The price of the home is not the determining factor in whether or not a seller may qualify for a short sale. The decline of the real estate market and economic conditions have combined in some parts of the country, that may mean that if you have a luxury home, you could qualifiy for a short sale.
Some homeowners who for example, were self employed OR were corporate executives who were down sized or had to take positions in other states, have found themselves with homes that they cannot sell for what they owe....AND due to their employment situation...cannot continue to make mortgage payments.
In some cases, we have noted....there IS equity in the home, the Seller is just not able to continue to make payments.
Whatever your distressed situation, contact an experienced and successful agent who has education and experience in both luxury homes and short sales. You are entrusting your financial future and working toward avoiding foreclosure....you need to be sure that the agent has the qualifications to accomplish this task. An agent who has sold higher end homes but does not have any experience with short sales, is not the best choice. Likewise, if an agent has had some experience in short sales but none in marketing higher end homes, may not have the expertise to get the home sold.
If you have a legitimate hardship and are unable to pay the mortgage on your luxury home, call the Hansons...if you are not in southeastern Wisconsin, we will refer you to a qualified agent in our nationwide network. Explore your alternatives with qualified professionals...the financial future you are saving is your own.
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