Should you find yourself in a Short Sale situation here are a few things you should know before you start to move out.
Most Lenders would prefer that you stay in the home doing regular maintenance until the Short Sale goes through. Many Lenders will offer an incentive amount to you, the home owner, for keeping the home in broom clean condition. Don’t get mad at the Lender and think you will cause them grief by trying to remove bathroom fixtures such as toilets and plumbing fixtures. You will be happier with cash in hand and the new buyer can move in without a lot of out of pocket expense. And you won’t have a bunch of used home supplies that you can’t get rid of.
The better condition the home is in to sell, the more money it will go for and the Short Sale difference between what is owed and what the home sells for will be smaller, therefore you the homeowner will have a smaller hit on your income taxes the following year.
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