Understanding SHORT SALE

How many times in the past year can you recall driving through a neighborhood and noticing overgrown weeds in the yards of homes that were once bright and well-maintained?  Now these homes reek of abandonment, leaving you with a bad taste in your mouth.  The surrounding neighbors are not pleased to have to stare at the homes that are bringing down the value of their properties.  These sightings are becoming increasingly common throughout our country today.  Why? Because people do not know they have OPTIONS.  

Typically, once someone receives a notice of foreclosure, panic sets in.  Saying " I cannot pay my mortgage, lets get out of here" or "I cannot afford my mortgage let's just stick around until the bank kicks us out"  are not the right answers!  After mortgage payments are delinquent, credit is already being effected, but it does NOT have to continue to get worse. A short sale is an agreement between the homeowner and their lender to sell their home for LESS than they owe.  

Here are some advantages of a short sale:

-You can qualify for a loan again in as quickly as two years after a short sale, as opposed to five years or more after a foreclosure.

-You will have more time to make plans to relocate and save money rather than with a deed in lieu, which typically requires you to leave your home within 30-60 days of signing.

-Your credit will take much less of a hit with a short sale, as opposed to a foreclosure, which stays on your credit report for at least ten years.

How to proceed with a short sale:

-Find a qualified REALTOR® experienced in short sales. They will help you through the paperwork and negotiations with the bank.  

-Gather the evidence to support your need for a short sale.  Lenders want to see hardship letters for consideration.

A short sale can be very time consuming, but well worth it to avoid foreclosure.  The process will be less bumpy if working with a qualified real estate professional.  Many people are unaware that this option even exists!  Please spread the word. Hopefully we can put this housing crisis behind us soon!


Call or text us today: 321-230-0828
E-mail: VinsonAndTanya@gmail.com

The decision to reduce your home price.

During these tough economic times, many home sellers are faced with the choice of either making a price reduction to keep up with the competition or sitting in their homes and waiting for an uninformed buyer to come along (doesn't happen often!).

It is important to stay up-to-date on the market in your area.  By keeping your home positioned in the appropriate price range you have a much higher chance of selling - quickly and easily!

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  6 Reasons to Reduce Your Home Price

  While you’d like to get the best price for your home, consider our six reasons to reduce your home price.
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