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Short Sale Vs Foreclosure - a simple comparison

I've just posted a "simple" comparison between Short Sales and Foreclosures. This could be useful if you are talking to prospects or even clients who may be in circumstances that would involve a short sale or foreclsoure.

http://www.impactyoursalesnow.com/short-sale-info.html

I hope the homeowners you share this with will find it meaningful and useful because of the simplicity. For agents I hope this is another "give away" that you can use to help generate or convert leads into clients.

Jeff

www.ImpactYourSalesNow.com

Posted by Jeff Graves on 03/11/2009 02:49 PM

Comments (19)

Short Sales / Foreclosures in the Home Selling Channel

short sales, foreclosures, short sale comparision, short sale and foreclosure comparison

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19 Comments on Short Sale Vs Foreclosure - a simple comparison

MAR

Thank you Jeff. I found the chart to be simple and thorough in explaining the differences.

Jeff...This is great...I haven't seen anything like it...I've printed it out...simple and effective!!

Thanks for taking the time to post this...Very informative!

Thanks for the informative post-this should prove beneficial to many buyers.

I am pleased to see that you find the information useful - please feel free to copy it , put it into a marketing piece, blog it, etc. Aloha.

MAR

Thanks for the post. I will check out the link and print it.

Thanks for the post. I printed this and may use the information when I go on short sale listing appts.

MAR

Gita and Sean...thank you for the feedback and I hope it's useful for you.

Thanks Jeff,

I have it bookmarked.

MAR

Thank you that is excellent information.

Cindy

MAR

Judy and Cindy...great I'm glad you both found the information worthwhile. Be sure to share it (and the link) with others.

Mahalo.

APR

Thanks very much. I can see that the link provides really great information for clients who may have very specific questions.

Melissa - great! Let me know if you would like the Word doc to add it to your listing arsenal, post to your blog or website, etc. I just ask that you have my webaddress: www.ImpactYourSalesNow.com somewhere on the materials.

Mahalo.

APR

Jeff - This chart was very informative, and broken down well for us to understand. One question that I still am not sure about. I was once told that on a short sale, if the home is sold for less than the mortgaged amount owed, the seller would have to report that on their taxes as income. I have also heard that that has changed and is no longer the case. For example, the seller still owes $200,000 on the loan, but ends up short-selling the home for $150,000. Do you know if that $50,000 is now just forgiven, or do the sellers still need to declare that as income on their taxes?

Troy...I dont' know the answer to that question, I would recommend you check with a tax advisor.

APR

Hi, Jeff! Thanks for the information. It's simple and won't make people roll their eyes. : )

Seriously, it's easy to understand and the comparison helps the seller which one is more beneficial to them.

APR

Hey Jeff: Thanks for the link. Good information here.

Yolanda and Tom...I appreciate the comments and hope that it will be useful to you both in some way.

Jeff
www.ImpactYourSalesNow.com

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