How to Sell Your Distressed House Before the Bank Does
By the time your house goes to auction, you are in the late stages of foreclosure, with few options available. You may believe that there is nothing you can do to save your house or sell it to pay off your debt.
However, regardless of where you are in the foreclosure process, you may be able to sell your distressed house fast and stop the foreclosure altogether. Below, we look at how to sell your distressed house before it goes to auction - and what you can do after the auction.
What Is a Distressed House in Kansas?
A distressed house is a house that is on the verge of foreclosure. The property is in the late stages of foreclosure and is ready to go to auction. The house is ‘distressed’ because once it reaches a certain phase, it is almost impossible for you to recover the property.
Three main things cause a house to become distressed.
- The bank submits the foreclosure claim and proceeds to repossess the house.
- The bank can’t sell the house and ends up owning it.
- You agree to a short sale to get out of the mortgage agreement.
Can I Sell My House During Foreclosure?
Yes. You can sell your house during foreclosure.
While it may be easy to think that the bank is eager to take your house, lenders want to avoid foreclosure as much as you do. Too many foreclosures on the books are not good for any lending institution. Plus, they don’t want to deal with selling or owning the house.
Why is this important? Because if you can sell your distressed house fast and get the cash to pay off the remaining balance, the bank will likely be happy to work with you. Even if your house is in the late stages of foreclosure, the bank will be flexible enough to reverse the process and stop the foreclosure if you sell your house.
What is the Fastest Way to Sell a Distressed House?
The fastest way to sell a distressed house is to sell it for cash to a company that buys houses in Wichita, Kansas. A cash sale is simple and only requires a few quick steps.
- Step 1: Contact a company that buys houses in Wichita.
- Step 2: Schedule a quick walkthrough of the property.
- Step 3: Get a fast cash offer in 24 to 48 hours.
- Step 4: Agree to the offer and schedule a closing date.
- Step 5: Sign the paperwork and get a check from the buyer.
Working directly with a buyer allows you to sell your house as-is for cash without hiring a real estate agent or listing the house on the market.
Why Can’t I Just Sell My House the Traditional Way?
If your house is a time-sensitive issue, finding a buyer the traditional way may not prevent foreclosure. On average, it takes 60 to 90 days to find a buyer.
A cash sale directly to a professional home buyer speeds up the process considerably. On average, selling a house for cash takes seven to 21 days. Why so fast? You eliminate the needless steps to a home sale - no repairs, inspections, marketing, showings, etc.
Best of all, it costs you nothing to sell the house! You pay no closing costs or realtor commissions.
Don’t Wait Until It’s Too Late. Contact Blue Sky Properties Today to Sell Your Distressed House
Your situation may not be too late to sell your house. Contact Blue Sky Properties today at 316-202-4249 to get a fast cash offer. Let us help you sell your house in Wichita, Kansas.