Behind on your mortgage? It can be a very stressful time for you and your family, both emotionally and financially. Realize that you are not alone; many families find themselves in this predicament. Read on to find out how to sell your home in Greenville even if you are behind on your mortgage.
Don’t Delay
If you find yourself among those currently in this position, don’t hesitate, especially if your lender starts calling that foreclosure is looming; selling your home may be the best option. Now is the time to sell your house in Greenville if you’re behind on your mortgage. Talk to your lender and let them know what steps you are taking. Keeping communication lines open is essential to avoid making mistakes as you take action to solve your problems. Failure to act leads to complex foreclosure processes. Don’t fool yourself into thinking that this means that you will not take on your financial obligations to the lender. And in many cases, there are deficiency judgments wherein the lender is still legally owed any remaining debt on your mortgage note after the lender receives the foreclosure sale proceeds.
Selling on Your Own
On the surface, undertaking the task of selling your Greenville house if you are behind on your mortgage may seem like a money-saving solution. There is a large amount of paperwork and several deadlines for filing documents related to real estate sales. Another difficult problem for you will be your home’s pricing; many people end up adding unrealistic value based on your emotional attachment to the property. Prepare for a financial outlay of up to thousands to bring your home on the market. If you sell the house successfully, you must understand that there are legal risks involved. Any significant repairs discovered after closing, even if previously unknown, could mean that you, too, will face legal troubles.
Real Estate Agent
Listing through an agent is another way to sell your house in Greenville even if you can’t pay your mortgage. Unless your property is in perfect condition, inspections may reveal repairs, renovations, and necessary upgrades. Realtors include a staging strategy at your expense as part of the overall marketing and advertising budget. In addition to these expenses, you will also pay commissions and closing costs. When they’re already struggling to stay afloat, their demands can set you back financially before your house sells. Remember that you have no guarantee of whether or even when your home will sell in traditional listings.
Selling Directly
If you are behind on your mortgage payments and are considering selling your Greenville house, selling directly may be your best option. It is important to consider the advantages of working with a direct buyer, especially when you have debt looming over your head. You get nearer to the deadline of foreclosure every day. You can be ahead of the lender and the foreclosure process by selling directly before it is too late—no interruptions in your life from showings, no pressure to keep everything spotless at all times. You will not be left under the gun by working with inexperienced buyers, backing out, and failing to close. None of the expenses of listing a home will come into play, including no real estate commissions coming off the top at closing.
The best way to sell your Greenville house is to Pitt Home Buyers, even if you are behind on your mortgage! Unlike traditional listings, you will have a guaranteed sale, a quick closing date you can rely on to avoid foreclosure. To learn more, send us a message or call (252) 227-0274 at any time!