Sell Yourself Short Or Not?

I get many questions pertaining to Short Sales.  Does it mean the bank gives a short amount of time to sell?  Who can short sale their home?  How do you short sale your home?  Who do you talk to in order to do a short sale?  These are just a few.  The short answer to all of these is call an expert--Jeannie Bauer.

Avoid A Foreclosed Home
 
According to RealtyTrac and National Association of Realtors, over 700,000 homes were foreclosed on in the last year that were never on the market.  Really?  Never even put it on the market? I was astounded when I read this.
So here's the short of it.  (Sorry, had to use the pun to add a bit of lightheartedness to a difficult subject)

First a seller should be honest with him/herself and recognize when they can no longer afford to keep the mortgage payments current.  Of course contact the mortgage company to see if a loan modification is feasible.  A real estate agent (Jeannie Bauer) can give helpful information about the steps to take.

If a loan modification will not work, the next step is a short sale which means a property is sold for less than the amount that is owed to the bank and the bank or mortgage company agrees to sell for that amount.

It is best to choose a qualified Realtor® to help you with this.  The most common designations are SFR-Short Sale and Foreclosure Resource Expert and CDPE- Certified Distressed Property Expert.  We have been trained extensively to handle short sales and/or foreclosures.

Don't Wait! Again I say Don't Wait!  Real estate agents are bound ethically to keep all your information confidential and represent you in the best way possible to help you avoid foreclosure. 

Seller Advantage:  The seller doesn't get the nasty "foreclosure" on their credit.  A short sale does show up on the seller's credit; however, purchase of another home can occur within two years whereas after foreclosure it could be up to 7 years to be able to buy another home.

Most lenders prefer a short sale because it is less costly to them.  It is better for the Seller than foreclosure so why wait?

If you or anyone you know has joined the many in this economy that may have lost a job, had a marital status change, or any hardship threatening the ownership of their home, please call Jeannie at 214-663-6951.  I can help you and I care about helping you so let me.      It's All About You.

Jeannie