bixby realtor, brian guthrie, wendi guthrie, guthrie real estate, mcgraw realtors, guthrie realtors, realtor in bixby, realtor in bixby ok, search bixby mls, search bixby homes for sale, realtor in tulsa, realtor in tulsa ok, search tulsa mls, south tulsa mls, south tulsa realtor, south tulsa real estate, south tulsa homes for sale, buyers representative, seller representative, buyers rep, sellers rep, midtown tulsa homes for sale, mid-town tulsa homes for sale, mid-town tulsa realtor, midtown tulsa real estate, mid-town real estate, midtown real estate for sale, mid-town real estate for sale, search tulsa area listings for sale, mcgraw, mcgraw realtors tulsa ok, search oklahoma mls, tulsa mls, bixby real estate agent, real estate agent, tulsa real estate agent, oklahoma realtor, oklahoma real estae, foreclosed homes in bixby ok, homes for sale tulsa, homes for sale bixby, real estate, realtors, tulsa realtor, bixby realtor, jenks realtor, glenpool realtor, tulsa realtor, homes, properties, realtors, county homes, Bixby homes, Broken Arrow Homes, Tulsa homes, Kiefer homes, Glenpool homes, Jenks homes, Mounds homes, bixby real estate, bixby realtors, homes for sale tulsa ok, homes for sale glenpool ok, homes for sale kiefer ok, homes for sale jenks ok, homes for sale coweta ok, homes for sale mounds ok, commercial property for sale tulsa ok, commercial property for sale bixby ok, tulsa ok realtor, bixby ok realtor, home seller info, home buyer info, luxury homes bixby ok, luxury homes jenks ok, luxury homes tulsa ok, neighborhoods in bixby ok, neighborhoods tulsa ok, neighborhood jenks ok, vacant land in tulsa ok, vacant land in bixby ok, oklahoma farms, tulsa farms, bixby farms, glenpool farms, country farms oklahoma for sale, oklahoma ranches for sale, oklahoma farms for sale, acreage for sale oklahoma, acreage for sale tulsa, acreage for sale bixby, free real estate info, free info real estate buyers, free real estate info for sellers, get prequalified for a mortgage,
|
|
|
| Understanding Short Sales |
As foreclosure rates hit record levels, more seller are turning to short sales as a way to avoid foreclosure. So how does it work? In a short sale, the seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan. As a result, the seller doesn't have to go through a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property.
Sounds good right? Well, sellers need to know that a short sale may damage their credit, though probably not as much as a foreclosure. Also, lender generally will only agree to a short sale if the seller is many payment behind and has received a default notice. Buyers may get a great property at a discount, but they also will need to go through some extra paperwork too. Buyers and Sellers should also beware that the short sale process takes typically longer than a standard real estate transaction. Those involved should plan for a 3 to 6 month process. |
|
 | Visit the facebook page and make sure to click the [Like] button. |
|
|
|
|
|
|
The information contained herein is furnished by the owner to the best of his/her knowledge,
but is subject to verification by the purchaser, and the associate assumes no responsibility for the correctness thereof. McGraw Realtors has relied upon information provided by sellers third parties, tax authorities and official government records and may contain inaccuracies of which McGraw Realtors is not aware.
|
|
