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How to Sell Your House to a House Buying Company While Filing for Bankruptcy

Posted on by Henry

Bankruptcy can be a trying time for anyone, and selling your home during bankruptcy can make the situation even more daunting. Fortunately, there are ways to work with your bankruptcy attorney and sell your house without worrying about foreclosure or eviction. If you’re looking to sell your house quickly and without hassle, check out this link: https://www.as-ishomebuyer.com/.

Here are some strategies to sell your house while going through bankruptcy:

Assess the Market Value of Your Home

When trying to sell your house during bankruptcy, the initial step should be assessing its market value. You can do this by getting estimates from real estate agents and other online sources. Ultimately, you want to determine what price your house could sell for in today’s competitive marketplace.

Once you know the market value of your home, start searching for a real estate agent who can help sell it. Find someone with plenty of local experience selling homes and ask if they would accept payment from any proceeds when the house sells.

Hire a Real Estate Attorney

Your next step should be to consult with a real estate attorney who specializes in bankruptcy law. They can advise you whether or not selling your home during bankruptcy makes financial sense and how best to go about doing it. They may also negotiate with creditors who may try to foreclose on the property and help coordinate payment of the mortgage while you go through the bankruptcy process, helping avoid foreclosure.

Notify Your Creditors

Before you can sell your home during bankruptcy, it is essential that you notify anyone with an interest in the property of your intentions. If the bank is close to foreclosure and the mortgage holder isn’t making payments, agents from the mortgage company may try to gain access to your house before you are able to sell it. In such cases, an attorney can help draft an agreement between both parties detailing how they will pay off their respective loans if there are no other means available for them to get their cash.

Do You Need a Court Order

Are you concerned about selling your home before your bankruptcy case is concluded, you can ask the court to issue an order preventing creditors from foreclosing on or making any sort of claim on it. This will give you time to get the house sold without worrying about creditors trying to take it away.