Spokane, WA Real Estate: Short Sales ........

Jeannette Karis "The Real Estate Broker with the English accent!"

Buying or selling a short sale property home in Spokane, WA? Put a SFR�, Short Sale & Foreclosure certified REALTOR� to work for you.

What is a Short Sale? - it is the situation in which the seller (1) owes more money on the loan on the property (and any other liens on the property) than the sale of the property will likely produce in the current market and (2) is unwilling or unable to bring money to closing.

A short sale may be considered preferable to a foreclosure in some instances because short sales lessen the impact that a foreclosure can have on the surrounding community and won't damage the distrssed owners credit as much if the borrower is still current with other payments.

Options for Distressed HomesOwners ...

• Refinance
• Lender Workout - Loan Modification
• Sell and bring cash to closing
• Short Sale
• Deed in Lieu of foreclosure
• Foreclosure
• Do nothing and walk away

SNAP is a great resource for distressed sellers.

Legal and tax advice should be sought before making a decision to determine which is the right choice for you. Brokers CANNOT GIVE legal advice.

Short sales allow a seller to avoid foreclosure and salvage their credit.

The Washington Dept of Licensing has made the following Short Sale Seller Advisory information available

The WA State Foreclosure Fairness Act is explained in 3 videos prepared by Washington REALTORs, the Dept of licensing and WA Attorney Generals office.

There may be another option to save you and your home from foreclosure. Short sales allow you to avoid foreclosure and salvage your credit .......