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What is a Short Sale?
The term "short sale" can be miss-leading in that the process can be anything but short.
When a home owner sells their home for less then they own on the mortgage, the bank has to approve the amount, because the funds they will receive will be "short" from what they owe on the loan (the pay-off amount).
A short sale can be a better alternative to a foreclosure, because you work with the bank to find a better solution to the situation.
The term "short sale" can be miss-leading in that the process can be anything but short.
When a home owner sells their home for less then they own on the mortgage, the bank has to approve the amount, because the funds they will receive will be "short" from what they owe on the loan (the pay-off amount).
A short sale can be a better alternative to a foreclosure, because you work with the bank to find a better solution to the situation.
At SYG Real Estate, we have done many short sales, with a variety of lenders, each with different situations and scenarios, and have created a streamlined approach to completing more successful short sale transactions.
We also use a network of cash-on-hand, ready to invest, buyers, who specialize in buying short sales. These real estate investors help us speed up the approval process when dealing with the short sale banks, because they generally want to approve transaction with the highest success rate.
We also use a network of cash-on-hand, ready to invest, buyers, who specialize in buying short sales. These real estate investors help us speed up the approval process when dealing with the short sale banks, because they generally want to approve transaction with the highest success rate.
Give us a call today, to find out all the benefits of working with your lender in a Short Sale, versus a Foreclosure or a Deed in Lieu.
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