De-bunking Short Sale Myths

I called a gentleman yesterday as I heard his house was vacant. Turns out he is going through a short sale process on his home in Danvers but did not want to speak with me; he was already working with an attorney. I also mentioned I had a buyer for his property. But still, he couldn’t get off the phone fast enough. I’m not sure if he was embarrassed, caught off-guard  or his attorney told him not to speak to anyone regarding the matter. Here’s the thing, if you think you need to short sale your home, please keep an open mind. Here are a couple things you may want to know:

  • If you are working with a reputable short sale company there should be NO COST to you for services. That’s right, not even attorney’s fees. Some people pay an attorney a retainer! Its maddening-don’t do it and don’t waste your money.
  • Your real estate agent should only get paid if they successfully short sale your home. If your agent does not succeed they will not get paid or receive a commission.
  • The bank pays your real estate agent- not you!
  • The short sale process can be daunting at times and the process often fails when attorneys and realtors who don’t specialize in short sales attempt it. Each passing day the home owner becomes closer to foreclosure.
  • Foreclosure kills your credit, if you short sale your home you can purchase again in 2 years. With a foreclosure you need to wait years.
  • With owner occupied properties, we obtain relocation money for you (our sellers/clients) – funds PAID TO YOU at closing.
  • Last but not least, if you need to short sale, don’t leave your home. Stay in it!

Let us know how we can help.