Managing broker for Edina Realty Lakeville office. My goal is to bring you real estate home sale tips, interest rate information, home staging, inventory data, price appreciation or depreciation, homes for sale, condo's for sale, lakeshore, hobby farms, acreage, land for sale, commercial real estate and more.
Friday, July 17, 2009
Short Sales - The best option to avoid foreclosure
Many homeowners are facing the idea of letting their home go to foreclosure. It is in the best interest of the lender and the seller to try and work out a lesser payoff 'aka' short sale on the property. This prevents the lender from having to take the property back that is stripped of copper, appliances, mechanicals... or just plain trashed. The key to negotiating a short sale is to start early, have a solid plan of action and be persistent. Short sales do take some time to complete, but you are much better off in the long run to try this process before the bank forecloses on the property. Please feel free to call me or email me if you or anyone you know is having to make this hard decision.
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