- Data taken from MLS. Information deemed accurate but not guaranteed
Currently nearly 1/3 of all sales are short sales. The property is being sold for less than what is owed on the loan.
These transactions can be tricky but well worth it versus a foreclosure. For buyers you can find some really great deals if you are willing to wait for them. Typically these properties are still in pretty good shape, and you are helping out a homeowner who is trying to do the right thing and will be able to buy again soon – this helps support property values.
If you are considering buying one, it really pays to have an agent working for you who knows the ins and outs of short sales. They are a special area deserving special training.
For sellers, a short sale will help you regain your lifestyle much sooner than after suffering a foreclosure. We can help assess your situation and possibly even get you qualified to purchase another home even after short selling your current home. You will need to have a valid hardship to get your lender to approve the transaction.
Here at Unique Homes & Land we have the experience and current knowledge necessary to help you with your short sale. We have staff who have actually been trained by loss mitigation managers (the people who approve short sales at the lenders). It is important for you, and the community that the loan is resolved in such a way that you can be free to purchase again before the market is at it’s next peak.
