Frequently Asked Questions
Questions? We are here to answer all of your questions. If you would like to schedule a call, text us or meet us in person, just complete the form at the bottom of the page and let us know how you would like us to reach out to you.
Q: What can I do to avoid foreclosure?
A: We assist homeowners facing challenges by offering options for their property. Upon reaching out and sharing details about your home, we’ll provide insights on potential actions and the financial outcome if you choose to part ways with the property, or if you want to make an effort to work something out with the lender and creditors and repay them in order to keep it. Whether your property is in a negative equity situation, has additional liens, and judgments, or is in poor condition, we offer a free assessment to determine the potential proceeds from a quick cash sale or a short sale. We are also able to asses houses that the owner has died and check surrogate court to see if anyone has been appointed administrator, filed a petition for surrogate proceeding, or a will was filed to appoint an executor on behalf of the estate.
Q: What if the property is in poor condition?
A: Numerous buyers and investors acquire distressed properties below market value with the aim of reselling them for a profit to new homeowners. At Homeowners Resource Group, Inc., we focus on creating mutually beneficial solutions, ensuring you depart with maximum proceeds without any lingering debt. We are able to help you with selling the property in as is condition quickly if you decide you no longer want to keep the house. To delve deeper into the topic, download our guide on the Pros and Cons of selling to a real estate investor. See the button below:
Q: How is the value of the property determined?
A: The property’s current market value is gauged through the sales of similar homes in the vicinity, factoring in repair, closing, and holding expenses. Additional considerations include any existing judgments or liens. In cases where the property carries more debt than its appraised value, the short-sale lender dictates its worth. The property is sold as-is, eliminating the buyer’s need for any pre-sale repairs. In most cases, the seller is able to walk away with money from the short sale or short pay, as long as it is approved and disclosed to the lender.
Q: Do I need a real estate agent? What is their fee?
A: The listing agent, serving as the short sale negotiator, receives compensation from the commission on the HUD settlement statement provided during the short sale closing. We have many short sale specialist real estate agents within our network that we can recommend you to. The bank and the buyer bear the associated fees, not directly by the seller. Additionally, a real estate attorney is required for representation in the transaction, and their fee is deducted from the sale proceeds upon closing. We also have a long list of foreclosure defense attorneys and short sale attorneys that are paid by the bank upon closing, and not by the seller.
Q: How are you different from everyone else?
A: Homeowners Resource Group, Inc. is a real estate solutions and consultant dedicated to assisting homeowners in understanding their full range of options. We are foreclosure and short sale specialists and have helped thousands of homeowners and their relatives to avoid foreclosure on properties that they wanted to walk away from. We specialize in resolving challenges many other real estate professionals cannot address and successfully close deals others might find challenging. Our mission at Homeowners Resource Group, Inc. is to support homeowners in tough situations in New York, without asking for any payment from them. As local New Yorkers (Long Islanders), we prioritize the well-being of our neighbors, ensuring long-lasting business relationships by consistently doing right by our clients. We are also accredited with the Better Business Bureau- you can see our page here:
https://www.bbb.org/us/ny/islip/profile/real-estate-consultant/homeowners-resource-group-inc-0121-87172910
Q: Is there any obligation when I submit my info?
A: You are under no obligation whatsoever. After we provide you with the available selling options, deciding what to do next is entirely yours. All we are going to do is give you an overall assessment of what is owed, through the mortgage and any other liens or judgments, figure out who is able to sell the property on behalf of the owner if it is an estate, and tell you what you can walk away with if you decide to sell it as a quick cash sale or a short sale.
Q: Do you want me to clean my property before you buy it?
A: The good news is you do not need to clean or repair anything in your property. Leave it as it is; we’ll handle everything after purchasing your home. As we tell people, “take what you want, leave what you don’t.” You do not need to do a single repair, adjustment, and we are not going to ask for any sort of inspections to be done. This convenience is one of the perks our clients truly appreciate when selling this way.