Foreclosure in Indianapolis

Why You Should Contact a Realtor

There are several good reasons to consult a real estate agent when you are facing foreclosure. Especially one you can trust.

The Sharks are circling

When the foreclosure process starts, you will start hearing from people who "want to help". This is because foreclosure is public information, and these "helpful" people mine that data for one reason only - personal profit.

Now, in and of itself, that isn't a terrible thing - I mean, we all work for money, right?

But the problem arises in that a person going through foreclosure is very vulnerable. Usually foreclosure is preceded by some other "major" event (job loss, illness, etc.) This means the foreclosure process is something that is "piled on top" of an already stressful situation. The people calling you know that, and may very well be looking to take advantage of you.

This is why it's better for YOU to reach out to someone to help. And a licensed  real estate agent who specializes in foreclosures and short sales is your best bet. Real estate agents are licensed by the state, and are held to a higher ethical standard than an "investor".

Contact me, and I'll lend an ear to your situation. We'll go over your options, and if I can help you, I certainly will.

Some things to look out for

Like I mentioned above, when the foreclosure process starts, you will start getting contacted. Here a few things to be wary of:

• Be wary of anyone offering you moving money now, and offering to split any profits.
• Watch out for "Door Knockers". There are people who come to your home out of the blue, offering their assistance. It's no coincidence they came - they are looking to buy your house on the cheap.
• Anyone who claims the mortgage company sent them or gave them your loan information. This information is public knowledge, and is for sale.
• Anyone offering you a cash solution.
• Anyone wanting you to sign something right away.
• Anyone charging a fee to assist you without proper state, city, or county licensing.
• "Investors" who claim they will save you a percentage on the sales fees.
• Investment companies that offer to purchase your home on a "short sale"; while this may be a viable strategy, you may suffer severe tax consequences, and be unknowingly deceiving the mortgage company as well (this is why using a licensed Realtor is so important.)
• Anyone who comes to your door with a pre-filled contract. In fact, let's just say watch out for anyone coming to your door, period. I know I already said that once, but it's worth repeating.
• Lastly, be wary of investment companies or groups, LLC's, foreclosure "specialists" or "counselors", people wanting to buy your home for cash, etc. These people will deal with you only if there is a big profit in it for them. Again, that's not a terrible thing, but there's a fine line between making a fair profit and taking advantage of someone.

Bottom Line. If you are going through foreclosure in Indiana, you are much better off dealing with a licensed Indianapolis real estate agent with education and experience in short sales.

More information about foreclosure and short sales:

Know Your Options - Knowing your options can better prepare you for making a good decision for yourself.

What is a short sale? - Short sales are the least understood aspect of the foreclosure process. Find out more about what a short sale is.