Partnership Realty Inc
Date Published: 2019-11-12
When we talk about short sale, we refer to your property sale for less than what you owe on your mortgage. This kind of sales are made when the owner needs to pay off their mortgage debt.. However, you must comply with certain aspects to qualify for this type of sales, which are:
1- Your debt must be greater than the value of the property.
2- Have at least one payment of your past due mortgage.
3- You have to certify that you can not meet the payments.
Now, if you want to buy a house with these characteristics, it is necessary that you first find an owner who wants to sell in these conditions before going to the bank. In addition, it is important to explain to the owner of the house three things:
On the other hand, it is necessary to speak with the owners about two points of utmost importance before taking the proposal to the bank.
In addition, you must take into account that it is necessary to meet two objectives so that the negotiation with the bank is satisfactory.
This article is made for informative and divulgative purposes. For this reason, it is important that before making any decision, visit or contact a certified specialist in the field, since the opinion of the expert is the one that should be considered.
"I’m going to sell my house.” It seems easy to say and do, but nothing is further from the truth. Selling a property is a complex process that begins with many personal questions and conclusions.
Defining the sale price of the property is of vital importance to start the sale process and it is at this point when the help of a qualified REALTOR® is vital.
The Real Estate Agent will ask you questions at the time of your hiring, such as: Do you want to buy another property with the money you get from this one? In case you are currently inhabiting the property, how long after the sale do you need to vacate it?...