Short-Sales/Pre-Foreclosures are everywhere!! If you are a current home buyer in this market they are basically impossible to not come across. If you are a Seller struggling to sell your home in this market, I am sure short-sale has crossed your mind. Here is some information that may help you decide if buying a short-sale or selling your home as a short-sale is the best decision for you.

 

 

 

What is a Short-Sale?

A short-sale is anything but short!  The term actually refers to the current owners having to sell their home and being "short" the money they would need to pay off the full balance on the loan(s).  So in order to sell the owners of the home must, of course hire a Realtor, to negotiate with their lender(s) to sell the home for less than the balance owed.  Banks are very wiling to do this in order to avoid the costs associated with foreclosure and even offering full debt forgiveness for the sellers.  Sellers credit will definitely be hurt, but not as much as it would be if foreclosed on.  It is much easier to bounce back after a short-sale and possible buy a home again in the near future.  For buyers getting involved with a short-sale it is very important to make sure 1.) that you are working with a very good Realtor experienced in short-sales 2.) that you have patience!  this process can take easily 4 months to 1 year to close and might not even close at all. 3.) to be careful with what you sign, you must remember that it is not that easy to back out of a short-sale offer at anytime.    Buyers, with a little bit of patience and a great Realtor you can definitely get an unbelievable deal!!!

 

 

 

I do handle the Buying and Selling of Short-Sale properties... 

 

Sellers: Every short-sale I have taken on I have been able to close!!! I have said that if I cannot close your short-sale NO ONE can! 

 

Buyers: I will make sure that your offer is being presented to the bank in the way it should be and work very closely with with Listing Agent in order to get your short-sale closed in the fastest time possible.  Call me now for your list of short-sale homes in your area.