Avoid Foreclosure - Five Tips For Short Sale Success - Avoid Missouri Foreclosure
Two years ago and over 50 successfully closed short sales later, I see the market still saturated with foreclosures. 
What I don't understand is why more homeowners do not try to short sell their home instead of walking away and ruining their credit.
Here are five tips for short sale success.
1. When you know you are strugging to make your payments because of a death, illness, unemployment or excessive debt, don't wait to receive a foreclosure notice. Market your home as soon as possible. Waiting 2 -3 weeks before foreclosure is not long enough to get an offer and present it to the bank in order for them to complete their short sale process.
2. Pick a short sale team that is knowledgable in short sales. A Short Sale Specialist will be able to arrive at a price that will sell fast and be able to explain the reasons for their pricing. They will also have worked with many banks and know the timeline it will take to successfully close a short sale.
3. When listing your home, make available all the important documents that will need to be sent to the bank. If you have more than one lien, provide all the loan numbers to the Short Sale Specialist. Your Short Sale Specialist will be familiar with all the necessary document.s
4. Be prepared to move and close withing 30 days of short sale approval. Some loans require the homeowners to remain in the house until closing. Rent a storage unit or pack and store boxes in your garage to help speed your departure.
5. Remember, a foreclosure or bankruptcy will remain on your credit much longer than a short sale. If you have legal questions, consult your attorney. Missouri is a Non-judicial state and foreclosures take less time than Judicial states. Read more about Missouri foreclosure law.
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