Congrats! You are ready and excited to either buy or sell a home. But what’s next? Make sure you hire a Realtor that’s right for you.
Here are 3 simple, yet powerful questions to ask when interviewing a Realtor. Listen to their answers and be prepared to make it a 2-way conversation. The right fit is crucial!
Let’s chat! Coffee is on me. 206-930-1597
As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview.
A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they owe. The lender can allow the homeowner to sell the home for less than the amount owed, freeing the homeowner from the financial predicament.
On the buyer side, short sales typically take three to four months to complete and many of the closing and repair costs are shifted from the seller to the lender.
On the other hand, a foreclosure occurs when a homeowner can no longer make payments on their home so the bank begins the process of repossessing it. A foreclosure usually moves much faster than a short sale and is more financially damaging to the homeowner.
After foreclosure the bank can sell the home in a foreclosure auction. For buyers, foreclosures are riskier than short sales, because homes are often bought sight unseen, with no inspection or warranty.
A client from SoCal texted me on Thursday night after seeing a home online and wanted to see it as soon as possible. Trouble is, he was 2,000 miles away.
It made sense for why he wanted more info on it: Waterfront property, fully updated, 3 decks, and an HOA that pays for the island’s private ferry. And only $359,000! Kicker? I wasn’t sure, but I was more than happy to go check it out for him. Facetime is a wonderful tool for Sight-On-Scene purchases.
So check out the journey that my Managing Broker and I took and tell me if you think it’s too good to be true. (Hint: Rumor has it, there were at least 3 offers on it in the first weekend).