Foreclosure on your home is a difficult and stressful process to face – but it’s important to remember that it’s not the end of the line. One solution to get out of foreclosure from defaulting on your mortgage payments is to sell your home. Here’s some advice from our cash for houses Dallas team.
How Does Foreclosure Work?
Foreclosure is a legal process that happens in several stages. At each stage, the lender has to comply with different requirements in order to move the foreclosure forward. Much of this information will be in the mortgage deal that you signed. Usually, foreclosure starts when the homeowner is issued a Notice of Default after the fourth missed mortgage payment.
Why Sell Your Home in Foreclosure?
Essentially, selling your home will avoid the foreclosure process. By selling at the right price, you can repay your lender (including the missed mortgage payments) as well as cover any penalties and fees. This option also gives you more control as a homeowner. In foreclosure, the home is put up for auction to the highest bidder. In some cases, the accepted bid is low enough that the homeowner is still left owing money to the lender. By selling your home, you have control over the price of your property.
In some cases, the home may be worth more than what is owed by the homeowner, so there is the possibility that you can walk away with money in your pocket. While you will have lost your home, your credit will be unaffected and you won’t have to carry the burden of a foreclosure on your record, which will affect your ability to buy or rent a home, or apply for credit in future.
To Get Out of Foreclosure, You Have to Act Quickly
You are able to sell your home up until it is sold at auction, a period in which it is considered to be in “pre-foreclosure”. This is a very limited time period, so it is essential for homeowners who choose to take this route to find a real estate partner who understands their needs and circumstances – and, most importantly – who can deliver quickly.
Under these time limits, the traditional real estate process isn’t always the best route to take. Realtor fees in Texas and the Fort Worth area are high and will take a significant cut out of the sale. In addition, it takes a lot of time to find a buyer for a home and your urgent position could hurt you in the sales negotiation process.
So, what’s the fastest way to sell your home and get the most value for it?
Skip Realtor Fees in Texas – Choose Cash for Houses in Dallas and Fort Worth
The cash for houses process is a great option for anyone facing foreclosure on their home. Here, the process is simplified in order to get you the best value for your home as quickly as possible.
Instead of hiring a real estate agent to try and find a buyer, we buy your home directly from you. This means no real estate agent or realtor fees, and no waiting for financial approval on the buyers side. It also means that you can sell your home as is – you don’t have to spend any money on repairs or improvements to attract a buyer. Whatever the condition of your home, it’s price range or the area it’s in, we can assist you by offering you a fair market price.
What is the Cash for Houses Process? Speak to Shiny Key Properties
Here’s how our process works:
- You enter your information on our website
- We’ll contact you directly to discuss an offer for your property (you can also get a free property evaluation from our website)
- You can accept or reject the offer
- You can also call us directly on 469-858-0088
At Shiny Key Properties, our trained consultants have years of experience in dealing with foreclosures and assisting homeowners in selling homes quickly, and all your information is kept confidential at all times. To find out more about our cash for houses service and to sell your home today, contact us today and speak to one of our friendly team members. Click here to get a free home value report.