Distressed Property Solutions
What are your options if your property is in pre-foreclosure or foreclosure status? Can you sell your property that has been damaged by fire, natural disasters, or unable to maintain due to financial hardship? These situations are examples of complex situations that may require a Real Estate Professional to provide you with solutions and assist you through the process. Every situation is unique. Contact us today for a complimentary consultation to discuss your personal situation.
Are you behind on your mortgage payments, having are some challenges making your mortgage payments, or maintaining your property? Perhaps you had a mortgage modification agreement with your lender, missed some payments, and now your Lender has notified you that they are commencing Foreclosure proceedings on your property. Sometimes property owners are affected by natural disasters, a fire, non- paying tenants, and many other factors which can it difficult to maintain their properties and mortgage payments.
Here are some examples of solutions we can provide:
List your home, and sell it: Even if your property is in disrepair, needs upgrades, has non-paying tenants.
Refinancing Options: Some instances require creative financing solutions .
Negotiation a Short Sale with your Lender: If you qualify, negotiate, and sell your property with your Lender's approval.
Purchase your Property: We buy properties, and may make you an offer to purchase your property.
Frequently asked questions regarding Short Sales:
How do I qualify to sell my property as a Short Sale? You must be behind on your mortgage payments, the current value of your home must be less than your mortgage payoff amount, and you must demonstrate financial hardship that has prevented you from making your monthly mortgage payments.
Can I stay in my home? Yes, you may stay in your home during the Short Sale negotiation process until completion of your Short Sale, as long as the Bank has not completed the Foreclosure process against you.
Why should I list my Property with RE/MAX VOYAGE REALTY? The Broker for RE/MAX VOYAGE REALTY Andrew Fernandez is an experienced Certified Distressed Property Expert, and can act as a Liaison between you and your Lender to negotiate your Short Sale on your behalf.
Who pays the Broker's Commissions? The Lender pays the Broker's Commissions.
How long does it take for a Lender to approve the Short Sale? It can take anywhere from 2 weeks to 120 days for your Lender to approve, or reject your Short Sale.
Frequently asked questions regarding Distressed Properties in disrepair:
Can I sell my property if it is severely damaged due to natural disaster, fire, tenants, or inability to maintain? Yes, you can still sell your property despite its present condition. It's likely that the property may not qualify for a conventional mortgage buyer. However, an investor or an experienced contractor may be willing to purchase your property in "AS IS" condition and make you an ALL CASH OFFER.
Can I sell my property with a non paying tenant? While it may be more difficult to sell, yes an experienced investor may be willing to purchase your property under the condition that it will be sold with occupants.
Can I sell my property if there are violations and fines against the property? Yes, violations and fines can sometimes be negotiated and or cleared. If not, the buyer must be willing to take the property in "AS IS" condition and include the fines and violations. All subject to negotiation, and agreement of all parties.
Can RE/MAX VOYAGE REALTY help me sell my New York property even though I live out of New York State? Yes, RE/MAX VOYAGE REALTY can assist you to sell your property even if you're not living in New York. We have tools and technology to assist with signing documents electronically and marking tools to get your property sold. Not to mention keep an eye on your property for you.
All these scenarios present their unique challenges. Let us provide you with a non obligation Complimentary Consultation. Contact us today!