The Best Way To Sell A House In Pre-Foreclosure
The process of selling a house in a pre-foreclosure situation depends on a number of factors. Some of them are:
- Is the borrower/owner behind in the payments or simply struggling to keep up?
- Is the amount of debt higher than the market value of the property?
- Has the lender contacted the borrower/owner with an intent to foreclose?
- Is the property currently on the market?
- Is there already a sales contract in place?
- Is an adjournment needed or has one or two already been granted?
You Have Options
Although selling may be an option, a distressed property owner has some options. Those options are also dependent on how soon the homeowner acts when falling behind on payments.
Don’t wait to take action on finding a solution to your issue. Help is out there.
The biggest problem we see as a distressed property specialist is wasted time. There are timeframes inherent in the process, if the borrower/owner wants to get out of the situation with a minimum of damage to his/her credit.
In this situation, it is best to speak with a specialist who is certified and an expert in distressed sales. The right company and attorney can mean the difference between a successful “escape” from the situation or a long-standing blemish on credit.
We hope the above is helpful. Please don’t hesitate to contact us directly if you have any further questions or need assistance in selling your home.