### What is foreclosure?

 

When a borrower has stopped making payments to a lender, foreclosure is the legal process in which a lender attempts to recover the balance of a loan from the borrower by forcing the sale of the asset (real estate) used as the collateral for the loan.

Foreclosure is the legal process where a lender recovers loan balance by selling the borrower’s property. Learn more about foreclosure.

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Foreclosure - Definition - OfferMarket

What is Foreclosure in real estate?

## Real Estate Valuation for Sellers

If you're wondering "what's my house worth?" or "how much can I sell my house for?", we are here to help.

 

## Real Estate Valuation for Buyers

If you want to buy a house buy you aren't sure how much it's worth, we are happy to provide you with a free real estate valuation estimate.

 


<iframe src="https://docs.google.com/forms/d/e/1FAIpQLSduHNHtER_O3QY82_-KQnibTm4lnKNz3Dyl23IV6_yvgfyJsA/viewform?embedded=true" width="640" height="1193" frameborder="0" marginheight="0" marginwidth="0">Loading…</iframe>

Receive a free real estate valuation for your house, or a house you are interested in buying.

Free Real Estate Valuation - OfferMarket

Free Real Estate Valuation

## What is a mortgagee clause?

 

A mortgagee clause typically is a provision included in a property insurance policy protecting the mortgagee (lender) from financial loss in the event mortgaged property is damaged -- physical or otherwise. Put another way, a mortgage clause is insurance coverage between the lender and property insurance company that protects the lender and their interest in the property. Most commonly this protects lenders downside when there is physical damage done to the property and it was not initially reflected in the valuation of the property. This clause is often added to homeowners insurance policy (and increases its costs for the homeowner) and is required by mortgage lender to be able to extend a mortgage loan. 

 

In other words, if the property suffers damage, the insurer agrees to financially compensate the mortgagee for their portion of the loss. This is a risk reducing mechanism that enables a vibrant and hyper active lending system which makes it easier for borrower to get a loan, for mortgage originators to function and underwrite such loans and for mortgage investors to repurchase packaged loans in the secondary markets. More on these mechanics below...

 

## Protection for the lender helps the lending system function

 

The main purpose of the clause is to provide protection to the mortgage lender so their returns on extending a loan for the property is protected in case of substantial damaged or even destroyed. This mechanism allows for shifting of risk from mortgage lender to the insurer, so in case of a cataclysmic event the financial burden is split, which allows for mortgage lenders to extend far more loans to the buyers, allowing more families to move into their homes and enjoy benefits of home ownership. Risk is an important consideration for lenders because thats a useful tool for quantifying their exposure to downside financial risk inherent to their business. Shifting this risk or distributing it between parties within the transaction is an important mechanism that allows creation of new, more sophisticated, and robust systems that allow more access to capital at cheaper rates, allowing everyone who are part of the system to thrive. 

 

Without this mechanism, mortgage lenders would need to be much more risk averse and tightening their lending standards. Which would impact buyers ability to purchase homes. Usually this would mean that buyers would have to put more money down to purchase a property, have higher credit scores, buyer lower valued properties, some areas would be underbanked due to higher perceived risk from the lender, or they would required co-guarantors or co-signers, overall making a loan issuance a much harder process for the borrower. 

 

## Protection of the clause doesn't just protect the original lender

 

The protection granted by the clause doesn't just protect the original mortgage lender. The clause includes [ISAOA]("https://www.offermarket.us/real-estate-glossary/isaoa-atima"), or "It's success and/or assigns" term, sometimes written as "successors and or assigns", which means that the insurance protection extends or grants continuing to any financial institution that may repurchase the mortgage loan from the original loan issuer. This is done because, given how the current mortgage loan industry is structured, most commonly, originator of the loan, the first company that issues doesn't hold it to maturity, for the whole 30 year or 15 year term. Instead they package many such loans together into whats called a vintage and sell them to investors that do hold them for 15 to 30 years in order to collect the coupon payments. 

 

These investors also want to be protected from potential damage to the property under home owners insurance for the duration of the loan, which is often substantial. If this extension under [ISAOA]("https://www.offermarket.us/real-estate-glossary/isaoa-atima") didn't exists, this secondary market would evaporate overnight, and originators (first issuer of the load would have to hold them until maturity), which would cascade into much stricter rules on original issuance due to much higher risk they would bear, ultimately making it significantly harder for buyers to get a loan. 

 

The protection of the clause often covers not only originator (original mortgage lender), mortgage investor (buyer of mortgage loan packages from the original lender) but also to any company that also works with already protected party. For example, if there are some subcontractor, rental equipment operators, or vendors working on the property and their equipment gets damaged while they are doing anything for the insured parties (home owner or their lender), the [ATIMA]("https://www.offermarket.us/real-estate-glossary/isaoa-atima") protection kicks in and covers them under the mortgagee clause, leaving the insurance on the hook instead of homeowner or the lender, making them a loss payee instead of the lender or homeowner.

 

Once again, this is done to further reduce risk for the lender so the whole lending system can continue issuing loans and make insurers deal with actual, often physical risks of home ownership, while lenders are only exposed to the risks carried by the personal profile of the homeowner, such as their personal ability to pay down the loan for its duration.


## How to add a mortgagee clause

 

If you are a [private lender](https://offermarket.us/real-estate-glossary/private-lender) providing a private loan to a real estate buyer (borrower), you can have the borrower contact their property insurer to add a mortgagee clause with you as the mortgagee. Almost all home insurance companies have experience with adding these clauses because any government backed mortgage loan must include such a clause to make it count as a standard loan that can be packaged or securitized into vintage which then can be resold in secondary markets for investors to hold until maturity. 

 

Here is a mortgagee clause for an OfferMarket single family rental property that is insured by [OfferMarket Insurance](https://www.offermarket.us/insurance):

 

OfferMarket Capital LLC ISAOA/ATIMA
627 S Hanover St
Baltimore, MD 21230

 

## [Introducing OfferMarket Capital](https://www.offermarket.us/loans)

 

Take your real estate investing to the next level with OfferMarket Capital. Access the most competitive and transparent rates on bridge loans (fix and flip) and 30 year fixed rate rental loans (purchase and refinance). 

 

## Concepts related to Mortgagee Clause

 

- [ISAOA/ATIMA](https://www.offermarket.us/real-estate-glossary/isaoa-atima)
- [Mortgage Loan Originator](https://www.offermarket.us/real-estate-glossary/mortgage-loan-originator)
- [Landlord Insurance](https://www.offermarket.us/real-estate-glossary/landlord-insurance)
- [DSCR Loan](https://www.offermarket.us/blog/dscr-loan)

A mortgagee clause is a provision included in a property insurance policy protecting the mortgagee (lender) from financial loss.

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Mortgagee Clause - Real Estate Glossary - OfferMarket

What is a Mortgagee Clause?

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket provides DSCR rental loans, bridge loans, hard money, fix and flip, slow flip, and ground up construction loans.

Private Lending | OfferMarket

Private Lending

How It Works: Our 3-Step Selling Process

Why Winston-Salem Homeowners Choose OfferMarket

Frequently Asked Questions

Ready to Sell Your Winston-Salem Home?

Looking to [sell my house fast in Winston Salem NC](https://www.offermarket.us/sell)? Winston-Salem homeowners today benefit from a surprisingly quick market. According to local data, about 74% of homes in Winston-Salem sold in May 2025 within 30 days. Redfin reports that the city’s houses receive roughly 2 offers on average and sell in about 27 days. Home values are also trending upward – the median Winston-Salem sale price was around $281K in April 2025, up 7.7% year-over-year. Forsyth County (where Winston-Salem is located) saw a median sold price of about $302K in May 2025\. All this means buyers are active, prices are solid, and many sellers are closing quickly. (In fact, Zillow notes Forsyth County homes go under contract in roughly 10 days on average.)

Despite these favorable conditions, traditional home sales can still drag on. Preparing a house for the MLS – with repairs, showings, agent interviews and so on – can add weeks or months. If you need to sell fast in Winston-Salem, whether due to a job move, an inheritance, or simply to avoid the hassle, you need a more direct strategy. OfferMarket provides a streamlined solution: a 3-step platform that lets you list *as-is* and connect immediately with pre-qualified local buyers. You skip the delays of agent listings and costly repairs, and you get multiple offers right away.

 

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[![Sell My House Fast - OfferMarket 3 Step Process](https://cms.offermarket.us/uploads/sell_my_house_fast_winston_salem_nc_51e6adbc73.jpg)](https://www.offermarket.us/sell)

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**OfferMarket is not a wholesaler. Wholesalers are not allowed to submit offers on our platform.**

| Location | Seller | Buyer |
| ----- | ----- | ----- |
| Winston Salem, NC | [Get offers](https://www.offermarket.us/sell?status=getoffers) | [Join buyers list](https://www.offermarket.us/listings?mapBounds=-85.95759772744175,-86.53918647255864,43.3289931577726,43.139221704143495&limit=25&) |
| Forsyth County | [Get offers](https://www.offermarket.us/sell?status=getoffers) | [Join buyers list](https://www.offermarket.us/listings?mapBounds=-85.95759772744175,-86.53918647255864,43.3289931577726,43.139221704143495&limit=25&) |
| 27103 | [Get offers](https://www.offermarket.us/sell?status=getoffers) | [Join buyers list](https://www.offermarket.us/listings?mapBounds=-85.96315752744182,-86.54474627255873,43.336540186624916,43.14679227288775&limit=25&) |
| 27105 | [Get offers](https://www.offermarket.us/sell?status=getoffers) | [Join buyers list](https://www.offermarket.us/listings?mapBounds=-86.02659762744372,-86.60818637256003,43.307233587076496,43.117394281822214&limit=25&) |
| 27106 | [Get offers](https://www.offermarket.us/sell?status=getoffers) | [Join buyers list](https://www.offermarket.us/listings?mapBounds=-86.02659762744372,-86.60818637256003,43.307233587076496,43.117394281822214&limit=25&) |

## How It Works: Our 3-Step Selling Process

 

### Step 1: Create Your Free Listing*

Getting started takes just a few minutes. Answer a handful of quick questions about your Winston-Salem property – things like the address, property type, condition, and your desired price. You’ll provide basic details (no lengthy paperwork) and submit photos or a brief description. This puts your home “on the market” instantly, off-MLS on OfferMarket’s platform. (You can list any ZIP code in Winston-Salem or Forsyth County – from 27101 downtown to 27127 in Lewisville. We welcome homes in every neighborhood, from Ardmore and Buena Vista to West Salem and Clemmons.) Best of all, listing is completely free and without obligation. If the offers don’t meet your needs, you never have to accept.

 

### Step 2: Connect with Local, Ready Buyers

Once your listing is live, OfferMarket blasts it to our network of vetted buyers – often cash investors and pre-approved homebuyers – who are actively searching in the Winston-Salem area. Because your listing is off-market and exclusive to OfferMarket, it immediately grabs attention. Buyers in our community know there are no agent commissions or listing fees, so they’re eager to make offers. You’ll start receiving inquiries and written offers within days, without holding open houses or running ads. (This speed is typical: many Winston-Salem sellers on OfferMarket see multiple offers pop up in 24–72 hours.) Our platform ensures that interested buyers reach out directly to you through secure messaging – no middlemen or agents involved.

 

### Step 3: Review Offers & Close on Your Timeline

When offers come in, you’re in control. Communicate directly with each buyer through the platform: ask questions, request details, even arrange a private showing if needed. Because there are usually several buyers competing for your home, you’re likely to get strong, competitive offers – not just a single lowball deal. You choose the one that fits your needs (price, timing, and terms). Once you accept an offer, you set the closing date. Our buyers are typically cash-ready or financed, so they can often close very quickly – in 10–21 days or on whatever schedule you prefer.

Importantly, you sell your home *as-is*. The buyer may do a standard inspection, but you will not be required to pay for repairs or do any prep work. The sale proceeds directly at closing – you get paid in full at settlement. There are no hidden fees or commissions to deduct from your check. It’s a fast, straightforward sale that fits your timeline. In practice, many Winston-Salem sellers go from listing to closing in weeks instead of the months a traditional sale takes, all while saving tens of thousands in fees.

*Figure: OfferMarket’s 3-step process lets you list your Winston-Salem home in minutes, get offers in days, and close on your timeline.*

 

## Why Winston-Salem Homeowners Choose OfferMarket

* **Sell As-Is (No Repairs):** Skip the stress and expense of fix-ups. On OfferMarket, you can list your home in *any condition* – even if it needs paint, a new roof, or a major renovation. Buyers on our platform are investors and homebuyers who expect to handle repairs themselves. This means you save time and money by selling right away without staging or cleaning.

* **Zero Commissions or Fees:** You keep 100% of your home’s value. OfferMarket never charges sellers anything – no listing fees, no realtor commissions, no closing costs for you. Our fee is paid by the buyer on closing. That means the full agreed price goes in your pocket, not into anyone else’s.

* **Direct Buyer Access:** We give you immediate entry to a pre-qualified buyers list. Instead of hoping a random caller from Zillow is serious, your listing is sent to local investors and buyers who are already approved and eager to buy in Winston-Salem. You’ll hear directly from serious prospects, often within days. This direct connection cuts out the red tape of agents and busywork of open houses.

* **Full Control & Transparency:** You call the shots. You set your asking price or reserve, and you review every offer. There’s no agent pushing you or hidden paperwork to slow you down. You negotiate directly with buyers on your own terms. Want to see buyer credentials or request an alternate price? It’s up to you. You can say *yes*, *no*, or *counter* – your choice. Throughout the process, you always have visibility and final say.

* **Quick, Flexible Closings:** Need cash in 2 weeks? Or prefer 30 days to move out? No problem. Our buyers (often cash buyers) can meet the schedule you need. Many OfferMarket sales close in as little as 10–21 days after offer acceptance. Even if your buyer does need financing, pre-approval is often arranged in advance, so closings happen fast. You *pick* the date, and we work to make it happen on time.

These benefits make OfferMarket especially popular in Winston-Salem. Whether you live in a downtown rowhouse, a suburban ranch in Clemmons, or an outlying Forsyth County community, you’ll experience the same convenience and savings. Local homeowners appreciate that they can move on quickly without cutting their price or adding hidden costs.

 

## Frequently Asked Questions

 

### Q: How quickly can I sell my Winston-Salem house through OfferMarket?

It can be very fast. Most sellers receive multiple offers within just a few days of listing. (We often see offers coming in within 24–72 hours.) Once you accept an offer, closings typically happen in 10–21 days, depending on your timeline. In short, you can often go from listing to cash in hand in a matter of weeks, instead of the months a traditional sale would take.

 

### Q: Are there any fees or commissions? 

No. Listing on OfferMarket is completely free for sellers. We charge no commissions or closing fees to you. Our small success fee is paid by the buyer at closing. That means if you sell for $250,000, you actually receive $250,000 at closing – there are no agent cuts or hidden charges taken out.

 

### Q: Do I have to make repairs or renovate first? 

No. You can sell your house as-is. Buyers on OfferMarket assume any needed repairs. Because they know the house is sold as-is, they’ll factor that into their offer. You save time and money by skipping fixes, cleaning, and staging. This is ideal for inherited homes, rentals, or homes with deferred maintenance – you can list immediately without any improvements.

 

### Q: Will I get a fair price for my house? 

Yes. When multiple buyers see your listing, they compete to make the best offer. OfferMarket is not a single cash-buyer making one lowball bid – you’ll have a few buyers each presenting offers. This competition tends to drive offers closer to fair market value. You’re under no obligation to accept an offer you don’t like; you choose the one that best meets your price and terms. Plus, with the local market in Winston-Salem strong, buyers know home values have been rising, so offers should reflect current market rates. If you’re unsure of your home’s value, you can compare offers against comps (recent local sales) to feel confident in the fairness of the price.

 

### Q: How do I start the process? 

It’s easy. Go to OfferMarket and click “Sell”, then create your listing by answering a short questionnaire. You’ll enter your property’s address, condition, and what price you’re hoping to get (or a minimum acceptable price). The whole setup takes just a few minutes. Once you hit submit, your home is live on our marketplace and immediately sent to buyers. After that, just watch your inbox for offers and decide which one to accept\!

 

### Q: What if I don’t like the offers I get? 

You are never obligated to accept an offer. You remain in full control. If initial offers are too low, you can wait for more or adjust your listing (for example, by slightly lowering your asking price). Many sellers receive multiple offers over a short period, so you can hold out until you see an offer you’re happy with.

 

### Q: What kinds of buyers will see my Winston-Salem listing? 

OfferMarket’s buyers include local cash buyers, real estate investors, rental property owners, and pre-approved homebuyers looking in Winston-Salem and Forsyth County. Some are professional flippers or landlords, others are buyers who want to own a home here. We vet our buyers in advance, so they have proven funds or financing. This means inquiries you get are from serious, ready-to-close buyers – not tire-kickers.

 

### Q: Do I have to do open houses or showings? 

No. Most communication happens online or by appointment. You can answer buyer questions and even invite one buyer at a time to see the house, if you want. There are no public open houses or real estate agents involved. Many buyers in our network will make an offer based just on photos and info.

 

## Ready to Sell Your Winston-Salem Home?

 

If you’re looking to sell your house fast in Winston-Salem, NC, OfferMarket makes it easy. Get started now by filling out our quick property questionnaire – it takes just a few minutes and is 100% free. No fees, no obligation, and no waiting for an uncertain sale. In just 3 simple steps, you’ll get real, competitive offers from local buyers and can choose the one that works best for you.

Don’t let your home sit on the market for months. Create your free OfferMarket listing today and see how fast and hassle-free selling can be. Keep your full sale price, avoid repairs, and move on your own timeline. It’s the modern way to sell “sell my house fast Winston Salem NC” – fast, simple, and fair.

Sell your Winston-Salem home fast, as-is. Get cash offers in days, skip repairs and agent fees, and close on your timeline with no pressure.

Sell My House Fast Winston Salem NC

* No fees, ever