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Short Sale Information

What is a Short Sale?

If you purchased or refinanced your home during the peak of the market, you may very well owe more on your mortgage than your home is worth. The bad news is that your options are limited: stay in the home until the market improves; go into foreclosure and destroy your credit for years to come; or negotiate a sale price based on the current market value with your lender in an effort to release you from your lien – in other words, a short sale.  The good news is that you came to the right place. Sheeran Consultants has successfully negotiated dozens of short sales for our clients, and we can certainly help you.

What are the benefits of a Short Sale?

The main benefit is that with lender approval, in the case of hardship, you are not obligated to repay a loan that is more than the value of your home. In many of our short sale transactions, we have convinced the mortgage holder to take the net proceeds of the sale as full satisfaction of your debt. Most of the time this will mean that you will bring no money to closing. Your bank simply takes the loss and you both move on. We do not charge an extra fee to handle short sales, it’s part of our standard buyer broker agreement and commission.

Should You Consider a Short Sale?

It may be your best option, but keep in mind that it can be time-consuming and complicated. We can ease the burden by  negotiating on your behalf with your bank to allow us to sell your home  at current market value (which may be less than you owe). Simply schedule a private consultation at 678-298-1619, and our short sale specialist will call you to discuss your specific situation. If it makes sense for you, we will handle the entire process for you.

 

from:Hirsh Real Estate Specialists

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