It's easy to get into a frightful state if money is lacking and you are starting to fall behind on your mortgage payments and no matter what you say your bank simply does not care. They want money and they want money now.
If you are in a position like this and you have lost faith that you will be able to pay anytime soon, repossession may look like the only option. It is thankfully not though.
Rather than having your house repossessed you can sell it for cash. This is much faster than selling it the normal route. First of all, when you sell your house for cash there won't be anyone requiring that you fix up your property, you can simply sell it as is. This obviously saves you time if you were thinking you needed to redecorate the whole place. And the reason why you don't have to is that when you sell for cash the buyers don't care what state the property is in, as they will make sure they pay for what it is worth as is. These aren't buyers that are looking to move in tomorrow, but rather investors that are looking to make money in the long run.
Secondly, the overall process when sell property for cash will be much quicker as you will have a company helping you with all the legal details, being able to make a legal sale as fast as within twenty four hours. When you sell a house on your own the legal details can take as long as a month and a half to draft up in worst case scenario.
If you sell your house the traditional way the main reason why it can take time though is the obvious fact that you might not find buyers straight away. If you sell for cash on the other hand it will be via a company that has access to a large pool of buyers and therefore can find a buyer quickly, often within twenty-four hours.
What you have to be aware of when selling your house for cash is that you won't get the same amount of money you would on the normal market. The reason people are willing to buy your property is because they have the money to hold onto it and sell it the regular way, but that means that they want something in return for their job. So when you sell for cash you can usually expect to get 80-95% of what your property is worth in its current state and in the current market.
Be aware of companies that offer you more than it would be worth on the cash market, as they are usually scammers that will rip you off later in the process. Either they do this by charging you massive amounts for the legal fees (they should be asking very little for this as they will be making money on your property, not your paperwork), or drastically reduce their offer just before the deal goes through, leaving you with little option than to sell to them as you won't have time to find someone else.
At TRP Properties we work with integrity and you can contact us today for advice when it comes to stop repossession of house, or getting a quote for your property.
Stop Your House From being Repossesed Right Now!