’s not a surprise to wait for 6 months before the house is sold. Market conditions are unpredictable. Consider the current situation, for instance. Because of the cold weather, the pandemic, and the elections, most people won’t buy a house. And here we’re talking about a foreclosure property. That’s why we emphasize the need to work with the right buyer.
What is the Ideal Solution?
Who is the right buyer? You may ask.
You have to sell a house urgently, and maybe the home’s condition is not attractive, but that doesn’t mean you have to compromise with a low bargain offer. Work with people who don’t take advantage of your situation and guide you on the right path.
At Fast Home Offer Utah, we buy foreclosure houses, but first, we help the homeowners. Do you want to keep your home? We can show you ways to stop the foreclosure.
Do you want to sell your home? We can give you an immediate, fair cash offer. Our team will see your home, and we’ll give you a fair cash offer. When buying a foreclosure property, we review your situation carefully. As real estate experts in Utah, we want to ensure that the foreclosure doesn’t hinder your future success. We want to save your credit score so that a foreclosure doesn’t appear on your credit report. Our team tries best to cover your costs and get you a fair price for your property. More than that, we treat you the way we want to be treated. You’re our client. Either by advice or a purchase, we want to help you, and we’ll only give an honest quotation for your home.