Most buyers, sellers, and homeowners have heard of short sales—but you may not be familiar with what they really entail. In a nutshell, a short sale is when a homeowner sells their property for less than the amount owed on their mortgage. This happens because they are "short" of the cash they need to pay off their mortgage.
If you're trying to understand the ins and outs of a short sale, know that you don't have to navigate the process alone. I'd be happy to offer you a free consultation and answer any questions you might have.
What's the Difference Between a Short Sale and Foreclosure?
Selling Your Home Through a Short Sale
Less impact on your credit
You get to sell your home
$0 Seller Fees
Possible Relocation Assistance/Cash For Keys*
Selling Your Home Through Foreclosure
Very damaging to your credit
Lender repossesses your home
Long/drawn-out closing process
My Short Sale Services
Have questions about short sales? Contact me for a complimentary consultation! I'd be happy to help you understand what exactly a short sale entails and explain all of your options.
As Central Ohio's short sale expert, I know a thing or two about avoiding foreclosure and helping sellers navigate the process from start to finish. I have closed over 500 short sales. Best of all, every service I offer to short sellers is completely FREE.
Short Sale Tips
Short sales can help financially distressed homeowners preserve their credit score, pay off their mortgage, and avoid foreclosure. Before committing to a short sale, be sure to do your research and ensure that it's the best option for your needs!
Find a qualified agent
Short sales can be extremely overwhelming for an inexperienced seller. If you need a little help understanding the intricacies of a short sale, it's worth reaching out to a seasoned agent in the Central Ohio area. I would be happy to assist you with every step of the transaction, so feel free to give me a ring with any questions.
Get in touch with your lender
The first step to initiating a short sale is reaching out to your lender. While they aren't obligated to approve the sale, it tends to be an advantageous option for them because they can recover what you owe on your mortgage. Your lender will likely require many documents, such as a hardship letter, a personal financial statement, and other forms. They will also handle almost every detail of the selling process.
Consult with financial professionals
A short sale can be a fantastic solution if you can no longer afford to pay off your home loan. Before you begin the process, reach out to a financial advisor to evaluate your options. You may also want to consider bankruptcy, forbearance, or a loan modification to avoid foreclosure. A short sale may also benefit you if you're trying to increase your credit score or save on home sale fees.
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