Short selling a property helps you get rid of it quickly so you can avoid further mortgage payments and move on to the next phase of your life. Use this guide to decide if you should start the process of finding a short sale real estate agent so you can find a buyer fast:
You Can No Longer Afford Your Mortgage Rates
If your adjustable-rate mortgage has suddenly expanded out of your financial reach, a short sale can help you get back on your feet. The real estate agent will work with you to sell your home for less money than you owe on your mortgage and the money from the sale goes directly to the lender. In many cases, the lender will forgive the difference that you owe. If the lender does not forgive the remaining amount, you must pay it.
Your House is Worth Less than Your Mortgage
Sometimes homeowners have no choice but to sell their homes. If you have to sell your home but it is currently valued less than the mortgage, a short sale might be your best option to avoid foreclosure. Talk to a real estate agent about your current situation and he or she will help you decide if the short sale option is the right one for you.
Your Financial Situation Has Changed
Whether you lost your job or are facing high medical costs after an accident, if you can no longer afford your monthly mortgage payments, short selling can help you avoid further financial peril. Find a reputable real estate company to help you sell the home before your financial situation gets any worse.
When you work with a real estate company in Atlanta when you need to short sell a property, you get a caseworker assigned specifically to your case. You can also work with a buyer’s agent, a closing coordinator, and the billing department to ensure that everything goes smoothly and you can sell the property as quickly as possible.