What is a Short Sale?
The simplest definition is when lenders agree to accept less than then the total amount (mortgage) due. A Short Sale is typically executed to prevent a home going into foreclosure.
In today’s market it is important that you align yourself with an agent that is familiar with Short Sales and Foreclosures. The current market conditions dictate that 40% of all Florida properties being sold are considered a “distressed property.” It takes a skilled real estate professional to guide you through the long and overwhelming process of a short sale. Not only do you need a real estate agent who is very competent in overall real estate sales and marketing but is also familiar with all the documents required to submit to the lender.
The Most IMPORTANT factor for a homeowner is to review all options available, and preferably, with legal counsel.
“At all costs, homeowners must ensure that they are not exploited or manipulated during this most vulnerable period of homeownership. Regrettably,the burgeoning short sale marketplace is attracting hordes of unscrupulous individuals who are seizing any and all opportunities to prey upon beleaguered and unsuspecting homeowners who are not aware of the range of options available to them when experiencing the growing challenge of “upside-down homeownership.”
There are other options available, make sure to ask you ask these questions when you are thinking about a possible short sale.
Search for Short Sales/Foreclosures
For More information:
Ingawilson@me.com
