For some, selling a home is the best option to help relieve some of the financial burden in their lives. Many owners have realized this and have attempted to sell their home through traditional real estate methods, but due to market fluctuations many homes may not produce a high enough sale price to cover the remaining mortgage on the home. A Short Sale, if approved by the lender, allows the sale of a home at a price that is less than the total amount owed while reducing or eliminating the difference. It’s a compromise.
The lender is willing to take a discount on the mortgage for many reasons. First of all, banks do not like excess inventory and bad loans on their books. Thus, if they see an opportunity where they can sell the property without a huge loss, they will do it. Secondly, lenders know they could lose more money if the property goes to auction. There are so many fees involved in an auction that they would be better off taking the discount on a Short Sale and clearing the bad asset off their books. In some instances the bank may need more money for operating costs or liquidity requirements and selling the property quickly in return for a large discount may help meet their immediate need.
This option is a viable path for homeowners who are willing to part with their property in order to keep their credit rating from suffering additional negative marks.
As the homeowner, you pay nothing for our services – our fee is paid by either the bank or from the sales commission. We never charge any upfront fees or deposits to start your Short Sale. We are not real estate agents nor do we hold any real licenses related to the purchase or sale of real estate. We are experts in the Short Sale transaction process and we may be able to help you.
If you believe a Short Sale is right for you and do not have a real estate agent, we can refer you to one in our network who is experienced in Short Sales.
Download Short Sale Package
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If You Are You Facing Foreclosure
For some, selling a home is the best option to help relieve some of the financial burden in their lives. Many owners have realized this and have attempted to sell their home through traditional real estate methods, but due to market fluctuations many homes may not produce a high enough sale price to cover the remaining mortgage on the home. A Short Sale, if approved by the lender, allows the sale of a home at a price that is less than the total amount owed while reducing or eliminating the difference. It’s a compromise.
The lender is willing to take a discount on the mortgage for many reasons. First of all, banks do not like excess inventory and bad loans on their books. Thus, if they see an opportunity where they can sell the property without a huge loss, they will do it. Secondly, lenders know they could lose more money if the property goes to auction. There are so many fees involved in an auction that they would be better off taking the discount on a Short Sale and clearing the bad asset off their books. In some instances the bank may need more money for operating costs or liquidity requirements and selling the property quickly in return for a large discount may help meet their immediate need.
This option is a viable path for homeowners who are willing to part with their property in order to keep their credit rating from suffering additional negative marks.
As the homeowner, you pay nothing for our services – our fee is paid by either the bank or from the sales commission. We never charge any upfront fees or deposits to start your Short Sale. We are not real estate agents nor do we hold any real licenses related to the purchase or sale of real estate. We are experts in the Short Sale transaction process and we may be able to help you.
If you believe a Short Sale is right for you and do not have a real estate agent, we can refer you to one in our network who is experienced in Short Sales.
Download Short Sale Package