Another option is to consider a short sale. This is when you sell the house for less than you owe, and must be approved by the lender. If you’re approaching foreclosure, you can also see if you can reach an agreement with the lender to call off the foreclosure and take back the deed.
HOW A GOOD REAL ES D REAL ESTATE AGENT CAN HELP GENT CAN HELP
If at all possible, I want to save you from a short sale, foreclosure, or bankruptcy. While there are cases where these are unavoidable, they’re not always inevitable. That’s why I always recommend talking to an agent like me who’s an expert in expired listings. I can advise you from an unbiased perspective, which is especially important when you’re dealing with all the emotions and decisions during this stressful time, and I have the experience you almost certainly lack. Agents typically have strong networks, so by hiring a new agent, you’re gaining access not just to them but to a whole new group of people who may be able to help. This includes other agents with buyers who may not have seen your home, as well as attorneys, title companies, home inspectors, and mortgage consultants. In addition, a good agent can also give you information about tax benefits you may qualify for. Competent agents will also make sure your home is well-priced, go over improvements that could make your house more desirable to buyers (more on this in later chapters!), and be your intermediary in all kinds of transactions. They may not always give you the answers you’re hoping to hear, but they will give you answers that are in your best interest.
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