Selling Your Home - Short Sale vs Foreclosure!

For most families, their home is their largest financial asset, and deciding to sell it is a big decision that involves a lot of preparation and work. When you're ready to sell it's important to have an experienced real estate professional handle the details involved in the successful sale of a home for top dollar.

As an experienced professional who has helped many Tampa residents sell their homes, I know how to handle every aspect of the sales process - from strategically marketing and showcasing your home to making sure everything's signed, sealed and delivered by the closing date. Providing you with comprehensive, high-quality listing service is my top priority. So when you decide to sell your home, please contact me and let's get started!

The following articles are a great place to start if you're looking for information about the sales process and the differents between a short sale vs a foreclosure.

The Basics of Marketing Your Home How to Set a List Price for Your Home
Get Your House Ready to Show Buyers Why Use a Realtor when Selling a Home

 

What is a Short Sale?

Short Sale: when a lender agrees to accept less than what a homeowner owes on a mortgage. In a short sale the home is listed by the owner and sold. For more information or if you do need to sell your home as a short sale, I am certified to sell Short Sale properties. I am a CDPE Realtor "Certified Depress Property Expert" and a CNE Realtor "Certified Negotation Expert. I list, sell and have SOLD many Short Sale Properties. If you need more information about selling your home as a short sale "Avoid the financial freefall that comes with a foreclosure" please contact me immediately.

 

What is a Short Sale Hardship?

Here are sample types of a hardship. Lenders will consider the following conditions, and they don't have to have happened personally to you. It could be a family member who supports you -- financially or emotionally or both -- or on whom you rely for support who has suffered a hardship such as:


•Unemployment
•Reduced income (furloughs, new job, partner's loss of job, pay cut)
•Illness or medical emergency
•Job transfer (voluntary or involuntary)
•Divorce, separation or marital difficulties
•Exotic mortgage terms (an adjustable-rate loan)
•Military service
•Death in the family
•Incarceration
•Increased expenses and excessive debt
•Unexpected repairs or home maintenance


 

What is a Foreclosure?

Foreclosure: when the homeowner stops making monthly mortgage payments and the bank takes legal action against the homeowner and the deed of the home returns to the lender. In a foreclosure, the deed is transferred to the bank in a legal action. A short sale provides the home owner the opportunity to put the home on the market at or near market value even if more than the market value is owed on the property. When the home is offered for sale, it must be advertised and marketed with verbiage such as short sale and all contracts must be approved by bank. This informs buyers that the seller cannot accept any offer without approval from the mortgage holder. Most of the time, the bank will wait until an offer have been received. The reason a bank will even consider a short sale is because oftentimes they will retain more of the money owed them as opposed to going through a costly foreclosure. The foreclosure procedure is expensive for banks as they include attorney fees, court fees, realtor fees, and tax expenses. Often it is simply more cost effective for them to accept the short sale. If you need to sell your home as a short sale, I am certified to sell Short Sale properties. I am a CDPE Realtor "Certified Depress Property Expert" and a CNE Realtor "Certified Negotation Expert. I List, Sell and have SOLD many Short Sale Properties. If you need more information about selling your home as a short sale "Avoid the financial freefall that comes with a foreclosure" please contact me immediately.