Nobody wants to lose their home to foreclosure. The current economy has many challenges, and many families are struggling to meet their mortgage obligations, resulting in a higher foreclosure rate across the country.
A cash sale could be an alternative to losing your home. Cash home buyers in San Antonio, TX, are willing to pay cash for your home, no matter at what stage of foreclosure it is in currently. A cash sale lets you sell a house fast in San Antonio and walk away with cash in your pocket.
Here are a few more pointers to help you choose the best option.
1. Processing Time
Foreclosures are daunting, with months of stressful paperwork, and homeowners are bound to lose a considerable part of their assets and savings. Foreclosures are also emotionally draining on the homeowners.
A cash sale lets homeowners sell their house in as little as two weeks and walk away with cash. Cash home buyers make an offer in less than 24 hours for your home and let you sell your house fast in San Antonio.
2. Effect on Your Credit
Foreclosure can be damaging to your credit score. After a foreclosure, a bank has the right to sue the homeowner for a deficiency judgment to recover the outstanding balance on the loan. A deficiency judgment will appear on your credit and harm your future credit applications. Credit scores are why some homeowners lean towards a cash sale to save their home from foreclosure and prevent any future litigations with the lender.
3. Save on Legal Costs
Homeowners could end up paying anywhere between $7,000 and $10,000 on a foreclosure. If the homeowner cannot make payments, the foreclosure could result in a financial predicament in which the only recourse is bankruptcy. Bankruptcy has substantial credit ramifications for the borrower and costs for the lenders.
A cash sale can save the homeowner money on these expenses. Cash home buyers in San Antonio will buy your house as-is for cash and save thousands of dollars in legal fees and other costs.
4. Homeowners Get Better Control
Foreclosures are confusing and taxing on the homeowner. You are bombarded with letters and documents by the legal team. On top of everything you have going on, keeping track of whatever is happening around you can be very stressful.
However, a cash sale is simple and quick. Cash home buyers inspect your home and make an offer within 24 hours. If you like the offer, you take it and decide on a closing date. There is no stress and no hassle.
We buy houses in San Antonio and can make the best cash offer for your home. We don’t charge any fees or commissions. Plus, we take care of the closing costs! Call us now or fill out the form below to get started!