When facing foreclosure in Lake Nona, there are still real estate options at your disposal, including being able to sell your home. A foreclosure notice usually occurs after a certain amount of debt still hasn’t been paid, so being able to sell immediately would prevent you from further damaging your credit score.
You might be asking yourself: “But how can I navigate the real estate market in Lake Nona, Florida while going through foreclosure at the same time?” It can get a bit complicated, but it isn’t impossible to sell your home.
Here are some tips to follow:
Act Quickly
Real estate in Lake Nona, Florida isn’t a static market. People who want to move into a new place tend to move just as quickly, and they’ll commit to any property they deem to be attractive enough to suit their needs.
Wallowing in panic while faced with your foreclosure shouldn’t be an option. The best thing to do is to contact an agent immediately to arrange for the sale of your home while it’s still properly in your possession. This way, you’ll get to reap the benefits of being freshly listed while finding the right clients to entertain immediately.
Take Note Of The Auction Date
In the case of foreclosure, after 20-35 days after your judgment date, the court will hold a public auction over your home which will then sell the property to the highest bidder. Any surplus money will go to you, but most of the cash will be used to pay off your debts.
The downside to this arrangement is you have virtually no control over who gets the home, so keeping track of your auction date is crucial. It’s possible for you to sell your property before the auction happens, so you can at least be reassured that your property will be in good hands.
See How Much Money You Owe, Plus Late Fees
While finding out how to price your home, make sure that you are keeping account of all of your missed mortgage payments including late payment fees that have accumulated over time. Selling fees must also be taken into consideration while doing your accounting, since you might be spending more staging your house for listing and/or paying a real estate agent to help you out.
To start, you can look at tools such as Home Value Estimator and Net Proceeds Calculator for assistance so you can come up with a starting amount for how much your property will end up listed as. While working with a lawyer on the final amount, you can then start doing some light research on real estate listing sites with promising clients in Lake Nona, FL.
Speak To Your Lender Throughout The Process
Because you’re in debt, you might think that speaking to your lender wouldn’t be the best course of action, since you might be a bit intimidated to talk to the institution you own a significant amount of money to.
These anxieties aren’t unfounded, but we still advise that you keep your lender in the loop at all times. Remember that most capable lenders would rather work with a borrower to make sure their property gets sold and their debts get paid in full, rather than result in foreclosure and selling your house at a loss.
If you present your lender with legitimate offers you’ve been receiving on your home, they will likely be more enthusiastic about helping you see them through, mostly because your debts will be paid in a quick, completely legal manner.
Need More Info?
Pursuing a short sale in Florida isn’t the easiest task, which is why we’re ready to help at Kindred Homes. We buy houses in Lake Nona, FL that come in any condition, including homes that need to be sold to prevent foreclosure.
When you contact us, you won’t need to worry about realtors, fees, commissions, repairs, extra fees, or even needing to clean the property. No need to be pre-qualified by a bank either or to have your home listed on MLS, Zillow, Realtor, and other platforms. All you need to do is visit our website and provide us with the necessary details and get your offer!