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How A St. Augustine Short Sale May Help You
While it may not seem like it now, there will come a time where your current financial troubles will pass. You will feel much better knowing that you did everything you could to avoid this devastating financial consequence so many people face today
Foreclosure on St. Augustine homes have consequences for the family, the community, the housing market, and the economy. However, the option for a St. Augustine short sale provides a way for troubled homeowners to prevent foreclosure and many of the dire penalties involved.
A St. Augustine short sale is an agreement in which your mortgage lender agrees to accept a payoff on the home loan for less than the balance. Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount they would gain from selling the property following a foreclosure in St. Augustine. This process also aids in maintaining home values in the community the property is located and helps the homeowner maintain a better level of credit compared to a foreclosure.
Homeowners considering a St. Augustine short sale generally need to have the following to qualify:
A short sale is not a typical real estate transaction. Most real estate transactions involve the home seller and their real estate agent, the buyer and their lender, and their St. Augustine real estate agent. In a short sale situation, all of those parties in addition to the seller's loan servicer, a housing counselor, any junior lien holders, mortgage investors, and insurers may be involved too.
With so many parties involved in a short sale in St. Augustine, the process can be difficult to complete without a qualified St. Augustine REALTOR® to help guide you and act as a liaison between all of the parties involved. The St. Augustine short sale process can be overwhelming and Suzy Evans will help guide you with her advice and expertise as a Florida Realtor that has the CDPE Designation; who has your best interests in mind and will expedite the short sale transaction.
It is essential to have a REALTOR® who knows the market in Jacksonville and St. Augustine and who won't allow you to miss a detail that could delay closing the transaction in a timely manner and to the specifics required by all parties involved. Suzy has the experience in St. Augustine short sales as well as Jacksonville short sales and will also be able to find a buyer to complete the transaction. Homeowners agreeing to a short sale should also consult a tax expert and obtain the services of an attorney to help protect themselves from any future claims by the lender.
