Quality real estate services Nassau, NY? Avoiding foreclosure? Facing divorce? Moving? Upside down in your mortgage? Liens? It doesn’t matter whether you live in it, you’re renting it out, it’s vacant, or not even habitable. We help owners who have inherited an unwanted property, own a vacant house, are behind on payments, owe liens, downsized, and can’t sell… even if the house needs repairs that you can’t pay for… and yes, even if the house is fire damaged or has bad rental tenants. Discover even more details at We buy homes New York.

Another thing you should know about buying foreclosure properties in New York that have reached the auction or post-foreclosure stage the properties will sell as-is. There is no allowance for inspections; the property may have existing liens, and the buyer must pay cash. Post-foreclosures are also known as real estate owned properties (REOs), wherein the property didn’t sell at the auction, the lender will now sell to recoup their losses on the mortgage loan, without the cash requirement of the auction. These properties can be appraised and inspected, and while you may be able to negotiate with the bank, it will likely require much more patience than typical investment properties.

Signing the mortgage back over to the lender and walking away, known as a deed in lieu, is another way you can stop foreclosure in New York, satisfying the loan. However, you should be aware that junior liens, such as equity loans attached to the property through the deed, are undesirable to the lender and may prevent you from taking this route. In this scenario, foreclosure is more favorable for the lender because it will wipe out those existing debts. A lender will not act upon this option without your reaching out in writing and stating to the lender that you’re making this offer voluntarily.

Calculate the value of selling your house fast vs. “waiting it out” for a dream price: We all want to sell our houses for as much as possible. But one thing many people forget to do is come up with the $ amount of how much it costs you to hold onto this house. The costs involved include the mortgage (which if you’re still within the first 10 years of the mortgage, the majority of your payment interest and not hardly going to principal at all), insurance, taxes, maintenance, etc.Lets say you want to sell your house for $200,000… and your mortgage payment is $1,200/mo, taxes $200/mo, $100/mo for insurance, and $100/mo for maintenance (lawn maintenance, repairs while you’re gone, etc.).Those expenses add up to $1,600/mo in “non equity building” expenses.If it takes you 7 months to sell that house through a real estate agent for that $200,000… it cost you $11,200 in DIRECT “holding costs” + you had to pay $12,000 in real estate agent fees (assuming 3% for the buyers agent and 3% for the sellers agent).Totaling $23,200 in LOST money. That doesn’t even account for the value of your time, your stress in thinking about that property sitting on the market, the opportunity cost of what you could have been doing with that extra money during those 7 months, etc. So the real cost to you was likely closer to $30,000.But, what if you were to sell your house next week and avoid all of that?Even if you sold for a discount below the retail price (lets say… $175,000)… you’re still ahead of the game by selling the house NOW at a discount to a home buyer like our company vs. 7 months later at full price (and paying holding costs and real estate agent fees).Make sense?

While it may sound like a windfall, inheriting a property more often than not is a costly experience. Additionally, these homes are usually older. As homes age, problems develop that can make the house expensive to maintain or repair; many encumbered by the deceased’s debts legally attached to the property through liens that heirs must pay off from the sale proceeds. Finally, while the probate courts drag on, the monthly bills and all other financial responsibilities fall upon the shoulders of the heirs. Understanding that you’re dealing with motivated sellers for these reasons when considering your offer is our next tip for investors looking for probate properties in New York.

When you contact us and submit the short property information form (below), we’ll give you a fair all-cash offer on your house within 24 hours… and the best part is: we can close whenever YOU choose to close – it’s entirely up to you. It doesn’t matter what condition the house is in, or even if there are tenants in there that you can’t get rid of… don’t worry about it. We’ll take care of it for you. And if you need the cash quickly, we can close in as little as 7 days because we buy houses with cash and don’t have to rely on traditional bank financing. Find more info at https://www.123webuyhouse.com/.