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When you are ready to sell your home, there are many fees associated with it. In addition to paying off liens for mortgages on the property, you have to pay real estate commissions, taxes, attorney fees and other miscellaneous stuff. These are the costs usually paid for by the seller, but in a short sale the lender pays these things.
Sometimes the lender will also pay for:
Back association fees
Past due sewer and water fees
Payments to other lien holders
Closing costs requested by the buyer
What's in it for the lender? It costs much more money to go through with the foreclosure proceedings and they risk having more damage done to the house when past homeowners are forced to move out.
Almost all of the time the short sale is free for the seller. Call us today to find out if a short sale is your best option - 508-523-8632. We will setup a confidential consultation with you explaining the process and what you need to do to get started. We're happy to help! Check out these 5 signs that you may need to do a short sale.