UPDATE: Watch the following video to learn how to effectively short sell your home in NJ. Remember homeowners: This does not cost you anything. If you are in default of your mortgage, typically the bank pays everything INCLUDING but not limited to the realtor fee, closing costs, taxes, insurance, etc…
As short selling a home becomes increasingly popular, we would like to invite potential short sellers for a free consultation. As most of our clients are aware, we also have an office in Florida, where short sales have been pretty much the average transaction for the last 2 years. The owner of NJREG has negotiated over 60 short sales in Florida and 8 in Northern NJ. Florida is about 18 months ahead of the curve in short sales than New Jersey. Florida crashed first, and the banks looked to liquidate their non-performing mortgages first, where it was a crisis. As it become increasingly popular in NJ, we have been able to transition our short sale process that we have nearly perfected in FL and offer this service to our clients in NJ. There is very little difference in a short sale from state to state.
A Short Sale is the agreed upon sales price of your home for less than what your mortgage payoff is. The final agreement is made between the homeowner and the lender. The short sale process can be tedious, but with your assistance, we can offer enough assistance and negotiations to where we can make this as seamless as possible. It is important for us to know your status on your mortgage because being 1 month late or 12 months late makes a difference as to how we approach our strategy.
Many people believe that by not paying their mortgage they have 2 years to live FREE in their home. That is true, but prepare to face foreclosure. The sooner we nip this in the bud, the better the turnout will be and the sooner it will be that you can purchase your next home. Remember, a short sale dings your credit a little where you cannot buy a home for about 2 years. If you are foreclosed, you will not be able to buy a home for about 7 years.
Banks REQUIRE that short sale candidates use the services of a licensed realtor. The bank will require an executed listing agreement for your home to be marketed on the Multiple Listing Service (MLS). Without this, the bank will not negotiate.
If you would like additional information about short selling your home in New Jersey, please call Scott at 877-688-7582 or e-mail us here. Call Scott with New Jersey Real Estate Guys of Liberty Realty for a consultation and you will see that we are one of the best in the business. We have a streamline process down and know what the banks want to successfully negotiate your short sale. We will be happy to interview for the job of representing you. Give us a call. We are here to help.