Sell My House and Avoid Foreclosure

How to sell your house and avoid foreclosure

In this real estate market, buyers are looking to buy houses at good prices.  This is a great time to sell if you have enough equity in your house.  You can set a low asking price and get a buyer within a few weeks.  If you are facing foreclosure due to a drop in income, this may be a great way to sell your house and avoid foreclosure.

If you do not have enough equity in your house, you may consider a short sale.  A short sale is when you sell your house for less than you owe to avoid foreclosure.  In this situation, the bank will need to approve the sale amount.  A experienced short sale Realtor or short sale investor can guide you through this process.

Short sales are becoming a very common way for homeowners to avoid foreclosure and help salvage their credit.  A short sale is much better than a foreclosure on your credit and may allow you to buy another home in a few years.  In addition to saving your credit, you are selling your house instead of letting the bank take it away from you.  It’s a win win situation.

If you are considering a short sale, due your research.  There are a number of realtors that claim to be short sale specialists.  Make sure to check their references and ask how many short sale transactions they have completed.  An experienced real estate investor is able to make an offer on your house and get the short sale process started much sooner than listing your house with a realtor.

If you’re not sure which route is best for you, contact local real estate agents or we buy houses people and get the facts.

Sell my home by myself

Are you thinking, how can I sell my home by myself?  If so, you’re one of a growing number of people that are looking to sell their homes and avoid high fees and commissions.

There are many types of flat fee or limited service companies around the country. While the programs differ from each other concept and services, each is designed to increase the MLS and public exposure of For Sale By Owner (FSBO) sellers. They allow you to avoid part or all of the commission if you sell the property yourself.  Some provide purchase and sale agreements and discount programs with title and escrow companies. You can pick and choose the style that is right for you.

A couple really good resources for FSBO sellers are www.fsbo.com and www.forsalebyowner.com. Also, if you know a local Loan Officer, they might be able to help you out with the open houses. In return, they get to pre-qualify all the people who come in.  This is a great way for the loan officer to get new mortgage leads and you get more exposure for your house.

If you want to do it yourself, you can always just print some brochures, advertise in the paper. However to get the maximum visibility you need to do an MLS listing. This is what real estate agents use. This is what you’ll see on realtor.com for example. When you use a realtor you get that listing.  You can do it cheaper by going to flat fee listing websites to do it yourself. You can usually buy a kit to put the outside brochures, lockbox, etc also from those sites. You can use this approach and pocket the fee or reduce the price to move your house faster.

If you need to sell your house fast, you may consider contacting a local we buy houses investor.

What does it mean to sell my house for cash?

If you need to sell your house quickly, you may consider contacting a local we buy houses company that will offer to buy your house for cash.  What does that mean?

What are the pros/cons of selling for cash?

The pros of  selling your house for cash:

• Fast close. The cash buyer is able to buy your house and close quickly.  Some cash buyers are able to close in just a few days.  All cash buyers are able to buy your house faster than a traditional buyer that may need to go to a bank and get a new mortgage.
• No new mortgage. Getting a new mortgage from a bank adds time and complexity to the sale of your house.  Banks required appraisals and inspections.  Also a bank typically will require 30-60 days for loan processing and there can be problems with loan documents at the closing table.
• Hassle free. A cash buyer just presents a check at closing.  There is not a bank involved so there won’t be any problems with funding or loan documents.

Cash buyers are great for selling your house fast.

Cons:

• A cash buyer has a limited amount of cash available to buy houses and may be only able to offer a price that is below your asking price.

How do I pay off my mortgage if I get cash?

Paying off your mortgage will be the same if you get cash or if you have a buyer getting a new mortgage.  Your cash buyer will bring a check to the closing table and your escrow or title company will use that money to pay off your mortgage.

Will it affect my credit?

It is exactly the same if you have a cash buyer of if you have a traditional buyer.  The advantage would be if you are missing payments, a cash buyer can close quickly, payoff past due late fees and help you sell your house before you miss any more mortgage payments.

Will I take a hit from the IRS?

If you sell your house for a profit, you may have to pay income tax on the profit amount but in most times there will be no hit from the IRS.

If you’re looking for a cash home buyer, vist our we buy houses website today!

How can I sell my house fast?

If you’re asking, how can I sell my house fast, you’ve come to the right place.  Here are some great ways to sell your house fast!

Clean and clear – The house needs to be extremely clean and clear of clutter.  New paint, new flooring, and new appliances can help to create a great feel to the house.  Also, curb appeal is very important so exterior paint and landscaping.  You may consider updating your front door to improve your buyer’s first impression.  A great smelling house will make it more attractive to buyers as well.

Home staging – One of the most economical thing to do is hire a professional home stager.  For less than your next mortgage payment, you could have your home professionally staged and start seeing offers within days.  A professional home stager looks at the entire property….from the curb to the interior.  They will address all areas….first impression, flow, lighting, cleanliness and smell.  Avoid

Below market value – Determine the market value for your home and what other houses are selling for in your area.  If you are able to price your home 10% below other recent sales, it is likely to generate a buzz from buyers.

Offer incentives – Offer a trip to Hawaii, a flat screen TV, anything that will help you house stand out from the rest on the market.  You need to sell your house fast, give your buyer an incentive to purchase your house and stop looking at the rest.

Contact a professional home buyer - A professional home buyer, or we buy houses company, is able to offer a creative purchase that will allow you to sell your house fast.  Take a look a this article, Why Should I Sell My House to a We Buy Houses Real Estate Investor.  You can get a fair price, avoid having to paint and clean your house, and sell your house fast.  Contact  a professional house buyer today to get an offer on your house.

How can you sell your house without a realtor?

Sell your house without a real estate agent.

You may be asking yourself, “Can I really sell my house without a realtor?”

The answer is Yes!  You can sell your house without a real estate agent in any market. There are a couple ways to sell your house by yourself.

1. List your house For Sale By Owner (FSBO).

When you want to sell your house by yourself, it can be a time consuming and frustrating process but you may be able to save thousands in fees and commissions. Here are some basis steps

• Put a sign in your yard and advertise your house for sale.
• Show your house to prospective buyers, and hope that one of those buyers will make an offer.
• Review any offers and accept the best offer.
• Find a title company that will help set up escrow and complete the transaction.

2. Sell your house to a professional real estate investor

By selling your house to a professional investor, you can avoid having to do costly repairs, get your house sold fast, and in most times the investor will cover all your closing costs and fees.  You can avoid having to show your house to prospective buyers, you can avoid having to clean up your house and fix up any minor or major repairs.  You can choose the exact date that you would like to move out and when you would like to close the transaction.

It’s easy to find a professional real estate investor in your area.  Look in the classifieds for a we buy houses company.  These are companies advertising to buy houses in your area.  Investors have private money waiting to be spent on houses like yours.  Check with the Better Business Bureau to make sure the company is in good standing and check the references of past clients.  Then sell your house fast, without a Realtor!