Atlanta, Georgia: Short Sales are all over the Media and you need to know what they are!

 As more and more people are finding themselves in a position where they just cant handle their mortgage payments, short sales are becoming an alternative to foreclosure.  As a seller, you need to fully understand how short sales work. You also need to understand that a short sale can sometimes take a little time, be patient.

There are two ways to go about a short sale, the right way and the wrong way.  You need to work with a professional who understands the right way. With more and more homes coming on the market in the Atlanta, Ga area, you don't have time to waste.

What exactly is a short sale?  It is where you owe more for your home than what your home could sale for in the current market. Today, we are experiencing prices that relate to the market as far back as 2003.  So, realistically your home is not going to sell for more than it would have back then.

Here is an example:  In today's market your home would only bring $300,000 (you come up with this price based on other sales in the area), but you owe $375,000 for it. Based on this information, you approach your lender about doing a short sale and accepting less for your home.  If the lender agrees, you have a short sale.  Getting them to say, "Ok", is only the beginning.

There are a lot of factors that come into play and need to be handled in the process of getting a short sale in the works.  Do you have mortgage insurance? They will need to approve the short sale.  Do you have a second mortgage on your home? This can really throw a wrench in your time line. Again, you MUST understand that a short sale can take time to work out.

Some people wonder why a lender would accept a short sale.  It is very common for the amount they can get for a short sale to be more than what a foreclosed property will bring.  It is in their best interest to get as much as they can for the property, and a short sale offers them another option.

We are currently doing successful short sales in the Atlanta, Georgia area, including: South Metro Atlanta, Clayton County, Henry County, and Fayette County.  We specialize in luxury home sales including: golf communities, lake communites and fly-in communities. If you need to consider a short sale, give us a call to discuss your options, 770-961-5520, ask for Brande (Brandy).

To learn more about short sales, you might want to subscribe to our blog and check back often as over the next couple of weeks, we will be breaking down the process. 

 Legal Disclaimer:  We are not attorneys.  You should contact an attorney to discuss your current situation and the best options for you.

Proudly Serving South Metro Atlanta for over 50 years!

The sale of your home is an important step towards your future. You deserve to have someone that is willing to work on your behalf, who is aggressive and will negotiate to make sure you're getting top dollar for your home. You should expect to be a priority, receive weekly updates and know your property is being marketed in a manner that can get a SOLD sign on it. Our market is changing daily; you deserve the knowledge and experience of a well-rooted company that can get your property SOLD.

Call today to sell your property or buy your next home in Atlanta Georgia, South Atlanta Georgia, Henry County, Jonesboro, Stockbridge, McDonough, Clayton County, Mallard's Landing, Heron Bay, Crystal Lake, Eagle's Brook, Eagle's Landing Country Club, Lake Spivey, Lake Spivey Country Club, Lake Jodeco, at 770-961-5520, Brande Bradford, Licensed Real Estate Professional.

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