I was recently asked "What is the most important thing for a home seller to remember when they are considering short selling their home?" As a reader of my blog, I thought you just might like to know the answer to this question as well.
It is important for the homeowner to remember that they cannot receive anything from the sale. They also cannot have any
cost associated with the sale to them. Most homeowners don't know that the bank pays all costs of sale and the short sale
is totally "as is", with no deficiency... in California at least!
Short selling will affect
their credit if they are forced by the bank or their situation forces
them to get behind on their payments. One of the most important ways to protect your credit when you go through the short sale process is to not miss any payments.
When a homeowner decides to put their home on the market as a short sale listing, it just might be one of the best decisions they make for their future. They can buy again in 3 years
after a short sale and sometimes sooner if they meet the requirements of
qualification for an FHA or VA loan(2 years).
Are you looking for short sale help? Would you like to know what your options really are? The Real Estate Doctor is in... call me now. Let's talk! 1-800-921-1900 ext. 2502
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