What do you need to know about short sales? Today, I’ll go over some key information.
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Short sales occur when a homeowner can no longer sustain the debt incurred by their property and therefore decides to list it.
So, who wins with a short sale? Truthfully, everyone involved in a short sale will benefit.
By conducting a short sale, all of the debt would be forgiven subject to your satisfaction and approval from your lender.
Also, the buyer is able to purchase the property for approximately market value. They do not have to pay the amount you owe.
The lender also benefits from short sales because they no longer have to service a non-producing asset. Short sales are really a win-win situation.
If you are thinking of moving forward with a short sale, it’s important that you work with someone who has experience. A knowledgeable agent or a company with a professional division managing short sales are both great options.
On average, a short sale can be facilitated, approved, and closed in two to four months.
Also, if you have no other adverse credit issues, you can purchase your next home just three years after your short sale completion.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
So, who wins with a short sale? Truthfully, everyone involved in a short sale will benefit.
By conducting a short sale, all of the debt would be forgiven subject to your satisfaction and approval from your lender.
Also, the buyer is able to purchase the property for approximately market value. They do not have to pay the amount you owe.
Short sales are really a win-win situation
The lender also benefits from short sales because they no longer have to service a non-producing asset. Short sales are really a win-win situation.
If you are thinking of moving forward with a short sale, it’s important that you work with someone who has experience. A knowledgeable agent or a company with a professional division managing short sales are both great options.
On average, a short sale can be facilitated, approved, and closed in two to four months.
Also, if you have no other adverse credit issues, you can purchase your next home just three years after your short sale completion.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
