Are you wondering whether or not you can sell off your home if it is already in foreclosure? Well, now that your home is on the verge of being foreclosed, this implies that you’ve missed paying several months of your mortgage installments or you might have incurred a whole lot of attorney fees for this constant delinquency.
No matter which stage of delinquency you are in, it is natural that you’ll feel disappointed, sad and suffer from a sense of panic. All you could wonder is, “Can I sell my house fast Orlando?”
The best advice given to sellers facing foreclosure in Florida or Orlando is to not wait till the eleventh hour, when the foreclosure is just 30 days away from the date of sale. Get in touch with real estate agents who can navigate the sale of your house beforehand so that you could avoid foreclosure. Keep reading to know more on selling a home in foreclosure and your options.
Pre-foreclosure – Is it possible to sell your home?
You might feel that the only option left for you is to allow the bank to seize your home and accept the process of losing your home. However, till the time your house is finally put up for sale in a public auction, did you know that you still have the right to sell it off as per your own wish?
Before the lender forecloses the property, your home is said to be in a state of pre-foreclosure. This is the time period when you have the chance of working an agreement with your lender on satiating the mortgage payments. However, if you’re considering selling off your home, you have to pay off the pending fees and penalties apart from the mortgage payments that you owe.
You need to openly communicate with your lender and inform them that you’re working with them to sell off your home to pay back whatever you owe. On hearing this, they may find it a worthy alternative to procrastinate the foreclosure process and give you enough time to look for a worthy buyer. Once your lender gives you time, you get a great opportunity to put things in order.
Is the pre-foreclosure process easy for all?
In the state of Florida, foreclosure is more than just a sale – it is a judicial matter. The lender has to go through a complex procedure of filing a lawsuit for being able to foreclose a property. This is a rather tough process for the lenders, in fact, they would be happier if you could simply pay off the amount that you owe. If you proceed with things in this mindset, this will let you work out a deal where you can avert a major hit to your credit score.
If you opt for a conventional sale of your house, you have to get hold of a realtor and keep a tab on all the related costs like commissions and closing fees. And if you are searching for a realty company that can facilitate the sale of your house before foreclosure, then opt for someone who is a direct cash buyer as this will be a perfect fit for you.
Therefore, if you’re someone who has been wondering about a pre-foreclosure sale of your home in Florida, you can keep in mind all the above-mentioned details. Contact a trustworthy real estate agent who can settle all your debts with the lender and help you move on with a successful life. They will be more than ready to help you.