Delinquent on Mortgage Payments, Foreclosure Pending, Job Loss, Divorce, Job Transfer, Distressed Property, Owe More Than Property is Currently Worth -IS SHORT SALE AN EXIT FROM THE SITUATION?
What is a short sale?
A short sale occurs when the net proceeds from the sale of a home are not enough to cover the sellers’ mortgage obligations and closing costs, such as property taxes, transfer taxes, real estate commission.
Causes : Flat or falling home prices, home-equity credit lines, 100-percent financing that drained out equity, and spiking interest rates on adjustable mortgages.
Steps:
1.Call us - APEX Real Estate Brokerage professionals are skilled at negotiating Short Sales. We have a team of professionals skilled at handling short sale situations.
2. We are experts at positioning your property on the market to make sure it gets the best exposure.
3. We will lead you through the process every step of the way!
4. We will help you find you next home!
- Beware of scams!!! Consumer groups have learned that advertisements that say “Cash for Houses/Any Situation” or “We Buy Houses for Cash” bait homeowners with the promise of rescuing them from imminent foreclosure. Unfortunately, the “rescue” often involves the borrower signing over title of the house to a different person or entity, thus, and the family ends up being evicted from their home.
- It is important that sellers work with a licensed Illinois Realtor to sell their home. REALTORS are in the business of helping homeowners and have the expertise to guide them through a tough situation. A REALTOR has the expertise to develop a reliable Comparable Market Analysis (CMA) to determine the current fair market value of the home.
- Understand the tax implications of the decision to sell short and consult with a tax advisor. See Realtors Applaud Elimination of "Phantom Tax" further in this article.
There will be paperwork and research required of you in this process. CALL us at APEX Real Estate Brokerage - we will walk you trhough the process!
APEX Real Estate Brokerage is an agency experienced in negotiating Foreclosure and Shortsale transactions. We believe that every transaction is unique and requires an individual approach. APEX Real Estate Brokerage is dedicated in negotiating the BEST DEAL for EACH and EVERY CLIENT by doing a thorough marketing analysis research, evaluation of the future property potential and consistent follow up with all parties involved in a real estate transaction.