What is a short sale and see if you are qualified for one?

Short Sales process
A Short Sale is a sale of Real Estate that sells for less than the borrower(s) owes to the lender(s). In other words, if the borrower(s) has/have any hardship (i.e. lost job, got a less paying job, health issue, etc.) and cannot afford to pay the lender(s) anymore and want to sell the property but, the property is not worth what the borrower(s) owes to the lender(s) then the sale of this type of property is called a Short Sale.

A Short Sale is a privilege, not a Right. In order to do a Short Sale, borrower(s) must provide proof of economic or financial hardship (i.e., lost job, got a new less paying job, got sick and cannot work anymore, etc.) and lender(s) must agree to grant a Short Sale.

short sale

A Short Sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both borrower(s) and lender(s). If you are concerned that you may go into foreclosure because you are not qualified for any other alternatives that would let you keep the property, then consider doing a traditional Short Sale, where you can sell the property for less than you owe.

Also, in order to get a Short Sale approval, all lien holders (if there are two or more lien holders) must agree to the amount they will be receiving. It is possible for any lien holder to disapprove a Short Sale if they are not getting the amount they should be getting.

So, if you are feeling overwhelmed by the financial burden of owning a real estate or running behind your mortgage payments and wants to do a Short Sale then, please feel free to contact us as we will be more than happy to assist you in selling your property.

listing

For each short sale property we list, we will:

  • Prepare a free market analysis report and negotiate the list / sale price with the bank.
  • Market the property aggressively so that it reaches to every single buyer in the market.
  • List it on real estate websites such as Trulia, Zillow, Realtor.com, Craigslist etc.
  • Post a for sale sign in front of the home, if permitted by the seller.
  • Take all the phone calls and show the home to all prospective home buyers.
  • Arrange for other agents/brokers to show the home.
  • Check pre-qualifications / pre-approvals of all interested buyers.
  • Negotiate offer to purchase agreement.
  • Handle all the paperwork.
  • Meet with appraisers and inspectors.
  • Oversee the closing process to ensure a smooth transaction.

 

You will pay NO commission to us because your mortgage bank will pay our commission.

Your information will be kept confidential.

So, please don’t hesitate and contact us today and start working with one of the top real estate agencies in Massachusetts!

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