Clyde Hill Real Estate & Homes
Our Clyde Hill Realtors will help you finding luxury waterview real estate and homes for sale in Clyde Hill Washington. Be sure to ask about short sale and foreclosure homes for investment.
What is a Short Sale?
It's a homeowner selling their home for less than what they owe on their mortgage. For example, if you had a $700,000 home that you can only sell at the current market value of $500,000. Then, homeowner gets an offer from a buyer and negotiate with their bank, and get the forgive of the difference. It sounds like an easy process but, actually it's NOT. It is a difficult process. We want you to be aware that not every realtors and real estate agents are short sale specialists.
+ Free Consulting with our Clyde Hill Short Sale Experts, CDPE (Cretified Distressed Property Expert) and SFR (Short Sales and Foreclosure Resource) certified.
Clyde Hill Short Sales
Q. Why the Banks get Financial Benefits by Forgiving the Shorted Difference?
A. Simple. It is Expensive for the lender to foreclosure a home. Some of the lender’s costs could include Legal fees, Insurance, Taxes, Eviction cost, Holding costs until sold, Title closing fees, Selling cost, etc. On average, it costs as high as $50,000 per foreclosed property. Their business is Loaning Not, Owning!
Q. Impact on Credit - Short Sale vs. Foreclosure?
A. Short Sales are considered preferable to foreclosures because short sale (1) lessen the impact a foreclosure can have on the surrounding community and (2) won't damage the distressed your credit as much as a foreclosure. For instance, if you are still current with other payments, a short sale may lower your credit score by as little as 50 points.
Short Sale Homes For Sale in Clyde Hill WA
Why Short Sale? The Short Sale happens in Pre-Foreclosure stage. If the short sale is successful, the seller escapes foreclosure and the corresponding hit to their credit report. They only sustain smaller hit on their credit report for any missed payments and the short sale.
Our Clyde Hill Short Sale Specialists will help you to close a Successful Short Sale in Clyde Hill, Medina, Bellevue and Mercer Island, WA!
3 Reasons to Avoid Foreclosures
1. Foreclosure Follows You You will always to disclose that you have had a foreclosure on any mortgage application as well as many job applications. This can have an adverse affect on your future mortgage rates. This is a credit item that is asked about specifically in credit inquiries. There is no 7 year time limit on this item.
2. Credit Score Negative Impact Your Credit Score will be lowered by 300+ points. Among with bankruptcy, a foreclosre is one of the most devastating credit issues you can have in realtion to future credit availability.
3. Possibility of Deficiency Judgment Your lender can seek a deficiency judgment against you and collect any amount they do not recuperate at the bank sale.
