A real estate short sale is when a lender agrees to allow a property to be sold for less than the amount owed on it. This relieves the homeowner of debt without the stigma and negative effect of foreclosure and it affords investors an opportunity to purchase property at lower than market value prices.
For Property Owners
Typically two conditions must be met before a lender is likely to approve a real estate short sale:
Market values are such that the property's sale price cannot cover the outstanding mortgage balance(s).
The owners are unable to continue making mortgage payments on the property.
Do you know the value of your home or the homes in your neighborhood? How much are you likely to get from the purchase of your home? Get a home value estimate that shows local property values and compares the size, age and construction type of your home with others that have recently sold in your area.
Once you decide that selling your home to avoid foreclosure is a viable option, you'll need to find a realtor to assist you. By using ApartmentStores Moving and Relocation, you can find a qualified real estate agent who can inform you on current market situations, pricing and selling strategies and assist you with inspection requirements, disclosure, contract forms and more.
With all that's on your mind about pending foreclosure proceedings, you may not have had time to look for alternate living arrangements. Use ApartmentStores Moving and Relocation to find apartments in your area.
While a real estate short sale is unfortunate, it's far better than having a foreclosure on your credit report. Use ApartmentStores Moving and Relocation to research short sale opportunities and other pre-foreclosure options before a foreclosure forces you out of your home and negatively affects your credit.
A real estate short sale can often represent an excellent buying opportunity for the real estate investor. Although there are extra considerations to ensure a successful closing, purchasing a home/property in a short sale can offer significant discounts to the novice or experienced investor.
Use ApartmentStores Moving and Relocation to find homes for sale in any city or town including listings of pre-foreclosure and foreclosed homes and properties in the United States and information to assist you with transfer and title reports. No matter what you are looking for, locating homes for sale is easy. Search thousands of real estate listings to find homes that fit your needs and specifications.
Before you make an offer on a short sale, make sure you have a real estate agent with experience in short sales. This will help to expedite your transaction and protect your interests. Use ApartmentStores Moving and Relocation to find qualified realtors to support your purchase.
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