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Chapter 3 of 10
Sell To A Cash Buyer
When faced with foreclosure, repayment plans and forbearance aren’t the only options available. For instance, if the property is worth more than the amount owed on the mortgage, a quick sale to a cash buyer can help you avoid foreclosure and all the hassle involved with the foreclosure process.
Cash buyers are usually real estate investors who will buy your house in its “as is” condition. You can sometimes negotiate a move-out date with this type of buyer, giving you time to find a new home. Fortunately, the foreclosure is halted as soon as the sale is completed and the title is transferred, which means your credit score will not be as negatively affected. However, this is typically only an option if you have equity available in the property.
For homeowners who have a deadline, selling a house for cash can provide the reliability and certainty that you require, which, in turn, minimizes the stress and worry involved with the selling process. Selling a property using a real estate agent can take an uncertain amount of time, and while selling a property at auction almost always results in a sale, the price you get is almost always much less than the market value. By selling your house to a cash buyer, you get the certainty of knowing when the sale will be, and the certainty of knowing exactly how much money you will receive.
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