Foreclosure/Short Sale

 

Foreclosure/Short Sale – Sellers

For someone facing foreclosure the first reaction is to deny, deny, deny. Unfortunately that will only delay, delay, delay and as time goes on take away many of the options that you have in dealing with your creditor and averting a potential foreclosures. The key is honest and open communication EARLY with the lending institution. It also helps if you have an experienced real estate professional in your corner to identify all possibilities and to do the “heavy lifting” with the lender. Timing is everything and it takes a real professional to ensure that the timing is right.

 

Foreclosure/Short Sale – Buyers

The conventional wisdom is that because a property is lender owned that you can get a really good deal on it. The sad truth is that dealing with banks typically takes the patience of Job and a very good understanding of the current real estate market. Without those two qualities you will experience a lot of frustration never achieve your goal of getting a “good deal” on a property.

 

If you would like more information on foreclosures/short sales or if you think that you could be facing a foreclosure in your future please contact us.