Short Sales and Pre-Foreclosure Marketing
In today's challenging real estate market, most properties have declined in value in recent years. In many cases, this has resulted in the remaining mortgage balance(s) exceeding the value of the property. A "short sale" situation occurs when an owner must sell their home, but there are insufficient sale proceeds to fully satisfy the mortgage(s).
A homeowner unable to maintain their mortgage payments may attempt to dispose of the property by offering their lender a "deed in lieu of foreclosure." In such cases, many lenders prefer the homeowner seek a short sale first.
If you are seeking to accomplish a short sale, it's extremely important you entrust the marketing of your property to a full-time real estate professional who can devote the time, experience, knowledge and resources to effect a successful sale.
Donn Roebke is experienced and trained in the short sale process. If you are facing foreclosure or must sell your home on a short-sale basis, please contact me in confidence.