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Does Bankruptcy Prevent Me from Selling My House

Does Bankruptcy Prevent Me from Selling My House?

If you are getting ready to file bankruptcy, one of the issues you may need to consider is what to do with your house. Although bankruptcy may allow you to keep your house, you will likely have to continue paying your mortgage. In many cases, the mortgage is adjusted based on an agreement between the lender and the bankruptcy trustee or court. 

If you plan on getting out of your mortgage, you may be able to sell your house fast for cash so that you can pay off the mortgage balance and any other debts. Selling your house to a local home buyer in St. Louis, Missouri, may even prevent you from having to file bankruptcy, allowing you to keep your credit intact.

Can I Lose My House in a Bankruptcy?

There is no definitive answer to that question. Whether you lose your house in bankruptcy largely depends on three factors.

Bankruptcy Type

There are two main types of bankruptcies: Chapter 7 and Chapter 13. The difference between the two involves exemptions that you are entitled to. Bankruptcy is designed to give you a fresh start, not leave you broke. Therefore, the federal government allows certain exemptions. If your property is worth less than a specified dollar amount, you can keep it.

Home Equity

When deciding whether your property is exempt, the trustee considers your house’s equity. Equity is the market value of your house minus the balance on your mortgages or home equity loans. If you have equity in your home over the exemption limit, you may be forced to sell your house to pay your debt or buy it back by paying the trustee the value of your house.

Your Mortgage

Assuming you kept your house throughout the bankruptcy process, you are free to keep your home if you continue to pay the mortgage after the bankruptcy. It may be that after you are free of all the rest of your debt, you will be able to afford the mortgage payments. If so, you’ll be able to keep your house.

    Get Your Fair & Honest All-Cash Offer Today! No Obligations!


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    Can I Sell My House During Bankruptcy?

    Once you file for bankruptcy, a trustee is assigned to your case to assess your house’s value and assets. Since your house is shielded under bankruptcy, the mortgage cannot foreclose on the property. This allows you to sell your house fast while filing for a Chapter 7, 11, or 13 bankruptcy. However, you must get permission from the court to sell your house.

    If you can demonstrate that you plan to sell your house for cash to pay off your mortgage or other debts, the court may permit you to sell your house. A local home buyer can work with you and the bankruptcy trustee to file a motion to sell the house with the bankruptcy court. Selling your house to an investor is much easier than trying to list it on the market and go through a realtor.

    Benefits of Selling Your House for Cash During Bankruptcy

    If you are like most people, you will probably plan to sell your house the traditional way. You contact a realtor, list your house on the market, make the necessary upgrades, show the house a few times, and finally find a buyer a few months later. If you’re lucky, you may find a buyer within a few weeks. However, there might be a smarter and easier way to sell your house fast. 

    Consider these comparisons below:

    You Don’t Wait to Sell Your House

    If you are in a hurry to sell your house, you do not have time to wait for an offer three to six months down the road. When you sell your house as-is for cash, you can close the deal in as little as seven days.

    We Simplify the Selling Process

    Selling your house on the market involves a long, drawn-out process that includes marketing, repairs, showing, and closing. We eliminate these steps and make it easier to sell your house without the hassle.

    You Save Money in Selling Costs

    Making repairs, paying realtor commissions, and paying closing costs can eat into your profits. Selling your house to Klamen Real Estate Group can save you thousands of dollars. Let us handle the closing costs and repairs.

    We Know the St. Louis Market

    Not even realtors know the real estate market as well as we do. Our professionals know the market, the people, and the property values in this area. We can make you a fair cash offer for your house.

    Sell Your House Fast Today with Klamen Real Estate Group

    Selling your house does not have to be complicated or a long, drawn-out process. Klamen Real Estate Group makes it possible to sell your house fast in St. Louis as-is for cash. To find out more about the benefits of a cash sale, call us today at 314-721-6800 and get a fast cash offer.

      Get Your Fair & Honest All-Cash Offer Today! No Obligations!


      Or Call Us Now At 314-721-6800

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      Can I Still Sell My House Fast If I Owe Back Taxes

      Can I Still Sell My House Fast If I Owe Back Taxes?

      If you owe back taxes on your house, you could lose the property to a tax sale or foreclosure. The government could seize the property and sell it to reclaim the taxes. Even if your house is paid for, you could still lose it simply because you haven’t paid your taxes. Even after you sell the house, you may still owe taxes to the government. 

      However, you may be able to get out of your taxes if you sell your house to a local home buyer in St. Louis, Missouri. A local buyer may be able to buy your house and assume payment of the taxes, allowing you to walk away free and clear. You can also avoid other expenses such as repairs, closing costs, or realtor commissions. This is a better option than a traditional sale. 

      Why Are Property Taxes Mandatory?

      If you own a home, you are required by Missouri law to pay property taxes. The city and state use taxes to fund various services such as parks, roads, libraries, or schools. How much tax you pay depends on your home’s current appraised value. Regardless of what your home is worth, the taxes are almost always too high.

      In many cases, a service provider on behalf of your home’s mortgage lender will collect property taxes as part of the monthly mortgage payment. They will pay the taxes on your behalf through an escrow account. If the taxes aren’t collected and paid through escrow, you must pay them on your own. If you do not pay the taxes, the past due amount turns into a lien on your house.

        Get Your Fair & Honest All-Cash Offer Today! No Obligations!


        Or Call Us Now At 314-721-6800

        What Are the Penalties for Not Paying Property Taxes?

        Missouri follows a step-by-step process that allows the taxing authority to sell your property and claim past due taxes. The process involves the following steps:

        Tax Lien Auction

        A county treasurer may sell the tax lien on your house at an auction or, in some cases, in a private sale. The winning bidder gets a tax certificate and becomes the lien’s owner. The county treasurer must mail you notice before the tax lien sale. It must also publish the notice of sale in a newspaper or online.

        Tax Lien Sale Redemption

        After the tax lien sale, you get at least one year to pay off all lien charges and interest. This is known as property redemption. After one year expires, the tax-lien purchaser can foreclose on your Missouri home by filing a lawsuit in court. As part of the foreclosure, the home will be sold to satisfy the debt. However, you can still redeem up until the court confirms the sale, which finalizes the foreclosure. 

        Tax Foreclosure

        The county treasurer may start a foreclosure against you in court. The court will enter a judgment and order the home sold at auction to satisfy the tax debt. After the court confirms the sale, the winning bidder gets a deed to the home. 

        The only way to stop the tax lien and/or foreclosure is to either pay the taxes and satisfy the debt or sell your house fast before the proceedings are complete.

        Can I Sell My House If I Owe Back Taxes?

        The answer is yes, you can sell your house even if you owe back taxes. A tax lien on your property, either by the IRS or another organization, should not keep you from being able to sell your house fast. It should help your situation. Liens do extend to the value of your property as well as your other financial holdings. So, when you have a lien on your house, how do you sell it? 

        First, you need to look at the amount of back taxes you owe versus your property’s value. This will determine whether selling the house will pay off the taxes in full. In many cases, the IRS will require that you factor in your owe taxes when estimating the profit you will make off the sale. If your house is worth more than the taxes and selling the property will pay off the full amount of the taxes, the sale of your house or property will most likely be possible.

        Sell Your House Today and Avoid a Tax Foreclosure

        Selling your house does not have to be complicated or a long, drawn-out process. Klamen Real Estate Group makes it possible to sell your house fast in St. Louis as-is for cash. To find out more about the benefits of a cash sale, call us today at 314-721-6800.

          Get Your Fair & Honest All-Cash Offer Today! No Obligations!


          Or Call Us Now At 314-721-6800

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          5 Reasons to Sell Your House Fast in St. Louis, MO

          5 Reasons to Sell Your House Fast in St. Louis, Missouri

          Selling a home today can be stressful. One of the main reasons for this is that it can take 60 to 90 days to sell a house on the market. That does not include the time you spend preparing to sell the house and closing the sale afterward. While some people can wait that long, you may be in a situation where you need to sell your house as-is in St. Louis, Missouri, so that you can move on.

          Whether you need to sell quickly for a new job, for financial reasons, or because of a personal circumstance, it is possible to sell your house quickly. If you are in a situation where you need to get out from underneath the property or a mortgage, you can sell your house directly to a buyer and close quickly. Below, we look at 5 reasons to sell your house fast in St. Louis and how you can unload your property in no time.

          Reason #1: A New Job

          So, you finally landed your dream job. However, there is just one problem: you have to relocate and start your new job right away. It puts you in a position where you need to sell your house right away to move forward in your new position. However, you do not have the time you need to get the house ready to sell. 

          Fortunately, you do not have to wait. You can work directly with a buyer to sell your house fast without putting it on the market or hiring a realtor. A cash sale eliminates all the complicated steps of a traditional sale, giving you the freedom to sell your house when you want. That way you can start your new job on time.

          Reason #2: Foreclosure or Bankruptcy

          Foreclosure and bankruptcy are on the rise. COVID-19 has caused many people to lose their jobs, putting them in danger of foreclosure or bankruptcy. The recent forbearance act has come to an end, making homeowners and renters more vulnerable to eviction. If you are facing foreclosure or bankruptcy, you may be looking for a way to avoid foreclosure.

          Since you do not have time to sell your house on the market, a smarter, faster alternative is to sell your house for cash. As long as the foreclosure or bankruptcy process is not complete, you still have time to unload your property and walk away with your credit intact. The buyer can either take over mortgage payments or put enough cash in your pocket to help you pay off the mortgage.

            Get Your Fair & Honest All-Cash Offer Today! No Obligations!


            Or Call Us Now At 314-721-6800

            Reason #3: Probate

            If you and your family are currently going through probate due to losing a loved one, you may be unsure how to pay off the loved one’s remaining debt and taxes. Furthermore, you have to figure out how to handle all assets and property. Unfortunately, you do not have the resources to pay the debts and taxes. So, you may need to sell your inherited house fast to raise money to pay off the debt.

            Instead of making repairs and upgrades to the house, you can sell your inherited property as-is for cash. When you sell the property to a buyer, you can seal the deal in as little as seven to 21 days. This method of selling your house gives you the cash you need to pay off your loved one’s remaining debts and close the probate case. 

            Reason #4: Damaged House

            Has a recent storm or flood damaged your house? If so, you may be looking at options for selling your house instead of making repairs. The problem is that your house may no longer be sellable due to structural damage that is both costly and unsafe. Competing with other sellers on the market can be an uphill battle.

            Fortunately, you don’t have to spend thousands of dollars making necessary repairs or upgrades to the house. It is possible to sell your damaged house as-is directly to the buyer. The buyer agrees to buy your house in its current condition regardless of the damage. You can simply walk away from the house with cash in your hand.

            Reason #5: Bad Tenants

            Do you have tenants that are not paying rent? Are you having difficulty evicting your tenants due to Missouri state laws? Even if you could get rid of your tenants, you may decide that it’s time to get out of the landlord business altogether. If so, the last thing you want to do is spend a lot of time and money going through a lengthy selling process. 

            When you work directly with a buyer, you can sell your rental house fast. Even if tenants still live in the house, you can still legally sell it to a buyer. The buyer, in turn, takes full responsibility for dealing with the tenants once you close the sale. You can simply sell your rental house as-is and move on.

            Sell Your House Fast in 3 Easy Steps

            Step 1: Contact Us

            Call us today and tell us about your property. We will schedule a quick walkthrough of your house. No need to renovate or prepare your home. We buy houses as-is.

            Step 2: Get A Cash Offer

            If we are interested in buying your property, we’ll make a fair, no-obligation cash offer. We make most offers within 24 to 48 hours. Our offers come in at just under the current value of your house.

            Step 3: We Pay Cash For Your House

            If you accept our offer, then schedule a closing date that is convenient for you. We pay all closing costs and put cash in your hands in as little as seven days after closing. Selling your house is easy!

            Contact Us to Sell Your House Today!

            If you are ready to sell your house fast, then now is the time. Klamen Real Estate Group can make an offer and put cash in your hands in as little as seven days. Call 314-721-6800 to get a fast cash offer today.

              Get Your Fair & Honest All-Cash Offer Today! No Obligations!


              Or Call Us Now At 314-721-6800

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              4 Reasons Your Missouri Home Isn’t Selling

              4 Reasons Your Missouri Home Isn’t Selling

              “Why isn’t my Missouri home selling?”

              That’s the question you keep asking yourself several months after you have listed your house on the market. Selling a house today requires a tremendous amount of hard work, financial commitment, and, most importantly, patience. Even if you hire a top-notch realtor and make the necessary home improvements, there are no guarantees that you will find a buyer.

              There are several reasons why your house isn’t selling: poor real estate market, too much competition, asking price, or location. Whatever the reason, you need to sell your house fast and can wait no longer. Below, we look at 6 reasons your Missouri home isn’t selling and what you can do to land a deal quickly.

              1. The Missouri Real Estate Market Is Not Ideal

              Many people view the Missouri real estate market as ‘bad’ or ‘good.’ However, it is possible not to sell a house in a good real estate market. Why? Because the market doesn’t agree with your particular property. The market could be going through a trend that your house doesn’t fit in. Or the market could be shifting to another part of town away from your house. 

              Regardless of the reason, you may need to make some adjustments to your house to meet the current market standards. The question is whether you can make those types of adjustments. Can you afford repairs? Should you lower the price? You may be in a situation that prevents you from making the upgrades or changes to the house.

              2. The House Needs Some Work

              The condition of the home you’re selling plays a large part in whether or not you get any offers. A real estate agent has trouble selling a home that is out of date, even in a strong market, because potential buyers don’t want to deal with issues such as

              • Having to do renovations
              • Paying more to restore a home
              • Hidden fees and issues that come up when renovating
              • Not moving in right away due to home improvements
              • Living in a construction zone as they make repairs

              A home that needs repairs or cosmetic updates becomes a project for potential buyers. While some house hunters are DIYers ready to take on the challenge, most will find it overwhelming. However, you may not have the money readily available to make the necessary repairs or upgrades.

                Get Your Fair & Honest All-Cash Offer Today! No Obligations!


                Or Call Us Now At 314-721-6800

                3. Legal Issues Are Preventing the Sale

                Legal issues can often put a stop to selling a house. For instance, you may be going through a divorce and can’t agree with your ex-spouse on if, how, or when to sell the house. If your family is going through probate, a legal dispute can derail any plans you have to move the property quickly. You may need to resolve these types of issues before selling the house.

                Other issues that can keep you from selling your house include bankruptcy or foreclosure. The bank may be trying to repossess the house before you can sell it. Plus, you are looking for a way to sell the house without hurting your credit or paying the remainder of the mortgage balance after the sale. 

                4. You Chose the Wrong Realtor

                Home sellers often choose a realtor based on a referral from a friend or coworker. Since they are not real estate experts, they may not know how to assess a realtor’s performance or use criteria to find the right candidate. Before you choose your realtor, did you ask the following questions?

                • What is the average number of days on the market for home sales in my area?
                • What is the average number of days for my agent’s most recent home sales?
                • How do my agent’s marketing materials compare to other houses for sale in my area?
                • How is my communication/relationship with my current agent?
                • Does my agent have experience selling in my price point and neighborhood?

                If you chose the wrong realtor, you might find that it’s taking much longer to sell your house than expected.

                You Can Still Sell Your House Fast in St. Louis, Missouri

                Regardless of your current situation or how long your house has been on the market, you can still your house fast in St. Louis, Missouri. How? Sell your house directly to a buyer in your area without hiring a realtor. Klamen Real Estate Group can buy your house as-is right now. You make no repairs, pay no closing costs, and pay no realtor commissions. How does a cash sale work?

                Step 1: Contact Us

                Call us today or fill out the form, and we will call you to discuss your home. We will schedule a quick walkthrough to assess your property. If our services meet your needs, we will make you a CASH offer within 24 to 48 hours. Do not worry about repairs or cleaning your property.

                Step 2: Receive your Cash Offer

                After a quick viewing of your house, we will make a cash offer. Our offers come in at just under the current market value of your property. There is no obligation to sell your house. You have nothing to lose and a more convenient sale of your house to gain. 

                Step 3: We Pay You Cash

                If you accept our offer, we schedule a close date that is convenient for you. In most cases, we can close in as little as seven days. No repairs or cleaning is necessary – simply walk away from your property with cash in hand.

                Sell My House Fast in Missouri

                Before you contact the realtor or list your house on the market, do not pass up the chance to sell your house as-is for cash. Klamen Real Estate Group is here to help you find the simplest solutions to get cash-in-hand quickly without wasting time and money on repairs and closing costs. We buy houses for cash in Missouri. To schedule a quick, no-obligation walkthrough with Klamen Real Estate Group, simply call 314-721-6800.

                  Get Your Fair & Honest All-Cash Offer Today! No Obligations!


                  Or Call Us Now At 314-721-6800

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