Foreclosure is easily one of many homeowners’ worst nightmares. After all, you work hard for years to earn enough money for a home only to potentially lose it. The blow feels especially bigger if the cause of your late payments is an illness, accident, or divorce. If you’re facing foreclosure in Kanawha County, here’s what you need to know.
Foreclosure Laws in Kawanha County
Foreclosure is a process wherein a lender in Kanawha County, West Virginia acquires the property of a buyer which was purchased through a loan. Foreclosure only happens when a borrower continuously fails to pay their mortgage or has stopped paying for it entirely. This repossession is done in order to get back some of the money the borrower owes.
Can I Sell a House in Foreclosure in Kanawha, County?
Yes, you can! But keep in mind that you can only do so if you are still in the pre-foreclosure phase. While in the pre-foreclosure phase, you can speak with your lender about selling your home. Many lenders will be agreeable with this proposal as it is better for them to get back some of the money versus none at all.
Pre-foreclosure is a small window, however, so you need to act quickly if you want to sell your home. Once your property has been foreclosed by your lender, you lose all rights to it.
Once a lender has foreclosed on your property, they will then sell it at an auction. If you can beat out the other bidders and buy your home as well as pay back however much money you owe your lender, you are free to keep your home. If not, you are no longer considered to be the owner of the home and you can no longer sell it.
SELL THROUGH AN AGENT
One way you can sell your home is through traditional means, i.e., a real estate agent. You’ll want to choose an agent who’s had experience in selling homes facing foreclosure, because they will best understand the urgency of the situation.
Remember, though, that you are trying to beat the clock. This means you have to sell your home as quickly as possible. Most of the time, you will need to do what is called a “short sale.” This refers to selling your home for less than its market value in order to sell it quickly.
SELL TO A PROFESSIONAL HOME BUYER
If time is ticking and you need to sell your home right away, your best option is to sell to a professional cash home buyer. When you choose to sell your property to a professional home buyer, you can sell it in as-is condition, meaning you don’t need to worry about doing any repairs or renovations before putting it on the market.
Consider selling your home 3 Oh 4 Investments, LLC. At 3 Oh 4 Investments, LLC, we buy houses in Kanawha County, whatever its condition may be. We are cash home buyers from West Virginia and we’re ready to give you a fair cash offer for your property! You don’t have to wait or file any paperwork before selling to us. All you need to do is to seek for permission from your lender and you’re good to go! If you want to sell your home fast for cash in West Virginia, consider selling your property to professional home buyers like 3 oh 4 Investments, LLC.
Contact us today!
If you live in West Virginia and are looking to sell your property, the experts at 3 Oh 4 Investments, LLC can help you! We are a real estate solutions company that is committed to providing our clients with a variety of real estate services.
Our goal at 3 Oh 4 Investments, LLC is to improve the overall quality of housing for the residents of West Virginia. We buy houses in just about any condition and situation, including foreclosure, late mortgage payments, or fair market value. You are in no way obligated to accept our cash offer. You can decide to move forward with us or take your chances selling the traditional way. For more information about our home buying process, give us a call at (304) 314-4341.
