Pinellas County Quick Sale Experts "Professional & Compassionate Guidance!"

Short Sales

When the fair market price for a home is less than the outstanding mortgages attached to the home, someone is going to get "shorted." That would be the lenders involved on the home loans. If you are planning to take advantage of the opportunities involved with "Short Sales," you have to understand the nature of the sale.

Most loans are either sold or backed by another entity. This might be a government entity like Fanny Mae or Freddie Mack, or it could be an investor. This complication is important because a home's lien cannot be released and the sale cannot be closed because the actual lender would be "shorted" of the amount they are still owed on the loan. Keep in mind that there may even be more than one loan and ALL of the entities holding notes on the property must agree to terms or the sale cannot go through. What that means to the buyer is that the negotiation process is much more complicated than simply negotiating with the homeowner. Once the buyer and the home owner agree to a price, presumably lower than the amount necessary to satisfy all lenders, negotiations must begin with the various lenders.

Home Owners:

If you are a seller and need help due to circumstances that cause you to not be able to make your house payments, call us. We can help. We work with an attorney and title servies to negotiate with your lenders at no cost to you and we get your home sold. Call me today at 727-459-5460 to get started. (PS: Until the end of 2012 the federal government is allowing short sales without tax consequences to seller's. Normally you would have a tax issue for the amount forgiven. It is treated as income to you. I'm not an attorney or tax professional, so make sure to discuss this with your attorney or tax professional.)

Home Buyers:

Buying a short sale isn't easy: it takes the kind of experience I have. If you don't know what you are doing you can get yourself, your money, and your credit tied up. Whether you are an investor, a first time home buyer or just ready for a change, contact us today at 727-459-5460 and get the training and experience you need saving you time and frustration.


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Please complete and submit the following Online Home Evaluation form. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential.

To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person.

   
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