Dec
1
Written by:
Mayra Lema
12/1/2011 12:00 AM
IL – Some people think that short sales represent a bargain in the real estate world. Some people have said that banks sell short sales for below market value because they want to avoid foreclosure.
That isn't true. Yes, banks do prefer to sell a property in foreclosure as a short sale. They know that short sales usually sell for more money than a foreclosure. I am sure you are wondering why. Let me explain.
Most short sales are still owner occupied. As you probably know all bank foreclosure properties are vacant. An occupied property is much easier to sell than a vacant one.
An owner occupied home looks like a home. The furniture and appliances are setup in their proper places. The house is clean and kept up on.
So short sales do not always represent a bargain. They do represent a bargain compared to other homes on the market whose owners may not understand their home's true value.
The bank will not approve a short sale unless the home is selling at or near it's fair market value. So you get a fair price, but not necessarily a bargain when you buy a short sale. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at info@realtyonegroupinc.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (773) 427-9200
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Jorge Romero.
Jorge is a Real Estate Broker at Realty One Group Inc. Short Sales Realtor:
Phone: (773) 427-9200. info@realtyonegroupinc.com.
View My homes for sale at www.RealtyOneGroupInc.com.
Jorge Romero and Team specializes in loan modification assistance and short sales in Chicago Illinois. Chicago Loan Modification Help, Chicago Short Sales. Chicago Short Sale Realtor IL Short Sales. Realtor.
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