Short Sale and Get Paid Tons of Cash

With over 4700 homes on the market and only 10-20% of those are selling, it’s no surprise many home owners are upside down on their home’s values and need to sell. Right now people requesting short sales are about 25% of the available homes. For a buyer it takes more time to close on a short sale home. However, they do often represent terrific deals. Here is a shocking fact: over 80% of home owners facing foreclosure do not even try to sell their home or other options and just let it foreclose. I find that to be very sad because they cannot buy another home after a foreclosure for at least 7 years. However if they do a short sale they can buy another home in as little as 2 years, get rid of a mountain debt (without recourse), and take advantage of these great prices and get in to a better home at a lower price in just 2 years. I’ve enclosed a brief Frequently Asked Questions about Short Sales for your review. If you know anyone who needs help with their upside down home, we are experts and would love to help them at no cost to them. The most amazing part is the banks are now PAYING people facing foreclosure as much as $30,000 to do a short sale. Wow! Have them call us to find out how they can get some relocation funds and get back to right side up! Barb 719 499 3334 Short Sale FAQ 1) Pros and Cons of a Short Sale a. Pros: i. You don’t have to pay taxes on the bank’s losses ii. If you pick the right agent, you don’t have to worry about the bank trying to collect on any unpaid debt into the future iii. No cost iv. You can buy another home in as little as 2 years v. Your bank may pay your as much as $20,000 to do a short sale! b. Cons: i. You have to wait 2 years to buy another home 2) Do other agents not want to sell a short sale to their buyers? a. If the price is right, it does not matter. b. A motivated buyer will wait an extra month to get a great deal 3) How much does it cost me? a. Zero, nada, nothing  4) Do I have to repair the home? a. No, you don’t have to worry about fixing up your home b. Short sales are sold “as-is” 5) How long will this take? a. 1 -3 months 6) What is the process of a short sale? a. You list your home at a great price b. You provide us with the documents we need to do a short sale i. (similar to info needed for a loan application c. We get a buyer d. We do the rest: i. Check in weekly with your lender ii. Negotiate the short pay off of your mortgages iii. Request your short sale letter be issued so you don’t have to pay them back for their losses into the future 7) Will I be held liable if something in the home is not working? a. No, just be honest about what you know on the condition of the home 8) Can I stay in the home while waiting for the short sale to be completed? a. Yes, right up until closing day 9) If the bank pays me, when will I be paid? a. At closing after you move out of the home. 10) Do I have to pay taxes on any unpaid debt? a. No, as long as you do a short sale before December 31, 2012. For a free, no-obligation consultation on your options: Please call Barb: 719 499 3334 Owner, Broker, Short Sale Expert