What is a Distressed House in Kansas?
By: Dustin Burke
A distressed house is a property in poor condition and may face foreclosure, tax sales, or other financial difficulties. Distressed properties can be purchased at a discount, but they typically require significant repairs and renovations to bring them up to standard. If you choose a traditional home sale to sell your distressed house in Wichita, Kansas, you may not find a buyer.
The best way to sell your distressed house is a cash home sale. You can sell the property as-is for cash without hiring a real estate agent or listing the property. A cash sale also allows you to avoid making home repairs or upgrades. The buyer agrees to purchase the property in its current condition without contingencies. You can sell your house as-is and walk away with no strings attached.
Types of Distressed Houses in Kansas
Some of the most common types of distressed properties in Wichita, Kansas, include
A property that is in the process of being repossessed by the lender because the homeowner has defaulted on their mortgage payments.
A property where the owner sells the property for less than the amount owed on the mortgage, and the lender agrees to accept the reduced amount as full payment.
A property that the government has seized due to non-payment of property taxes.
Properties that their owners have deserted are often in need of significant repairs and renovations.
REO (Real Estate Owned) Properties
Properties that the lender has repossessed are now for sale.
Property is sold as part of the probate process following the owner's death.
Is it Possible to Sell My Distressed Property As-Is for Cash?
Yes, it is possible to sell a distressed house as-is. The property is sold in its current condition, with all its faults and defects. The buyer knows they will be responsible for repairs or renovations.
Selling a distressed house as-is can be a good option if you do not have the financial resources to make repairs or renovations. It can also relieve the pressure of selling your house if you do not have the time or desire to complete these tasks. It can be an attractive option for buyers looking for a bargain or prepared to take on a property that needs work.
Can a Cash Home Sale Help Me Avoid Bankruptcy or Foreclosure?
Selling your home for cash can help you avoid bankruptcy or foreclosure by providing you with a quick and reliable source of funds. If you are facing financial difficulties and are unable to make your mortgage payments, selling your home for cash can help you pay off your debts and avoid the consequences of bankruptcy or foreclosure.
Several benefits to a cash home sale make it the ideal solution to avoid foreclosure or bankruptcy.
- Sell your house for any reason, regardless of your circumstances.
- Make zero repairs or upgrades to the property.
- Skip the realtor and sell your house directly to the local home buyer.
- Close in as little as one to three weeks.
- Work directly with pre-qualified, committed home buyers.
Get a Cash Offer for Your Distressed House Today
If you need to sell your house but can’t find a buyer or don’t want the hassle of a traditional sale, contact blue Sky Properties. We buy houses as-is in Wichita, Kansas. Let us appraise your property and make an offer you can work with. Call 316-202-4249 to get a fast cash offer.