Foreclosure FAQ

Can I sell my home if I’m in foreclosure?

Yes, if you own the property, you may sell it The lender may have a lien against the property (mortgage) however you may sell the property and pay off the lien and keep the net proceeds from the sale. As a Realtor with the designation of Short Sale and Foreclosure Resource, I am well versed in the foreclosure process.

How long will it take to sell my home?

Generally, if the property is listed at the correct price, you can expect to receive an offer within 30 days. A buyer who is financing the purchase will normally need 45 days to secure financing. 75-90 days from listing to closing is typical, for buyers paying cash the time will be less.

What happens if I owe more than the property is worth?

This is a short sale situation where the property can be sold but the lender(s) must agree to accept less money than they are owed.

Do I have to pay any money up front?

Absolutely not, no money is due to the real estate brokerage or agent until closing. We only get paid when our work is completed and when you receive your net proceeds from the sale of your property.

Can I sell my property if it needs major repairs?

Yes, there are a number of financing programs available to allow buyers to purchase properties that have deferred maintenance. As an experienced Realtor, I can help provide these options to buyers and sellers.

Can I sell my property if I have more than one mortgage?

Yes, the mortgages would both be paid at closing and the net proceeds would be paid to the seller at closing. If the combined amount of the mortgages exceeded the sale price, one or both lenders would have to agree to a short payoff (short sale).

Should I sell my property to a “we buy homes” investor?

Probably not your best choice if you are looking to maximize your sale price and net proceeds at closing.  You may be better served to sell to a buyer who intends to live in the property.  The perfect buyer would obtained renovation financing, use the home as a primary residence  and would pay a much higher purchase price than a cash investor.  As an experienced Realtor, I can matched sellers of distressed properties with buyers who are willing to build sweat equity. 

Disclaimer: This is not meant to be legal advice. If you want legal advice, please seek the services of a Florida real estate attorney.

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