Buying a house, selling a house, engaging in any kind of transaction involving property; all of these are stressful situations – perhaps some of the most stressful situations we will face in our lifetime.
But, when we factor in a short sale, the stress level is increased even further. So what is a short sale? What should we do when this happens?
First of all, don’t panic, and don’t despair. Take a look at our guide.
What Is a Short Sale?
A short sale refers to the situation which occurs when a property is sold in order to cover the debts which are secured against it, but the property value is not high enough to completely cover those debts.
Obviously, this results in an awkward situation in which the asset has been sold and yet there is still an outstanding debt to be repaid. It is easy to see why this can quickly become a source of anxiety.
What Is the Best Plan of Action?
In some cases, the debtor and the lender will enter into negotiations. The debtor and their legal representation will try to persuade the lender to accept an amount which is less than the amount owed, to reflect the outcome of the property sale.
The problem with this is, if you are in this position and you have just sold your property, you are at the mercy of the lender. The lender is under no legal obligation whatsoever to accept the reduced offer of reimbursement.
Revolver Properties Are the Experts on Short Sales
Fortunately, Revolver Properties based in Brooklyn, NY are the short sale experts, with years’ worth of experience in helping homeowners who are facing the prospect of a shortfall in income from their property sale. The team specializes in assisting homeowner in Brooklyn, NY and can provide surprisingly positive outcomes for people who have found themselves in tricky situations.
One of the most worrying aspects of selling a house to cover debts is that the value of the property will not be enough. At Revolver, we understand this. We aim to put your mind at ease by purchasing your property outright, in cash, for a suitable sum. This provides you with instant cash flow, and will hopefully enable you to either pay off or significantly reduce your debt.
We have helped hundreds of homeowners just like you to achieve a positive outcome, even when a valuer forecasts a short sell. To find out if we can do the same for you, please get in touch with our team today. We are waiting to hear from you. You can fill out a quick form on our website at www.wepayforproperties.com or email us at email@example.com or feel free to text or call us at 917.364.3054. Thanks from the Revolver Properties Team!