PROMISE LAND PROPERTIES

Sell Your House Before Foreclosure

Sell Your House Before Foreclosure. Learn what to gather, what affects an as-is sale, and how to request a cash offer from Promise Land Properties.

Start with the deadline, not the offer.

Gather your latest mortgage statement, any default or sale notices, and a current payoff request. Tell us about any scheduled sale date before discussing a closing.

Compare before committing

Compare a sale with assistance from your servicer. Ask escrow whether the proposed closing can resolve the amounts owed within your actual deadline.

Questions worth asking

• What information does the buyer need to review the property?
• What costs and balances would come out of my proceeds?
• What happens if the closing is delayed?
• Who is responsible for possession, access, and belongings?

What we need to know

You do not need every answer before sending the address. These details help us understand the property and the parts of a sale that will need attention.

• Any written default or sale notices and the date shown on them.
• The mortgage servicer’s contact and a current payoff request.
• Whether you have already spoken with a housing counselor or attorney.

What affects an as-is offer?

The property’s condition, location, access and the work involved all matter. Ownership, occupancy and deadlines can affect how a proposed sale is structured. Share reports and estimates you already have, and separate known facts from things that still need checking.

Ask the buyer to explain the offer and the terms. Check the price, inspection period, deposit, cancellation rights, closing expenses and possession date. A cash offer can still have conditions. Get the agreement in writing and take time to review it.

Cash offer or listing? Compare what you keep.

A listing may bring a higher sale price, especially when a house is ready for the market. An as-is cash sale may fit better when repairs, showings or timing are the bigger problem. Compare the actual terms before you decide. Ask for a written net sheet.

What happens after you send the address?

We discuss the condition and your timeline, then the information or access needed to review the property. You can decide whether any proposed offer fits your goals. Sending an inquiry does not require you to sell.

Behind on your mortgage? Contact your servicer and consider free help from a HUD-approved housing counselor. A property inquiry does not stop a foreclosure or extend a deadline. Find independent mortgage help at the CFPB.