Pre-Foreclosure Home Sales in Rockville, Frederick and Montgomery County, MD
Selling during pre-foreclosure can give you a chance to choose your next step on your own terms.
Real Estate Search and Sale, LLC helps homeowners with Pre-Foreclosure Home Sales in Rockville, Gaithersburg, Germantown, Silver Spring, Frederick and throughout Montgomery and Frederick Counties. Homeowners often reach us after searching "sell my house in pre-foreclosure," "can I sell my house before foreclosure" and "behind on mortgage, want to sell." We help you understand the real estate options, price the home and organize a sale that fits your timeline.
Carolyn Thompson, Broker, brings more than 20 years of experience. Her credentials for this work: Certified Distressed Property Expert (CDPE), Short Sales and Foreclosure Resource (SFR) and Certified Residential Specialist (CRS).
Call Our 24-Hour Desk: 202-630-5070
What Pre-Foreclosure Means
Pre-foreclosure is the period after a homeowner falls behind on mortgage payments and before a foreclosure sale takes place. During this time, the owner still holds title to the home and can usually still sell it. Many homeowners use this window to work with their lender on a plan to keep the home, such as a loan modification, repayment plan or forbearance. Others decide that selling is the right next step for their family.
The first mortgage is a lien and usually holds first priority. A sale that closes before the foreclosure sale pays off the liens from the sale proceeds at settlement, or, if the proceeds are not enough, the sale may proceed as a short sale with lender approval.
Options for Homeowners Facing Foreclosure
Before you decide to sell, we encourage you to learn about every option available to you. A HUD-approved housing counselor can often help at no cost, and a real estate attorney can explain your rights and deadlines. Options a homeowner may want to discuss include:
- Loan modification or repayment plan with the lender
- Forbearance for a temporary hardship
- Refinancing, if equity and income allow
- A traditional sale, if the home is worth more than what is owed
- A short sale, if the home is worth less than what is owed
- Deed in lieu of foreclosure
Our role is the real estate side: helping you understand what the home may sell for and what a sale would involve, so you can compare options with your professionals.
Maryland Foreclosure Mediation
Maryland offers a foreclosure mediation program for many owner-occupied homes. When a foreclosure case is filed, the paperwork a homeowner receives generally explains how to request mediation and the deadline to do so. Mediation gives the homeowner and the lender a structured meeting to discuss alternatives, which may include keeping the home or selling it. A HUD-approved housing counselor or attorney can explain whether mediation is available to you and how to prepare. Washington DC and Virginia have their own procedures, so homeowners there should ask a local attorney or counselor.
How Pre-Foreclosure Home Sales Work
1. Review your notices and timeline
Share any letters from your lender or the court with your attorney and housing counselor so you understand the dates that matter. We use that timeline to plan the listing.
2. Learn what your home may sell for
We give you a suggested price range based on recent sales of the homes closest to yours in location, style, size, age and condition, adjusted for condition. A comparative market analysis is a broker opinion of value, not an appraisal. You set the price.
3. Request payoff statements
With your authorization, we request payoff figures from your mortgage servicer and any other lienholders, including homeowners or condominium associations.
4. Decide between a traditional sale and a short sale
If the likely proceeds cover the payoffs and costs of sale, the sale can usually proceed as a traditional sale. If not, a short sale is a home sale where the net proceeds aren't enough to pay off the mortgage, so the lender must approve accepting less.
5. Prepare, list and market the home
We prepare the listing, arrange photography and schedule showings. Many pre-foreclosure homes sell as-is, and buyers decide what to offer.
6. Keep the lender informed
Once a contract is signed, the lender and your attorney should be told about the pending sale. For short sales, we submit the documents and follow up with lienholders. Negotiating with the lender is the seller's or the seller's representative's responsibility. Upon request, we will do a three-way call with you and your lender.
7. Settlement
The title company or settlement attorney pays off the liens from the proceeds, or according to the lender's short sale approval, and transfers title to the buyer.
Timing a Pre-Foreclosure Sale
The earlier you start, the more choices you usually have. Time allows for preparing the home, attracting a wider pool of buyers and completing lender review if a short sale is needed. We cannot promise that a sale will close before a scheduled foreclosure date, and only the lender and the court control that schedule. What we can do is move promptly, keep the file organized and communicate clearly with everyone involved.
Selling As-Is or Making Repairs
Some sellers in pre-foreclosure have the time and resources for small repairs, cleaning or staging. Others prefer to sell the home as-is. We walk through both paths with you, including how condition may affect the suggested price range and the types of buyers likely to be interested. If you choose to make repairs, we can provide contact information for independent service providers, and you are free to use any provider you like.
Respectful, Confidential Help
Falling behind on a mortgage can happen to anyone after a job change, illness, divorce or the loss of a family member. We treat every conversation with care and confidentiality. Most of our business comes from referrals, often from attorneys, housing counselors and past clients. If you have already moved away, remote closings for out-of-state and overseas sellers are a specialty, and we have closed sales for sellers living outside the country.
Communities We Serve
These are a sampling of the many communities Real Estate Search and Sale, LLC serves.
- Rockville MD: Rockville Town Square and Pike & Rose
- Gaithersburg MD: Downtown Crown and Bohrer Park
- Germantown MD: Black Hill Regional Park and the Germantown Town Center
- Silver Spring MD: Downtown Silver Spring and Sligo Creek Park
- Frederick MD: Carroll Creek Park and Baker Park
This is only a sampling; we serve many more communities throughout Maryland, Washington DC, Virginia, West Virginia and Florida.
Outside our service area? We can refer you to a local real estate professional.
Frequently Asked Questions
How do Pre-Foreclosure Home Sales work in Maryland?
A homeowner behind on payments can often sell before the foreclosure sale date, either as a standard sale if the home is worth more than the payoff or as a short sale with lender approval if it is not. Pre-Foreclosure Home Sales from Real Estate Search and Sale, LLC start with the payoff amount and a suggested price range so you can see the timeline and the likely outcome. We do not provide legal advice; a HUD-approved housing counselor and an attorney can explain your rights.
Can I sell my house during pre-foreclosure?
In most cases, yes. You still own the home until a foreclosure sale is completed, so you can usually list and sell it, with lender approval if the sale is a short sale.
What is the foreclosure process in Maryland?
Maryland requires lenders to send certain notices before a foreclosure case is filed, and many owner-occupants may request mediation. A real estate attorney or HUD-approved housing counselor can explain the steps and deadlines for your situation.
Can a sale close before the foreclosure date?
It may, depending on the timeline, the buyer and any lender approval needed. We move promptly, but the lender and the court control the foreclosure schedule, so keep your attorney informed.
Do I need lender approval to sell in pre-foreclosure?
If the sale proceeds will pay off your liens in full, you usually do not need approval to sell. If they will not, the sale is a short sale and needs approval from each affected lienholder.
Will my lender talk to my Realtor?
Most lenders require your written authorization before they will speak with your listing broker. We provide the form and submit it for you.
Where can I find a HUD-approved housing counselor?
HUD maintains a searchable list of approved counseling agencies, and many agencies help homeowners often at no cost. We can also share contact information for agencies near you.
Can I sell as-is in pre-foreclosure?
Yes. Many pre-foreclosure homes sell as-is, and we price them with a suggested range adjusted for condition.
Can I get references?
Yes. We provide a list of client and professional references on request.
Related Services
Call Our 24-Hour Desk: 202-630-5070
Request a Confidential Consultation
Help Locating Independent Service Providers
Homeowners in pre-foreclosure often look for real estate attorneys, HUD-approved housing counselors, CPAs, cleaners, handymen and movers. We can provide contact information for independent service providers, and you are free to use any provider you like. Providers should be properly licensed and insured. When you schedule your providers, we help coordinate the logistics around showings, access and settlement.
Real Estate Search and Sale, LLC does not endorse, guarantee or receive compensation from any service provider. Please interview and verify any provider you choose.
References Available on Request
We will gladly provide a list of client and professional references on request.
Talk With Us Confidentially
Call our 24-Hour Appointment Desk at 202-630-5070, any time, day or night.
Carolyn Thompson, Broker
CRS · ABR · SRES · SFR · CDPE · MRP · CDS
Real Estate Search and Sale, LLC
1300 Piccard Drive, Suite 204, Rockville, MD 20850
800 Park Drive, Blacksburg, VA 24060
24-Hour Appointment Desk: 202-630-5070 · Open 24 hours
Licensed in MD • DC • VA • WV • FL · Equal Housing Opportunity