Sept. 14, 2012
Question & Answers for Short Sales
My property is in rough shape and needs a lot of work; can I still do a Short Sale on my property?Absolutely. We can sell any property for any amount that matches the property's condition. In fact most lenders are even more motivated to do a Short Sale on a property that needs work than on a property that doesn't. The lender does not want to do repairs if they foreclose on the property and they know the risk of loss associated with this process.
Normally a property that needs a lot of work is more likely to be sold as a distressed property. .where the lender and the buyer agree to a determined price based on condition.
How is that benefit you as a seller?
There is no expense from your part doing a short sale.
You are in a hardship and all the cost associated with a short sale is paid by the lender giving the third part authorization
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Broker for Herboso & Associates llc