Times have changed, and with them, the economy. Some would argue it has gotten worse. After managing to work through the tough economic times you may find that investing is something that will work for you. With a great plan you can be sure of seeing your investments grow to commendable heights. With the ups and downs of life there might come a time when your investment in real estate will not necessarily bare the fruits you had planned for and this is when you may need a short sales realtor.
What is a Short Sale Realtor?
A “Short Sale Realtor” can be a term that baffles many individuals who are not in the real estate industry. When one opts to sell a house there could be different aspects that lead to this, most of which can be brought down to financial difficulties. You can find that at the point one chooses to sell their house, the market price can prove to be low or probably even less than their current mortgage. If working with a short sales realtor, you probably have opted to sell the house for less than it is worth.
When facing foreclosure a house is not likely to yield a significant amount of cash to the real estate agent let alone yourself and having a good understanding of what to expect would prove wise. Getting approval from a lender should be a priority. The bank will also ask for some important documents from the seller during this process, ranging from bank statements, income tax returns and W2s, statements of your financial status, letters of hardship, etc.
What Will a Short Sale Do To My Credit?
The best part about using a short sales realtor is gaining their knowledge! They will help you realize that you are avoiding severely damaging your credit by not pursuing a full foreclosure. A real estate agent who has not had proper training in Short Sales will not be a benefit for you. Be sure to do your research and find the best agent! Through a short sale, the stigma that one would go through can prove to be less because you and your agent are in control of selling the house. The bank holding the mortgage normally gets an approval through the short sales realtor before any process takes place. This process can prove to take a relatively long period of time, but can end up being a great deal for you. Short sales are not advisable for buyers who wish to have property change hands very quickly.
The above article describes what a short sale is, and what a Short Sale Realtor can do you for you.
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