Sell Your House to Avoid Foreclosure in Nashville
Do you need to sell your house to avoid foreclosure in Nashville? Learn more about what you can do to stop the bank and save your credit in our latest post!
Nobody wants to deal with the foreclosure process, but unfortunately, it happens to good people every day and in all income levels. While foreclosure rates are down to about 3.6%, people are still losing their homes to the banks. Life can change in a blink of an eye when you lose a job, get a divorce, or are faced with the loss of a loved one or severe illness. People in foreclosure often have other unfortunate things happening in their lives and dealing with the banks is the last thing they want to do.
The good news is that with a fast sale of your Nashville house, you will be able to stop the bank while avoiding the destruction of your credit. Keep reading to learn more about how to sell your house to avoid foreclosure in Nashville.
Sell It Fast
When you need to sell your house fast in Nashville, you have two primary options. You can choose to list it and cross your fingers you can sell quickly, or you can opt to work with a direct buyer, guaranteeing you a sale date and sale price. Sure, direct offers are usually less than what houses on the MLS fetch, but you must take into account the fact that by working with a direct buyer, you won’t have to deal with repairs, commissions, carrying costs, or marketing costs. You will be able to sell fast, avoid foreclosure, and walk away.
If you opt to list your house in Nashville, be advised that it can be risky. If your house doesn’t sell right away, the banks may start the foreclosure process or auction date is now before you have found a buyer. You will need to price the house to sell and make it as appealing as possible in your photos as not to be overlooked by potential buyers. You’ll want to find a buyer who will be able to close on the house right away as any delay could cost you the deal and the house. There are agents who specialize in foreclosure sales, if this is what you choose to do, it is best to work with a professional who knows exactly how to get things done.
Plan Your Move Now
When you decide to sell your house to avoid foreclosure and you wish to work with a direct buyer such as Southern Homes Investments Nashville TN, they will likely be ready to close in only a matter of days. That said, you will need to be ready too! You could hypothetically get an offer this week and close next week! If this happens, you will want to be ready to go. Figure out your moving logistics, costs, and where you plan to go. If you haven’t done so already, take some time to declutter. Throw things away that need to get tossed and consider selling some unused items to help with the sale. If the situation calls for it, you could even opt to have a yard sale to quickly generate cash for the items you aren’t taking with you and give the rest to Goodwill or ARC of Davidson County.
You will also need to know where you are going. If finances are tight or credit is low, buying a new home may be out of the question. Plus, it is unlikely you would be able to close as quickly as you would need to move in. That said, you may choose to rent if you sell your house to avoid foreclosure. You will need to be able to pass a credit check and come up with first, last, and security. If it comes down to it, ask family or friends to stay with them until you are able to find new housing and rebuild your credit rating.
A sale to a direct buyer can happen very quickly. If you are dealing with cleaning, packing, and moving, you may not have the time to find the perfect place. Instead of rushing into a place that isn’t right for you, instead, try to stay with someone you know – for only a short time of course. Check around in your community as well. There are often programs to help struggling homeowners get back on their feet.
Once the bank has begun their proceedings with a notice of foreclosure, you are very close to losing your home to foreclosure. If you are late one just one payment your credit is greatly impacted, making it very difficult to buy another home in the future. It can take a lot of work to rebuild your credit. A foreclosure can drop one’s credit 80 to 150 points! If you feel you are at risk of losing your home, it is better to be proactive about it as opposed to waiting and maybe losing the home at auction. While the process can take some time, staying in your house longer may not be worth the damage that is done to your financial future. By getting a direct, no-obligation offer from Southern Homes Investments, you will be able to run the numbers and ensure you don’t lose your property to the bank. Selling to an experienced real estate investor, you can stop foreclosure, but you must act now!
The key is once you have missed one or two payments and you know you cannot remain in the house, act now, contact the real estate investor. This will save your credit and offer a fast solution, only if you act now. Don’t give up because of worry and stress while letting the bank win, sell your house to avoid foreclosure. If you would like to read more about Southern Homes Investments Nashville TN please check out our website.
Let us help you sell your house to avoid foreclosure in Nashville! Contact us today for more information! 615-235-0612
Disclaimer: David Wright is a licensed real estate agent in Tennessee, and this article is not a solicitation to list your house.