SEARCH MD DC VA SHORT SALES
As a Realtor dealing with several short sales listings I speak everyday with good people that are behind in their payments and when a foreclosure is slowly becoming a reality. .
If you are in this situation. .
I would advise anyone to discuss it with an experienced Realtor. Short Sales are not a part of real estate basic training but there are a number of Realtors that have adapted to the reality of the market out there. . in just Maryland DC and Virginia there are thousands of short sales being offered. Realtors have an incentive to get involved in Short Sale situations because they get paid by the banks.
It is the only way to sell a home and the seller not pay a commission .. .
and it’s the only way to sell a home when you owe MORE to the bank than your house is worth.
The basic requirements for a Short Sale are a Listing Agreement with a Realtor and a Sales Contract from a Buyer which are submitted to the Lender along with a Hardship letter from the Seller explaining why they cannot continue to pay the mortgage and supporting documents such as tax returns, bank statements, additional information that your Realtor may provide and maybe the difference that will get the short sale accepted.
It is critical you work with someone with experience. . .after all most Realtors can take a short sale listing. . but only a few know how to make it a success and create a win-win for you and the bank.
CONTACT SHORT SALE AGENT/REALTOR
Fernando Herboso
