Selling a home always include some level of stress, regardless of the situation. In today’s turbulent real estate market, the terms “foreclosure” and “short sale” has made confusion the new reality. In fact, statistics show that 1 out of 5 homes are “upside-down” or in a negative equity situation, where the value of the home is lower than the amount owed. Many homeowners looking to sell a house are left wondering, “Should I sell now?”, “Can I do a short sale?” or “Should I walk away and go into foreclosure?” Now, more than ever, the trustworthiness, knowledge and negotiation skill level of the realtor is the key to navigating the real estate market successfully, whether you reside in DFW or elsewhere. Options to Foreclosure:
The Benefits of a Short Sale Many homeowners in a distressed financial situation feel helpless and uncertain of where to turn for credible advice and assistance. It is important to know that there are options. One of the most appealing options is a short sale. With a short sale, homeowners can be proactive in managing the impact to their credit, manage finances and protect future purchasing ability. These are just a few of the benefits of a short sale versus a foreclosure. Short Sale Experts At Oyezz, we take the stress away from selling a home, regardless of whether you are struggling to make mortgage payments, or in a negative equity situation. We have successfully completed more short sales since January 2010 than any other realtor in North Texas, resulting in favorable outcomes for our clients.
We pride ourselves on providing outstanding service and diligently protecting the interests of homeowners with our expert negotiation skills.
A short sale is a sale of real property in which the proceeds from reselling the property are lower than the balance of the mortgage. In a Short Sale the mortgage loan holders agree to release their encumbrance on the home and approve the sale price as a total pay off of the mortgage loan. In a well negotiated Short Sale the shortage is waived and the mortgage lender release homeowners from their obligations to pay off any shortfalls regarding the home loans.
A short sale is normally utilized as an option to foreclosure since it minimizes additional fees along with costs to both the financial institution and borrower.
When analyzing a foreclosure vs. short sale, a short sale will likely typically be a more desirable scenario for both the homeowner and lender/bank. It minimizes the loss for creditors and minimizes the negative consequences to the property owner.
Our service areas cities in the San Antonio area include: