The last few years have been rough on a lot of homeowners. Despite best efforts made, some have fallen behind on their mortgage payments. If that sounds familiar to you, you may wonder if you can get back on track by selling your home to a home buying company. There are a few things you should know before you finalize your decision.
How Selling When behind on Mortgage Payments Is Different
If you’ve never tried to sell a home when you’re behind on mortgage payments, you may be wondering if there are any differences you should know about first. The good news is that in a majority sense, the process is the same. Provided you aren’t underwater on your mortgage, the biggest difference will be that the title company pays the lender for any late fees or penalties you’ve incurred. If you’re underwater on your mortgage, the lender will have to agree to a short sale, but the process is still essentially the same.
Selling to a Home Buying Company
It’s important to resolve things as quickly as possible when you’re behind on mortgage payments. Because of that, selling to a home buying company like Hapa Homebuyers may be the best solution. You may not get top dollar for your home (home buying companies have to make a profit, after all), but you can expect a fair offer nonetheless. Aside from that, selling to a home buying company could see your home sold and you paid in record time. Some sellers have sold their homes in as little as 30 days!
Things to Remember
As long as you sell to a reputable home buying company like Hapa Homebuyers, you can trust that the offer is fair. That said, you should still do your due diligence and learn what constitutes a fair offer for your home. Get valuations and appraisals done so you know for sure if the offer you’re being extended is fair or if you’re being lowballed.
It’s a lot easier to make the best decision for your circumstances when you understand the ins and outs of your options. Selling to a home buying company can be a great choice for homeowners who are behind on their mortgage payments, but it’s not always the best choice for everyone. Carefully analyze your situation and your goals so you can identify the solution that is best for you.
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