1589 Lonsdale Avenue, Lincoln, RI 02865
401-529-9306
1589 Lonsdale Avenue, Lincoln, RI 02865401-529-9306
Are you facing the perils of foreclosure? If you’re scared of losing your home, there is still hope!
One option that can provide relief and a way out of this challenging situation is selling your house to a local cash buyer.
In this blog, we’ll explore how working with a local cash buyer can help you avoid foreclosure and secure a brighter financial future.
The foreclosure process usually starts when a borrower defaults or misses four consecutive mortgage payments. The lender will begin a foreclosure process on your home.
The lender sends a demand letter to the borrower if they are late on two payments.
When payments are not made for ninety days, the lender sends out a notice of default. The borrower normally has an additional 30 days to make the required payments and reinstate the loan once the loan is turned over to the lender’s foreclosure department (also called the reinstatement period). If the homeowner has not made up the missed payments by the end of the reinstatement period, the lender continues with the foreclosure process.
Lenders, usually banks, most of the times, assume possession of a property if it does not sell at a foreclosure auction or if it has never gone through one. It is then added to a portfolio of foreclosed properties, commonly known as real estate owned (REO).
Properties that are in foreclosure are usually easily accessible, the banks sometimes sell these properties below market value, which hurts the banks profits.
After the first missed payment, the lender reports a missed payment to all the credits bureaus and it shows up on your credit report within a month or two . If the lender ends up foreclosing on your property, it will stay on your credit report for seven years. This will prevent access to credit, meaning you will not be able to buy another house, car, or access to credit cards.
Local home buyers are individuals or companies that purchase properties directly from homeowners without the need for a real estate agent. They specialize in buying properties quickly and with cash, offering several benefits to homeowners in distress, including:
Personalized Service: Local home buyers offer personalized service tailored to your specific situation, providing you with guidance and support throughout the selling process.
Fast Closing: Local home buyers can often close the deal much faster than traditional buyers, allowing you to avoid foreclosure proceedings and move on with your life.
No Fees or Commissions: When you sell to a local home buyer, you typically won’t have to pay any fees or commissions, saving you money in the long run.
Flexible Terms: Local home buyers are often more flexible in their terms, allowing you to negotiate a deal that works best for you.
Quick Sale: One of the primary benefits of selling to a local cash buyer is the speed of the transaction. Unlike traditional real estate transaction that can take months, a local cash buyer can often close the deal in 21 days, providing you with much-needed relief from the horror of a foreclosure.
Sell As-Is: Local cash buyers are typically willing to purchase your property in its current condition. This means you won’t have to invest time and money on costly repairs or renovations, which can be a major burden when facing foreclosure.
Avoid Foreclosure Proceedings: By selling your home to a local cash buyer, you can stop the foreclosure process right NOW! This will help you avoid the negative consequences of foreclosure and prevent your credit access going down the drain.
Cash Offer: Local cash buyers provide cash offers for your property, ensuring a quick and hassle-free transaction. This will provide you with the financial stability you need to move forward and avoid the stress of foreclosure.
Selling your foreclosure house to a local cash buyer is a straightforward process that involves a few simple steps:
Contact a Local Cash Buyer: Research local cash buyers in your area and reach out to them for a consultation. They will assess your property and provide you with a cash offer.
Accept the Offer: If you’re satisfied with the offer, you can accept it and move forward with selling your property.
Close the Deal: Once you’ve accepted the offer, the local cash buyer will work with you to finalize the sale with the help of an attorney.
From the perspective of a local cash buyer, purchasing distressed properties can be a win-win situation. Local cash home buyers are looking to help home owners in distressed situations . Selling your distressed property to a local cash buyer, you’re not only avoiding foreclosure but also helping to improve the neighborhood.
Local cash buyers also value the simplicity and efficiency of dealing with distressed properties. Since they typically buy properties as-is, they don’t have to deal with the complexities of traditional real estate transactions. This allows them to close deals quickly and move on to their next project.
Working with a local cash buyer can provide a lifeline for homeowners facing foreclosure. By selling your distressed property to a local cash buyer, you can avoid the negative consequences of foreclosure and a fresh start. If you’re facing foreclosure, consider reaching out to a local cash buyer to explore your options.
At Beacon Leaf Real Estate Solutions, we understand the challenges of facing foreclosure and the importance of finding a solution that works for you. As a local cash buyer, we specialize in helping homeowners like you avoid foreclosure and a fresh start. Our team is committed to providing you with a fair and competitive offer for your property, ensuring a smooth and hassle-free transaction.
Don’t let the threat of foreclosure overwhelm you. Contact Beacon Leaf Real Estate Solutions today to learn more about how we can help you avoid foreclosure and regain control of your financial future. Visit our website at https://beaconleafrealestate.com/ to get started.