Can I Sell My Oklahoma City House In Pre-Foreclosure?

Are you facing pre-foreclosure in Oklahoma City? Learn how to sell your house during this critical period and avoid the negative consequences of foreclosure with this comprehensive guide.
Can I Sell My Oklahoma City House In Pre-Foreclosure?

Picture this: you’re walking a tightrope, and the safety net below you is getting further and further away. That’s what it can feel like when you’re in pre-foreclosure. As a homeowner in Oklahoma City, you may be wondering if you can sell your house in pre-foreclosure. The good news is, just like a professional tightrope walker who knows how to regain balance, there is a way to navigate through this challenging situation. In this comprehensive guide, we’ll explore the concept of pre-foreclosure, its implications, and how you can sell your house in Oklahoma City during this critical period.

What Is Pre-Foreclosure?

Pre-foreclosure is a stage in the foreclosure process that occurs when a homeowner fails to make mortgage payments on time. Lenders usually initiate the foreclosure process after the homeowner misses three or more payments, but it can vary depending on the lender and the specific terms of the mortgage agreement.

The pre-foreclosure stage begins when the lender files a public notice of default with the county recorder’s office, informing the homeowner and the public that the borrower is in default on their mortgage. This notice can be a Notice of Default (NOD) or a lis pendens, depending on the state and its foreclosure laws.

At this point, the homeowner has a limited amount of time to either reinstate the mortgage by making up the missed payments, negotiate a loan modification or short sale with the lender, or sell the property to pay off the mortgage debt.

Can I Sell My House In Pre-Foreclosure In Oklahoma City?

Yes, you can sell your house in pre-foreclosure in Oklahoma City. In fact, selling your home during this stage can be a smart move, as it allows you to pay off your mortgage debt and avoid the negative consequences of foreclosure on your credit and financial future.

Selling a house in pre-foreclosure might feel like trying to navigate a maze blindfolded, but with the right guidance and support, it’s entirely possible. Here are the steps to take if you’re considering selling your Oklahoma City house in pre-foreclosure:

1. Communicate With Your Lender

The first step in selling your house in pre-foreclosure is to communicate with your lender. Remember, lenders are like master chess players: they’re always thinking several moves ahead. By communicating with your lender, you can work together to find a solution that benefits both parties.

Inform your lender that you intend to sell your house to pay off your mortgage debt. Lenders are usually willing to work with homeowners in this situation, as they’d prefer to avoid the lengthy and costly foreclosure process. They may even agree to postpone the foreclosure proceedings to give you more time to sell your home.

2. Determine Your Home’s Fair Market Value

Before listing your house for sale, it’s essential to determine its Fair Market Value (FMV). Think of this process as trying to find the perfect balance on a seesaw. You want to set a price that’s competitive and attractive to potential buyers, but you also need to ensure that you can cover your mortgage debt and any additional costs associated with the sale.

Hire a real estate agent or an appraiser to help you determine your home’s FMV. Keep in mind that the FMV of a home in pre-foreclosure might be lower than that of a similar property not facing foreclosure, as buyers may expect a discount due to the circumstances.

3. Prepare Your House For Sale

Once you have determined your home’s FMV, it’s time to prepare it for sale. Picture your house as a stage, and your goal is to set the scene for potential buyers. This step involves decluttering, making necessary repairs, and improving your home’s curb appeal.

While it may be tempting to cut corners and avoid spending money on improvements, remember that a well-presented house can attract more buyers and potentially result in a higher sale price. However, be mindful of your budget and prioritize the most impactful improvements.

4. Market Your House Effectively

Marketing your house is like casting a fishing net: the wider you cast, the more fish you’re likely to catch. To maximize your chances of finding a buyer, use multiple marketing channels, such as online listings, social media, print advertising, and open houses.

Hire a real estate agent experienced in selling homes in pre-foreclosure, as they can help you navigate the process and develop a targeted marketing strategy to reach potential buyers interested in purchasing distressed properties.

5. Be Prepared To Negotiate

Selling a house in pre-foreclosure is like playing a game of poker: it’s essential to know when to hold your cards and when to fold. Be prepared to negotiate with potential buyers, as they may try to capitalize on your situation and offer a lower price than your home’s FMV.

Work with your real estate agent to determine your negotiation strategy and bottom line. While you may need to be flexible with your asking price, ensure that you can still cover your mortgage debt and any additional costs associated with the sale.

6. Close The Sale

Once you have accepted an offer, it’s time to close the sale. Like reaching the finish line in a race, the closing process can be both exhilarating and exhausting.

Your real estate agent and an attorney can guide you through the closing process, which includes finalizing the purchase agreement, clearing any liens or title issues, and transferring the title to the new owner. Ensure that you have all the necessary documents and funds to complete the sale and pay off your mortgage debt.

By following these steps, you can successfully sell your house in pre-foreclosure in Oklahoma City and avoid the long-lasting consequences of foreclosure.


Selling your Oklahoma City house in pre-foreclosure may seem like an uphill battle, but with the right strategy and support, it’s entirely achievable. By taking the appropriate steps and working closely with a knowledgeable real estate agent, you can navigate through this challenging situation and move forward with a fresh start. If you’re facing pre-foreclosure and need assistance selling your house for cash, don’t hesitate to contact us for help.

Brett Cobb

Brett Cobb

Owner and Founder of Premier OKC Home Buyers. Professional cash home buyer and real estate agent in Oklahoma City.