Understanding Real Estate Short Sales

Whether you’re a buyer or seller, it’s important to understand real estate short sales. So let’s take a few moments to examine what a short sale means to both the buyer and the seller of Branson real estate or Table Rock Lake real estate.

Branson Real Estate Short Sales: Guide for Sellers

A short sale is when a bank is willing to take less than what is owed for your home. The motivating factor for a bank is the cost. Often it’s more economical for them to take less than what is owed for home, rather than take possession of the property to resell it. When it comes to your credit report, a short sale does show up, however, it only stays on for 2 to 3 years (opposed to a foreclosure which is 7 years minimum on average). The time to do a short sale is when you first realize making your house payments has become too challenging. If you’ve missed several payments, the window of opportunity to do short sale might be closed. However, there still might be a chance if your property meets certain criteria and there is a qualified buyer interested in purchasing it. In truth though, the best time to consider a short sale is before the first missed house payment.

Branson Real Estate Short Sales: Guide for Buyers

If you’re real estate investor then you know there are discounts to be had when buying foreclosures. However, often the bank that owns the property knows very little about it. With a short sale, you do gain more knowledge about what you can expect with the property. You’ll also find the prices for short sale home can be as competitive, if not better than, some foreclosures. So, as a buyer looking for a new home, a short sale could be exactly what you need.

Branson Real Estate Short Sales Specialists: Gerken & Associates

Whether you’re a buyer or seller of a short sale, you need experts in your corner. At Gerken & Associates, we’ve helped connect buyers and sellers of short sales so both parties can have a smooth transaction. If you’re interested in learning more about Branson MO homes for sale or real estate short sales in the area, be sure to contact us today.