SHORT SALES...What the bank wants you to know.
Short Sales Happen
Lately, short sales have become a common occurrence within the real estate industry. Things happen and for one reason or another, some home owners are finding themselves in a situation where they MUST SELL their home, but they feel like they can't afford to.
Selling short, or SHORT SALES essentially mean that when the home is sold, there is not enough money to pay-off the lender (or lenders). Things can be worked out and everyone can move on with their lives if homeowners can follow a few important rules. If you find yourself in a short sale situation, please make note of the following tips:
•1. Communicate with your bank. Talk, Type and TRY!
•2. Work with a Realtor and List your home for sale.
•3. Cooperate with the lender. After all, you will be asking them to accept less than they are legally entitled to - for your home to close.
•4. STAY PUT. Please stay in your home and maintain it. Keep the utilities on, the lawns mowed, the grounds clean and the home occupied!
•5. Hang in there. These sales are anything but short to close. Actually, they might be better defined as "long sales".
•6. Know your not alone and don't go it alone. You will get through this as long as you keep saying: Short Sales Happen
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