I’m Filing Bankruptcy and Need to Sell My House
If you are going through bankruptcy, you may be able to sell your house during bankruptcy to pay off your mortgage or generate cash to pay other debts. Current bankruptcy laws allow you to sell your house fast in Cleveland, OH. However, you need to work with the courts to establish an arrangement for selling the house and determine where the sale proceeds will go.
If time is an issue and you need to sell your house fast for cash, you may have difficulty listing it on the market and hiring a realtor. On average, it takes 60 to 90 days to sell a house. You can go with a For Sale by Owner (FSBO) option. However, it generally takes longer to sell your house on your own. Your best option may be to sell your house fast for cash to a local home buyer in Cleveland, OH.
What is the Process for Selling Your House During Bankruptcy?
The process for selling a house during bankruptcy can be different for each person depending on the circumstances, the trustee, and the court involved in the case. Regardless of your situation, there are some things you need to consider when selling your house for cash to a local home buyer.
Make Sure All Parties Are Informed
Before you move forward with the sale of your house, you need to inform or relevant parties of your intent to sell. For instance, you need to reach out to the following entities:
- The court/judge in charge of the case
- Your bankruptcy trustees
- The lawyer handling your case
- The mortgage company
- The local home buyer
When you communicate with all parties, you involve them in the process so that there are no surprises.
Don’t Wait to Sell Your House Fast
If you are going to sell your house fast during bankruptcy, you need to speak with a local investor as soon as possible. Fortunately, a home buyer can close on the sale in as little as seven days. You can also avoid appraisals, inspections, finding a buyer, and a long, drawn-out closing process. The sooner you get started, the sooner you can get cash in hand to pay off debts.
Submit a Statement of Sale
Once you closed on the house, you need to provide your attorney with a statement of sale. The statement provides key information such as the home’s final sale price, closing-related deductions, and how much is left over from the sale. You are also required to make any trustee-ordered payments during the motion to sell phase.
Discharge Your Debt
If the profit from the sale can pay off your mortgage or other debt, you can expect a discharge of your bankruptcy shortly after the sale. The trustee will order the discharge, which will be signed by a bankruptcy judge and sent to you in the form of a final decree. This document is important to keep, as it proves you are out of bankruptcy.
Avoid the Hassle of Putting Your House on the Market
Did you know that, on average, it takes 60 to 90 days to list and sell your house on the market if you go through a real estate agent? You could also pay for considerable out-of-pocket expenses while spending countless hours getting your house ready to sell. Consider these expenses associated with a traditional house sale:
|Listing costs||Marketing costs|
|Realtor commissions||Appraisals and inspections|
|Taxes and title transfers||Closing costs|
You may not have considered how much it takes to repair or renovate your home. If you must replace the roof, windows, plumbing, AC, or electrical system, you could spend thousands of dollars before the inspector approves the sale of your home. In the end, you may need to ask yourself, "Is it worth it?"
With Home Buyers Ohio, you can eliminate all these costs and sell your house as-is in as little as 30 days. Simply schedule a quick walkthrough with one of our local house buyers and let us make a fast cash offer. We are the company that buys houses as-is.
How Do I Sell My House for Cash?You may be wondering, “How do I sell my house fast?” We make it easy to get out from underneath your property in just three steps:
Step 1: Call Our Local House Investors
Call us today and schedule a quick walkthrough with one of our house buyers. We can assess your property to decide if we would like to move forward with a purchase. If so, we will make an offer within 24 to 48 hours. Do not worry about preparing or cleaning your property. We buy houses as-is.
Step 2: We Will Make a Fair Cash Offer
If we like what we see, we will make a cash offer on your house at just below its current market value. We will not try to buy your house at a rock-bottom price. Instead, our local house investors try to create a solution where everyone benefits. As local buyers, we understand the real value of your property in Ohio.
Step 3: We Pay You Cash
If you accept our offer, then you can schedule a close date that is convenient for you. In most cases, we can close in as little as seven days and have cash in your hand in only a few weeks. We pay all closing costs. You pay nothing. Simply walk away from your property with no strings attached.
Work with Our Local House Investors in Cleveland
We work with homeowners in the following areas:
Sell My House Fast in Cleveland, OH
Before you contact the realtor or list your house on the market, do not pass up the chance to sell your house as-is for cash. Home Buyers Ohio is here to help you find the simplest solutions to get cash-in-hand quickly without wasting time and money on repairs and closing costs. To get a fast cash offer, call 440-490-4600.