A Short Sale occurs when the balance owed on a home mortgage exceeds the market value of the property. This leaves sellers with the unfortunate choice of having to remain in a home that no longer fits them and they can no longer afford or attempting a short sale.
A Short Sale requires your short sale-experienced RealtyFox real estate agent to find a buyer to purchase your property at the market price as well as to negotiate with the lender. Negotiations are conducted to obtain approval to sell the property at the market price and for the lender to release their lien on the property.
A short sale offer can be of great benefit to your lender. A short sale allows the lender to possibly reduce their potential future loss on the property. How? If the lender were to foreclose on your property, they would endure extensive loss as the owner of the property. As the owner, the lender(bank) could have to make costly repairs and improvements, cover holding costs and then endure the costs of trying to re-sell the property. The price the lender would get from reselling the property would, most likely, be much less than they would have gotten from agreeing to a short sale.
Your RealtyFox agent assists in encouraging the lender to process the short sale quickly enough to keep a foreclosure off your credit. The buyer also benefits from a rapid negotiation and closing process by obtaining the best price possible for the property.
How You Benefit From a Short Sale
Once you have determined that a short sale is the right step for you and your family, you will want to consult with an experienced licensed Realtor at RealtyFox.com. Your real estate agent can eliminate countless headaches and road blocks for you and your family.
The agents at RealtyFox.com are fully committed to one goal; helping to get your short sale approved quickly.
As experienced agents, we actively work with short sales and can market them effectively to your lender. As an added perk, there are no closing costs to you, but you must act quickly. Your short sale must close by Dec. 31, 2013.
NO closing costs to you. Please fill out the form below to receive a confidential evaluation of your home’s availability for short sale. Or, text your information to 561-333-3300.