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Who Benefits From A Northeast OH Short Sale?

Northeast OH – Even though lenders pretend to hate short sales, they actually benefit from short sales. Let me explain why.

A lender gets to sell the house at today’s price, versus what it will be worth 6-12 months down the road. We just did a comparison and pulled up sold listings.

All of the listings were the same, very comparable, and located in 3 similar, comparable neighborhoods. All were less than 2 miles apart.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

First, we looked up the average selling price per SQFT of homes that sold in a 3 month period. In spring 2009, all the homes sold for an average of $103 a SQFT.

Then, we pulled up houses in the same neighborhoods that sold after the bank had foreclosed on them. Those sales were 6-9 months later than the original sales.

6-9 months later, the average sales price of a home in these neighborhoods was $85 a SQFT. These homes average 1,700 a SQFT.

That means a 1,700 foreclosure sold for $30,600 less than it would have sold as a short sale six months before. Ouch! Sure, most short sales are cheaper than comparable bank owned or “seller with equity” sales.

But, we’re bringing a tremendous amount of value to the bank. The other person that’s getting value is the buyer. They get a better deal in today’s market than buying a “seller with equity” or REO.

You, the seller is also getting a better deal. You get a lower deficiency and your credit is back to normal in 18-24 months.

A short sale is a win – win for everyone involved. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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