A home foreclosure is a stressful and heartbreaking experience for each family or individual. Knowing your house will be taken from you soon gives you a lot of worries as it will affect several things including your credit score.

   During this stage, every homeowner has a common question in mind. Can I sell my house before foreclosure? Is it safe and legal to do so? The answer is absolutely YES!

   Up until the house is sold, you will still have a chance to sell it in the market and pay everything you owe from the lender which includes your penalties and back payment at the same time save your credit rating.

   But there are different steps that you have to do to make sure that selling your house will have a smooth transaction. You also have to make sure that the value of your house will cover the total amount of the loan with additional charges, by doing so, foreclosure will be avoided.

Here are different steps that one has to make to ensure a smooth transaction in selling a foreclosed house.

  1. Seek for Legal Advice

   

   Making sure that all your decisions are aligned with the contract that you made with your lender. Talk to your lawyer, preferably someone who is knowledgeable in real estate, and know what are other options you have. In the process, you also need to work with your lender and check the time that you have before they take your house away. It differs per state but it is usually between 30-90 days.

  1. Look for a Rockstar Real Estate Agent

   Choosing to ask for Real estate agent’s help might cost you a bit but this will help you and your property attract buyers in the market. Because of their experience, they are fully equipped with knowledge and workarounds and most of all, they understand the urgency of the situation you are in. They will use their experience and do their best to look for a buyer for your house.

   You might also be surprised, but real estate agent fees are negotiable. You can try asking the agent for a reasonable discount.

  1. Make sure your house is in its best condition

   Selling a house is not an easy task. Though the real estate agent will do the pitching, you should also try your best to make your house in its best condition. Throw out useless materials inside your house, clean the windows and every corner of your house. Make sure it is clean and presentable especially when potential buyers will do a site visit.

     A clean and well-ventilated house will make them feel refreshed and fall for your house easily. Most of the time, buyers are basing their decision on what they feel when they enter the house, so make sure you can give them a fresh experience.  

  1. Be creative in Marketing your house

   To quickly sell your house, you have to market aggressively. Prepare your house’s best shots and post ads on free websites like Zillow, Trulia, Craigslist and a lot more. Utilize social media sites to increase the chance of bumping the destined buyer for your house. Try everything that can help market your property.

  1. Keep your lender posted

   Make sure that whatever progress you have in the process will be conveyed to your lender. This is to make sure that you are still aligned with your lender’s policy. Make them feel that you are taking the responsibility and doing your best to get their money. This will give your lender a positive note and they might even help you in the process. They have the power to freeze the foreclosure and extend the time for you. Although there is no assurance that they will provide you an extension, it would be a great idea to ask anyway.

  

Foreclosure might make you feel that things are uncontrollable, but it is not the dead end. There are a lot of people that can help you manage the situation. You have real estate lawyers, agents and mortgage companies that deal with this kind of scenario every day.

Time is your number one enemy in this situation, so make sure to act fast and contact your trusted professionals to guide you go through the process and save your house as well as your credit rating.

Are you facing the same situation? Call your trusted lawyer now and see what are your options.

Sources:

http://homeguides.sfgate.com/can-sell-home-foreclosure-1958.html

https://www.nolo.com/legal-encyclopedia/question-sell-house-before-foreclosure-28024.html