Are you currently facing a foreclosure? Not sure how to sell your home fast for cash before your home is auctioned off? In this article, we will show you how to sell your house fast when you are going through foreclosure
Regardless of popular opinion you CAN sell your home when facing an impending foreclosure. The first thing you need to do is layout what options you have.
You can sell your house by:
- Selling with an agent – This process can take a little longer since you will have to find a buyer who is willing to take on the debt of the home. This can be a very tough process when you need to sell fast. Since you are facing foreclosure, you may need to lower the fees and closing costs in order to find a likely buyer.
- Selling your home yourself – You can save money on expensive realtor commissions by selling your home yourself. Now this may take a little bit longer and if time is of the essence, this might not be the best option for you.
- Selling your home to real estate investors – Finding a real estate investor who will pay you cash for your home is one of the fastest and easiest ways to sell your home when facing a foreclosure.
You are probably going to want to take time to think about these options before making a decision. Selling your home isn’t something that you want to make a rash decision on. Below we will go into further detail of each of your options so you can make the best choice.
Finding An Agent To Sell Your Home Fast
Ok, so you have most likely talked to your family and friends by now about your current predicament. More than likely, someone, or multiple people have told you that you need to find an agent now.
How do you know what agent will get you the best deal? There are many agents who are willing to work with people for a lower commision. The main thing you need to consider, is that your home can still be foreclosed on while trying to sell your home. If you decide to go this route, you need to speak to several agents in your area before working with a particular one.
Selling Your Home Yourself
If you decide to forgo finding an agent and want to sell your home yourself, you need to speak with your lender. Make sure that your lender will agree to a short sale. A short sale is an agreement between you and the lender. The lender will agree to having the mortgage paid off for a smaller amount than owed, oppose to going through the pain of a foreclosure process.
Now that your lender has agreed to a short sale before foreclosure auction, how do you find the buyers? One of the best ways to go about finding buyers is posting a listing in your local newspaper. Many papers have sections that allow you to list your home for little to no charge.
You can also use sites such as Zillow and Trulia to sell your home. I have known some friends to advertise their home on craigslist as well.
Just like when you get an agent to sell your home, you need to understand that this does not stop the foreclosure process from happening. Yes, even though your lender agrees to a short sale, the bank may still decide to foreclose on your home.
Selling Your Home To A Property Buyer
Real estate investors are by far the best options for making a fast sale on your house prior to foreclosure. ABQ Property Buyers are specialized in buying homes they need to be sold quickly. We have been in the Albuquerque, NM area for over three years now and have helped many families that have been in similar situations as yourself.
By now, I hope you will be able to make an educated decision on how to sell your house fast when you are going through foreclosure. If you need any help at all, contact ABQ Property Buyers today for an appointment with our experienced staff. We are to help you get cash for your home fast.