We have not seen the end of short sales in Southern Litchfield County
The only thing short about a short sale is the money going to pay off the lien holders. Short sales take time and expertise to close. For both buyer and seller it can be a difficult process, but it can be done. It takes time, patience and expertise.
Short sales made up 42% of all home sales in Connecticut’s first quarter 2013.
Short sales are on the rise here in Southern Litchfield County, no matter what the national news might say. Other parts of the country are finally getting some relief and housing markets are recovering. Here we are seeing a rapid rise in short sales.
Selling short, taking a team approach to short sales.
We take a team approach to selling your home if it is indeed a short sale. We will discuss your situation with you, we will put you in touch with a real estate attorney familiar with the short sale process, we will work together with you and the attorney to reach our objective, which is to sell your house “short” to the lender.
Is your house “under water”? Are you unable to make the payments? Have all loan modifications failed?
The sad fact is many home owners are finding it more and more difficult to pay the mortgage. There are many reason’s why, job loss, illness, divorce, ARM’s resetting to a higher interest rate. Whatever the reason, it is a hard, cold and sad fact. Add to this that a sale seems impossible as you now owe more than your house is worth, your house is what we refer to as “under water” or “upside down”. Sometimes the amount seems staggering and it probably feels like there is nothing that can be done.
There is something that can be done.
Many times an agreement to sell the house “short” can be reached with your lender(s). Simply put, you sell your house for less than what you owe, an agreement is reached with your lender to allow the sale to happen.
Although it can be put into simple terms, there is nothing simple about a short sale. Negotiating the short sale waters is difficult at best, and for the home owner who is already receiving notices in the mail, harassing phone calls to the house, this feels like an insurmountable task.
It is NOT, I repeat, not insurmountable. The first thing you need to do is give us a call at 860.946.0686. We will sit together and discuss your options, We will put you in touch with our legal team of short sale experts to help you determine if the short sale process is for you.
Short sales can and do work! It is often a better option that a foreclosure. You will have some control over what happens to you, your credit score will not take as big a hit as a foreclosure and often you can own a home again in 2-3 years.
Read more about Short Sales in Southern Litchfield County