Hearing the word “foreclosure” as a homeowner can be incredibly stressful, but if you find yourself in the early stages of pre-foreclosure, you still have some control over the situation. While your first choice would understandably be taking steps to keep your home, if you know you can’t catch up on the missed payments or have experienced a change in finances that makes foreclosure likely again in the near future, selling your pre-foreclosure home is the way to go.
When Can You Sell Your Pre-Foreclosure Home?
From the moment you receive your first foreclosure notice until the foreclosed home is sold at auction, you have the opportunity to sell your home and avoid damage to your credit score.
How Can You Sell Your Pre-Foreclosure Home?
There are three ways you can sell your pre-foreclosure home:
- Sell the home with the help of a realtor. While getting a realtor may sound like a good idea, regular home listings take time to sell, and they require a home that is in good condition. In a pre-foreclosure situation, you need to move quickly, so waiting for potential buyers and delaying a sale to make repairs isn’t the best strategy. The home must pass 4-point inspection. The roof, HVAC, electrical and plumbing must be in good condition for the buyer to get insurance and a mortgage. The sale is also contingent upon the buyer getting the financing. Therefore, there may still be possible delays in selling to retail buyers.
- Sell the home in a short sale. Using the “short sale” method means you’ll be selling the home for less than what it’s worth. However, this option requires your loan representative’s approval, which may take time. Our qualified team can help with this option if this is the option you choose.
- Sell the home yourself. By far the quickest and simplest option is to take your pre-foreclosure situation into your own hands and sell your home at a price that will cover the full mortgage.
At Tampa Fast Home Buyer, we give fair, cash offers for pre-foreclosure properties in any condition. Call us to get a free and confidential offer on your home today. Unlike the big national companies, we do not charge fees whatsoever. There is no waiting period. We are much quicker in making decisions and closing on your home because there is no bureaucracy. Best of all, we can pay more than what big national companies offer since we do not have big overheads as they do!
