4 Common Short Sale Myths Debunked by Lakeland FL Short Sale Agents
For some homeowners, a short
sale might be the best possible option offered by Lakeland FL short sale agents. But others don’t agree immediately because of the many misconceptions
surrounding this process. People fear what they don’t know, and tend to believe
the first thing they hear. If you are considering a short sale, the following
myths must be cleared out of your way to help you better decide.
Short sales are never
successful
Contrary to this popular
belief, there are many successful short sales every day. Distressed homeowners
have benefited from short sales which has saved their homes from foreclosure.
What’s for certain is that the process is more complex and it may take a longer
time, but it is not impossible to achieve given the proper handling. Much of
the short sale process has been discussed in our articles in http://LakelandFL-ShortSaleAgent.com/.
No buyer would be interested
in a short sale
This is just not true. In
fact there are some homebuyers who would rather go for short sales in Lakeland
FL rather than the regular home for sale. This is because short sales and
foreclosures are generally viewed as great deals since homes are most of the
time sold in relatively lower prices than the actual value of the homes.
The bank would rather go for
foreclose
Although foreclosure seem to
look like the easier path, it isn’t true that banks would prefer this over
short sales. Foreclosure will cost the bank a lot more with the foreclosure
procedures. Moreover, their lost would be greater when compared with a short
sale if foreclosure happens. So don’t think that banks will never approve your
short sale. As long as the documentation is complete and a good offer is there,
short sales would always be preferred.
The seller should be delayed
in mortgage
You don’t necessarily have
to be behind in your mortgage before you are considered for a short sale. The
requirements for a short sale include a hardship letter which details your
financial difficulty, insolvency, and a monthly income shortfall. So you may be
able to pay your mortgage now but because there is a strong chance you can’t
make your future payment, a short sale may still be for you. Talk to your
Lakeland FL short sale agent at once for more information on how to qualify for
a short sale.
It isn’t impossible to have
a successful short sale, as long as you entrust your Lakeland FL homes for sale
to an agent who has had years of experience in this field. Professional short
sale agents will help you identify all the other myths about short sales just
like the ones listed above.
Call me, Petra Norris, at
(863) 619-6918 or send me an email at petra@petranorris.com if you’re looking
for a Lakeland Florida real estate agent with superior local knowledge,
experience, professionalism, integrity, and personal service to help you sell
or buy short sales in Lakeland FL.
Petra Norris, REALTOR®…
Going The Extra Mile For
You!
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