It’s come full circle, I’m loving short sales from a seller representative standpoint due to the fact that it helps get them out of a situation that could devastating to them financially. For a long time I’ve not enjoyed showing short sales to my buyers, simply due to the hassle. Having closed several this year, I’ve got a new look on short sales.
So Why Should A Seller Short Sale?
First of all, you need to know what a short sale is. GO here to read about what a short sale is .
So assuming you are a seller or home owner and have some sort of hardship and do not want to stay in your home, you can short sale. But what is the difference between just giving the home back to the bank (Foreclosure) and a short sale.
- Foreclosures Stay with you for 7 years
- A foreclosure on your credit report will cause you to pay significantly higher rates for your next home, but also cars, credit cards, even insurance.
- A foreclosure on your credit report will require you to put more money down on your next home, but also cars and some apartments.
- Once the notice is given, the home owner will only be so for 30 days (in Georgia) and could face eviction as soon as 30 days.
A short sale on the other hand,
- A short sale stays on your credit for only 2 years
- Does not devastate your credit score as much.
- Can allow the home owner to stay in the home for up to 6 months in some cases without a payment.
So if you or someone you know is in financial distress, please call me at 770-374-4667. If I cannot help you directly I can direct you to someone who can.
NOTE: Please consult with an attorney or accountant regarding your own financial matters.
Short sales are listed on the MLS, and you can search for all the homes in Georgia by going here.
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