Financial woes can strike at any time, often resulting in home foreclosures for residents within the Richmond area. If you’re behind on mortgage payments and looking for financial relief, you might consider selling your property to pay your mortgage lender. The question you might ask in this situation is, “Can I sell my house to avoid foreclosure?”
The Red Door Guys can answer this question. We buy houses in Richmond, VA, for cash at fair prices as an alternative to traditional home-selling. Our professionals have years of experience working with homeowners of all backgrounds and varying financial situations.
Learn more about selling a house in foreclosure below.
Can You Sell a House in Foreclosure?
The short answer to “Can I sell my house to avoid foreclosure?” is yes. A property foreclosure can be devastating due to the lasting damage it can cause to a person’s financial status and credit score. Still, selling your house for cash and avoiding the traditional home sale process can get you the funds you need to pay off your defaulted home loan and preserve your financial future.
The amount you get from the sale depends on whether your home has equity and if the property’s sale price is more than the balance on your mortgage. Unlike short sales that yield home sales far below their market value, selling your house to a cash buyer can grant a fair price for the property.
Why You Should Sell Your House for Cash and Avoid Foreclosure
Nobody wants to go through a home foreclosure and eviction. Mortgage lenders will send notices if you miss a certain number of monthly payments to give you time to catch up. If you can’t make the payments, the lender will take ownership of the property through foreclosure and sell it at an auction to recoup their money.
Selling your house before that auction can be the answer to your foreclosure problems, especially if you complete a quick sale for cash. This process offers several benefits including:
- The Option To Sell the Property As-Is: A fast home sale for cash means you won’t have to make repairs, renovations, or upgrades.
- No Need To Hire a Real Estate Agent: Finding a real estate agent to work with you takes time and money that you might not have.
- Fast Offloading of the Property: You could complete your home sale in seven days or less.
- Committed Cash Buyers: With a cash sale, you won’t have to search for a qualified buyer who might back out of the sale. Those who buy houses for cash ensure smooth, hassle-free transactions for their clients.
Sell Your Richmond Property Fast With The Red Door Guys
You don’t have to wonder “Can I sell my house to avoid foreclosure?” with The Red Door Guys. Our Richmond, Virginia-based company buys unwanted properties in any condition, even if they’re in pre-foreclosure. We can offer a fair price and close on your home sale in as little as seven days without taking commissions or mandating repairs.
We buy homes for cash fast and without obligation, so call (804) 395-7355 to get a cash offer today.