A lot of homeowners facing foreclosure do not realize that selling their home is an option. Or they assume they have waited too long and it is no longer possible. Both of those assumptions are usually wrong.
Yes, You Can Sell During Pre-Foreclosure
As long as the foreclosure sale has not actually happened yet, you still own your home. Selling before foreclosure is completed gives you control. It can mean walking away with money in your pocket, protecting your credit, avoiding a deficiency judgment, and leaving on your own terms instead of being evicted.
The Reality of a Traditional Sale
A traditional sale can work, but only if you have enough time and the home is ready to sell. That combination is rarer than most people think.
In a market like Phoenix, the average home sits on the market for around 90 days before closing. Add in time to prepare and list the home, find a buyer, negotiate, and get through escrow, and you are looking at four to five months minimum if everything goes smoothly.
If you decide to list your home the week before your auction date, it is not going to work. You will not find a buyer in time. And the home needs to be in good condition to sell quickly on the open market. If it needs repairs, the timeline gets even longer. Buyers who need financing also have to be pre-approved, and their loan still has to fund before your sale date arrives.
We see homeowners pin their hopes on a traditional listing and run out of time. It is one of the most painful outcomes we witness, because it was avoidable.
A Cash Sale to an Investor
For homeowners who are short on time or whose home needs work, selling to a real estate investor for cash is often the most practical path. A legitimate cash buyer can close in as little as two weeks, no repairs needed, no waiting on a bank to fund a loan.
We have helped families in this situation get as much for their home as possible. That is always the goal. A good outcome for the family is what we are after, not just a fast close.
But this is also where you have to be careful, because there are a lot of bad actors in this space.
Some investors will knock on your door or call you after your Notice of Default becomes public, throw out a number that sounds great, and then lock your home up under contract. They string you along, run out the clock, and either back out at the last minute or push for a lower number knowing you have no time left. Some do not have the funds to close at all. Others have hidden fees that eat into what you actually walk away with.
Before you sign anything with a cash buyer, verify they can actually close. Ask for proof of funds. Check their track record. Talk to someone else who has sold to them. A legitimate buyer will not have a problem showing you they have the money and the history to back it up.
We Are In Your Corner
At The Homes Hero, we help families navigate this process, understand what a fair offer actually looks like, and protect themselves from investors who are not operating in their best interest. We have done this enough times to know who is legitimate and who is not, and we will tell you straight.
The consultation is always free.
You deserve to know what your home is worth and what a fair deal looks like. Call us before you sign anything.
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