When working with people who are thinking about short selling their home, I am asked the following question quite often:
Will I have any issues renting a home after I short sale my home?
I am in Florida where there is a high number of short sales and I haven't had 1 client have an issue renting a property. Most of the time the new landlord doesn't have any issues as long as they have a deposit and have a way to pay the rent.
My advice when renting a home is to be upfront and honest about your situation. Explain why you did a short sale and why you can afford to pay your rent. For example - I had to short sale my home because I could not afford the high payment which was $500 more than the rent or I just relocated here for my new job and I was forced to short sell my previous home. I always tell my clients to give the landlord my information and have them call me if there are any concerns. I have received a call once and the person wanted to know how my clients mantained their home. I told him they had a great home and would be great tenants.
Feel free to contact me with any questions regarding short sales.
Steve Capen
Steve Capen & Associates - Keller Williams Realty
www.pinellascountyshortsales.com / www.stevecapen.com
727-348-2211 - cell #
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