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July 29, 2021
If you’ve fallen behind on your mortgage payments and are now in foreclosure, you might feel like you’re in a hole. It’s hard to climb out when you owe thousands of dollars in late payments and fees, especially when you’re already having a hard time with your finances. Believe it or not, there are ways to turn your situation around. Foreclosure does not have to be the end.
Here are some of the most effective ways that you can stop foreclosure in Springfield VA at the last minute. To speak with 4 Brothers Buy Houses, contact us today. We help people solve their financial challenges.
File for Bankruptcy
If you want to keep your home, you can file for Chapter 13 bankruptcy where you pay down outstanding debts through a structured repayment plan. Chapter 7 is another option for bankruptcy, though we recommend it for those who don’t want to keep their home. Thankfully, you can stay in your home while you go through the bankruptcy process.
Modify Your Loan
This solution won’t work for everyone, as it depends on your lender and the type of loan you have. But it is an option worth considering, especially when you want to keep your home. With a loan modification, you’ll have a new payment that’s more affordable. This way, you can remain in your home and keep paying down your balance while staying within budget.
Get a Deed in Lieu of Foreclosure
A deed in lieu of foreclosure will hurt your credit, just as bankruptcy will. But it can be a last-minute option if you’ve tried other things and want to stop the foreclosure process. In this process, the document transfers the home’s title to the bank that owns the mortgage. This prevents a long and time consuming foreclosure process.
Sell Your Home Fast in Springfield VA
Ultimately, your lender wants their money back. If you can’t afford your home and want to start fresh somewhere else, you don’t have to sit and wait for your home to be sold at auction. This can be stressful – the phone calls, letters, etc. Instead, you can sell your home quickly for cash.
At 4 Brothers Buy Houses, we purchase Virginia properties for cash. We don’t need mortgage financing, which allows us to move through the process very quickly. And because we buy homes as-is, you don’t need to pay for repairs on the home or work with a real estate agent. You can close on your home in as little as seven days and start your next chapter.
To discuss your options for selling your home fast for cash in Springfield VA, contact 4 Brothers Buy Houses today.
July 22, 2021
Tenant Opportunity to Purchase (TOPA) policies allow tenants to purchase the property they’re living in before it’s put up for sale. This anti-displacement tool is designed to protect renters, preserve affordable rental housing stock and stabilize low-income households. Under this policy, landlords must let their tenants know that they intend to sell the home or building.
In return, tenants are given a reasonable timeframe to purchase the property. If they don’t want to move forward, they will at least have time to work out other living arrangements. TOPA policies are being proposed in multiple states, but the nation’s oldest and most comprehensive TOPA program is right here in Washington DC.
If you are looking to sell your rental property in DC but still have tenants living inside, you may have questions about TOPA and what this means for you. Below we provide a breakdown of TOPA and the things to know, but feel free to call 4 Brothers Buy Houses for more personalized information.
What is TOPA in Simple Terms?
In Washington DC, rental property owners must be aware of their tenants’ special rights before selling their property. In terms of TOPA, it is your obligation to offer your property for sale to your tenants first. This allows your tenants to take advantage of the sale and purchase the home they are living in.
If you don’t hear anything after 30 days from contacting your tenants, you can move forward with the sale. If a written offer is received, however, the tenants will have 60 days to negotiate a contract and secure financing.
Selling a Rental Property in Washington DC
As long as your tenants don’t want the property, you can move forward with the sale. You can do a conventional sale, especially if the property is in good condition. But more often than not, rentals need some TLC to get them ready to sell.
If you’re not in a position to put time and money into selling your rental, a better option may be to sell your home for cash. And, this could work out in your favor because according to TOPA laws, you have to restart the process if you don’t find a buyer within 180 days. This essentially gives the tenants another chance to purchase the home.
By selling to a cash investor like 4 Brothers Buy Houses, you can sell your property within a week and not have to worry about TOPA laws.
4 Brothers Buy Houses Will Buy Your Rental Property
Property owners in other states like Maryland and Virginia are usually in a better position than those in Washington DC. But if you’re in DC, you’ll have to follow TOPA laws before selling. 4 Brothers Buy Houses is familiar with these laws and how to make your sales transaction go quickly and smoothly. Contact us today to learn more!
July 1, 2021
Selling a home is not easy, even in a seller’s market. Today’s buyers expect homes to be in move-in ready condition with plenty of upgrades. In fact, many sellers spend thousands of dollars to stage their homes! But if you’re looking to bypass these details and sell your home as-is, a cash sale in Prince William County, Virginia might just be the solution you’re looking for.
What Does it Mean to Sell Your Home for Cash in Prince William County?
When a cash buyer offers to buy your home with no mortgage or financing involved, this is considered a cash sale. The seller doesn’t just show up to your home with a wad of cash, however. There is still a process you must go through, which includes verifying the funds, running a title check and signing the closing paperwork.
The benefit to selling your home for cash is that you don’t have to wait for the buyer to secure financing. This process takes time, especially if there are problems in underwriting. And, there’s always the chance that the buyer’s financing can fall through, causing you to start at the beginning.
On average, it takes a minimum of 30-45 days to sell a home in Prince William County with a traditional sale. A cash sale, on the other hand, takes an average of 7-10 days.
Why Sell Your Prince William County Home to Us
4 Brothers Buy Houses is a trusted home buying company that purchases homes in Virginia, Maryland and DC. We do this full time and have an extensive network of professionals that help our processes move quickly. Below are some of the reasons why you should sell your Prince William County home to us!
We are fast.
With cooperation on both ends, we can sell your home in as little as one week. As soon as you contact us, we’ll get on it and schedule a date to come see your property. This can be done in about one day, and then you’ll get a free, no obligation cash offer. If you want to proceed, we’ll finalize the closing process.
We buy as-is properties.
Does your home have foundation problems? Is it old and outdated? Did previous renters trash it? No matter what you’re dealing with, our cash buyers have seen it before. These types of things don’t scare us! We buy properties as-is and we don’t expect anything from our sellers. Even if your house is in rundown condition, we’ll still write you an offer!
We don’t charge any fees.
There are absolutely NO fees to use our home buying services in Prince William County. Real estate agents do charge about 5-6 percent in commissions, so you will have to hand over a good chunk of money at closing. With 4 Brothers Buy Houses, you get to keep the full offer. We even cover most closing costs!
If you’re looking to sell your Prince William County home, contact our team of cash buyers today. We’ll pay top dollar for your property and close in about one week.