You’ve decided it’s time to sell in order to avoid foreclosure. Or you’ve simply run out of time, and you need a fast solution! This article will help you decide the best next steps for your situation. Never forget the golden rule: DON’T WAIT!
If you are just jumping into this article, make sure to cover your bases by visiting our foreclosure home page.
You can save your credit and a lot of hassle by selling your house before the bank auctions it. In this process, you’ll want to work with trustworthy professionals who know the ropes of purchasing houses out of foreclosure — This is your home and family at stake! So you may be asking…
How does this work? Where to begin?
The first step is to find a buyer. In short, reach out to a realtor or go straight to an investor buyer (read here about selling via realtor vs FSBO) right away to help you evaluate your situation for the best strategy. If you are like many of the homeowners we work with, however, you want to know more about the options. The best decision is the informed one, after all, right?
**It should be noted that if you are on a strict timeline, you’ll need to go straight to an investor buyer who can take action right away to halt the foreclosure and begin discussions with the bank.**
Here are some of the primary options for how your buyer can ease your financial strain and help you avoid foreclosure by purchasing your house:
- You can stay in your home. Yes, believe it! You can sell to an investor who will take over your payments and let you rent from them for years to come, or perhaps live without rent or mortgage for a couple months while you transition into a new home.
- You can sell outright. Quick. Easy. Even fast. This is the basic solution that is the beginning of any conversation about selling your house to get out of foreclosure. Your buyer will pay off your loan and dig you out of the debt in a matter of weeks. Sometimes, you can even walk away with some cash in your pocket.
- Short sale. Perhaps you’ve heard of these before. This solution is applied when you owe more to the bank than the house is worth. It’s a long, complicated process where your buyer negotiates with the bank to release you from the chains of the mortgage!
Hopefully you’ve gathered more clarity on what you need to do. We’re cheering for you! If you have questions, you can give us a call any time at 615-455-5979. We are in the business of helping people and would be glad to help guide you towards your goal of resolving the foreclosure process.
If you are wondering “What is an investor buyer and where do I find one?” then look no further! That is, of course… Us! We can help you by doing all of the things mentioned above: halt the foreclosure, meet with you to confirm the best strategy, and even negotiate with the bank on your behalf. We may be able to let you stay in the home. We can help you get on the right track out of this difficult situation. But — the longer you wait to contact us, the fewer options we have as a team. Contact us anytime or call 615-455-5979.