Have you been late on your mortgage or even fallen a bit behind? We know that this can be a tough time and there are a lot of things going through your head. With the current economic situation, there will be a lot of home owners in similar positions. We wrote these tips to help you sell your Temecula house even if you are not caught up on your mortgage.
Time Is Of The Essence
If you have already received your notice of default it will be important to act quickly. Don’t procrastinate on this, selling your house may be the best option. The time is now to sell your Little Rock house if you are behind on your mortgage. When you talk with your bank/lender it is important to keep the fully up to date on everything that you plan to do. you may not be happy with them since they are threatening to foreclose on your home, but you need to find a solution and it is absolutely critical to keep them in the loop to give you more time. If you do nothing then you will likely fall into foreclosure. This does not mean that you will be let off the hook for your financial debt to the bank/lender. And in many cases, there are deficiency judgments, wherein the lender is still legally owed any remaining debt on your mortgage note after the lender receives the foreclosure sale proceeds.
Sell It Yourself
Undertaking the task of selling your Little Rock house if you are behind on your mortgage could be a good way to save you some money but there are many tings to consider. Selling real estate isn’t as easy as a handshake and an exchange of money. There is a long list of paperwork to be completed and timeframes to be met. If you do end up selling your home on the market for the price that you need, understand that there are contingencies in place to protect the buyer. Any repairs or issues with the home that are discovered after the closing, even if they are unknown to you, will put you at legal risk.
Listing With An Agent
Listing with an agent is another way to sell your Little Rock house even if you can’t pay your mortgage. If your property is in immaculate and ‘move-in ready’ condition then this could be a good option. If your property is need work, repairs, and touch ups, then this may not be the best option for you financially. In addition to the cost of fixing up the home, you will also have to pay the agent commissions, fees, and closing cost. When you are behind on your mortgage and already in a stressful situation financially, this option may ruin you.
Direct Home Buyers
When you are considering selling your Little Rock house if you are behind on your mortgage, selling to a professional home buyer may be the best option. There are many advantages to working with direct home buyers in this specific situation (nearing foreclosure and in debt). You can avoid the foreclosure process all together and get o with your life by selling your home directly for cash. The best part about all of this is there are no commissions, fees, showings of your homes, and direct home buyers buy properties as-is.
The best way to sell your Little Rock house is to Sunny Day Homes LLC, even if you are behind on your mortgage! Unlike traditional listings, you will have a guaranteed sale, a quick closing date you can rely on to avoid foreclosure. To learn more, send us a message or call (501) 400-0505 at any time!