St. Augustine Short Sales
Learn About the St. Augustine Short Sale Process
What is a short sale? Is a short sale better than a St. Augustine foreclosure? Do you qualify for a short sale in St. Augustine? Who can help me sell my home as a short sale?
These are the questions that many homeowners are currently asking regarding their homes in St. Augustine. They are tough questions that no homeowner wants to ask but it’s become a reality for many people currently living in St. Augustine.
 |
There are many reasons that you might be considering selling your home
as a short sale or perhaps you’re not even aware that a short sale is a
viable alternative for your family. If you’ve made it here, though, you
are taking a step in the right direction by becoming informed about
your available options which may help you preserve your credit rating.
So, what is a short sale?
A short sale is the sale of property
where the proceeds fall short of the balance on the loan. All proceeds
of the sale are given to the lender once the sale of the property is
finalized.
|
A short sale must first be approved by the lender who agrees
to discount the remaining loan balance. This essentially is better for
both the borrower as well as the lender as it helps to preserve the
borrower’s credit and helps the lender sell the property faster and for
more money; especially in a down economy.
St. Augustine Foreclosures
& Short Sales
|
|
Is a short sale better than foreclosure?
If you qualify for
a short sale this is definitely a better alternative than if the bank
were to foreclose on your property. While your credit rating will not
be as adversely affected as it would be if your home were foreclosed
upon, it is also important to understand that your credit rating will
be affected if you choose to sell your St. Augustine home as a short
sale. Typically, a short sale will stay on your credit report for 7
years. However, depending upon the terms of the short sale as well as
other items on your credit report, you may be able to obtain another
mortgage within 1 to 3 years.
Avoiding a short sale and foreclosure altogether is definitely the best option for any family, though, if possible.
|
|
|
Who qualifies for a short sale?
It is important to understand
that you must be able to prove that you are not currently able to pay
your mortgage due to financial hardships before your lender will
consider a short sale as an option for your family.
St. Johns County Foreclosures & Short Sales
|
|
Additionally,
it must be in the lender or banks best financial interest to approve a
short sale. In short, if the bank believes they will be able to recover
more money by approving a short sale rather than taking ownership of
the property you’ll be more likely to get short sale approval.
Enlisting the help of someone familiar with the short sale process is
one of the best ways to ensure you do the right thing for your family.
Who can help me sell my home as a short sale?
As a CDPE,
Certified Distressed Property Expert, designated Realtor I am
qualified to help you through the short sale process from deciding
whether a short sale is right for your family, talking to your lender /
bank, negotiating the terms, and helping you get back to you day-to-day
life.
|
|
|
If you’d like additional information emailed to you
about the short sale process please fill out the form to the right or give me
a call. Once you’ve filled out the form below I will email you
additional documents that will help you understand the short sale
process further.
Call me for a confidential... NO OBLIGATION consultation!
Suzy Evans
Davidson Realty Inc
100 East Town Place, Suite 100
St. Augustine FL 32092
Business: 904.347.5447
Email: sevans@davidsonrealtyinc.com
|
|
|
|
|
|
|
|
|
|
|
Suzy Evans, Realtor 904.347.5447
|
|
|
