How to Sell a Home in Preforeclosure in Chicago Area

Even in this uncertain financial time, many homeowners face very similar hurdles. Many people just like you find themselves unable to make their monthly mortgage payments, but do not lose hope! There are still steps that you can take, including selling your home while it is still in preforeclosure.  Call the local Chicagoland & Naperville cash home buying experts at Tony Buys Homes and we will help you every step of the way.  Dial our local number, 815-488-6373, and speak with one of our experienced consultants today!

What Is Foreclosure and What Are Its Consequences?

In order to understand how the pre-foreclosure sale works, it is important to understand how the foreclosure process works first. 

Foreclosure occurs when a lender seizes the mortgaged property, selling it off to a different buyer if the current homeowner fails to meet their financial obligations. In fact, if this sale does not cover your debt, the lender can (and usually will) sue you for the difference! In addition, homeowners who have been foreclosed on will also have significant hurdles to becoming homeowners in the future because of the serious blow done to your credit score.  This takes seven years to recover, on average.

Allowing your home to be foreclosed upon can wreak havoc on your credit score that could take seven years or even longer to recover from! A foreclosure remains one of the most dreaded financial black marks a person can carry around with them.  Luckily, Tony Buys Homes is here to help you avoid this!

Can You Sell Your Home in Preforeclosure?

The short answer is, of course, you can! Until the foreclosure sale, your home is still in your possession, giving you the chance of resolving your position before having to relinquish it to the lender.  Selling your pre-foreclosed property is legal and is usually one of the best options available to a struggling homeowner. It is important to hire an experienced agent that will guide you through the process of selling your home, as well as calling to notify your lender of your intention to sell. Transparency is your friend during this process, and many people have found themselves still in debt after their home sale because they did not properly prepare! Let Tony Buys Homes help you every step of the way by calling our local Chicagoland & Naperville office at 815-488-6373.

How to Sell Your Preforeclosure Home Quickly?

There are plenty of options available to you even after the foreclosure process has started, but it is important to act quickly! The best solution in many cases is to sell your Chicagoland home to a real estate investor such as Tony Buys Homes.  Companies like us buy homes for fair value in as little as seven days, letting you get back to what matters most! When a cash real estate buyer purchases your home, you are not responsible for renovations, repairs, commissions, fees, or closing costs! Basically, you take your money and avoid the potentially devastating repercussions of foreclosure.

Sell Your Home Quickly to Tony Buys Homes

If you own a preforeclosure home in the Chicagoland area that you want to sell quickly, Tony Buys Homes are standing by to assist you, no matter where you are in the process.. We are a family-owned home investment company in Chicagoland & Naperville that purchases all types of properties from homeowners just like you. We want to give you a hassle-free option for the sale of your home. Contact us immediately at 815-488-6373 to find out how we can help you.