This is the third Express Homebuyers Blog in a series on how you can avoid foreclosure. Some of these options are more drastic than others, and they all come with unique advantages and disadvantages. We buy houses to help people out of foreclosure, so you know where we stand. But honestly, if you are facing a foreclosure situation, we believe you should be as informed as possible on the alternatives available.
Sell Your House Fast...Through a Realtor?
After Bankruptcy or Making Up Your Payments in a Lump Sum, another alternative to avoiding foreclosure is to contact a Realtor to help sell your home conventionally. It's the most solid alternative for selling your house, but you have to take your special circumstances into consideration.
As you are all too well aware in the present financial crisis, there are many homes on the market. Maybe even on your street! These may have been on the market for months, and these homeowners are going to face the taxes, fees and commissions that go along with selling your home through a Realtor. If you have the luxury of that kind of time and expense - say you have very high equity to regain - then a Realtor-assisted sale may be the option for you.
Realtors may have the best of intentions for you. However, bear in mind that they don't control the sale - like being able to assure you that their buyer actually has the ability to complete the sale. Well over half of home closings are delayed due to various reasons, such as financing issues on the buyer’s side. For example, if your closing is scheduled for October 31st and your home is set to be foreclosed on November 5th, but the closing is delayed for two weeks due to issues beyond your or your Realtor’s control, you will be forced to wait.
Normally, you can wait it out and finish the deal later. But facing foreclosure, you may risk losing your home.
Next time, we're going to discuss our own value proposition, selling your home for cash to a Better Business Bureau-certified company like Express Homebuyers. You can sell your house fast.