We buy houses in Union Ohio. One option a homeowner has available as a resolution to at least partly cover remaining debts in this situation is selling the home directly. Listing your home for sale can be burdensome, many owners of distressed properties find themselves feeling overwhelmed by the process. If facing the decision of selling your distressed property in Union OH on your own, the task can be daunting, to say the least. We are local homebuyers in Ohio and we can help you sell to TruePath Properties now and avoid wasting time, all of the inconveniences, and costly mistakes.
4 Things To Know About Selling Your Distressed Property in Union OH
Distressed properties fall under one of three categories: foreclosure, short sales, or REO properties. Regrettably, the property can fall under foreclosure, due to failure to pay the mortgage or tax bills. Without any resolution being reached by the homeowner to rectify the past due to payments, a home could be put up by the lender for sale at a loss, or what is known as a short sale. If a home fails to sell at the foreclosure auction, it becomes what is known as a real estate owned or bank-owned property.
Should you find yourself in this situation, there are 4 things you’ll want to know about before selling your distressed property in Union OH.
Holding the Bag
Should the property sell for less than the lender is due, you’ll still be held financially responsible for the debt remaining on the mortgage, even after foreclosure. This is known as a deficiency balance, which quite often exceeds the value of the homeowners remaining assets and could well lead to having to declare bankruptcy. Even with a short sale, unless it is agreed to prior, you could still end up owing this debt.
Time is of the Essence
When it comes to taking action to ward off impending foreclosure, this isn’t the time to be indecisive. Don’t hide your head in the sand and hope your troubles will go away. There truly is no time like the present. When considering selling your distressed property in Union, don’t hesitate. The bank has a countdown going that will not stop and you’ll be losing time and likely money the longer your home sits unsold.
Non Cash Offers in Union OH
When you are selling your distressed property in Union, you’ll want to forego working with buyers who have funds that are based on non-cash investments. Time isn’t on your side and sidesteps stalling the sale of your home until they’ve liquidated their assets. You’ll want to be sure that you are spending this precious time wisely and only working with qualified cash buyers.
Assessing Price Of Union Property
It cannot be overstated that setting the price of a property on the market in Union, is extremely important in accomplishing a quick sale. It takes a great deal of investigating to set the price correctly. You’ll need to understand the going rate on the current market, most especially for distressed properties, which often include repairs and other costs that aren’t associated with traditional home sales. Making an error on the asking price can cause the property to sit. That is the last thing you want when you’re facing the consequences that can come with going through foreclosure. You should be aware, when you are selling a distressed property, you can anticipate selling at below market value.
Listing a distressed property in Union on your own can be brutal! If facing the decision of selling your distressed property in Union on your own, the task can be daunting to say the least. Listing your home on the market is no guarantee that it will sell. Consider selling to TruePath Properties directly instead and avoid all of the stress.
Sell My House In Union OH
If you are looking to sell your house fast, make sure it is presentable to all potential buyers. We are Ohio home buyers and we offer cash for houses in Union in any situation. We will make the process simple so you can quickly sell your house in OH and move on.