Chicago 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? Visit www.ShortSaleSuperMan.com to learn about Chicago short sale’s from Chicago’s own short sale expert.
I can help you short sale your property and get back on your feet. Send me an e-mail at firstname.lastname@example.org. 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 (312) 953-6725
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Chicago 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, Phil Buoscio.
Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. email@example.com.
View My homes for sale at www.BetterLivingRealty.com.
Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
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Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on Chicago Short Sale Myth: Short Sales Are Always Sold Below Market Value is provided as a courtesy to our viewers to help them make informed decisions.