Foreclosure
The letters from the lender are scary, and it is easy to freeze. But foreclosure is a process with steps, and for most people there is still time to sell the house yourself. A sale you control can pay off the loan and put the leftover equity in your pocket instead of an auction's.
- Takes about 2 minutes
- No obligation to sell
What this situation usually means
Once payments are missed, the lender sends notices and fees start to add up. The pressure often feels bigger than the paperwork, because every letter reads like the last one.
The real dates depend on your loan and your state, so a housing counselor or an attorney is the right person to confirm yours. What we can tell you is what a sale looks like from our side: the title company pays off the loan from the sale price, anything left over goes to you, and the earlier you start, the more room you have to pick your closing day.
How Covent helps
We buy the house as it is, so nothing has to be fixed or cleaned out before you sell.
The title company pays the loan and any recorded liens from the sale price at closing, so nothing is left for you to catch up on.
We close in 14 to 60 days from a signed contract, and we can aim for the date that matters most to you.
You get one estimated cash offer and can say no. Nothing is binding until you sign a written contract.
What we need to look at
- The address, and a quick description of the condition.
- About what you owe and who services the loan, if you know.
- Any notices you have received, so we know how much time you have.
Selling to Covent is simple
Enter your address and a few details, and we email you your estimated offer.
Common questions
Often, yes. Many homeowners sell before the auction date, and the loan is paid from the sale proceeds at closing. Because timing depends on your lender and your state, check with a housing counselor or attorney, then tell us your dates and we will work around them.
If the sale price is more than the payoff and closing costs, the difference is yours. We pay the closing costs on our side, so what you owe the lender is the main number to compare against our offer.
We give you an estimated offer first, then a written contract you can read with your own attorney. After you sign, we see the home and confirm a final offer after a full inspection, then close through a title company.
Then you should look at that first, and a housing counselor can walk you through it. Our offer carries no obligation, so asking costs you nothing.
Talk to a specialist
Email Sam, Covent's AI assistant. Sam answers right away and can loop in a specialist from our team.
sam@coventhomes.com
Related situations
Where we buy
We buy houses in Texas, Georgia, Tennessee, Florida, Indiana, Missouri, Kansas, and North Carolina.
Find out what we'd pay for your house
Enter your address to start. It takes about 2 minutes.
- No obligation to sell
- Close in 14 to 60 days