How the Short Sale Process can Help You
Getting a house off your hands with using the short sale process will help you avoid other things that you do not want to have happen with your house. Some people might try to do a deed in lieu, but you can sell that house to get it off your hands faster. You might sell it for less than you owe, but you will make the bank happier.
A short sale involves working with the lender, but you also need to have an agent who is there to help you find a seller. These sales require more paperwork, and you must have an agent with you who will help you go to closing with the right documentation. You will be forgiven for all the debt that is left on the table, but the house will be sold. You can actually manage this sale like you would any other sale, but you will sell for less than you owe when it comes time to close.
The representative from the bank needs to be able to work with your agent to make sure the short sale is handled the right way, and you need to have the cooperation of the bank so that they can discharge the debt for you. You are not off the hook until the bank says that you have done what you are supposed to do. The bank will let the local government know that your debt has been fulfilled, and you will get a discharge letter from the local government, too.
The short sale can be done with any seller you like, but the closing must be handled by a lawyer who does this often. The paperwork takes a little more time to complete, and you need to make sure that you have taken the right steps to get people involved who can help you. You do not list your home for less than you owe only to tell the bank that they are out of luck. Everyone has to be involved from the beginning so that there is no confusion about what you are doing. Anything less is technically illegal, and the bank will want the rest of their money.
The specialists at Washington Short Sale Team can get your short sale done pretty quickly if you need to get out of the house in a hurry, and you will be able to move on from the house that is clearly too much for you. There is no shame in doing a short sale because you cannot afford the house anymore, and you can correct problems you have had with your mortgage because you are under water. There are a lot of people who want to get their homes sold because they need to move, but you do not have to worry about the value of the house and your mortgage when you do a short sale.
You ask for a short sale when you get started with the process, and an agent at Washington Short Sale Team will guide you until closing where the house is no longer your problem. Contact Washington Short Sale Team at (206) 852-7026 and speak with a short sale specialist today.