If you need to catch up on your mortgage payments and have been told by your lender that your home is in pre-foreclosure, you’ll need to act fast before it’s too late. Impact Realty Group will sell your pre-foreclosure home for you, so you won’t lose it and get nothing. Selling a pre-foreclosure is more complicated than selling a home in good standing, which is why you need a knowledgeable and trustworthy real estate professional.
Knowing your home's value in the current market is crucial when dealing with a pre-foreclosure. Your agent can help you determine the fair market value of your home based on comparable sales, market trends, and your home's condition. This is essential in setting a realistic asking price to attract buyers and receive offers quickly.
Our agent will talk to your bank's loss mitigation team to update them on your steps to pay your mortgage. Communication is key, and by creating an open, honest dialogue could keep you in your home longer while your agent looks for a buyer. Your lender might agree to a short sale and take less money than is owed. An agent will also inform you of possible tax implications and talk to your accountant on your behalf.
An IRG agent can help present a hardship letter, financial statement, and purchase offer from a buyer — essential documents your lender will need before agreeing to a short sale.
Your IRG agent may already know some potential buyers who specialize in short sales and can start pre-marketing to them as soon as they get the listing under contract. They will also guide you on preparing your home to be photographed by decluttering, conducting cost-effective repairs and renovations before staging, and utilizing their network, marketing websites, and social media to inform potential buyers of your home.
To sell your pre-foreclosure home successfully, you need to handle showings and offers professionally and not negotiate from a position of weakness as if you are desperate to sell. An experienced IRG agent will conduct showings, interact with buyers and their representatives and get the best price possible for your home while being mindful of the bank's timeline.
A pre-foreclosure sale has to be handled diligently to satisfy the bank's requirements. In conjunction with a title agent, an IRG agent (and attorney if you so choose), will ensure that all the funds are dispersed as stipulated and facilitate any inspections, appraisals, title issues, or buyer contingencies that may arise during the closing process.