If you are facing a foreclosure on your home in Florida, you should definitely consider doing a short sale. A short sale is when you sell your home for less money than is owed on your mortgage, and the lender forgives the difference on the amount owed.
Short sales have become extremely popular as they are often a win-win for everyone involved. The sellers get to walk away without owing any deficiency balance, as well as no foreclosure on their record, and sometimes get cash back at closing. For buyers, they are getting a home at a reduced price, and there are often other incentives given to buyers for purchasing short sales in the form of lender paid closing costs. Lenders benefit because they don’t have to pay to finish the foreclosure, take back the property, market and maintain the property. It’s a short cut for them. Short sales do typically take longer than the average sale of a home, but if you and your buyers are patient, everyone can benefit from the process.
How does the Short Sale Process work?
To start a short sale we have you list your property for sale with a realtor who has extensive experience with short sales. This is a must! We have a great realtor that we work with on our short sales and she really gets the job done, and as fast as possible. Once the property is listed, you have a financial packet to complete, as well as a hardship letter describing what got you into your current situation. Some of the required documentation your lender will want to review is your last three months of bank statements and last 2 years tax returns. Not everyone qualifies for a short sale so it’s imperative to discuss the specifics of your situation with us in advance of embarking on the Short Sale Process.
If you are interested in doing a short sale on your home, then a short sale attorney in Jacksonville can get you started in the process. Robert Peters, Attorney is an expert in short sales and as your attorney can monitor the foreclosure action, as well as having the benefit of direct contact with your lender’s legal counsel. Robert has extensive real estate experience and has guided hundreds of clients through the short sale process with ease. Robert strives to make the short sale process as smooth as possible for his clients.
So, if you are considering buying a home or selling a home via a short sale, contact the office of Robert Peters, Short Sale Attorney in Jacksonville at 904-421-6907 and let him help you through the process.