How to Sell Your House Using a Short Sale

Today selling your home using a short sale has become common practice.  Why do a short sale?  If you owe more than your house is worth and more than you can net after paying real estate commissions to pay it off then you need a short sale.  Today the bitter reality is that you probably are going to have to sell your house for a lot less than you were thinking.  It is a buyers market and the buyers are picky and are shopping for the very best deals.... It doesn't matter what your home appraised for last year or what the tax card says... price is dictated by supply and demand...

If you are facing a potential foreclosure or know you can not afford to keep your house then a short sale may be the best solution for you.  In most cases a short sale will be better for you than just walking away and letting the bank foreclose.  Foreclosure can result in tax consequences and you will have a foreclosure on your credit.  While a short sale won't leave you totally unscathed most experts agree it is better than the alternative.  In some cases bankruptcy may be the best option for you BUT it wont really save your home but may by you some more time.  If you are in a difficult situation and trying to figure out what to do then call me or email me and I will be glad to help you understand the short sale process.  It is always a good idea to speak to your tax accountant and attorney to understand the implications of your actions before you do anything that you may later regret,

Good news for short sale sellers ... The federal government has rolled out new guidelines that many of the biggest lenders have signed on to implement.  They go into effect April 5th.  The guidelines essentially are going to make it simpler and more straight forward to the seller and to the potential buyer. For sellers the banks acceptance of the short sale will mean that the bank forgives you for the deficiency and agrees not to take any further collection action.  The lenders will give Buyers an answer in 10 days which means more people will consider a short sale when shopping for a home because they wont be waiting 3,4,5,6 months to find out if their offer is accepted. This has been a real frustration for buyers and also the sellers.

Please call me at 912-289-4990 or email me your questions at Soldin72hours@gmail.com