Are you behind on your mortgage? You upside down with your home, meaning you owe more than your home is worth? At GaRealtyGroup | 2ShortSaleGuys, we get calls all the time asking when is the best time to Short Sale. Our typical answer in the past has been, when you decide you have done all you can do.
Our answer today, when asked when is the best time to Short Sale is NOW. Why now a lot of people ask? Well lets start with the basics, it’s a sellers market. A sellers market is when there are more buyers than there are homes for sale. If your property is priced appropriately, you will have it under contract in a week or so. GaRealtyGroup has buyers that are sitting and waiting for homes to come on the market so that they can be the first to get their offer in. GaRealtyGroup is also taking the buyers criteria and going to homeowners that match that criteria asking them to sale their homes.
Secondly, short sale specific, the Mortgage Forgiveness Debt Relief Act is set to expire on December 31, 2013. This Act is a benefit to homeowners how are selling their home as a short sale or who have been foreclosed on. If you meet the criteria, the deficiency balance of the sale of your home can be forgiven. This Act was passed into law in 2007, it was set to expire in Janauary 2013, however, as part of the Fiscal Cliff bill that passed the first of the year, the Debt Relief Act was extended for another 12 months. We only hope that it’s extended again, however, there are no promises.
With that being said, GaRealtyGroup | 2ShortSaleGuys average time to list, market, recieve an offer, seek Short Sale approval from the mortgage lender and close the transaction is 121 days at this time. So NOW is the best time to short sale your home in North Georgia. We will work diligently with you to get your home sold and closed prior to the tax credit ending.
If you or someone that you know are in need of selling their home, please check out our Short Sale website by clicking HERE.
If you are in the market to buy a short sale or any other home, Terri is waiting on your call today. You can check out homes for sale by clicking HERE or call us today at 678-279-5977.
We look forward to serving you with your real estate needs.