How to sell a house BEFORE foreclosure

Need to sell a house before foreclosure?

We have good news and bad news….

Good news: We can help! Our business is buying houses, fast and as-is, in any situation. We know how foreclosure works. Call us today – 405-673-4901.

Bad news: 75% of the people that call us who need to sell a house before foreclosure are too late. They waited too long and either their house is going to auction tomorrow OR the amount of their payoff is too much after considering all the fees the bank charges to sell a house in foreclosure (attorney fees, interest, interest on top of interest).

Don’t be one of those people that are too late! Call us. If we can help we will. If we can’t we’ll tell you what options you have left. Below are some quick tips on selling a house before foreclosure.

How do you sell a house before foreclosure?

Selling a house before foreclosure isn’t too hard and it saves you a ton of money as well as helps you avoid a big hit to your credit score. So what is the trick to selling a house before foreclosure?

Accept an offer as early as you can once you know you are in foreclosure or headed that way. 

The bank doesn’t want to take your house back but they won’t stop the foreclosure process unless you have a legit, written offer from a buyer to sell the house. Often times, they will hold off or slow down if you have a buyer ready to purchase the house and put a stop to the foreclosure.

SO, here is what you do in 3 easy steps: 

1. Call your lender and figure out what you owe on the house – your actual payoff including all foreclosure costs, late payments, and other fees
2. Call us to come look at the house – we’ll need to see it to know what shape it is in
3. Agree on a price for us to buy the house – we take care of all the paperwork and close on date of your choice

That’s it! Whether you are 6 payments behind or just missed one and feel you might miss more, call us today. Don’t wait!!!

How do I figure out how much money I owe?

Call your lender. Ask them this….exactly this…..”what is my total payoff for my mortgage including any late payments and fees?”

This is important to know because it changes every month when you are IN foreclosure. The bank will add interest to your late payments, late fees, and their foreclosure attorney fees get added into what you owe them if you sell the house. Longer you wait, higher the payoff is, and the less chance there is you can sell before foreclosure. This only applies to people that have missed a few payments and their lender has already started the foreclosure process.

If you have missed 1 payment or a few and your lender is only sending you warnings that your payments are late, you are in a good position. The lender won’t add on a lot of fees if you do sell right now. However, you have to act quick because once they file a foreclosure case with the courts, your payoff goes up and the clock really starts ticking.

If I sell my house before foreclosure, how long do I have to move?

Some people start going into foreclosure and move immediately. They abandon ship because they know where things are going and are ready to move on. If you are still living in your house and headed into foreclosure, we will buy your house and give you some time to stay in the house afterwards so you can find a new place. 

We know moving sucks. It takes a lot of time especially if you have a family. Normally we give people 30 days at most after closing. In special cases, we can make arrangements for longer time periods. If you do want to stay in the house after foreclosure, we ask that you sign a lease so that we are both protected by the Landlord-Tenant laws if anything happens.

Main point here is we work with you to make the situation as easy as possible. If you need time in the house after selling, we give you time.

Hopefully this information has helped you figure out how to sell a house before foreclosure. Again, whether you have missed 1 payment or 10, call us today so we can all be ready. If you want to reach us you can call or text at 405-673-4901. You can also just fill out the form below and we’ll reach you within 24 hours.