SHORT SALE STATEN ISLAND
A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in Staten Island, NY is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
Short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in Staten Island, Port Richmond 10302, 10303, 10310, South Shore 10306, 10307, 10308, 10309, 10312, Stapleton and St. George 10301, 10304, 10305, Mid-Island 10314, Manhattan, Queens, Brooklyn, Bronx, New York.
Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.
Stop Foreclosure Staten Island
Let our experienced Staten Island short sale real estate agents help you avoid foreclosure in Staten Island, NY. We will negotiate directly with your banks to get short sale approvals for you. Our goal is to reach out and educate homeowners who are behind on their mortgage or think they soon will be. We have solutions that may save your credit and enable you to start fresh.
Staten Island short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Staten Island short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.
Our professional short sale service is totally free for our clients. Contact us for a free confidential consultation today!
Staten Island Short Sales
The easy schedule of loans and a number of connected techniques like the payment of equivalent monthly installations has made purchasing a home a simple task. With the quick growth of real estate service in Staten Island, NY you can swiftly prepare an excellent house for yourself currently. Nonetheless, a lot of times, such investments can become risky. Home mortgages on a home too can confirm to be the hugest risk possible. You often can not concern terms with the place. At the same time, there are several opportunities that the value of your home can depreciate as opposed to appreciating. Consequently, the value of money that you have actually spent on the house is a lot more than its present value. This at some point ends up being a higher problem, if you bought your home on a home mortgage. To this rescue, comes a passionate option is known as Short Sale.
By doing a short sale in Staten Island, New York, we simply mean that you can sell your undervalued home to another buyer with the approval of your financial institution. If the money owed to the financial institution occurs to be greater than the amount you will really get, in case you sell your house, after that the best choice would be to do so. If the financial institution consents to a short sale, you can sell your home to a buyer at its decreased value as well as obtain the balance crossed out by the bank. Typically, the bank crosses out your equilibrium from its account. The amount not paid by you shall be revealed as revenue in your accounts by the bank.
Short sale Staten Island only takes place when there is an outright assurance that the cash worth of the house can not increase in the future. In order to avoid the risk of a total loss, the bank commonly approves the decreased amount of short sale.
Dangers also exist if you are the one who purchases short sale homes in Staten Island, NY. There are lots of common mistakes that individuals make when they purchase a house for themselves in a short sale. If you are getting such a house, then you should thoroughly look at the condition of the property. Real estate investment will just be profitable if the house is in good condition. Another typical mistake is that of ignoring property issues. You must ensure that there are no forgeries or legal issues with the property that you are purchasing otherwise it may result in bigger problems in the future.