If you are trying to sell your County Durham house to avoid repossession, this post is for you! In this, post we shall discuss how to stop the bank from foreclosing on your house and fix your credit!
Repossession is down to 3.6% but it still happens every day to good people for a variety of reasons. No one likes the pressure and stress of going through the repossession process because it usually happens after something terrible has already occurred. Death of a loved one, a divorce, or the loss of a job is among the top reasons why people get into a repossession scenario. Needless to say that the last thing people want at this stage is to deal with the banks.
Thankfully, there is a way to sell your house to avoid repossession in County Durham. Read on to understand how you can sell your County Durham house quickly to stop the bank in its tracks and keep your credit intact.
Quick Selling is the Key:
Selling your County Durham house via Rightmove and Zooplamay fetch some extra cash but you run the risk of enduring a lengthy sale process. With foreclosure looming, such a risk is better avoided. If you work directly with an investor, you will get a lesser quote on your house but an immediate sale date and sale price is guaranteed. If the sale process gets stretched, not only do you incur bills on the house but also run the risk of losing it to banks.
In case you do want to go via County Durham agents, you need to doll up your house by cleaning and fixing everything possible before listing. Ensure you put appealing professional quality photographs that catch the buyers’ attention in a jiffy. You have to price it perfectly not to deter potential buyers. Even after all of that, you have to hope that buyers contacting you would close the deal quickly. It is best to work with agents who specialize in foreclosure sales. They know what they are doing and can get your house out of your hands as quickly as possible.
Plan Every Step:
If you plan to sell your house fast, you must be ready to move quickly as well. In case you sell directly to investors such as Sell With Richard, the sale can go through within just a week. That leaves you with very little time to unclutter your house, pack, choose a new place, and move. Of course, if your financials are tight, you may need some time to finalize your next house. Buying a new house is not advised as there is no guarantee that you would be able to close the process faster than the sale of your house. Starting early is the key. As soon as you start the selling process, start packing. Throw away unnecessary items and sell off the stuff you don’t need. A yard sale can get rid of a bulk of the stuff quickly.
If you are renting, you have to pass a credit check. Following that, you will need to pay the first and last month’s rent along with a deposit. If that is something you cannot handle immediately, arrange to stay at a relative or friend’s house for a short while. Once your house is sold, you can use the cash to plan your destination. Check to see if there are any programs in your community to help struggling house-owners.
No Time to Hesitate:
As soon as you get into a possible repossession situation, the clock starts ticking. If you hesitate to sell your house or desperately try to get as high a price as possible via agents, banks might get the time to complete their due diligence and repossession on your house. Once the foreclosure takes place, your credit is ruined completely. This means you will not be able to pass credit checks and get loans which prevent you from owing another house until the credit is up again. And that can take years. So unnecessary dilly-dallying is a surefire way to lose your house and destroy your credit. On the other hand, if you take action fast and decide to reach out to a direct buyer like Sell With Richard, you will perhaps get a lower quotation but can be assured of an immediate sale. The sale usually completes in just a few days via a no-obligation offer. Selling to Sell With Richard means that all the paperwork and legal obligations are handled by us. This leaves you free to pack and plan where you want to go once the house is sold.
Getting repossessed in County Durham is never desirable but unfortunately, sometimes the situations play out in that way. Even if you find yourself facing a possible foreclosure, do not worry. Help is available for you if you act fast and make the right choices.
What are you still waiting for? Call us today on 0191 486 2386 or write to us by clicking here. Let us help you sell your house to avoid repossession.