What is a short sale? And, how does a short sale benefit you in Atlanta GA?
This is one of the common questions all the home owners come up with. All the Atlanta GA home owners have tried enquiring about the short sale every now and then. It is very much important for all the Atlanta GA home owners to have a clear understanding of the short sale so that they have a clear idea about what kind of options they have during foreclosure.
The smart way of migrating foreclosure is also known as Short Sale. This is probably the best way to resolve the entire loan that has been taken up by a person for the home. When the flood of Atlanta GA hit the markets of Atlanta a couple of years back suddenly short sale became a very common thing. The reason why short sale became so much common is that the rates of houses dropped drastically. Right now not a lot of people are doing short sales since the rate of home value has gone up again. There are a lot of people who still use a short sale as selling options who are in a hurry to settle up the entire loan that they have taken up.
Why should you do a Short Sale?
The best thing about the Short sale is that you get a price much lower than the market price of the home and you will be able to get the best deal out of it. With help of short sale, you won’t have to take up any loan that you probably will not be able to afford and you will able to avoid a foreclosure very easily. The thing about foreclosure is that you will not be able to take up any loan up to 7 years and this may lead to a lot of financial problems. Your credit score will very much is affected by foreclosure and then even rent a home will become an issue for you if you want to rent with help of a home loan. The sad thing is you might end up getting fired for jobs by your employer because of your credit score. Foreclosure affects a person in such a way that it becomes difficult for him to buy a car or rent a home easily.
Basically, the main objective of a short sale is that relieves the debt that the property owner has and makes the property owner relieved from the debt. After short sale bot, the bank and the seller can settle the debt and go each other way. A short sale helps to get a great deal on places and helps people to own a home of their own without having to put a lot of pressure on their credit score.
Generally, a foreclosure takes up a lot of time and with foreclosure, a person is not being able to take up a mortgage up to 7 years. Short sale helps with all the flexibilities to the home sellers settling all kinds of debt with the bank. If you are buying a home with a loan you have more chances of getting approved with help of short loan than with a foreclosure. With a short sale, you will be able to buy a home very easily and also very fast. In case of home seller’s short sale will help them get rid of their debt with the bank and settle their credit score. If you are not happy with the lender or the bank you are involved with right now you will always have the option of finding a different bank to work with.
The best thing about a short sale is that there are generally no extra fees that are attached to the bank processing charges. The short sale is also beneficial to the bank because they are able to easily get rid of all the debt off their books. A lot of buyers might have a question that why do home owners sell their houses on short sale. The answer to that question is when a home owner sees that the debt that they have taken up for the house is more than the actual value of the house the home sellers end up taking a short sale.
Generally, the short sale becomes very common during the time when the rates of houses go down. If you are a home seller and you think that your house is not worth the value, you still owe to the bank or the money lenders then you should definitely opt for short sale because if you end up going for foreclosure then you will have to face more damages because the bank will charge you with more of extra charges for different reasons. Most of the realtors will end up charging you extra money for setting up your foreclosure but with a short sale, no such extra money will be required.
The first thing that home sellers need to provide for a short sale is a proof to the bank that you are will not be able to pay the debt anymore. Finding a proof is very much difficult and the only way this is possible is finding a good real estate attorney and letting him deal with it. If you have no idea about whom to contact and where to go you can contact us and we will help you guide you through the whole process of getting your hand off the property. We will be helping you by guiding you through the whole entire process you need to go through and we will also not be charging you for anything. At times we often buy the property from you so that you are able to get get rid of the property from your hands. All you need to do now is contact us and we will help you with the whole entire process of putting up your home for short sale and getting the property off your hands.
For more information check out www.SellUsYourHouseAtlanta.com