Pinecrest Estates, Annandale, VA short sale expert and Associate Broker of Dan and Traci & Consultants with Keller Williams Realty talks about a short sale common question “Is a Short Sale the Right Decision?” A short sale is a type of real estate transaction that occurs when the home owner owns more to his lender/s than the current market value of the home. Although the home is sold by its owner, the purchase offer has to be approved by the bank or investor who holds the loan.
Short sales may not be the best option for every troubled homeowner. Sometimes a foreclosure might be a better answer. It is important for homeowners to understand the options and associated consequences. Homeowners should discuss the legal and financial implications with their lawyer and accountant. A professional Realtor familiar with short sales, foreclosures as well as other distressed alternatives can provide critical information. A distressed homeowner should weigh all options before deciding on a short sale in Pinecrest Estates, Annandale, VA.
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