The reason is because short sales sell for much more than a foreclosed property does. Most short sales have a homeowner who still lives there. The homeowner has kept the home in good shape.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
They mow and water the lawn, trim the bushes, and keep up on the house. Now, let's contrast this with how banks keep up on their foreclosed properties.
A bank usually takes 2-6 months to put a foreclosed property up for sale. Sometimes they take even longer. They usually do not turn on the power until the home is put up for sale.
So the house sits empty. In the summer mold will grow on the walls inside. In the winter water pipes can freeze and break. Water may even leak all over the house.
The lawns are rarely watered or mowed. The homes are simply not kept up. As a result they sell for substantially less than a short sale or traditional sale.
Here is a good example. A house was listed for sale as a short sale. A $310,000 offer was obtained. The short sale was not approved. The home was foreclosed upon and sold as a bank owned property.
It sold for $225,000. Buyers know that they can get a better deal on a bank owned home. So they start their offers at a lower price.
The bottom line is that short sales help support home values. So the next time you see a short sale seller, thank them for supporting home values, and as a result the entire economy. 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 robin.lemmons@kingthompson.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 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
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Important Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed 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 Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on How A Columbus Short Sale Can Help Save The Columbus Housing Market is provided as a courtesy to our viewers to help them make informed decisions.
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