A short sale is a workout program that allows a borrower to sell the property, even if the proceeds are less than the loan payoff, due to low property value. When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.
The average home buyer will not be a good fit for a short sale purchase. It is a time consuming process, that at times can be frustrating, and a little maddening. If you have the patience and time, you can find a deal though. The word bank is indeed a four letter word, but it won't be the only one you'll end up using by the end of the process.
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My husband and I have worked with Scott for many years. He has always gone above and beyond in all our dealings with him. He helped us get a phenomenal price on the current house we're in now. I've worked with many realtors that have tried to push houses we aren't interested on us, but Scott takes the time to listen and ultimately doesn't pressure us into something we wouldn't want. He's very knowledgeable about the buying/selling process and we've learned a lot throughout the years. Just recently, we learned that by increasing the size of bedrooms in the house, we also need to increase the septic system capacity. I never would have known that if he hadn't explained it to us. I've recommended him to multiple friends of mine, and I would recommend him to anyone looking for a great Realtor.
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