New Market Opening in Real Estate: Short Sales!
Short Sale is an "arrangement" between the current owner of a home and the bank that lent them the money to buy their home to accept an offer for less than the total amount owed to pay off the home. The "deficiency" is the difference between the amount owed and what the bank collects at the short sale.
Most short sales arise when a seller owes more on their house than they can sell it for. The owner of the home then attempts to make an arrangement with their lender to sell the house for less than is owned. For it to be a Short Sale, someone must be getting "shorted." Either the seller, or the bank.
Despite popular belief, you DO NOT HAVE TO BE BEHIND ON YOUR MORTGAGE TO REQUEST A SHORT SALE. You just have to demonstrate that your house cannot be sold for what you owe.
Contact Keith Cook or Rachael Wilson at 360-647-1313. As Certified Distressed Property Experts they can help you avoid foreclosure, and potentially keep you in your home! Let us help prepare you for your future.
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