what are down falls to selling a house to an investor instead of a realtor?
Posted by admin in Finance Friday, 6 May 2011 00:15 2 Comments
trying to make a quick sale to get out of my house. What is a short sale? And should I not go through an investor instead of a realtor
Short sale: Price of house is lower than the loan value owed. It means, you’ll receive no proceeds from the sale. You’ll also have a corresponding income from the amount of the debt that is “forgiven” — That 1099 next January could be a whopper.
Short sales are not concluded quickly as you need to get approval from your mortgage lender. A realtor just finds people to buy your home. If you find someone not using a realtor, then good for you.