Glendale, California Real Estate | Short Sale Specialist | Short Sales | California Free Loan Modifications – People often wonder why their lender will release their debt in a short sale. Most lenders don’t like to release the debt. But, they agree to do it because they know that policy nets them more money.
They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let’s go thru a few examples.
See the home in the top picture? You can see that it is good shape. Most short sales are being sold while the homeowner lives in the home.
The homeowners are able to keep the house up. They keep the inside clean and neat. In addition, they mow the lawn and keep up on the yard.
This makes a big difference in the sales price. Would you rather buy a home that is in great condition or one that needs work?
Now look at the home in the bottom picture. That is an abandoned home in foreclosure. No one is there to keep up on the yard.
Abandoned Home in Foreclosure.
The inside of the home is probably dirty. Vagrants can break into the home. The home is also an easy target for vandalism.
The bottom line is that most short sales are in better shape than a foreclosed home. In fact, they are usually in much better shape.
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Thanks for reading this, Jennifer Escobar.
Jennifer is a Real Estate Agent at Qwest Real Estate.
My BLOG: www.Glendale-ShortSales.com
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