Short Sale Highlights
A short sale is not always going to be the best solution, but many times it is. Some of the benefits to a short sale over foreclosure include:
- The homeowner avoids foreclosure and the credit damage that goes with it.
- The homeowner has more control over the timing of the transaction and their move from the property.
- The homeowner can receive financial relocation assistance from their lender. Our team has negotiated over $8,000,0000 in assistance for our clients.
- The homeowner is able to avoid the stigma attached to foreclosure. A short sale can be handled very discreetly. To anyone not directly involved in the transaction, it looks no different than a traditional sale.
- In California, the homeowner gets a full release from the lender and is not financially responsible to repay the loss the lender takes.
- The transaction can be completed at no cost to the homeowner. The sales costs, commissions, title, and escrow fees, are paid by the lender.
- The sale of the home is “As-Is”, which means the seller does not need to make any repairs to the property.
- It offers an amicable solution to a difficult problem. The homeowner wins by getting the home sold, getting the loan paid off, and having the ability to move forward without a foreclosure on their credit. The lender wins by saving the added expense of the foreclosure process.
If you are considering a short sale, please contact us today to learn more about your options and how we may be able to help.