At the Redding Short Sale Team, our short sale real estate agents know that you will have several questions about the short sale process, transaction and what to expect.
Below are the answers to some of the most frequently asked questions pertaining to short sales.
What is a Short Sale?
If you bought property during the height of the market, then you may owe more than what your home is worth. When this happens, it is often called being “underwater”.
Some options available to you are…
Staying in the home until the economy and local market improves.
Allowing the home to go into foreclosure.
Having a professional realtor negotiate a sales price for your home based upon the current market value with your lender, allowing yourself to be released from your debt, otherwise known as a Short Sale.
We can help you determine if a Short Sale is the best option for you and your situation.
The Redding Short Sale Team works with some of the top Short Sale Agents. We have successfully negotiated short sales for our clients, and we would love to help you.
What are the benefits of doing a short sale?
One of the main benefits is the lender will forgive the remaining balance on your loan, and accept the net proceeds of the sale as full satisfaction to your debt.
All realtor commissions and closing costs, escrow and title fees are paid for by the lender. There is never a cost to the homeowner in a short sale real estate transaction.
If you qualify for a HAFA short sale (ask us for details), your lender will pay you up to $3000 to assist with your moving expenses and relocation.
The impact on your credit will be less severe and not last as long than that of a foreclosure. With a short sale, you may be able to buy again in as little as two years.
We will negotiate with your lender to waive all future rights to sue you or pursue a judgment for their loss.© 2010-2013 Redding Short Sale Team All Rights Reserved -- Copyright notice by Blog Copyright
