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Tacoma Short Sales???? What ? Why? How?
Why should I Short Sale my property?
The bank that holds your mortgage (lien holder) will almost always let you sell it short rather than take your property in a foreclosure. Whether you owe more on your home than it will sell for in our current market or financial changes have made it impossible to continue with your current mortgage payments a Short Sale can release you from any mortgage liabilty. It can also cause much less damage to your future credit rating. The lien holder decides on the price and requirements of the Short Sale making the process less demanding for most owners.
Short Sale is my best option... What's next?
Your lien holder will require a package of financial information that documents why and when your mortgage became a burden. This includes things like W-2's and bank statements, a letter explaining your situation and tax records. Once you get this package together it's a matter of finding a buyer for your property. We have a full list of what is required in the typical package.
How do we actually sell our property as a Short Sale?
Typically, our clients find the process is very similar to listing and selling a home under normal circumstances. Since the selling process is now more of a concern for your lien holder many decisions and tasks are no longer a strong concern for the property owner. Additionally, there are some duties that a Real Estate professional familiar with Short Sales will handle on your behalf. The property is often priced at the very low end of market value to ensure a quick sale for the lien holer. Click on the Sapphire Group link below to request e-mail information from a Short Sale expert
