When it is time to sell a foreclosed house, you must know that you are working with a deadline. The bank has already begun the foreclosure procedure and is preparing the necessary legal documentation. You must sell the property before your house is put up for auction.

The precise day that your home is put up for auction will depend on your bank and the specific circumstances, but when the foreclosure process begins, you typically have up to 30 days.

So, what do you start with? How to sell a property during foreclosure? Read on to find out. 

1.   Get an Offer 

Find out the property’s value and if selling it would allow you to pay off your debt to the bank. With that, our group can assist you. For you to clearly understand what you expect to earn from the sale of the home, we can provide you with a price for the instant worth of your property.

You may go to your bank and request that they put off the foreclosure due to the sale as soon as someone makes an offer for your home. This will prevent your home’s foreclosure and significant harm to your credit.

2.   Inform The Bank Immediately 

Lenders despise foreclosures. Foreclosing on a house costs money and takes time they’re unwilling to invest. There is a strong probability that they will be open to working with you to complete the sale if you let them know that you have a buyer who is ready to buy the property and that the house sale could be able to fulfill the mortgage’s requirements.

Short sales are what this is called. You are selling the property for less than it is worth in these transactions, but it’s crucial to remember that this spares the bank the headache of coping with foreclosure and prevents harm to your credit score.

3.   Close The Property in 30 Days 

After the bank is informed of the proposal, we may close on your property in 30 days or less while protecting your credit. We know that timing is crucial in your circumstance and that a speedy home sale is the most crucial factor. We don’t impose any customary charges while closing on your home.

We will never charge you for any expenses commonly connected to a house sale, such as inspection fees, realtor commissions, assessor fees, etc. Since all we require is the home, we eliminate all other extraneous expenses and fees to expedite the process and make it as quick and straightforward as feasible.

SellMyBuildings Can Help

We comprehend how distressing a foreclosure may be. You are being harassed by the bank’s overpayments or other properties, and other creditors may also contact you. We are prepared to assist. When confronted with foreclosure, we’ve assisted hundreds of locals in selling their homes, and we can do the same for you.

Call our staff at SellMyBuildings immediately if you have any concerns regarding the procedure, what to anticipate for your home or anything else related to the AS-IS home purchasing process.