A short sale may be your best option:
If you owe more than your home's value
If you are behind on your mortgage payments
If you were denied a modification on your loan
What is a short sale?
A short sale is the sale of a property for less than the amount owed by the home owner. Lenders accept this to avoid the highly expensive and lengthy procedure of a foreclosure.
Reasons to do a shortsale
A successful short sale will satisfy your debt and allow you to start over.
Avoid foreclosure and bankruptcy.
Many people are ready to buy again in 3 years time! In contrast, a foreclosure, deed-in-lieu, or bankruptcy will stay on your credit report for at least 7 years which can affect your ability to qualify for financing, including credit cards and auto loans.
A short sale will not be reported on your credit. Employers have the right to do credit checks and a short sale will not affect your employment options.
You have a second mortgage. Many second mortgages are not forgiven in a foreclosure.
You can stay in your home during the short sale process.
We will help you negotiate relocation funds
There are NO real estate fees for the homeowner.
Homeowner process
Consultation to determine if a short sale is right for you.
List your property for sale. There is no need for a sign in the yard.
Once an offer is accepted, the bank reviews the liens on the property. This process typically takes 3 to 6 months, although it can take longer.
The lender comes to a decision. If it’s a “Yes” the bank accepts the offer, you have 45 days to “close” -meaning the day you hand over ownership of the property. If the bank wants a higher selling price, they will counter offer and there is room for negotiation.
Closing. Congratulations! Look forward to a fresh start.
Get a FREE consultation
Short sales are complicated. The advice and guidance of a knowledgeable professional is invaluable.
If you'd like to determine if a short sale is right for you, contact us now for a FREE consultation at your convenience. We have helped many homeowners in your situation. Don't hesitate to reach out.
Let’s Talk.
