Selling because of foreclosure
A foreclosure is a lender process, not a switch. By the time the notices get alarming, there is usually still a window to sell on your own terms, and a sale you control is different from a sale the bank runs. Covent buys as-is for cash, pays the loan off at closing through the title company, and lets you walk away with whatever equity remains instead of losing it to an auction.
Falling behind does not mean the process has started. Federal rules give most homeowners a pre-foreclosure window before a servicer can file, and many states add their own notice periods on top. The pressure is usually psychological before it is legal: the letters get more alarming, fees compound, and the number feels impossible to catch up to. A sale in that window keeps things simple: no court coordination, no auction, no approving buyer.
In most cases yes, and it is often the best remaining option. A sale before an auction is a normal transaction: the title company pays the loan off at closing and any equity above the payoff goes to you. The earlier in the process you start, the more options you keep.
Yes. The arrears are handled at closing as part of the payoff, not by you catching up first. What we need is the address, the condition, and roughly what is owed.
No. We buy as-is. Condition affects the number, never whether we will look at the property.
We buy across every market we serve, on our own balance sheet and through a network of over 500,000 active, vetted investors.