Before you begin with a short sale you might want to understand the how the process works, the legal requirements, and how much it will cost you to short sell.
The simple and plain answer to this is that a short sale shouldn’t cost you anything. If it does, then it should be very little. In most cases, there are no costs or fees required for a short sale.
Most of the costs associated with the procedure of a short sale include the realtors, title costs, transfer taxes, and attorney fees. Your lender should understand that you can’t afford to pay for these costs.
That is why most lenders will pay any costs involved in the sale on your behalf. You might be wondering why your lender would be willing to pay all the expenses. Here is why.
If the reason for your short sale is that you can no longer afford the mortgage payments, then this means that your lender is already preparing to start foreclosure proceedings.
They know that they will have to sell your home after a potential foreclosure. Because of this, lenders encourage short sales. They want to avoid a foreclosure if possible.
A foreclosure is very expensive for the lender. They have to pay all the foreclosure costs, including legal fees, taxes, insurance payments , court costs, etc.
They have to pay to maintain a vacant foreclosed home, pay a realtor to sell the house, and then sell it for below market value. They view a short sale as a less expensive alternative.
This is why they are willing to pay all of the costs associated with 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 email@example.com. I will contact you for a free consultation. Or you can visit my Chicago Short Sale site for great information and articles on Chicago shorts sales at www.ShortSaleSuperMan.com
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, phillip buoscio.
phillip is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. firstname.lastname@example.org.
View My homes for sale at www.BetterLivingRealty.com. Learn more about short sales at www.ShortSaleSuperMan.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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phillip 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 phillip’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on How Much Does It Cost To Short Sell My Chicago Home? is provided as a courtesy to our viewers to help them make informed decisions.