Your Offer for 27 Hollinfare Ct, Sugar Land, Tx 77479

Why bother?

• This offer avoids foreclosure and it will bring your loan current, which may help you in the long run.
• This offer can be closed fast. There is not a lot of time. Your foreclosure auction may be on the first Tuesday this coming month or next. There is not enough time to process a traditional closing and financing, which usually takes over 30 days.

What happens if you don’t do anything?

• Your lender will take your house to foreclosure.
• The auction is usually on the first Tuesday of every month.
• At the auction:
  • Your lender will bid the outstanding balance owed on the loan (including all the new fees for foreclosure).
  • An investor may bid as much as the following:
    • After Repair Value (let’s call this the “Zillow estimate”) – 10% for Closing fees (to sell the house) – any Rehab Cost – Holding Cost (taxes, utilities, interest, etc. during rehab) – Profit they expect to make
    • This is the number you see on Zillow minus about 25-40%.
    • Here is an example with numbers:
      • $400K (Zillow number) – $40K (for Closing cost) – $10-40K for Rehab – $2-6K (in Holding Cost for 1-3 months) – $50-80K (in Profit, let’s say the investor wants to make as much in profit as they spend on the project, if they spend ~$50K they want to make ~$50K, if they spend ~$80K they want to make ~$80K) (for perspective, the broker makes $12K (3%) without taking any of the investment risk).
        That would result in an offer of about $240-300K.
  • If an investor bids more than the lender at auction, you don’t automatically get a profit. First your lender gets paid. Then you will have to go through a time consuming process of getting any proceeds.
  • You may also come up short at the foreclosure auction and have a deficiency amount and still owe the bank.
  • You will have the foreclosure on your record for the next 7-10 years.
  • In short, nothing good can come from foreclosure.

What’s in it for you?

• Save your credit (Foreclosures stay for 7-10 years on your credit report and may limit you job prospects, limit your credit and your ability to buy a house in the future.)
• Relocate your family with dignity. You don’t want to postpone this until the deputies show up.

Where does this offer fit??

• Here is how you would maximize the value of your house (or minimize your loss).

1. You bring your loan current. This would be the ideal world scenario, but obviously your circumstances may not allow this.
2. You list and sell your house with a broker. In order to get the best offers you would repair and update your house before listing it. You may also need more than 30 days to sell it to get maximum value.
3. You list and get a cash offer with a broker. A cash offer does not require any loan approvals and usually closes faster.
4. This Subject-to Offer can be closed as late as the week before the foreclosure auction. Don’t wait that long. The longer you wait the less options and wiggle room you have.
5. Your house goes to foreclosure.

• If you can get any of these deals done, do so. Try to avoid foreclosure at all costs. Any of these scenarios are far far superior to foreclosure.

What’s in it for us?

• We take the risk and cost of taking your house over. Please note that closing costs are about 10% of the house value.
• After closing twice (we cover all closing cost of this offer, and then again when we sell, so a cost of about 20%) and repairs, we look to make profit.

Who am I?

• My name is Mike Erne.
• I live in Rosenberg, TX and I specialize and focus on the Houston area.
• I’m happy to meet with you to discuss your situation in person if you prefer this.

When do you need to act?

• Unfortunately, you need to act fast!
• Texas foreclosure law requires a minimum of 21 days’ notice. This does not leave a lot of time. You should call or text me as soon as possible if you think you would want to accept this offer.
• My number is 281-849-4847.

What do you need to accept the offer?

• You need to have a reinstatement letter with the required reinstatement amount (this states all your arrears and fees and fines your lender imposed on you).
• You will have to vacate the house before closing.

How can I help you?

• We can shield you from the foreclosure proceedings, and we can try to streamline things for you and your family.
• I understand that every situation is unique, so please please call me to discuss your circumstances and how I can be of further help to you.

What’s next?

• Call or text me at 281-849-4847.
• This is a lot of information.
• I would like to speak with you and see if we can create a situation that is more beneficial to you than to let your house go to foreclosure.