Short Sales – Why, How and Other Tips

By · Tuesday, April 29th, 2008

For sale signWhy consider a short-sale?  A short-sale can limit your future liability due to the fact that you cannot close on a short-sale without each lenders/investors’ approval. Once approved regardless if a 1st, 2nd or 3rd… you have a meeting of the minds and all parties will sign off to the discounts. Keep in mind a lender might request the borrower participate in the loss. We will do our best to mitigate or negate this from happening.

Mindset

 Position yourself for the future

Save your money – create reserves.

Options and solutions

Based on your goals and the end-result you desire, work your plan of attack.

You can:    

Pricing your home for sale Must be priced to sell at market- it will minimize your downside and not waster your time.

We must consider all variables – Comps, Withdrawn, Expired, and especially present and future competition.  The activity on your property will let you know if it is priced for sale. No/low activity means you must reduce the price immediately. The millions of dollars we spend on marketing are worthless when we are not priced for sale.   

Prudential Americana Group, REALTORS has opened a full service Short Sale Division. We are here to help you save time, money, to provide you piece of mind, and to insure your or your client’s needs are met.  If you have any questions, please feel free to contact Allison Wax or Jennifer Schneider in our Short Sale Division at (702) 318-4042.

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