Can you be forced to sell your home? Yes, in certain situations, you can be forced to sell, and sell fast. Life is full of unexpected twists that can leave you in a bind. Nobody buys a house, thinking they’ll eventually be forced to sell it, but for many Americans, it’s a common occurrence. The first thing to know is you’re not alone, it happens to a lot of people. The second thing to know is you have more options than you may realize. There are several scenarios that may force you to sell your home.
Short Sale or Pre-Foreclosure
When a homeowner owes more on a mortgage than the property can be sold for, this is sometimes referred to as an “upside-down” mortgage or “under water.” If you can no longer make payments on your full mortgage amount, your lender may agree to sell the distressed property for less – this is called a short sale.
The circumstances that lead to this can be overwhelmingly stressful, and the process of navigating the paperwork and everything else can be too much. However, a short sale can be a better alternative to foreclosure. It’s typically less expensive for the bank, and the impact on your credit can be more favorable.
In a pre-foreclosure, the property is not actively for sale. Even though the foreclosure process has begun, the homeowner still legally owns the house.
Divorce
For many going through divorce, the emotional and financial burdens can be devastating. During the divorce process, a fair and equitable division of property will be determined. Sometimes, one party will offer to “buy out” the other party by paying half of a home’s equity to the owner who agrees to leave.
More often, the decision is made to sell the family home and split the proceeds. This can be a mutual decision, or may be determined by a judge as part of the divorce settlement.
Death in the Family
The sudden death of a spouse can impact finances in a way that was not planned for. If financial plans weren’t in place, a loss of income may make affording the mortgage impossible. Although painful, selling your home may be the only available option.
The same scenario can play out with the death of a parent. A home that once belonged to an elderly parent may need significant repairs and might be unsellable in its current condition.
How Can You Sell Fast When You’re Forced to Sell Your Home?
Whether you’re facing foreclosure, divorce, or a family death, Brisea Properties can help. You’ll receive cash for your home in its current condition. There’s no need to clean, paint, or make repairs. Brisea Properties serves home sellers in Montgomery, TX, and surrounding areas. Not everyone can wait weeks or months to sell their home through the traditional real estate market. And not everyone has the time or resources to ready a home that’s in disrepair and get it in selling condition. Whatever your circumstances Brisea Properties is here to help. We can buy your house fast and get your cash offer in a matter of days.
Learn more about how we can help @ www.briseaproperties.com
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