What is a Short Sale?
In real estate, a short sale occurs when a house or property is sold for less than the total amount owed. This is a great option that a house owner may consider if they are under financial distress and behind in mortgage payments as a result. Short sales are a better option than foreclosures because it gives YOU an upper hand due to its low impact on credit scores and shows proactivity. Being proactive is crucial and helps in the long run! Once the lender has approved the short sale, the negotiating process begins.
Who Negotiates a Short Sale?
Once the negotiating process begins, you will need a short sale negotiator. Short sale negotiators are skilled professionals that fight for you. Think of them as short sale ninjas working nonstop to get the bank to approve the best offer. Great! But do you want an average short sale negotiator or an amazing one? Amazing short sale negotiators do the following:
- Remove debt
- Continuously stay on top of the bank
- Negotiate with prospective buyers
This is all done to present you the best offer. At Deals with Dignity, we ARE your amazing short sale negotiating ninja. Not only do we take the role of a Short sale negotiator, but we take it a step further and negotiate for you with your best interests in mind. Our goal is for you to make money on your sale.
Who is Buying?
Believe it or not, you do have a say in the buyers. A few good tips for choosing the best types of buyers are cash buyers (buyers that can pay cash), who are flexible to the needs of the seller, can close on time and are willing to provide you with enough time to move out after closing. Overall, the ideal buyer is one who can truly guide you through the process. Luckily, you do not need to search for a buyer! Deals with Dignity IS the buyer for you, because we buy houses for cash! We put together the right team to make everything happen, from negotiating to the final sale. Yes, you read that correctly. We’ve got you covered!
Value Dispute
Further negotiation may occur if the property’s value is disputed. What this basically means is that if the lender and short sale negotiator do not agree on a price, more action must be taken. This may include a thorough analysis conducted by the short sale negotiator. The short sale negotiator will then present their findings to the lender and request a counter-offer. The value dispute process is delicate and takes an expert to win over the lender with a satisfactory property value. Deals with Dignity has experts that will work hard for you in the value dispute stage of the short sale process.
Document Preparation for Short Sales:
In general, the documents required consist of presenting us with:
- State-Issued ID
- Bank Statements
- Tax Returns
- Proof of Income
When is the Best Time to do a Short Sale?
The best time to do a short sale is the moment you realize that you will not be able to catch up on your mortgage payments. Remember, as discussed earlier, there are many more benefits in doing a short sale than a foreclosure. We want you to have more control and a short sale is a perfect way to still have a say in your financial matters.
We’re Here for You!
Remember, if keeping up with your monthly payments have become difficult, consider a short-sale. It leaves you with more control than a foreclosure. The short sale process can be overwhelming if not handled by a professional like the ones at Deals with Dignity. If you are in a situation where you need to sell your home fast, the best opportunity is to find someone who doesn’t have to look for financing but can buy your home for cash. At Deals with Dignity, we will buy your house fast and guide you along the way. We treat each client with compassion and strive to facilitate the process of closing one door for another to be opened.
If you or anybody you know is inheriting a property and does not know where to start please have them contact me at Nathali@DealswithDignity.Com or at 305-697-8411.
Our services are 100% free to the community and we will walk by your side to help you find a way out. In any situation, however bad it may be, we will help you as much as we can with our guidance, but also financially, because we buy houses for cash.
