This question was posted May 2011. ------------ Now it is Feb 2014. Things have changed. Many banks who are involved in distressed sales are relying on AUCTIONS.........Even when there is a qualified buyer in place! .....Lot's of buyers are sifting sand looking for deals and think Auctions offer that opportunity. The outcome, however, rarely favors the deal seeking buyer. Addressing Stumpes question, you don't qualify the buyer.....the auction house does.
-------Don Trepper provided a textbook regarding the most frequent options.... more
Hello Stumped, Yes there are plenty of cash buyers in OHIO! Here is the typical demographic though. Largely they are investors looking for a great deal they can make money on. Second group is a mature buyer who can either redo a home, or buys one to live in that is completely redone already.
In your case, it seems like you need either specialized marketing, or you will be facing a short sale. it sounds like you will not be able to pay the bank back if the home were to sell at current home value . Make sure the agent you use is short sale certified if the sale goes that way! (we are) You need a pro to motivate the lender. In the meantime, do everything possible to make the home look good. Clean! I can't tell you how important that is! Even if you cant afford to fix things, keeping the home clean sends a message to the buyer that you are a person of integrity and pride.
You can sell your way out of this! Best wishes, call if you need help. Willoughby is a great area!... more