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Sell Your House to Avoid Foreclosure in Philadelphia
Do you need to sell your house to avoid foreclosure in Philadelphia? Learn more about what you can do to stop the bank and save your credit in our latest post! Nobody wants to deal with foreclosure, but unfortunately, it happens to good people daily. While foreclosure rates are down to about 3.6%, people still lose 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. People in foreclosure often have other unfortunate things happening in their lives; dealing with the banks is the last thing they want to do. The good news is that with a fast sale of your Philadelphia 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 Philadelphia.
Sell It Fast
You have two primary options when you need to sell your house fast in Philadelphia. You can choose to list it and cross your fingers or opt to work with a direct buyer, guaranteeing a sale date and price. Sure, direct offers are usually less than houses on the MLS fetch, but you must consider that by working with a direct buyer, you won’t have to deal with repairs, commissions, or marketing costs. You will be able to sell your house fast in PA and walk away.
If you opt to list your house in Pennsylvania with a licensed realtor, be advised that it can be risky. If your home 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 to avoid being 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 home. Some agents 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 work with a direct cash home buyer such as Buying Property 215, they will likely be ready to close in a few days. That said, you will need to be prepared 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 things you aren’t taking with you.
You will also need to know where you are going. 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. 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 can find new housing. 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, try to stay with someone you know – for only a short time. 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 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 risk losing your home, it is better to be proactive about it than wait. While the process can take some time, letting you stay in the house for longer isn’t worth the damage that can be done to your financial future. By getting a direct, no-obligation top cash offer from Buying Property 215, you will be able to run the numbers and ensure you don’t lose your property to the bank.
- We can close within 14 days; no repairs or inspections are necessary!
- Receive the highest cash offer on your property.
- Pay no agent fees or commissions.
- The Better Business Bureau accredits our family-owned company with an A+ rating & 5-star Google reviews.