Denver, CO – This is a question that gets asked many times over when confronted with new clients seeking some type of foreclosure relief, in regards to their homes.
This is not always the case! Banks / lenders do prefer to negotiate a short sale of your home rather than the alternative of a foreclosure. But they still seek to obtain a "fair market value" during this process in order to mitigate their losses, too!
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
In most cases, the owner of a property in a pre-foreclosure (short sale) situation, will most likely still be residing in the home, thus taking care of the property with what resources they have. On the flip side, the foreclosed homes have been vacated for quite some time and they ARE NOT taken care of. Creating a LESS value scenario!
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. Which we still encourage the seller to maintain for higher value offers.
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. We see an average of 3-10% less than the fair market 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. As compared to the foreclosed properties that can produce less value by 8-18% on the average!
Thinking about a Short Sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at denverforeclosureblog@gmail.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 303-521-0984
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Request your FREE copy, below!
Thanks for reading this, Dan Hopper.
View My homes for sale at www.danhopper.com.
Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.
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Important Notice
Dan Hopper, Remax Alliance, 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 Dan Hopper's personal views and do not reflect the views of RE/MAX Alliance.
This information on Stop Foreclosure: Do Short Sales Always Sale Far Below Fair Market Value?, is provided as a courtesy to our viewers to help them make informed decisions.
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