Arrowood has several short sale homes for sale currently and several candidates that “over paid” based on the current market value. What is a Short Sale and how can our Arrowood Real Estate Blog help you out?
Well, basically a short sale is when you pay back the bank ” SHORT” of what you owed/ OWN on your loan.
Johnny and Sheila paid 800K for a home in Arrowood in 2008 and now it is worth 525K. If they want to sell it now at today’s current value they owe the bank the $525 current value AND the remaining 275K on their 800K loan. Normally what seems to be the case is that a short sale is caused by the INABILITY to make the payments.
If you or someone you know in Arrowood is in this situation, contact us today at 760 207 2745.
Not everyone can “Walk Away” from their obligation to make their mortgage payments, and sometimes there can be alternative solutions, if you feel like you have run out of options, are late on payments and are facing foreclosure in Arrowood, give us a ring.
If you are a buyer interested in a short sale, don’t get all excited when you see these prices extreemly priced BELOW MARKET VALUE ( This is a gimmick/ trick several agents try to use to get an offer and then that offer becomes the GUINIEE PIG OFFER until the bank approves a certain price based on a BPO ( Broker Price Opinion). You need a good Realtor to explain the timelines and expectations when persuing the short sale. If you are in no rush and don’t want a good deal NOW, a short sale may be for you. If you are a hungry buyer and don’t want a good deal to go by, you should contact us and or read on about BANK OWNED HOMES.