Can I Sell My House Before Auction in Baltimore County?

Yes! You can sell a house in Baltimore County before it goes to auction. 

Fortunately, there are several selling options for Maryland homeowners facing foreclosure. Each with its own considerations and outcomes, particularly when dealing with mortgage payments and potential default.

Selling your house before auction can help you avoid the negative impact of a foreclosure on your credit while also providing a faster resolution to the situation.

Read on to discover if selling before auction is a good fit for your situation in Baltimore County, especially if you are in pre-foreclosure.

Selling baltimore county property before auction
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Disclaimer: This blog post and website provides general information on Maryland real estate. Maryland Estates, LLC, doing business as Creo Home Buyers, and its authors are not liable for the accuracy or use of this information; consult with a trusted real estate professional or attorney for guidance regarding your unique selling situation.

Short Sale

A short sale involves selling your home for less than what you owe on the mortgage. This option can be beneficial if you owe more than the house is worth and want to avoid foreclosure. However, it can be a complex process that requires approval from your lender.

Short sales often take several months to complete. You have to deal with negations with your mortgage lender and potential buyers. Additionally, you may still be responsible for paying the difference between the sale price and the remaining mortgage balance.

Deed in Lieu of Foreclosure

Another option to consider is a deed in lieu of foreclosure. This is where you voluntarily transfer ownership of the property to the lender to satisfy the debt. Handing over the deed can be a quicker and less damaging alternative to going through the entire foreclosure process.

However, a deed in lieu of foreclosure can also have negative consequences on your credit score. This method also may not always release you from all obligations related to the mortgage, such as second liens or unpaid taxes. Additionally, you will not receive any proceeds that you might have if you had sold the property.

Traditional Sale

A traditional sale involves listing your home with a real estate agent on the open market and selling it to a buyer for fair market value. This option requires a lot of time and effort to prepare the property for sale, find a qualified buyer, and navigate the closing process, especially challenging for houses in foreclosure.

Although a traditional sale can yield a higher sale price compared to other options, it may not be feasible if you are facing imminent foreclosure and need to sell quickly to avoid it.

Seek Legal Help

When dealing with the complexities of selling a house before auction in Baltimore County, it is essential to seek legal advice. A real estate attorney can provide guidance on your options, negotiate with lenders on your behalf, and ensure that the sale process complies with legal requirements.

Legal assistance can help you understand the implications of each selling option, protect your rights as a homeowner, and facilitate a smooth transaction that minimizes potential risks.

Sell Your House Before Auction Fast for Cash

If you need to sell your house quickly before it goes to auction, consider selling it for cash to a reputable cash home buyer. Accepting a cash offer can help you avoid going to a foreclosure auction. Selling your house for cash will also allow you to skip over the time-consuming process of listing the property with an agent.

Selling for cash typically involves selling the property in its current condition, allowing you to skip repairs and other preparations. This can save you time and money while providing a timely exit from the foreclosure situation.

Contact us at Creo Home Buyers today for a free consultation and cash offer! We buy houses in MD, including those facing foreclosure or in pre-foreclosure. There is never any obligation to accept. We can work with your bank or lender to stop your Baltimore County house in foreclosure from going to auction so you can sell fast for cash. 

It takes just 5 minutes to complete our home offer request form or we can be reached at 410-870-9228. We look forward to speaking with you about how to sell your house before it goes to auction in Baltimore County.

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