Is A Short Sale the Best Answer?
A Good Solution for Some Homeowners
A Good Solution for Some Homeowners
This option is best utilized where you have concluded that there isn’t a possibility of recovering from your current financial hardship and your home is worth significantly less than what you owe and even making a reduced monthly mortgage still has you under water leaving a foreclosure as the only alternative in sight.
In this situation, we don’t just list the home on the market at a below market value and hope to negotiate a low ball offer with the bank - the standard practice today where most short sales end up being foreclosed on anyway. We actually know investors who will contact the bank directly on the seller’s behalf and negotiate a cash purchase for the property (representing a best case solution for the seller) and as part of the transaction, include a “paid in full” settlement on the seller’s credit report. This is more than a 100% improvement on a person’s credit score than the alternative of having a “foreclosure” on their credit report. Unlike the average short sale which is a minimum of 6 months to a year process, this solution is averaging 96 days and we do not start the transaction process unless we believe we have a good chance of success. We represent the seller through the entire process to ensure their terms are met and the transaction is a smooth process that provides them an opportunity to get out of a no win situation, and if needed, moving expenses into a rental where your overhead is substantially reduced, offering sellers a chance to start afresh with minimal negative impact on their credit. There are no fees charged to the homeowner/seller for this service. The bank pays sales commission as in all short sale scenarios.
Contact us today to find out if this is a solution that could work for you or someone you know; or, just complete the information below, and we will contact you to discuss your options.