A while back I wrote a blog about short sales and what a short sale actually is.  Short Sale 

I’d like to take a few minutes to elaborate on when a short sale is a good idea and why there isn’t any shame in admitting that you owe more on your home than it’s worth.  Financial distress isn’t something most people are comfortable talking about but there are solutions and a short sale could be a way out of distress.  Facing a short sale can arise from a number of different scenarios.  A person could be relocating and needs to sell their home, a divorce, lost job, and so on.  There is no benefit to the seller or the bank if the bank is forced for foreclose.  The sellers credit will be damaged for 5+ years making it impossible to buy and the bank will lose tens of thousands of dollars executing the foreclosure. 

Listen up!  Banks want to do short sales.  The problem is that most agents aren’t familiar with the process and even if they are familiar they don’t have the contacts needed to complete the transaction.  Settling a short sale is all about contacts at the lending institutions.  A good short sale agent should be able to get from contract to settlement in 4 months.  It’s not a short period of time, but it’s better than facing foreclosure.  The truth is that there is an end in site, but the buyer needs to be aware that the process takes time. 

Buyers can take advantage of reduced prices on short sales because like foreclosures they are “distressed” properties.  They may not be in bad condition, but because they will sell for less than market value they are considered to be “distressed.” 

A short sale specialist will collect the necessary information ahead of time, list the property, and have an open line of communication with the lending institution prior to any contracts.  This simple step will facilitate the process and save precious time.  If you’re looking for a short sale specialist in Adams County, PA or the Gettysburg Area please contact me.  A system has been put in place to save sellers credit and get them back onto a path toward financial stability.  It’s not an easy topic to discuss but I am here to walk you through the process from start to finish. 

I can be reached via cell phone at 717-319-3408 or by email at David.Monsour@gmail.com

 

Comments are closed.