Short Sale Help
What Is The Benefit Of A Charlotte Short Sale?
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Jennifer Manchester
The main benefit of a short sale is that a short sale can be used to prevent a property from going into foreclosure and allows for faster credit recovery to the seller. That creates a win-win situation for both the bank and the seller. Banks are not in the business of owning houses and do not want houses to come back to them through the foreclosure process. This can be very costly to the bank by the time they pay an attorney to process foreclosure paperwork, have to maintain an empty property, then pay an agent to sell that property as a foreclosure.
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As for the seller, while you will not get away scot free after a short sale, the benefit of a short sale is that you can recuperate financially much faster than if you experience a foreclosure. Situations do vary based on your individual circumstances but generally you will not take as big of a hit to your credit rating with a short sale vs. a foreclosure in most cases. Peace of mind… a Charlotte short sale can also provide the benefit of piece of mind knowing that you did everything in your power to work with the bank to sell the property.
