Sellers

Thinking about selling your home?  Well then you likely fall into one of two categories:

1. You have enough equity in your home for a "traditional" sale
2. You are strongly considering a short sale

"Traditional" Sale

If you are one of the few considering a traditional sale - ie  you have equity in your home - I will get your home marketed ultra-aggressively.  It will show up on numerous websites including craigslist.  I will work with you to prepare the home and get it into tip-top shape for showings.  My HUGE database of buyers/investors will be notified about the home immediately.  I will assist you to get TOP DOLLAR in the SHORTEST POSSIBLE PERIOD OF TIME regardless of market conditions.

Short Sale

A short sale is very, very different from a traditional sale.  It is typically a much longer, more complicated process that requires approval from a third party.  I have provided a detailed description of all the aspects involved with a short sale here.  But what does one need to look at before deciding to execute a short sale?  Various alternatives are on the table including:

• Refinance the loan to a lower rate/lower payment
• Rent out the property
• Stay in property
• Foreclosure

1. Refinancing is pretty difficult - if you are too far underwater, you are out of luck unless you bring a bunch of cash to the table.
2. Renting out the property is easy - the problem arises when the rent in is significantly less than the mortgage out.  Unfortunately this scenario is all too common with homes purchased during the Real Estate bubble.
3. Staying in the property - not fun making a mortgage payment on a 300k house when your house is only worth 150k and dropping.
4. Foreclosure - huge impact to credit in the short run and extensive long term impacts including credit, mortgage eligibility and even employment eligibility.

All too often, the decision comes down to foreclosure VS short sale.  Please see the table below:

Typically, the financial impact upon executing a short sale is lower than that of a foreclosure.  Once again, there are various other considerations - hence legal and tax professionals should be consulted!

I have run across a great link that numerically suggests whether one should undertake a short sale or not.  Take a look:  http://www.myshortsalecalculator.com/

Assuming, however, that the short sale is the direction you have chosen to go - please refer to my page that highlights the short sale process in great detail.

"Information found on this website is for educational purposes only and is not intended to replace legal and/or tax advice.  For legal/tax advice related to short sales, we strongly recommend you consult the proper legal counsel as well as a licensed CPA prior to you making a short sale related decision."