Why would I participate in a Short Sale?

You may be asking yourself what the purpose of a Short Sale is. Well as with anything, the purposes are the benefits.

The benefits of a Short sale are as followed.

  1. In a short sale scenario the homeowner remains in the property until the transaction is complete.
  2. A short sale reports different and less harshly on a homeowners credit than a foreclosure.
  3. In most cases a homeowner can re-enter the housing market much sooner when they have experienced a short sale versus a foreclosure.
  4. A short sale results in a closed transaction where as a foreclosure the homeowner is still responsible for the debt that occurs until the house is sold