Short Sale Details...

A Short Sale is a process... it is not a magic pill to solve the problem, and it takes time effort and commitment to succeed in closing a short sale, but it may be the best alternative for you.

Don’t believe the myths about “Short Sales”, thinking that you will not qualify.  There are exceptions that most home owners, even most real estate agents are not aware of, that could allow you to qualify for a “Short Sale”.  Know your options… don’t lose your home to foreclosure when you don’t have to!

1 – MYTH #1… Any agent can do a short sale.

True and False.  Any agent can claim that a home for sale is a short sale, but few know how to professionally manage the process through to a successful closing that benefits the home owner.

2 – Myth #2… Lenders will only agree to short sales with home owners who are going to be foreclosed.

False.  Lenders have exceptions… i.e. a home owner who has a new job in another location and cannot sell the home for the mortgage  I know because I have completed a short sale like this.

3 – MYTH #3… Owners who do short sales have to pay back the amount of money the lender lost in the short sale.

True and False.  This can happen, but in today’s environment, it is not common.  The lender is insured and our market is strong enough that most short sales do not occur below that insured level.

There are other myths and other pieces of information that you need to know to make an informed decision.  I just met with a seller who decided to keep the home if at all possible, another who decided to let it go to foreclosure, and another who is pursuing a short sale with us. 

Your situation is unique, and we will make certain that you have the information you need based on your situation. 

Thank your for your time and interest.

                                                                                          Stuart Sutton