The sooner you act, the more room you have before a foreclosure sale
When a foreclosure sale date is approaching, time becomes part of the transaction.
If selling the property is one of the options you are considering, starting earlier gives you more time to see what the property can sell for, review an offer, make a decision, and complete the work required for closing.
Two weeks remaining is very different from two days remaining.
An offer is only the beginning
Receiving a purchase offer does not mean the property is already sold. After an agreement is signed, a closing may still require time for:
- title review;
- an official mortgage payoff;
- taxes, liens, or judgments that appear on title;
- signatures from everyone who must sign;
- heirship, probate, divorce, bankruptcy, or ownership issues when applicable; and
- final closing, funding, and recording.
Many transactions are straightforward. Others uncover something that takes additional time to resolve.
Starting earlier gives everyone more room to deal with those issues before the scheduled sale date.
Confirm the date and ask whether more time is available
If you have received foreclosure notices, confirm the scheduled sale date with your mortgage servicer.
You can also ask the servicer whether any available foreclosure-prevention option, adjustment, postponement, or additional time applies to your loan and circumstances. Do not assume a scheduled sale has changed unless the appropriate party confirms it.
Even when you are pursuing another option, knowing the actual deadline helps you make decisions with better information.
If selling is an option, get a real number early
You do not have to wait until you are certain you want to sell before finding out what an as-is cash offer could look like.
Getting an offer earlier gives you time to:
- see the actual number;
- compare it with your payoff and other options;
- decide whether the offer works for you; and
- leave enough time for title and closing if you choose to move forward.
Waiting until the last few days can remove flexibility that you had earlier.
CashAsIs can review the property as-is
If you are considering selling before foreclosure, CashAsIs can review the property without requiring repairs, cleanup, or showings first.
Send us:
- the property address;
- the scheduled foreclosure sale date; and
- any recent foreclosure notice you have available.
We’ll review the property and let you know what we can offer.
You decide whether the offer works. Starting early simply gives you more time to make that decision and, if you choose to sell, more time to get the purchase completed.
See also: options to stop a Houston foreclosure.
CashAsIs is a property buyer, not a lender, law firm, or foreclosure-relief service. Questions about your mortgage, foreclosure rights, or available loss-mitigation options should be directed to your mortgage servicer or a qualified professional.