If you’re looking for a solution to a difficult financial situation, you may wonder, “Can you sell a house in foreclosure?” At Professional Home Buyers, we buy houses in Wichita, KS, no matter the condition or circumstances. Whether you lack home equity or can’t pay your outstanding loan balance, count on us for a fair cash offer.
What To Consider When You Consider Selling a Foreclosed Home
You can sell a home during the foreclosure process but should account for the following.
Complete the Sale Without Delay
If you’re planning ahead, you may know the foreclosure is looming but are still seeking solutions. Consider a pre-foreclosure sale, which won’t damage your credit and may allow you to capitalize on some of your equity. This can help you avoid a lengthy and problematic process.
Once you’ve missed 90 days of payments, selling the home becomes more difficult. Eventually, it will go to auction. This usually results in a short sale option, where the price is less than the home’s value.
Consider the Additional Requirements of the Sale
If you’re selling during foreclosure, you’ll need the mortgage lender’s approval. Sometimes, your intent to sell the home can help you negotiate better terms. They may agree to pause the foreclosure process until you resolve the sale.
Can you sell a house in foreclosure? You’ll need a buyer willing to address any liens or other outstanding legal obligations. Understand that these issues can significantly impact your ability to find a suitable offer.
A Reputable Cash Buyer Can Make the Process Hassle-Free
When you find the right cash buyer, you can take advantage of a quick sale that helps you avoid the headache of the foreclosure process. It comes with several benefits.
You Won’t Risk Lowball Offers
When you’re trying to sell a home during foreclosure, you’ll encounter opportunists looking to make a quick buck. Find a cash buyer with a strong reputation for acting in the seller’s interest. They should approach the process more like a partnership than a simple business transaction.
The Buyer Could Close in Just a Week
While a sale during foreclosure may take a few extra days for mortgage lender approval, a cash buyer can often close in a week. This becomes even more beneficial during the pre-foreclosure period when you’re on a tight schedule to save your credit and equity. The right cash buyer lets you set the closing date.
You Won’t Invest Any Additional Money
When you try to sell your home the traditional way, you pay commissions, closing fees, and more. This often leads homeowners with little equity to lose money on the sale. The best cash buyers handle all these expenses, so you keep 100% of the offer.
Obtain a Fair Cash Offer From Professional Home Buyers in Just 24 Hours
Can you sell a house in foreclosure? Professional Home Buyers make the process of selling without a realtor fast, fair, and easy. We’re not afraid of foreclosed homes and give offers within 24 hours of first contact.
Start the process by calling (316) 202-1628.