{"id":4813,"date":"2022-10-26T15:32:30","date_gmt":"2022-10-26T15:32:30","guid":{"rendered":"https:\/\/cloud03.titletapsites.com\/testblog\/?p=4813"},"modified":"2022-10-26T15:32:30","modified_gmt":"2022-10-26T15:32:30","slug":"advantages-of-a-short-sale","status":"publish","type":"post","link":"https:\/\/diecklaw.com\/advantages-of-a-short-sale\/","title":{"rendered":"Advantages of a Short Sale"},"content":{"rendered":"<p>If a homeowner loses the ability to meet the financial obligations of their mortgage loan, a short sale is an alternative to foreclosure. Still a complex process with financial and legal consequences, a short sale can be advantageous to multiple parties in the transaction.<\/p>\n<h2>Short Sale Homeowners \/ Seller<\/h2>\n<p>The greatest advantage is the avoidance of foreclosure, which can have a greater financial, legal, and credit impact. It can be a much simpler and more dignified process, allowing the homeowner to move on to affordable housing faster and with fewer complications.<\/p>\n<h2>Short Sale Buyer<\/h2>\n<p>Not all buyers are willing to purchase a short sale home. It can take months to close on the property, and deals can fall through. Some buyers prefer to make an offer on a short sale aiming to secure a quality home below market prices. Real estate investors are attracted to short sales for this reason.<\/p>\n<h2>Homeowner\u2019s mortgage lender or servicer<\/h2>\n<p>A foreclosure is a complex and lengthy process that is also quite costly for lenders. Since foreclosed properties are sold anyway, many leaders will be open to a short sale as it minimizes the work they must do and, ideally, minimizes their lost revenue and expenses.<\/p>\n<h2>All other parties<\/h2>\n<p>There are professionals that specialize in managing short sale transactions. Listing agents, buyer&#8217;s agents, appraisers, inspectors, mortgage brokers, title companies, and insurance companies all earn payment for services rendered.<\/p>\n<p>In years following the \u201cGreat Recession, short sales became common, rising to 11% of home sales in 2009 (<a href=\"https:\/\/money.cnn.com\/2009\/02\/03\/real_estate\/foreclosures_dominate_housing_market\/index.htm\" target=\"_blank\" rel=\"noopener\">reported by CNN Money<\/a>) as opposed to less than 1% in 2021, according to the <a href=\"https:\/\/www.nar.realtor\/newsroom\/existing-home-sales-retreated-5-9-in-july\" target=\"_blank\" rel=\"noopener\">National Association of Realtors<\/a>.<\/p>\n<p><strong><a href=\".\/real-estate-attorney\/\">Browse more real estate law articles<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If a homeowner loses the ability to meet the financial obligations of their mortgage loan, a short sale is an alternative to foreclosure. Still a complex process with financial and legal consequences, a short sale can be advantageous to multiple parties in the transaction. Short Sale Homeowners \/ Seller The greatest advantage is the avoidance&hellip;<\/p>\n","protected":false},"author":11,"featured_media":4909,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[41],"tags":[46,42,43,47],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Advantages of a Short Sale - Towson, Catonsville, Howard County, MD | Dieck|Keir<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diecklaw.com\/advantages-of-a-short-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advantages of a Short Sale - Towson, Catonsville, Howard County, MD | Dieck|Keir\" \/>\n<meta property=\"og:description\" content=\"If a homeowner loses the ability to meet the financial obligations of their mortgage loan, a short sale is an alternative to foreclosure. 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