Juan Carlos CarvajalinoGrand Realty of America, Corp19300 W. Dixie HwySuite 12North Miami Beach, FL33180Phone: 786-709-6620
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What is happening?
For many homeowners the new mortgage payment is simply too high for them to afford. Some homeowners are considering refinancing. Unfortunately they are discovering their home isn't worth what it was last year. At this point they have to explore other alternatives.What is a short sale ?
In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale.
A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history.
How do you benefit ?
If you are a Seller :
If you are a Buyer :
Make an offer on any short sale property (it's free!)
The buyer gets the home at a reduced price. Short sale listings are listed lower (some cases more than 50%) than similar properties.
Investing in short sales can be an excellent way to purchase property with “built-in” equity.
Short Sales offer buyers an opportunity to get a great deal in a buyers’ market.
Did you know?
Good communication is the cornerstone of any successful relationship. You can count on me to provide you with the information you need on a schedule and in a manner that suits you best...