If you are going into foreclosure and know you have to sell your house, you may ask, “Will I be able to sell my house fast?” In today’s economy, many sellers have wait for many months to sell their house. There is a glut of homes on the market, so asking if it’s possible to “sell my house fast” may present some challenges.
One of the challenges is that the financing for homes has gotten so tight, only the highest rated buyers can qualify. If you are lucky enough to find a buyer for your house, you may have to sell it at a deeply discounted price. In addition, if you are in a situation where you need to sell your house fast, you can’t afford to sit and wait for a buyer find your home out of all the homes available, nor can you wait for the buyer to be qualified so you can close. With the low interest rates, it is a buyer’s market, but the problem is the majority of buyers can’t qualify, because the lenders aren’t lending.
If you are going into foreclosure, that presents another challenge… Time. You have to make a move now. You can’t afford to wait, or the lender will sell your house at auction in just a few short weeks. What do you do? Can a real estate agent sell it for you in a few weeks? Not in today’s market. It takes months and sometimes a year to sell a house in the current market. Can you sell it yourself in a few weeks? Probably not. You will be under the same time constraints as a realtor. What can you do?
The answer is to sell your house through a professional real estate investor. A real estate investor will work with anyone who wants to sell their property, no matter what their situation. If you are in foreclosure but have equity in your home, a real estate investor can offer you a fair price, which is usually 10-20% below the market value, and you can close in about 10 days with cash in your pocket.
If you are in foreclosure and owe the bank more than the value of your home, an investor can still buy your house through a process called a short sale. A short sale is an agreement between you, the investor and your bank, which allows the investor to buy your house at less than the mortgage on your house. Banks will approve about 90% of short sales, because it will be less costly for them than selling your house at auction. Unfortunately, if you owe the bank more than the value of the house, you will not be able to receive any cash from the sale.
Real estate investors are professionals. They understand that unfortunate situations can happen to anyone, and they can offer you a way out of your problems. The differences between real estate investors and other methods of buying homes are:
• Real estate investors will buy your home for all cash, take over your payments, or buy your home through a short sale.
• Investors will buy your home in an “as is” condition. You don’t have to make any repairs, paint or landscape.
• Most real estate investors will make you a firm offer in about two days.
• Real estate investors will close on your schedule, not theirs, usually in about 10 days.
If you are going into foreclosure, or are already in foreclosure and need to sell your house fast, call 1-800-Sell-Fast, the sell my house fast company. We can help.