You can sell your house on a short sale if you find a willing buyer. Real estate investors that specialize in short sales and foreclosures should be able to help you.
Short Sale Tips – Carrolton TX Real Estate: You’ve read about short sales and believe this might be a good idea for you. Your house has been on the market for months with no signs of selling and the time for you to settle your past due mortgage payments is almost up. You think it might be a good idea to pursue a short sale buyer, but where would you find one?
Short sale buyers can be anyone who wants to buy a new home, or it can be a real estate investor. The buyer will simply be willing to pay you for your house at slightly less than the market value so you can get the house sold and pay off the mortgage. The short sale will not pay the total amount owed on the mortgage, but the banks are approving short sales in large numbers to recover at least most of their money.
Perhaps the best buyers for you to pursue are the real estate investors.
There is some specific criteria you need to meet in order to qualify for a short sale with your lender. Circumstances beyond your control are generally the reasons they will accept your payment short of what you owe in total. You lost your job, your wife became ill with an expensive hospital stay, or something similar will usually work for approval.
Perhaps the best buyers for you to pursue are the real estate investors that deal with short sales on a regular basis. The ones with experience in this area could be very helpful to you. They can approach your lender for you and tell them what they plan to offer for your house. They understand the official short sale approval process and know how to get it done.
You will most likely need to write the lender a letter that describes why you believe you should be allowed a short sale. If you aren’t familiar with what should be in your letter, which papers need to be presented and filed, and anything else you should know about it, it might be best to enlist the help of an investor.
They buy houses in this situation and can help get lender approval for the process. It will be important for you to know whether or not you will be forgiven the difference between what you really owe on the mortgage and what the proceeds will be from the sale. Find a real estate investor that does short sales in your area and give them a call.