short sale information
What exactly is a Short Sale?
A short sale can be defined as a sale of property yielding an amount less than what is due on the balance of the note. Typically, this is due to a financial hardship that is experienced by the homeowner. After negotiating with the lender, the homeowner will usually sell the property and hand over the proceeds of the sale to the bank. This may or may not satisfy the obligation of the note, based on how the deal is structured. Short sales are often a solution homeowners will evaluate prior to going into foreclosure. In many cases, short sales are cheaper and less arduous than the foreclosure process.
What are the Benefits of a Short Sale?
There are several benefits of a short sale. These are wide ranging, but can include:

  • Qualifying for relocation expenses.
  • Reduced impact on credit score (200-300 points less then with a foreclosure).
  • Possibility to sell your current home faster.
  • Remaining in your home during the short sale.
  • It is easier to qualify for a new home after a shortsale than it is after a foreclosure.
  • It is the best alternative to a bankruptcy or foreclosure in most cases.

Who pays commissions, fees, etc. ?
In most short sale closings, the bank and buyer of your home or the would be responsible for paying such fees. It is our job to negotiate zero out of pocket expenses for you, on your behalf.

Shortsale related questions to ask yourself?

  1. Did you know that a shortsale can be less harsh on your credit than a voluntary surrender or deed in lieu of foreclosure or a complete foreclosure?
  2. Did you know in some cases you may qualify up to $10,000.00 for moving expenses, if you qualify for a shortsale?
  3. Did you know that you don’t have to deal directly with the bank if you don’t have the time to do so?
  4. Did you know that in some cases while you are being evaluated by your bank for a Shortsale you don’t have to make your mortgage payments?
  5. Do you know what a HAFA Short sale is?

If your answer is YES to any of the following questions, please take a moment to fill out our Free Consultation Request Form:
1) The above questions have peaked your curiosity?
2) You are ready to move into a better, more amicable living situation?
3) You have had a sudden unexpected hardship?
4) You are struggling to make payments into a money pit property that is worth less than what you owe?
5) You have an incomplete renovation due to loss of job, income, illness, death in family or other?
6) You cannot afford to continue your mortgage payment for any reason?

We will be glad to contact you, answer all of your questions and supply a comprehensive report of your potential options at no cost to you.

We are committed to making sure we hold your best interest at heart through this difficult time.

CONSULTATION IS FREE

There are no costs or fees! In most short sales, the buyer of your home or the mortgage lender would be responsible for paying all the fees associated with the short sale. As the seller or home owner you are not held responsible for paying commission fees, escrow fees, title insurance fees, termite repair fees, lender fees, miscellaneous fees or any other fee.