Can I Sell My House Fast to Avoid Foreclosure?
If you are behind on your mortgage payments and don’t want to stay in your house, you may feel that your only option is to file bankruptcy or let the house go into foreclosure. Trying to sell your house the traditional way can take months. You don’t have that kind of time if you’re already behind on your payments by several months. Fortunately, there is an option other than a traditional house sale.
You can sell your house fast for cash to a local home buyer in Wichita, Kansas. When you sell your house to a local buyer, you can close the sale in as little as seven days and walk away with no strings attached. You can avoid foreclosure, a short sale, or a distressed house. Plus, you pay no closing costs, realtor commissions, or repairs. It is the smartest option if you want to get out of your mortgage.
Understanding Foreclosure Laws in Kansas
The state of Kansas is known as alien theory state.Your house acts as security for the loan. The document that places the lien on the property is called a mortgage. When you get behind on your payments by at least 90 days or cease to make any payments, Kansas law allows the lender to take possession of the house and sell it at auction.
In Kansas, the lenders go to court in a judicial foreclosure proceeding where the court must issue a final judgment of foreclosure. The lender then sells the property in the public sale. A complaint is filed in court along with what is known as a lis pendens. This is a recorded document that allows the public to notice that the property is being foreclosed upon.
Notice of Sale
It takes 120-140 days to move forward with an uncontested foreclosure. This process may be delayed if you contest the action or file for bankruptcy. A foreclosure sale in Kansas requires certain notices. The foreclosure sale must be advertised at least once a week for three consecutive weeks.
The last advertisement cannot be more than fourteen or less than seven days before the sale. Notice of the foreclosure sale must be sent to the borrower at least five days of the first advertisement. The sheriff issues a deed after a sale is confirmed.
Right of Redemption
One way to avoid a foreclosure is by redeeming the property before the foreclosure sale. The pre-sale right to redeem is based on the idea that you should be given one last chance to keep your home, even if you have defaulted on mortgage payments.
Kansas has a right of redemption law that allows you to reclaim that property by making payment in full, including the unpaid mortgage payments and any late fees. There is a time limit of one year to fulfill the redemption requirements. If the court discovers that the property has been abandoned or damaged, the redemption period may be shortened or eliminated.
Request Your Fair Cash Offer:
How to Avoid Foreclosure in Kansas
Step 1: Contact Us: (316) 202-4249
Call us today and tell us about your property. We’ll schedule a quick walkthrough of your house. No need to renovate or prepare your home.
Step 2: Get a Cash Offer
If we are interested in buying your property, we’ll make a fair, no-obligation cash offer. We make most offers within 24 to 48 hours.
Step 3: We Pay Cash for Your House
If you accept our offer, you schedule a convenient closing date. We pay all closing costs and put cash in your hands in as little as seven days after closing.
Benefits of Selling Your House for Cash
You may be looking at options that help you avoid foreclosures, such as loan reinstatement, debt restructuring, bankruptcy, or forbearance. However, these options can only make matters worse. They require long, drawn-out processes in which you may have to hire a lawyer to challenge the bank. Plus, they may not solve the underlying problem: your inability to make the payments on your house.
A better solution may be to sell your house for cash to a local house buyer in Wichita, Kansas. There are several benefits to selling your house for cash, such as:
- Sell your house faster – in as little as 30 days.
- Avoid closing costs, realtor commissions, and marketing costs.
- We buy your house as-is with no need for repairs or renovation.
- Avoid showing your house multiple times.
- Save your credit by avoiding foreclosure.
When you work with a local buyer, you can unload your property quickly without incurring hundreds of dollars in selling costs. You can also get rid of your property before the bank takes over your house.
Sell Your House for Cash in Wichita, Kansas
Avoiding foreclosure is easier than you think when you sell your house for cash. Blue Sky Properties can assess your property, make a cash offer, and put money in your hands in as little as 30 days. Call (316) 202-4249 to schedule a quick walkthrough with one of our local house buyers. Sell your house fast for cash in Wichita, Kansas.