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    How Do I Sell a House to Avoid Bankruptcy or Foreclosure in Kansas?

    Nearly every homeowner in Kansas faces a late mortgage payment at one point or another. Sudden expenses, family emergencies, or lost employment can quickly cause a mortgage to spiral out of control. 

    While some late mortgage payments are recoverable through forbearance, loan modifications, or refinancing, you may not be in a position to catch up on your monthly installments. Furthermore, you may decide that it’s no longer worth it to keep the house and may look to a home sale as an option to get out of your mortgage. 

    If so, a cash home sale may be your best option when you need to sell a house to avoid bankruptcy or foreclosure.

    Blue Sky Properties Can Help You Get Out of Your Mortgage

    If you have late mortgage payments and are on the verge of bankruptcy, foreclosure, or a short sale, Blue Sky Properties can help you get out of your mortgage with a cash home sale. Whether you’re going through financial hardship or you have a distressed houses, we can

    1. Assess your property’s current market value
    2. Make a fair cash offer
    3. Close the sale of your house in as little as seven days.

    Blue Sky Properties is not a corporate investment company, a national chain, or a real estate agency. Instead, we are local home buyers here in Wichita that work with home sellers in situations similar to yours. We make a fair cash offer that you can work with and don’t try to lowball you or take advantage of your situation. 

    Below, we look at the challenges that sellers like you face when they get behind on their mortgage and why a cash home sale is the best option. Read more below if you want to avoid bankruptcy or foreclosure and start fresh with your fair to good credit intact.

    We Work with Home Sellers in All Types of Financial Hardships

    If you are like most people, you didn’t ask for your current financial crisis. There was probably little you could do to avoid it. Regardless, you can’t catch late mortgage payments. As a result, you may lose your house. 

    Regardless of your circumstances, Blue Sky Properties can buy your house and take away the burden of late mortgage payments quickly. We work with sellers in all types of situations including

    Foreclosure

    During foreclosure, the lender takes possession of your property when you defaulted on your mortgage payments. 

    Foreclosure typically involves a court process, where the lender seeks permission to sell the property to recoup your debt. If the property is sold, the proceeds are used to pay off the outstanding mortgage balance. Foreclosure can have serious consequences, including

    • Damage to your credit score
    • Loss of your house
    • Difficulty obtaining credit for a future home purchase

    Blue Sky Properties offers a fast, hassle-free solution to help you sell a house to avoid foreclosure. We specialize in buying homes as-is for cash, regardless of the condition or your situation. We make a fair cash offer, and close the deal in a matter of days, not months. You can walk away from financial distress, save your credit score, and move forward with a fresh start.

    Bankruptcy

    In Kansas, filing for bankruptcy may provide relief from your debts and may help you save your home. 

    Kansas has homestead exemption laws that protect a certain amount of equity in your home from being taken by creditors. However, the specific outcome will depend on your individual circumstances, the type of bankruptcy filed, and your home's equity.

    In other words, two things are not guaranteed:

    1. You will keep your house.
    2. Your mortgage debt will disappear.

    Filing for bankruptcy can help manage debt, but it typically does not eliminate a mortgage. Instead, the court will enforce a debt restructure, which can make your mortgage worse in the long run. 

    Blue Sky Properties offers a cash home sale as an effective solution if you’re looking to sell a house to avoid bankruptcy. By selling your house quickly for cash, you can eliminate the burden of mortgage payments and use the proceeds to pay off outstanding debts. 

    We buy houses as-is, which means you won't need to invest time and money in repairs or upgrades before selling. You can settle your financial obligations quickly and avoid the consequences of bankruptcy, such as a negative impact on your credit score or long-term payment plans.

    Short Sale

    You may have heard of a short sale as a better alternative to foreclosure or bankruptcy. However, a short sale can be detrimental to your finances and credit score.

    A short sale in Kansas is a real estate transaction where you sell your property for less than the outstanding mortgage balance. You may consider this option if

    • You face financial hardship
    • You’re struggling to make mortgage payments.
    • The home's market value has decreased significantly.

    Blue Sky home buyers offer a quick, hassle-free alternative to short sales. We buy houses as-is for cash, allowing you to bypass the lengthy and often complicated short sale process. With our expertise, we can assess your property, make a fair cash offer, and close the transaction in just days, not months.

    Selling your house for cash saves you from the uncertainties of finding a buyer willing to purchase at a reduced price. By choosing us, you can protect your credit score, reduce stress, and move forward with financial freedom.

    Distressed House

    The term ‘distressed house’ can refer to different types of situations.

    In your situation, a distressed house is a property where you face financial difficulties, such as late mortgage payments. If you keep missing payments, the lender may initiate a foreclosure process to recover their investment. Your house becomes distressed in the late stage of foreclosure where the property is headed to auction.

    The good news is that a cash home sale is a quick real estate transaction we can make to keep your property from going to auction and help you sell your distressed house fast.

    For example, a traditional home sale can take 60 to 90 days to complete, not including the prep time and the closing process. In contrast, we can close the deal in as little as seven days - in some cases, faster. Our home buyers can bring an auction to a halt and help you get out of your mortgage while still satisfying the lender’s demands and paying the debt.

    Learn More About a Cash Home Sale

    As cash home buyers, we offer a simple, stress-free alternative to traditional real estate transactions. A cash home sale is a process where we purchase a property directly from you using cash, rather than relying on financing from banks or other lending institutions.

    • We can expedite the closing process and help you move on from your property with ease. This is particularly beneficial if you’re facing financial difficulties. 
    • We buy properties as-is. You don't need to invest time and money in repairs, renovations, or staging before selling. We understand that every property is unique, and we evaluate each one individually to determine its value and potential. You can save your resources and plan on your next steps.
    • We're also more flexible when it comes to closing dates. We can work with your schedule and adjust the timeline according to your needs. Flexibility is beneficial if you need more time to move or find a new home.

    What are the Advantages of a Cash Home Sale Over a Traditional Home Sale?

    Faster Closing Process

    One of the main advantages of a cash home sale over a traditional home sale is the speed at which the transaction can be completed. This can be especially beneficial if you need to sell your property quickly due to financial hardships, relocation, or other time-sensitive circumstances.

    Sell Your House As-Is

    We purchase properties in their current condition, which means you don't need to invest time and money in repairs, renovations, or staging. This can save you time and money while simplifying the selling process.

    Fewer Contingencies and Obstacles

    Cash home sales typically involve fewer contingencies than traditional sales, as they are not dependent on buyer financing approvals, appraisals, or home inspections. It reduces the likelihood of deals falling through and provides greater certainty for both parties. Additionally, with fewer obstacles, the transaction can proceed more smoothly and with less stress.

    Greater Flexibility in Closing Dates

    We can work around your schedule and needs. Whether you require more time to move or find a new home, or need to close the deal as quickly as possible, we accommodate these preferences. This flexibility can make the transition to a new home or living situation more manageable.

    No Financing Hurdles

    In a traditional home sale, deals can fall through due to financing issues, such as the buyer failing to secure a mortgage or not meeting specific lender requirements. In a cash home sale, this risk is eliminated, as we already have the necessary funds to complete the transaction. It gives you peace of mind, knowing that your home sale is more secure and less likely to encounter unexpected setbacks.

    Sell Your House Fast in Wichita, Kansas

    If you need to sell your house fast but don’t want the hassle of a traditional home sale, contact Blue Sky Properties. We buy houses as-is. No repairs are needed. Avoid closing costs and realtor commissions. Close in as little as seven days. Call 316-202-4249 to get a fast cash offer from our local home buyers in Kansas.

    Frequently Asked Questions About Cash Home Sales in Kansas

    How quickly can you close on a cash home sale?

    We can typically close on a cash home sale much faster than traditional home sales, often within a few days, depending on the specific circumstances and the homeowner's preferences.

    Do you buy properties in any condition?

    Yes, we often buy properties in any condition, as-is. Homeowners don't need to invest time and money in repairs or renovations before selling, which simplifies the process for them.

    Can a cash home sale help me avoid foreclosure?

    A cash home sale can potentially help you avoid foreclosure by providing a quick and hassle-free solution to sell your home and settle outstanding debts with your lender.

    If I am facing bankruptcy, can a cash home sale help?

    Selling your home for cash can provide financial relief and possibly help you avoid bankruptcy by using the proceeds to pay off outstanding debts. However, it's essential to consult with a financial advisor or bankruptcy attorney to determine if this is the best option for your specific situation.

    What are the fees associated with a cash home sale?

    Cash home sales often have fewer fees compared to traditional home sales. We usually cover most, if not all, of the closing costs, which can save homeowners money during the transaction.

    How does the cash home buying process work?

    The cash home buying process typically involves an initial consultation, property assessment, a cash offer, and closing. We work with the homeowner throughout the process to ensure a smooth and stress-free experience.

    Do I need a real estate agent for a cash home sale?

    No, you do not need a real estate agent for a cash home sale. We handle the entire process directly with you, eliminating the need for an agent and their associated fees.

    How do you determine the cash offer for my home?

    We assess each property individually, considering factors such as location, condition, market trends, and comparable sales in the area. Our goal is to provide a fair and competitive cash offer based on these factors.

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