short sales, sometimes the only solution.
Sometimes “it’s the only way to fly”. If you bought a home at the top of the real estate market in your area and now find yourself in need of selling your home, you may be a candidate for a short sale. The reasons for selling your home are as varied as the people who find themselves in this position. It could be a job transfer, loss of job, divorce, or God forbid, death (that would be someone elses death). It doesn’t really matter what the reason is, if you need to sell, and the mortgage balance is above the sales price, you have a “situation”.
The banks/lenders in our area, which I believe are typical of what’s happening around the nation, won’t begin serious talks with you unless you’re 2 months behind on your payments. This in and of itself creates some urgency and makes managing the process, that much more critical. I just came across an article in the March ’08 edition of RE/MAX Times which gives some excellent tips on how to deal with short sales written by Paul Pastore, a RE/MAX agent, in Chandler AZ. This article is written from the REALTOR’s perspective, but would also give the sellers some insite as to what they are dealing with.
Again… whether you need to sell or want to sell, listen to your REALTOR.
Happy selling
Wallace…
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I am so proud of you!!!!!!!!
You linked a web site to this article all by yourself and I was gone this weekend. I am SO PROUD of YOU!!!!
KELLY…