Selling a Short Sale Home
Michigan homeowners who are facing foreclosure have a very difficult set of decisions to make. Whether or not to foreclose, how to avoid foreclosure and what to do with an underwater mortgage are tough questions which are best answered with the help of distressed property experts.
“In order for the short sale to work out in the home seller’s favor, however, the transaction must be navigated carefully and with market savvy.”
The truth is, many homeowners who are facing foreclosure due to job loss, medical emergencies or drops in market value have more options than they are often aware of. In some cases, short selling a home may be a viable alternative to foreclosure – an alternative which can save homeowners from serious credit damage or crippling debt.
In order for the short sale to work out in the home seller’s favor, however, the transaction must be navigated carefully and with market savvy. Negotiation of finer terms, such as the seller’s responsibility for any remaining debt on the home, requires attention to detail and a firm understanding of short sale procedures.
Short sales are most successful for sellers when they’re handled by a real estate agent who specializes in these types of properties. If you are considering a short sale of your home, get the expert advice you need to make the sale a success.