Tag Archives | local-house-buyers

How to Stay in my Home after Foreclosure in Louisville

How to Stay in my Home after Foreclosure in Louisville

How to Stay in my Home after Foreclosure in Louisville

A recent study estimates that 47% of foreclosed properties are still occupied.

When you first see that stat you may be surprised… but we’re not.

What most people don’t realize is that banks aren’t in the business to own homes.

They are in the business to loan people money. But when they have to foreclose on a house… the bank is forced to own the home until they’re able to sell it to get all or most of their money back.

But, what they had found is that when a Louisville foreclosed house goes vacant… there is a much greater chance that the house will fall into disrepair.  Often times the bank would rather have you in the property even after you stop paying your payments and the foreclosure is started because it wards of vandals and keeps the house in good working order.

There’s been a lot of talk in the media about people living for free after foreclosure – and even many stories about banks “abandoning” properties.

In those stories, people are avoiding house payments for months, even years.

Man, that sounds great! Let’s all live for free. (wink)

Wait… it can’t be that simple, right?

Right.

No bank would purposely neglect collecting payments. The only way that you get to live without making any payments is when some major mistakes were made.

But you might get lucky! It’s possible, and it’s happened before. However, it’s not exactly legal to avoid payments that you owe, and it can get you in serious trouble.

So why are so many foreclosed homes occupied? It’s important to remember that no one wants the house to be vacant. Vacant homes are targets for vandalism and crime.

Staying in the property can help the bank maintain the value of their investment, so it’s actually in their best interests to keep it occupied. Partly because of the ways that the foreclosure laws are structured in Kentucky, banks may ask you to leave while wanting you to stay.

There are a few perfectly legal ways to remain in your home, even after foreclosure.

How To Stay In My Home After Foreclosure In Louisville

Not all these options are available (depending on your situation and your lenders), and you’ll need some expert advice along the way to help you get through.

1) Wait it out. Honestly, this is a pretty bad option, but it seems to be increasingly common. You definitely shouldn’t run away and abandon your house when the first notice of default shows up. Remember that the proceedings and the process takes months and sometimes years. It’s not over until it’s over, so don’t give up too early. On the other hand, don’t wait until the sheriff shows up to evict you to start packing up your stuff.

2) Go to court. In very rare cases, judges are granting stays and delaying evictions. This is really only a valid option if you (and your attorneys) can prove that the bank has neglected a legal requirement during the foreclosure process. During the past few years, a lot of fraudulent behavior at banks has been uncovered – so we may see an increasing trend of using the courts to stop foreclosure. Fighting banks with lawyers is very difficult, expensive and time-consuming, even if you’ve got a perfect case (most people don’t stand a chance).

How to Stay in my Home after Foreclosure in Louisville3) Propose a move-out bonus. Often buyers of occupied foreclosure properties spend thousands of dollars on lawyers and other costs of eviction, so why not save everyone the time and expense by taking some of that money yourself? It’s known as “cash for keys”. It sounds a little greedy, but greasing the wheels does help everything to run smooth. Plus, you can help out the bank and the buyers by not abandoning the house to squatters before they’re ready to take possession.

4) Rent it back. It may sound crazy, but some banks are willing to take on previous homeowners as tenants in their property. That’s only a short-term fix, as they’ll want your agreement to vacate the premises as soon as they find someone to purchase the property. In some cases, we can even purchase the property and rent it back to you.

It’s really good that you’re reading this page and exploring your options. We help homeowners like you to find creative solutions.

We can’t help everyone, but we might be able to help you.

We buy local Louisville KY houses like yours from people who need to sell fast

Give us a call anytime at (502) 631-9392 or
fill out the form on this website today! >>

 

Photo by Sean Bonini

 

Comments { 0 }

We Buy Houses In Louisville Companies – Are they credible?

We Buy Houses in Louisville Companies

We Buy Houses In Louisville Companies

If you’ve been driving around in Louisville, chances are you’ve seen some billboards advertising companies that buy houses.

Often times they say things like “We Buy Louisville Houses!” or “Cash For Your House”.

Are these “we buy houses in Louisville companies” credible?

How do I know if the local house buying companies out there are honest and credible?

Well… sometimes they all look the same at the start… but below we’ll walk you through some things to look for in a local house buying company before you should work with them.

Buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. But just like any other line of work – a minority of house buyers in any market are the ones who make the rest of us look bad.

There are people who are really great, ethical folks who improve their neighborhoods one property at a time.

And then there’s shady, dishonest people who put money ahead of the well being of their clients and who would sign the contract to sell their own grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money.

Yes, they are out there.

We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all cash offer and close on your schedule.

But let’s not focus on the negative – at least not yet.

First, let’s cover exactly what the best house-flippers are doing.

What Reputable Louisville House Buyers Are Doing

  • Helping folks improve their lives by accessing the money they need right away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. We can make that happen in just a few days, and we deliver peace of mind.
  • Helping sellers get rid of a burdensome property without the hassle of having to list it with a broker and wait months and month for a sale.
  • Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Louisville Kentucky.
  • Buying US products. We spend tons of money on materials that are made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centers and more. The US economy depends on steady improvement, and that requires investment from folks like us.
  • Increasing the value of Louisville neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Louisville.
  • Increasing the tax base. When a new buyer takes over one of our properties, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure.  Again, improving our neighborhoods.

Pretty cool stuff, right?

Lots of people think of house-flipping as a get-rich-quick scheme. That’s fueled by silly “reality” shows that amp up the drama because the reality of what we do on a daily basis is actually pretty boring.

Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of lots of moving parts.

So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.

How To Ensure You’re Working With A Reputable Local House Buyer

When you talk with a local house buyer to potentially buy your house… ask them some of the questions below to ensure they’re reputable, knowledgeable, and honest.

Reputable House Buying Companies In Louisville

Reputable House Buying Companies In Louisville

Ask open-ended questions like:

  • How do you help your clients?
  • What do you do for people?
  • Can you tell me more about your services?
  • What aspect of your business makes you the most proud?
  • How would you describe your investment philosophy?
  • How can I know that you’ll close on my house when you say you will?

Second, look for tell tale signs of tactics that those few shady operators tend to use.

  • “Kitchen table closings” – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house, rather than a professional place like a closing attorney or title company… be leery.  Most reputable house buying services will perform the actual closing of the sale at a neutral 3rd party place… like a title company. This ensures everything is done right and on the up and up.
  • Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be leery. Most reputable house buying services will make you and offer and that offer will be on the table for at least 2-7 days (minimum) for you to make a decision.  The reason reputable house buying services like ours at Fast Cash House Buyers, LLC do place deadlines on our offers is because the market changes and values can change week to week depending on other sales in the area, also… we buy multiple houses a month and when we make you an offer we’re assuring you that the cash to purchase your house is ready and we’ll reserve that cash for several days so if you do want to sell your house, we can close on your schedule.  If you feel the offer isn’t a fit for you, then we’ll assign those funds to help another seller with their home sale.

Most scammers are looking for a quick score, and not an in-depth interview.

Chances are good that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions.

True investors who run honest and ethical Louisville house buying services, however, are building long-term businesses based on relationships and community development.

So when you’re looking at one of the “we buy houses in Louisville companies“… never be afraid to ask questions!

Give us a call anytime at (502) 631-9392 or
fill out the form on this website today! >>

 

Photo by John Sharin

 

Comments { 0 }

Selling My House for Cash in Louisville

Selling My House for Cash in Louisville

Selling My House for Cash in Louisville

Should you take a cash offer for your Louisville house?

Not always.

I’ll tell you how to sell any property for cash, some reasons to refuse a cash offer – and when you shouldn’t say no.

 

Selling My House For Cash In Louisville

If you’re selling a property in Louisville to an end buyer (the person living in the home), chances are good it won’t be bought with cash.

Most transactions close with a bank loan, because most buyers don’t have the funds.

This isn’t news.

Even most investors don’t close transactions with cash. It’s easy to let a bank share the risk, even if you have the money – most investors spread themselves too thin.

At Fast Cash House Buyers, LLC in Louisville, KY (502) 631-9392 we don’t spread ourselves too thin, because our primary goal is to build stable communities around Louisville.

In most cases, we’ll pay cash for your Louisville Kentucky property. Selling My House for Cash in Louisville.

 

The Benefits Of An All Cash Sale Of Your House

The benefits of a cash sale are real:

  • money fast
  • when you need it most
Sell My House Cash

Benefits of a Cash Sale

You don’t have to deal with the hassles of waiting months for a buyer to get a mortgage, only to be told that the lender eliminated the program and you’re back to square one.

You don’t have to list your house with a real estate agent and pay a huge commission.

You don’t have to deal with a lot of people just “kicking the tires” and checking out your property for fun. We don’t waste your time. This is our business.

You don’t need to paint, make repairs, or even clean up. We take properties just as they are. You won’t waste money on junk haulers or contractors.

You don’t need to deal with any paperwork. We have it all covered.

 

Working With A Reputable Louisville House Buyer / Investor

Always make sure that your cash buyer is reputable. At Fast Cash House Buyers, LLC in Louisville, KY (502) 631-9392, we offer great references of past sellers we’ve helped, we can show you examples of some of the latest projects we’ve worked on, and we’ll be happy to answer any questions you have so you feel comfortable.

We pride ourselves on being a strong part of the Louisville community.  Our local mission is to help local Louisville, Kentucky homeowners who need to sell your Louisville house fast do it quickly, at a price fair to you, and to help improve the beauty of neighborhoods one house at a time.

If you’re wondering about selling your house for cash in Louisville or just need to sell a property near Louisville, we can help you.

We buy properties like yours from people who need to sell fast. Selling My House for Cash in Louisville.

Give us a call anytime at (502) 631-9392 or
fill out the form on this website today! >>

 

Photo by Walter Aymen

Comments { 0 }