Can you sell a house in pre-foreclosure in Oklahoma City?
Foreclosure is a serious deal but with the right help you can turn a bad situation into a good one. Surprisingly, when most people go into foreclosure they end up letting the bank take back their home, causing them immense stress during the process and ultimately ruining their credit for years and years. It doesn’t have to be this way though.
We are a local company that buys houses in Oklahoma. A lot of the folks we buy homes from are facing foreclosure. One of the main questions we get as soon as the bank serves them the first court papers is….Can you sell a house in pre-foreclosure in Oklahoma City? The answer is YES, YES, and YES!
It doesn’t matter if your house needs $100,000 in repairs. It doesn’t matter if you actually owe MORE than your house is worth. There is another way.
If you are wondering, “Can you sell a house in pre-foreclosure in Oklahoma City?” then please read on so we can show you how to do this. There are really 3 ways you can sell your house in pre-foreclosure here in OKC. We are going to explain to you the best option, the good option, and the worst option if foreclosure is on your doorstep….
The BEST option – sell the house to us outright
This option is pretty easy. We are a company that buys houses, we’ll buy your house. The only requirement is that you have equity in the house to be able to sell it. If your house is worth $100,000 and you owe $98,000, you won’t be able to sell it to us outright. This is the best option you have though as you will avoid foreclosure all together. If you want to sell your house in pre-foreclosure today, call us at 405-673-4901. We’ll take a look at it and make you an offer. If our offer doesn’t work for you, we can put the house on the market for you to find a buyer to pay more OR you can do one of the following options below….
The GOOD option – sell your house to us through a short sale
A short sale is when the bank agrees to let you sell your home in pre-foreclosure for LESS than what you owe. In doing this the bank will also agree to wipe out your whole mortgage. Why would a bank do this? Well, it costs the bank a lot of money and time to legally foreclose on you and take your home back. Often times, it can be a year or two before the bank takes a home back and is able to sell it again to recoup some of their money. That is why a short sale exists. It is sort of like you and the bank agreeing that you can’t or don’t want to pay on the house any more and the bank doesn’t really want to spend the time and money to foreclose on you so a mutual agreement is reached to just sell the house, getting both you and the bank out of the situation. We help people work through a lot of short sales each year.
Short sales don’t cost you anything and in most cases you can actually walk away with at least a few thousand dollars at closing. We typically take care of all the work and negotiations with the bank also you really don’t have to do much sign some paperwork and keep the house in one piece. If you are interested in seeing if a short sale is the right option for you, call us today at 405-673-4901.
The WORST option – let the bank take the house back
This happens more often than it should. People get behind on payments, the house needs repairs, they don’t have any equity to sell it so they assume they’ll just let the bank take it back. Or, they don’t know any other options or think it will take too much time and hassle to find another solution. Letting the bank take the house back is the worst option. Not only will they forcibly kick you out and lock the doors once they get the house, your credit will also be ruined for years. We strongly suggest you avoid this option and talk to us first to see if we can help you sell your house in pre-foreclosure first.
So, there you have it. We’ve given you some options to sell a house in pre-foreclosure in Oklahoma City. Hopefully that helps. If you have questions about your unique situation, just call or text us at 405-673-4901. You can also simply fill out the form below and we’ll contact you within 24 hours.