What Is A Kent Short Sale?
If you owe more on your home than it is worth or are having difficulty making payments, foreclosure may seem to be the only option. However, a short sale may save your credit rating and give you more control over how to settle with the creditor. A Kent short sales advertisement is likely to pair you with a buyer that is willing to pay enough to satisfy your current debt.
Short sales specialists are on the side of the homeowner. They work with you instead of with your finance company. The fluctuation of property values in the Kent-Auburn real estate market can mean difficulty in finding a suitable buyer, so having outside help from professionals who look for quick purchases by interested parties is ammunition you may need.
Unlike a foreclosure, a short sale is an advertising campaign targeted to a limited number of potential buyers looking to purchase a home for less than its estimated value. While this sounds ominous at first, consider the equity you have in your home and compare that to the value it now has. If it is worth more than it did when you bought it, chances are you can sell it for enough to cover your current loan balance. This is quite favorable for you when the other option – foreclosure – is considered.
Avoid Foreclosure At Any Cost
Foreclosure means the creditor or other finance company seizes control of your home. You get nothing in return except a big black mark on your credit report. While a short sale can also mean hard times ahead when it comes to finding a new place to live, the long-term effect on your credit is much less severe. When you choose the short sale route, you also have control about when you will move, and this is preferable to being told when to go. The latter is what happens when your property is foreclosed.
Paying Off The Lender
When your home is sold by a short sale specialist, you will have the money to pay off the lender. Even if you come up a bit short, you can arrange for paying the balance without your credit taking a direct hit. Your Kent short sales specialist will show you your options and give you an accurate estimate on the probable sales price a buyer will be comfortable with.