What is a short sale?
Is a short sale my only option?
Why not just let the bank take my home back? Why do I care?
I've heard short sales take a long time to sell.
These are some of the most common questions I get from home owners. They all are very good questions. I will attempt to answer these questions the best I can here now.
What is a short sale? A short sale is when a lender/bank is willing to accept an amount less than what is actually owed. Example: Lets say Sally owes the bank $200,000 for her beautiful home in Meridian. Do to a job loss, she no longer can afford the payments anymore. So she calls me to help her see what her options are. After careful analysis her best option is to sell the home. So she puts the home on the market to sell.
I the agent market her home aggressively and get immediate activity on her home. Joe the buyer comes in and says I'll buy your home for $150,000. So I the agent take the offer to Sally's lender and submit to the lender all the paperwork needed. I get the bank to agree to the offer of $150,000 and the home gets sold, Sally's credit has been saved so she can buy a home again in 2 years instead of 7 years or more if she would have let the home go back to the bank.
In this case, Sally didn't want to stay in the home. Instead, Sally needed to rent a home for much less of a monthly payment. Which I helped Sally find a wonderful rental home near where her old home in Meridian was. Sally no longer has a debt of $200,000. Now all the debt she has is a small balance on a credit card and a car payment and a new lower rent payment. Sally can now get on with her life. The pressure is gone and now Sally can sleep at night knowing this is now all behind her.
I have helped alot of Sally's and Fred's in the Treasure Valley. Let me help you today!
Call today 208-947-4659 and ask for Brad
Visit our website http://www.BoiseHomeHelpline.com and leave your contact information. You can also get a hold of me via email Bradley@Century21.com
Thanks
Brad Oliver
Century 21 1st Place Realty
Boise, Idaho 83709
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