The Wealth Curve

"Profits are Better than Wages"… Jim Rohn

What is a Real Estate Short Sale?

What is a Real Estate Short Sale?

With the housing market sinking and some experts saying it will get worse before it gets any better, many home owners are facing a difficult situation: they can no longer afford to keep their mortgage payments current, and cannot sell their home without having to bring cash to closing. This awkward situation ends up with the home owner losing their home to foreclosure.  There are alternatives to bankruptcy or foreclosure proceeding – one of them is called a “Short Sale“.

A Short Sale occurs when a homeowner owes more on their property than the property is actually worth, but their bank agrees to accept less than what is owed as Payment-in-Full in order to avoid the foreclosure process.  Short Sales provide an excellent, win-win solution for the distressed homeowner, as well as their bank.  The home owner avoids the devastating effects of a foreclosure on their record and the bank avoids the effort and expense of the foreclosure process.

If you decide to choose the Short Sale approach, you should have a reputable and experienced Short Sale Team by your side who understand and have experience in Short Sale transactions in order to assist you.  A good Short Sale Team will know what to do and who to talk to saving you both time and trouble.  The best part is you don’t have to pay for your agent!  The bank will cover the commission and most of the closing costs for the seller in a Short Sale Program.

There are very few Real Estate Agents who truly know how to successfully negotiate a Short Sale. Not all situations are good Short Sale opportunities.  A good team will know the difference between a good deal and a bad deal.  They can analyze the deal and develop an excellent plan of attack in assisting you through successfully completing the Short Sale.

For more information in the State of Georgia contact www.househuntatlanta.com

Please leave a comment, I would love to hear your thoughts!

See You on the beaches of the world!

Hank Jennings

www.5linx.net/savemoneytoday

www.househuntatlanta.com

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