SHORT SALE CHARLESTON SC
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 Charleston, SC is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
A 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 Charleston 29401, 29402, 29403, 29405, 29407, 29409, 29412, 29413, 29414, 29417, 29424, 29425, 29455, 29492, Mount Pleasant, North Charleston, Summerville, Goose Creek, Hilton Head Island, Sumter, Hanahan, Ladson, Ravenel, Kiawah Island, James Island, Sullivan's Island, Johns Island, Wadmalaw Island, Seabrook Island, Folly Beach, and Isle of Palms, South Carolina.
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 Charleston
Let our experienced Charleston short sale real estate agents help you avoid foreclosure in Charleston, SC. 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.
Charleston 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. Charleston 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!
Charleston Short Sales
The easy accessibility of home loans and numerous linked approaches like the settlement of equal monthly installations has actually made buying a home a simple task. With the rapid development of real estate in Charleston, South Carolina you can rapidly intend a suitable house on your own currently. Nevertheless, often times, such investments can turn out to be risky. Home mortgages on a home also can prove to be the hugest threat feasible. You commonly can not come to terms with the location. At the same time, there are lots of possibilities that the worth of your house can depreciate rather than valuing. Therefore, the value of money that you have spent on your house is much more than its existing value. This eventually comes to be a greater issue, if you bought the house on a home mortgage. To this rescue, comes a hearty solution known as a Short Sale.
By doing a short sale, we just mean that you can sell your undervalued home to another buyer with the authorization of your bank. If the money owed to the financial institution occurs to be greater than the amount you will actually get, in case you sell your house, then the best decision would certainly be to do so. If the bank agrees to a Charleston short sale, you can sell your home to a buyer at its decreased value and get the balance written off by the financial institution. Typically, the financial institution crosses out your balance from its account. The amount not paid by you will be shown as earnings in your accounts by the financial institution.
Short sale Charleston only occurs when there is an outright assurance that the cash worth of your home can not increase in the future. To avoid the risk of a full loss, the financial institution usually accepts the decreased amount of short sale.
Dangers also exist if you are the one who purchases short sale homes in Charleston, SC. There are several usual mistakes that people make when they purchase a home on their own in short sale. If you are getting such a home, after that you need to thoroughly inspect the condition of the property. Real estate investment will just pay if your house remains in good condition. Another usual mistake is that of overlooking property issues. You have to make sure that there are no forgeries or legal issues with the property that you are acquiring otherwise it may cause bigger troubles in the future.