Matt Buys Houses TX Posts

If you need to sell your house quickly you may be asking how to auction a house. Then another question may also be can I auction my own house. The answer to these questions lies in the sell real estate auction procedures.

How To Auction a House Options

When looking at a sell real estate auction it can  be an auction that is conducted by a trustee. This means that the house has already been foreclosed on and you no longer have any say in the sale of the property. Another sell real estate auction is to list your house with an auction company. They will go through the process of selling the house by auction. So in answer to the question can I auction my own house, the answer is yes but through the proper channels.

There are two main principals that have to be considered when you are looking at how to auction a house. One is you as the seller, and the other the buyer. Buyers tend to like auctions better than sellers. This is because it saves the buyers time and they can often get the sale price that suits them. For sellers it can be a fast way of selling the home, and less hassles than putting it on the open market. However, the trade off for this is that they most likely will not get the price that they were hoping for.

How to Auction a House Process

The first step is you are going to have to find a professional that specializes in selling homes .  You are going to have to take some time to do some research in finding the right professional in your area. This can be a bit of a challenge but it is really important. The right auctioneer will know what kind of advertising needs to be done for the area. They will know who the target market will be based on the type of home you are selling.

Interviewing the Prospective Auctioneer

Once you have narrowed down your choices then you have the task of choosing the right expert. This is necessary to increase your chances of a successful sale. You will need to ask a selection of questions such as….

• How experienced is the individual?
• What is their sale portfolio like?
• What credentials do they possess?
• What code of ethics do they implement?
• Are they willing to provide you with a few referrals?

The right answers to all of these questions is going to determine how successful the auction sale of your house will be.

Payment Options for the Auctioneer

When you are determining can I auction my own house you need to know what your costs are going to be. When you sell in a conventional manner you have real estate fees. When you sell through auction using a professional then you have the auctioneer’s fees. You need to know up front what these are going to be. They can vary greatly by state and by the professionals themselves.

Auction Decision Making

You will find that when seeking out the answers to can I auction my own house that you be required to make a lot of decisions. You will have to decide whether you want to go with an absolute auction, or auction by reserve.

The Bidding Process

You should also be aware of the bidding requirements. These are set by the professionals who will be auctioning your home. They may set requirements for bidders to provide financial proof such as a letter of credit. Or, they may ask for a certified check for 10% of the expected amount of the sale of the house. At the close of the sale the checks are returned to those who did not win the bid.

Then it has to be determined how the bids will be accepted. It may be that the bids will be done according to the group gathering. In other cases bids may be accepted by sealed bids.

Can I Auction My Own Home without a Professional?

The rules vary for the way a homeowner is able to sell their house. In some states they may be allowed to auction the home themselves without the services of an auctioneer. It is important to understand what the auction laws are for your specific state. Keep in mind that an auction sale is different than a private sale. In most cases it would not be wise to consider the question can I auction my own house without a professional.

How to Auction a house online

Another question you may have is how to auction a house online. A sell real estate auction encompasses this type of opportunity.

First you have to be aware that if you are going to research how to auction a house online that you will discover it is all electronically done. The bids are done on the web. These do not just pertain to foreclosed homes. Many investors will use this method to sell homes that they are flipping.

The bidding price will be set then the bidding goes from there. The bidding price is just the starting point to kick off the auction. In most cases it is not the asking price of the seller. Nor, is the price the seller will take. Chances are there will be a reserve price that is not made public.

Disadvantage of Auction

You will discover some positive answers to how to auction a house. Plus, you will soon learn there can be several disadvantages to this way of selling.

• There are several steps as outlined that you have to go through. It is easy to make a mistake in choosing the wrong auctioneer.
• It could be difficult to find a professional in your area depending on your type of home.
• You most likely will pay more in auctioneer fees than you would with a traditional real estate sale.
• The potential buyers are more experienced at home buying. This can make it more difficult for a sale at the expected price.
•  Your home may have to compete against others that the potential buyers are already aware of
• Good potential buyer turn out could be limited. This  depends on the aggressiveness of the advertising tactics of the auctioneer.

Selling to a Cash Buyer

These are all significant disadvantages. Perhaps instead of asking how to auction a house, the better question would be Should I sell my house for cash. There are a lot of advantages to selling a house for cash.

• This  includes a lot less hassle for you.
• You don’t have the uncertainty of whether you will get a buyer.
• There are no hassles of having to do potential repairs to help sell the house.
• No inconveniences of house showings
• A realistic sale price
• Less selling costs
• Far less legalities

Selling to a cash buy is most definitely the easiest, most convenient and most effective way to sell your house.

We understand that facing foreclosure is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about the foreclosure process. At Matt Buys Houses TX, we’re here to help you. Ready to sell, or just have a question? Give us a call at 210-596-9669. We’ll give you a no obligations cash offer to help you stop foreclosure in its tracks!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

There can be many reasons homeowners find themselves in a position of needing to sell their house. Sometimes it’s necessary because you need to relocate for work or to take care of an aging loved one. It might be a financial decision, the need for a bigger or smaller living area, or the house needing too many costly repairs. No matter why the need arises, many homeowners consider auctioning a viable option. Maybe you have some of the same questions like: Should I auction my house? Or Can I auction my own house? Selling a house at an auction can be a viable option if the process goes smoothly. There may also be better options. Here are some of the things homeowners need to know about auctioning a home.

Should I Auction My House? Where Do I Start?

Auctioning your house can seem like a doable option if you are looking to sell. If you are asking, should I auction my house, there are several steps you will need to take. First of all, you’ll need to locate the right auction house. Make sure to do your homework on the auction house, they need to be reputable. You will also want to review their real estate auction fees so you understand what it is going to cost you out of your profits. The auction house should work with you to advertise your home. During this time, make sure to keep the house in good shape and looking good as people will be looking at the property to make their bids.

Pros and Cons of Auctioning a House

Are you one of the homeowners asking, Should I auction my house?  If so, then you need to be aware of auctioning a house pros and cons. Going through the process is not always easy, and it’s important to work with professionals who have real estate auction experience. Here are some of the biggest pros and cons:

• Con – Extra Cost: There are going to be a few extra costs associated with going through a real estate auction company. The rates vary, but in essence, you are paying them to sell your house. They will choose how to handle the marketing efforts and when to hold the auction.
• Pro – Market Value: Setting a price for your house can be difficult, but when you open it up for bids, you’ll know what people are willing, and not willing, to pay for it. The bids are a way to get an immediate market value on your home.
• Pro – Faster than Real Estate Market: An auction is a quicker way to sell than going through a real estate listing. That can literally take months or even years before the property moves. An auction is a way to gather interested buyers together for a day. The whole auctioning process can be done in an hour or two.
• Con – Stuck with a Bad Offer: For most auctions to be successful, the seller has to agree to take the highest bid, whether or not they are happy with it. This is the type of auction that will attract the most bidders. Real estate investors feel like they are wasting their time if they have sellers who back out on selling the property at the last minute. But, if you agree to take the highest bid, you may be stuck with a price that is far less than you wanted.

How to Auction a House Online

Are you still asking, Should I auction my house? It’s okay. It’s a big decision to sell your house, any house, and you should take your time. Perhaps you’ve wondered how to auction a house online. For some, it is a workable option. Actually, as we live in the digital age, online auctions are increasingly popular. You will first have to locate a real estate marketer online who helps you auction your house. They will ask you a lot of questions to help you get started, and of course, they will charge you a fee. It works much like a physical auction, except the property is listed online and bids are taken online. Once the bids are in and selected, closing will take between 30 and 45 days on average.

Another Viable Option – Cash Home Buyer

Maybe you’re wondering now, Should I auction my house or not? It can sound very complicated. But there is another option that is easier, faster and less involved. Talk to a cash buyer. It can be a better option than putting your house on the market. Actually, it can save you a lot of time, effort and worry to sell to an investor who pays cash for houses.

How Selling to a Cash Buyer Works

A cash buyer is a real estate investor, who pays you cash for your house. They will do an informal inspection of your property and make you a cash offer. You do not have to make any repairs or spend time and money getting the house ready to show. Cash buyers will make their offer on our house as-is, meaning they will take it just like they see it. You’re not out time or money for costly repairs, and you have the money in your hand. There’s no need to list the house or wait for bids to come in through an auction.

The other good thing about selling to an investor is there is not waiting a month or more for closing. The investor will handle all the paperwork, and have it processed quickly and painlessly. Selling to a cash buyer is fast, easy and stress free. It’s the fastest option available!

We understand that facing foreclosure is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about the foreclosure process. At Matt Buys Houses TX, we’re here to help you. Ready to sell, or just have a question? Give us a call at 210-596-9669. We’ll give you a no obligations cash offer to help you stop foreclosure in its tracks!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Have you found yourself in a financial bind and need to sell a house to avoid foreclosure? Maybe you’ve even asked yourself, Can I sell my house to avoid foreclosure? While each situation is different, in most instances you can avoid a foreclosure auction altogether. There are some ways to sell a house to avoid the foreclosing process. Foreclosure can affect more than just your credit. However, you do have a few options available.

What is the Foreclosure Process?

Many people do not understand the foreclosure process. Honestly, they just want the answer to the question: Can I sell my house to avoid foreclosure? The goal, of course, is to avoid the foreclosure auction if there’s any way to do so. Foreclosure doesn’t happen out of the blue.

Step 1: Missed Payments:

Maybe you got laid off at work, lost your job, lost a second income, or hit a rough spot financially. It happens to everyone at some time or another whether it’s illness or job related, a few house payments go unpaid. Once you have missed three and are 90 days behind on mortgage payments, lenders can start the foreclosure process. If you have not received a Notice of Default (NOD), there is still time to work out a deal with your lender.

Step 2: Pre-Foreclosure:

The lender will record a public notice that you are in default on your mortgage payments. The NOD is often posted on your front door. This is still considered a grace period and you still have three months to find a way to get out of “default” status on your loan. You may work out something with the lender, take out a separate loan to bring your mortgage up to date, or any other option, including to sell a house to avoid foreclosure.

Step 3: Auction:

If you have not been able to get out of default three months after the NOD, the lender will set a date to sell the property at auction. At an auction, your home will be sold to the highest bidder whether it is enough to pay off the mortgage or not. The homeowner will still be responsible for any balance remaining on the initial mortgage if it didn’t get covered by the auction.

How Does a Foreclosure Affect a Homeowner?

One reason many people want to sell a house to avoid foreclosure is that the foreclosure affects a lot more than just your credit rating. In most instances, after a home is lost through foreclosure, the individual’s credit score drops about 250 points on average. It can take at least three years of making every single payment on time to restore the initial credit score. Besides being devastating to your credit score, there are other areas affected. These include:

• Buying another house – After a foreclosure, it can be difficult to purchase another house. Some lenders only require a waiting period, others will not make a loan to a person who has been through foreclosure.
• Tax Difficulties – For many people who lose their home through foreclosure, there are tax implications. You may be liable for taxes on the home the lender sold through auction.
• New Jobs: In most instances, a foreclosure may not affect your job or ability to get one. However, you will not be able to work in the financial industry such as in a bank if you have poor credit ratings.

Can I Sell a House to Avoid Foreclosure?

Have you been saying, Just stop my foreclosure! You have options. There are always options, even if you just want to sell a house to avoid foreclosure. Look at the options you have available to see which one will work best for your situation. Every individual situation is unique, and finding an option may take creativity, but there is always a way out of a foreclosure. Here are some options to explore:

• Do a short sale to stop foreclosure. This can take a lot of work, and you are on limited time before the lender sets a date to auction the house. However, a short sale is a viable option for many. If your house is in the foreclosure process and you get a bid on the property, the lender is required to consider it as an option to foreclosure. You usually have the option to sell a house to avoid foreclosure.
• Discuss refinancing options with your lender. You may have some refinancing or mortgage modifications available that can help make your payments more manageable. In some cases, depending on finances and other criteria, lenders can lengthen the time you pay while reducing the amount you pay. This modification helps keep you in your house. However, before they make modifications, the lender may require that it be brought up to date. That may present a challenge.
• Sell to a cash buyer. The best option for homeowners who want to sell a house to avoid foreclosure just might be selling their house to a cash home buyer. The process is actually a simple one. The cash buyer takes a brief look at your house and then makes a cash offer. If you are comfortable with the offer, they give you the cash and complete the paperwork for the sale. Closing usually takes as little as a week since it is a much faster process. You take the cash to the bank and pay off the mortgage. It really is that simple. You do not have to show the house, prepare the house or make any repairs as a cash buyer is an investor and will take the house as-is. No preparations are necessary.

Want to Avoid Foreclosure Auction?

We understand that facing foreclosure is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about the foreclosure process. At Matt Buys Houses TX, we’re here to help you. Ready to sell, or just have a question? Give us a call at 210-596-9669. We’ll give you a no obligations cash offer to help you stop foreclosure in its tracks!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Just the term, foreclosure brings up feelings of fear and dread. No one wants to lose their house. You may have already heard the term, or you may fear hearing it soon as you’ve fallen behind on mortgage payments. If you’ve missed a mortgage payment or two, you’ve probably already received some communications from your lender. After you miss three or more, they’ve probably started sending you notices about foreclosing on the property. Fortunately, there are some things you can do to stop the process. Here are five tips to stop foreclosure fast.

5 Tips to Stop Foreclosure Fast:

These tips to stop foreclosure fast will save your home and your financial situation. Don’t stress, it happens to a lot of people. These easy tips will make it simple for you to bounce back.

Tip 1: File for Bankruptcy

The first of five tips to stop foreclosure fast is to file for bankruptcy. Filing bankruptcy is one of the ways to stop foreclosure immediately. Foreclosure is considered a collection activity and the federal government mandates that as soon as a petition or bankruptcy is filed, debt collectors must stop engaging in collection activities. The day lenders become aware you filed for a bankruptcy, the foreclosure process stops immediately. Bankruptcy doesn’t do anything but give you time to sort things out financially. Maybe you were behind on payments because you lost your job, or because you were unable to work due to a temporary disability. Filing gives you some time to get it all together. The law requires that your creditors, including the mortgage company, work in good faith with you to find a workable way to help you get back on track with your payments. Of course, filing for bankruptcy will have a negative impact on your credit and future borrowing abilities. Discuss this option with a knowledgeable attorney to see if it is a good strategy in your situation or not.

Tip 2: Sell Your House in Short Sale

The second of our five tips to stop foreclosure fast is to sell your house in a short sale. Once the lender files a Notice of Default (NOD), but before an auction is scheduled, if there is an offer to buy the property, the lender has to consider it. Lenders who foreclose on a property, are just going to sell it to try and make up for their losses. If you have asked, My house is being auctioned, what do I do? Or How can I save my house from auction? A short sale may be your answer. If you are able to present your lender with a reasonable offer from a short sale, they may take it. It would save them the trouble, effort and time it takes to try and find another buyer or schedule an auction.

Tip 3: Apply for a Loan Modification

Our third of five tips to stop foreclosure fast is to apply for a loan modification. You can apply for a loan modification with your lender. Both federal and state laws prohibit lenders from continuing with the foreclosure process if a loan modification review is in process. When you apply for a loan modification, the lender will look at the terms of the loan. If there is a way to redo the loan so that your payments are lower, they may be able to modify the terms of the loan to accommodate you. Sometimes, they add more time to the loan, which lowers your payments into a range you can reach, but adds another year or more of payments you’ll need to make. They may be able to adjust the interest rates to the going rate if it’s lower. There are a few alternatives available with a loan modification. It may be one way how to stop a foreclosure sale date if you request it in time.

Tip 4: Offer a Deed in Lieu

The fourth of our five tips to stop foreclosure fast is to offer a deed in lieu of foreclosure. That term basically describes exactly what it does. You offer the lender, or mortgage company the deed to your property voluntarily “in lieu” of them going through the foreclosure process. It can be a way to stop bankruptcy fast, but it does have a negative effect on your credit standing. The other problem is that lenders are not required to agree to take a home back. A deed in lieu can be declined for many reasons. For example, if you have numerous mortgages on the house, or the lender thinks you are not in as much financial stress as you claim, they may choose to not take the deed back and continue with the foreclosure process.

Tip 5: Sell to a Cash House Buyer

Our fifth of five tips to stop foreclosure fast is to sell your house to a cash buyer. Investors will offer you a cash price on your property after an informal inspection. If you accept, they will pay you in full for your house, in cash. It’s fast, simple and done. You do not have to worry about making a lot of repairs or renovations to make the house ready for sale. Cash house buyers offer you cash for the house “as-is” meaning they will take it just like they see it. There’s no inspections needed or any other assessments. You don’t have to worry about a sale falling through, or another person not qualifying for a loan with their lender. Another great thing is that the cash buyer helps with all the paperwork. You don’t have to wait months for a closing date that gets scheduled and rescheduled. The entire transaction is completed in just a matter of days. You get to stop the foreclosure process and are relieved of all the stress.

These are our five tips to stop foreclosure fast. After you look at your situation and all the details, you can decide which way is going to work best for you.

Want to Stop Foreclosure Fast?

We understand that facing foreclosure is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about the foreclosure process. At Matt Buys Houses TX, we’re here to help you. Ready to sell, or just have a question? Give us a call at 210-596-9669. We’ll give you a no obligations cash offer to help you stop foreclosure in its tracks!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Foreclosure is a legal process that a lending institution or mortgage company obtains ownership of your home, in other words, a repossession of the property. There can be any number of reasons that cause the foreclosure process, as well as a few ways to avoid it. Your next question is likely How can I save my house from foreclosure? First, let’s look at why you may be facing it, and then, how to avoid foreclosure.

What to do if You are Facing Foreclosure

The most common reason people end up facing repossession is failing to make their mortgage payments on time. Foreclosure is the legal way the lender can get their money back. The problem is the result of the process is you will have to move out of your house. What’s worse, is you could end up still owing the mortgage company if the deficiency can’t be made up by the sale of the property.

Is there any Way I can Save my House from Foreclosure?

Your most obvious question is Can I save my house from foreclosure? And the answer is that there may be some ways of avoiding foreclosure. It will depend on if it is a non-judicial or a judicial foreclosure. These are the two ways lenders can use to take back possession of the house.

• Judicial Foreclosure: This involves the lender taking you to court before a judge. This process can take months, even years and can be costly.
• Non-judicial Foreclosure: This process doesn’t involve the court at all, but it can be more troublesome and more expensive than the other. You’ll still be out the expense of legal help, you’ll have to gather evidence and make a strong case for yourself.

There are some options you have before the process gets started. To answer your question, how can I save my house from foreclosure, let’s look at some of the steps to avoid the process entirely.

What Options do I have to save my house from foreclosure?

If you want to know how to stop foreclosure, there are several options available. Some are faster and easier than others, and some are difficult. Look through these choices, and decide which one is the best for your specific situation.

Talk to Your Lender

Depending on how far behind you actually are on your house, your lender may be able to help you. In some instances, they may be able to adjust the loan. They may be able to help in a number of ways, such as:

• Offer a repayment plan. You keep your house and loan, but make additional payments to pay off the past due amounts.
• Provide a forbearance. Sometimes, lenders offer a short forbearance where they allow you to get your account current.
• Offer a loan modification. Occasionally, lenders alter a mortgage so it runs for a longer period of time. You will ultimately pay the same amount or more in interest, but it can reduce your monthly payment.

File for bankruptcy

If your house is due to be sold in a short time, filing for bankruptcy might stop the sale.  An automatic stay goes into effect when you file. However, if you are already in the process, a chapter 7 bankruptcy may not be enough to save your home. It will, however, give you some time to talk with your lender about possible options.

Sell to a Cash Buyer

An investor will offer you a cash price for your house. If you accept it, they will buy your house as-is for cash.

Can Selling to a Cash Buyer Help Save my House from Foreclosure?

The foreclosure process can be long and difficult. It can be hectic and discouraging. There can be some distinct advantages to selling your house for cash, especially those who are asking, Can I save my house from foreclosure? Here are the specific benefits you will enjoy.

• Quick – You don’t have to spend weeks wasting time, money and energy, worrying about the process. You’ll have your money in hand and the paperwork done quickly as well.
• No Need for a Real Estate Professional – A cash sell cuts out the middleman. You don’t have to worry about listing your house, or finding a real estate broker to help. You also do not have to use your money to pay off a real estate professional.
• No Hassles – you do not have to worry about the hassle of selling your house. Cash sales are immediate. You don’t have to list your property or wait for interested buyers to come look at it and then decide whether or not they want to purchase it.
• Fair Price – Cash home buyers will offer you a fair price for your property, even though you can still negotiate.

Which is the best option for you?

Each situation is different and has various elements. In very few instances, a lender may re-negotiate the terms of a loan. It’s always worth the try, but if you are already behind on your mortgage payments, it’s not likely. Bankruptcy might help a few people, but it will mar your credit for at least 7 years. For most people, selling to a cash buyer is the best option. It’s simple. It’s easy. It’s fast. And it’s done. They will offer you a fair price, you accept the offer and then they will take care of all the paperwork. There is far less worry involved, you have no expense and it’s done in a very short amount of time saving you the headache of suffering through the foreclosure process.

We understand that facing foreclosure is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about the foreclosure process. At Matt Buys Houses TX, we’re here to help you. Ready to sell, or just have a question? Give us a call at 210-596-9669. We’ll give you a no obligations cash offer to help you stop foreclosure in its tracks!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.