Sell before Foreclosure Auction
Avoid Foreclosure we’ll buy you out. Thank you for reading thru this. We are here to share with you our knowledge and help you out. We have been selling and buying houses since year 2004 and have plenty of experience in the business. Here are some of the reasons why you want to avoid foreclosure on your record:
- You will not be able to obtain conventional credit for the next 7 years. What does that really mean for you? It means that if you want to purchase another property you have only one option – contract for deed. If you have never done one you need to know that contract for deed comes with a hefty % and if you miss a single payment the owner can revoke the contract and take possession of the property. Another option for you will be to rent for the next 7 years. It it really worth?
- As soon as the foreclosure is reported to all creditors your credit score most likely will drop with 200-250 points. Also most of the creditors such as credit cards, insurance etc. will most likely close your credit lines immediately. How will you pay your bills?
- If you owe more on your house than what the banks sells it for on Sheri’s Sale you will receive a 1099 from it asking you to pay taxed on the deficiency.
If you can’t make mortgage payments, many people try loan modification, which is a very time consuming process and based on our experience less than 5% of loan modifications get approved.
Some people also try to sell the home in a traditional way. Using a realtor and waiting 1-4 months for the home to sell passing inspection, the buyer to obtain financing and for the closing to actually happen and close. Realtors will charge you anywhere from 5-7% commission fee and you will have to really get your home in order. Fix broken things an issue that the inspector will find. Else the future buyer will deduct from the price or will require and escrow amount to be hold in the closing company in order for you to make the repairs. Can you really wait this long? How much time do you have? What is your redemption period?
There are so many questions and each case is very different than others. Call us or contact us and we’ll be happy to listen to your story, understand your case and propose the best possible solution for you.
We recommend to sell for cash or subject to existing loan balance to stop foreclosure. In either one of the cases we can buy your home from you or find an investor in 3 days that will do the same.
Call us, don’t wait. We have the answers and the means to help.