Monday, February 8, 2010

Single Homeowners - If you are considering a short sale, watch this.

Often when I speak with clients regarding the options of selling in a distressed situation, I often do not follow the standard line "well let's short sale". This probably has lost me many sales. But in good conscience I can't recommend a short sale unless a client is completly aware of the outcome. A short sale in my opinion does not offer a homeowner really any benefit, why?

1. Your credit is still going to be wrecked, face it.
2. You may still have a taxable issue on the difference between what you owe and what you sell for. This changes per state so make sure to check with your with your tax person.

Watch this video, it is a great eye opener on why a short sale is not for the benefit of the seller.

Video Marketing and Mortgage News Designed for Mortgage and Real Estate Sales

Should you have any further questions, please do not hesitate to contact Kelly

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