If you are going through a bankruptcy, during the actual proceedings, in other words, after you have filed, until the bankruptcy is granted, you will not be able to sell your house unless ordered to.
Should I Sell My House to Avoid Bankruptcies?
It depends, and you must make this decision based on your specific situation. However, for many people, it does make sense to sell your home to avoid bankruptcy.
A whole cultural revolution of downsizing encourages people to sell their large or expensive homes to cover bills and start over without the burden of bankruptcy on their record. This can be a great option if you are considering bankruptcy, are just looking to streamline your finances, or are making dramatic changes to your lifestyle for other reasons.
Can You Sell Your Home After Chapter 7 Discharge?
The legal discharge means that the process is over, and in this case, you will be able to sell your home. However, doing so may have legal and financial ramifications, so you will need to contact your bankruptcy attorney to ensure that you understand all of the ins and outs of the buying and selling process.
How To Sell Your Home Before Bankruptcy
If you are trying to avoid bankruptcy, one of the best things you can do is sell your home for cash and pay off your debts. Many people sell their homes and then choose to either rent or purchase a smaller home and use the remaining proceeds from their home sale to offset bills.
Filing bankruptcy or allowing liens on our property to persist will end with someone else in control of your financial situation. As a property owner, sometimes it’s just best to “stop the bleeding” yourself. You can nip the problem in the bud by selling your home and using the proceeds to decide how to handle your debt.
This will allow you to opt for strategies like tackling credit card debt, eliminating liens and garnishments, downsizing or relocation that may be far more attractive to you than filing a bankruptcy.
Did you know that in many cases, if you sell your home to a cash buyer, that capital will give you a way to work directly with your creditors to pay off your bills? In some cases, creditors may even be willing to accept a lesser amount if you can pay them a lump sum amount in full immediately.
Who Buys Homes Before a Bankruptcy?
Handsome Homebuyer is a professional home buyer and investor who will work with you to sell your home under almost any circumstance, including before or after you file a bankruptcy. They can provide you with a unique opportunity to have a guaranteed sale at a guaranteed price so that you can consider the value of your home and how selling it will impact your finances.
A quote from Handsome Homebuyer is a great tool for helping you plan your financial future and strategy to get out of debt. It will even give you grounds to negotiate with lenders to whom you may owe money or even be behind with.
If you are ready to sell your home now and get a fresh start, or you need a cash home buyer, reach out to Handsome Homebuyer today. They are a transparent and professional company that can help you seamlessly get through the home selling process no matter your current situation.
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