Selling your home via a short sale can be a viable option if you are a homeowner facing foreclosure. The process of a short sale can be a bit challenging and frustrating without the proper guidance. For the best results, you should work with Real Estate agent that can guide you successfully through the selling process. Navigating a short sale is complex in nature however; the Seller’s benefits outweigh the complexity.
Why Short Sale?
When you fall behind on your mortgage payments, or the value of your home is less than the balance owed, a short sale may be an option. With a short sale, you sell your property for a reasonable discounted price acceptable to your lender. Once the sale is complete, the lender will remove the existing mortgage. It is up to the lender to accept any short sale offers on your home, so just because you list your home as a short sale, does not mean it will be accepted. You as a Seller’s of a short sale must financially qualify based on your lenders requirements for the short sale. Plus the negative remarks of a short sale are less harming to your credit score than a foreclosure and you can buy a new home after just 3 years from the short sale date (with the exception you no longer are suffering a hardship).
In order to be considered for a short sale, you need to demonstrate financial hardship by providing appropriate financial documentation to your lender. In addition, the value of the home must be less than the amount owed, the property is listed with a licensed Realtor and you have a valid sales contract to purchase.
Once you decide to pursue a short sale, you will have to sign a written authorization so that I can contact your lender on your behalf. I have worked with many lenders and already have their short sale packet, available. In addition, you need to sign a listing agreement so that your house is up for sale on the market immediately, at or just below fair market value. I use the highest level discretion towards the sellers I work with when listing their homes. As such, I only indicate the property is a short sale in private remarks seen only by other real estate agents. Your personal reason for needing to pursue a short sale is never disclosed to anyone other than your lender.
Ready To Sell?
If you think you qualify to sell your home via short sale, contact Stephanie Leon who is a Certified Short Sales/Reo Specialist. As a short sale specialist, I can verify whether you would indeed make a good candidate for a short sale or if I need to advise you on other options. Best part, my services are FREE to Homeowners. Don't hesitate to contact me for a confidential inquiry today!
Disclosure: Stephanie Leon with Avanti Way Realty is not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you may lose your home and damage your credit rating.