What is a Short Sale in Real Estate?
Have you ever wonder what is a short sale in real estate? A short sale occurs when a property is sold at a discounted price. It happens when a homeowner is far behind in payments, so instead of starting a lengthy foreclosure process, he/she can sell the property. The lender usually agrees to a short sale because it helps prevent bankruptcy or a foreclosure auction. Simply put, a homeowner may approach the lender for a short sale request when he/she can’t make the payments.
Obtaining a short sale approval is a lengthy and complex process. There are certain limitations to approval, for example, one is ineligible for this option if he/she have received a foreclosure notice. Also, banks do not allow entry into a short sale transaction to those homeowners who own financial assets that could be sold to pay mortgage debts or who possess accrued home equity.
Why Do a Short Sale?
Homeowners look for different ways to prevent foreclosure. A real estate short sale is the best answer because it does exactly the same. Homeowners find the short sale quite relieving, knowing that it will help them avoid a foreclosure and save their credit.
Due to the discounted price of the property, short sales present a good opportunity for investors and buyers. Short sales benefit all parties involved. The homeowner that is relieved of the property that could have ruined their credit, and the buyer or the investor, obtaining a discounted property.
As opposed to a foreclosure, a short sale process takes less time, and it benefits the homeowner because it is not mentally draining and over-burdensome to him/her. The owner is usually relieved that he can get rid of a property he can no longer afford. On the other hand, the investor or buyer is overjoyed because he can instantly have equity as it was purchased for less price as compared to the market value.
JC Realty Group’s Short Sale Services
JC Realty Group is a leading short sale processing company that has helped a lot of property owners, lenders, and real estate professionals in the intricate business of closing and negotiating a short sale. Our mission is to help the homeowners, lenders, and real estate professionals avoid the costly and lengthy process of foreclosure and the distressing act of eviction.
Our experienced real estate agents can help you by:
- Protecting your credit from further degradation
- Negotiating favorable terms and presenting a solution to the lender
- Helping to minimize your debts
- Accelerating the process of short sale with a fast resolution
- Representing you as your real estate agent in the sale of your property
- Extending your foreclosure process
- Providing you with any consulting needs
- Responding your foreclosure complaints legally
- Closing the transactions without cost to the agent
- And much more!
JC Realty Group – What is a short sale in Real Estate
At JC Realty Group, we can help you identify the best possible solution and then negotiate with the lender on your behalf. As expert negotiators, we always settle a current market value sale and try to minimize your loss.
For contact information and more details about our short sale services at 877-531-1555 or click Here to fill out a quick form!