A local short sale is the option usually preferred by anyone who
faces foreclosure. Itâ€™s the path that, with the approval of the mortgage
lender, promises to ultimately minimize damage to the homeownerâ€™s
According to Realty Trac, distressed sales of all
kinds continued to decrease in the last reported quarter, yet the
non-foreclosure short sale volume increased by 4%. That amounts to a
significant 22% of all sales. Realty Tracâ€™s are the most reliable
national statistics, and our Brooklyn short sale profile has likewise reflected the continuing working out of the distressed property phenomenon.
a short sale in New York (or anywhere else, for that matter!) can be
challenging. If youâ€™ve decided that it is your best course, you can do a
lot to help your agent accomplish it:
- From the beginning of the Brooklyn short sale
process, keep your agent informed of any changes in the financial
picture. That means keeping up-to-date on the changing balance remaining
on the mortgage, as well as the number of missed payments. When the
information is at hand, your agent can impart the sense of urgency that
gets your home sold as fast as possible.
- The speed of sale is important, yet while a Brooklyn short sale specialist
is an expert in that arena, other important details regarding taxation
and the law may influence the best overall strategy. By encouraging your
real estate agent to work alongside an experienced attorney or tax
specialist, you will form a team that can execute your short sale
package more efficiently than if they worked independently.
a short sale means meeting multiple demandsâ€”each with its own timing
requirements. That can mean a lot of pressure: but if your agent asks
you to do something or provide additional information, stand ready to do
it! That speeds negotiations with buyers and lenders, increasing the
chance that you will successfully close your short sale.
selling a home is a somewhat complicated process. I offer a
no-obligation, in-home consultation to help assess your circumstances
and the next steps to consider. Call me anytime!