As we’ve seen, life can change in a blink of an eye when you lose a job, get a divorce, or grieve a loved one. 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.
Nobody wants to deal with the foreclosure process, but unfortunately, it happens to good people every day.
For example, just a few weeks ago, I got a call from an elderly homeowner whose husband passed away. She initially tried to rent the house — but then the renters left. She didn’t know what to do with the house. For one, she didn’t want to live in that house. Also, she couldn’t afford the extra payments. After talking to her and learning more about the property, we offered her a fair price. Within three weeks, we closed on the property and helped her stop foreclosure.
Now, that may not be your story — but the same is true. The good news is that with a fast sale of your Oklahoma City 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 stop foreclosure in Oklahoma.
Two Main Options
When you need to sell your house fast in Oklahoma City, you have two primary options.
You can choose to list it and cross your fingers or you can opt to work with an Oklahoma home buyer like us. We’ll guarantee you a sale date and sale price.
Not let me be clear — home buyers will offer less than what houses on the MLS could get.
But, the sale price is just one part of the picture. You must take into account the fact that by working with a home buyer, you won’t have to deal with repairs, commissions, or marketing costs. You will be able to sell fast and stop foreclosure.
If you opt to list your house in Oklahoma City, be advised that it might take some time. If your house doesn’t sell right away, the banks may be able to get to it 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, since any delay could cost you the deal and the house. There are agents who specialize in foreclosure sales, so 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 work with a home buyer such as McKinnon Home Buyers, we will 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 yardsale to quickly generate cash for the items you aren’t taking with you.
We’ve also worked with homeowners who just didn’t want to deal with any of the mess and left the house as-is. But, that’s your choice when it comes to working with a home buyer.
But, if this is your primary residence and if finances are tight, 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. A sale to a home 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, try to stay with someone you know – for only a short time of course.
Once the bank has begun its proceedings, it may be too late to do anything about losing your home. Your credit will be impacted, making it more difficult to buy another home in the future. It can take a lot of work to build your credit back up so if you feel you are at risk of losing your home, it is better to be proactive about it as opposed to waiting. While the process can take some time, letting you stay in the home for longer, it isn’t worth the damage that can be done to your financial future. By getting a direct, no-obligation offer from McKinnon Home Buyers, you will be able to run the numbers and ensure you don’t lose your property to the bank.
We might be a good fit or we might not. Regardless, we are here to help.
Let us help you sell your house to stop foreclosure in Oklahoma City! Contact us today for more information! 405-300-5817