Florida Short Sale Advantages
Sellers look to short sales to prevent foreclosure, but lenders may also be turning to short sales as an alternative to the expense of a foreclosure. A short sale represents a loss to the lender, but in many cases, the loss is greater when the lender forecloses.
The foreclosure process is usually much more involved than the short sale. A short sale does not require involvement with the court system in most cases. Attorneys cost lenders money and when a lender evaluates the market value, the time to sell, court costs and attorney fees with the length of time to closing, a short sale may save them money.
Which one is right for you, a foreclosure or a short sale?
Buyers Benefit From Florida Short Sales
In most cases, owners take better care of short sale property. Foreclosures often drag out and people abandon their property for fear of eviction. They don’t want to wait for the sheriff to knock on the door, so they move on. It is possible the vacated property will fall into disrepair or become prey for vandals. As a result, buyers see property condition as one of the benefits of a short sale.
Lenders may sell foreclosures at auction houses. This may also limit the number of buyers interested in the property. An auction property is often sold ‘as is’ so a buyer must have the resources and guts to buy a property sight unseen. No inspections means increased risk for the buyer.
In a short sale, most property owners are trying to rectify their financial situation and get out of their mortgage. Since the seller still owns the property, they are more likely to stay in the home until the short sale closes. Occupied homes will show better than an abandoned home that has fallen into disrepair.
When Short Sale Facilitators negotiates a short sale, they try their best to get relocation money for the seller. This is an added incentive for the homeowner to stay in the home, knowing they will be given a date on which they must move. In addition, they may also receive relocation assistance. This is much better than waiting in fear of that eviction notice that may accompany a foreclosure.
Short Sale Qualifications
You must qualify for a short sale, however, and the lender must approve the short sale. Alma Korshak and her team at Short Sale Facilitators will help you find out if you qualify for the short sale of your home. They will provide you with a list of all the paperwork required and will negotiate with your lender on your behalf.
If you are struggling with a hardship or are struggling financially, the best option may be getting out of your mortgage obligation. If you know you cannot pay your mortgage, then be upfront with your lender and ask for options. Then turn to Short Sale Facilitators in Casselberry, Florida to negotiate your short sale.
Financial hardships take time to resolve. Why live in fear of a foreclosure when a short sale may be available? The best thing to do is ask the question – Is a short sale right for my family? Short Sale Faciliators will work hard to answer that question.
Short Sale Facilitators. The Power of Negotiating.