Short Sales In Buckhead
Posted by Ben Hirsh on Monday, July 20th, 2009 at 3:28pm.Short sales in Buckhead have become more and more prevalent and many clients are asking about what exactly a short sale is. I will start with what a short sale is not: It is not a foreclosure. There are plenty of foreclosures in Buckhead, but foreclosures mean that the bank has already taken over the property and is now offering the home at a specific price. Short sales on the other hand, are still owned by the home-owner who is attempting to negotiate a payoff of their existing mortgage for less than what they actually owe. The price listed on a short sale property is not guaranteed and it must be approved by the bank holding the mortgage. This short sale approve process can take anywhere from 4 weeks to 12 months depending on the situation and the banks response time. Unless you have ample time and patience to wait on a response from the bank, short sales that have not been approved by the bank should be avoided. One of the greatest frustrations to Buckhead short sale buyers is when they offer full asking price on a property only to have it turned down or countered by the bank at a later date. Short sale in Buckhead that have already been approved by the bank at a specific price are nearly as hassle free as any other sale. So how do you tell if a property has been approved for a short sale? Just ask me! Email or call me with the property information and I will investigate the property and tell you if it is worth your time. If you have a home in Buckhead that you must sell due to your financial circumstances and you need a broker to negotiate a short sale on your behalf, then just give me a call. My team and I have a 100% success rate in our shorty sale negotiations and we would be glad to be your listing broker and do a personal assessment of your situation to see if you qualify!
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