How to get fast cash in foreclosure

What is a good offer on a foreclosure?

How much to offer on a foreclosure depends on your situation. One must take time and circumstances into account. Ask yourself what can I afford to except form house. Sit down and do the real numbers. The question should not be “how much less can you offer on a foreclosure”? The question is better to be  asked is “How much can I afford to except to be offered?” One of the first things you must do is find out “how long does it take for a bank to accept an offer on a foreclosure?” In my experience, a long time. And time will not be on your side. If that is the case, give 6 Minute Offer a call to see if we might be able to help you. We can't promise to save your home but we will exhaust all options to do so. 

 

Do you have to have cash to buy a foreclosed home?

No, you do not need cash to buy a foreclosure. But it does help speed things up rather quickly. Hard money loans for foreclosures are similar to cash. They can be approved and funded within 7 days or less. But here is the catch, the only deal with investors and not owner-occupants. 

 

Financing a foreclosure that needs repairs not easy. Most banks won't lend on a house that is not in livable condition. Choosing to go with a Cash Buyer or Investor is a great option for those that fall into this group. The process is quick and painless.

 

Financing a foreclosure that needs repairs

Buying a foreclosure is one thing and selling one is another. Different rules apply. Many of them in your favor and some that are not. If you sell to a retail buyer the bank will want repairs to be made before closing can happen. On the other hand, if you sell to a cash buyer no repairs are needed in order to close. It really comes down to the amount of money yo have at your disposal. The more money you have, the more repairs you can make, and the better offers you will receive. The less money you have, the fewer repairs that can be made, and the worse the offers received. Keep this in mind when making your decision.

 

6 Minute Offer is dedicated to helping homeowners out of tough situations. If you feel we can be of assistance to you reach out to us today at (816)281-5141. We are here to serve you. Also, Check us out on Youtube and Facebook for free videos and content. 

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