Foreclosures are making there way to beautiful Franklin County, and it is important for you to be knowledgeable and well-equipped in these situations as either a potential buyer or seller.
It is also very important for all of us to understand the potential options available to owners in distress situations before one has to go to the extreme of a Foreclosure or Deficiency Judgment. One of these options is listing your property as a Short Sale.
In a Short Sale, the motivated seller has priced their property below the current mortgage balance to either avoid a possible foreclosure or to reduce their debt. Because of these conditions, all offers and terms are subject to bank approval. This can be a difficult transaction if you do not have a Realtor educated in the processes of these negotiations.
Here, at Prudential Resort Realty, we have spent the past several months in training and negotiations with banks that hold mortgages in our area, and it has been fruitful for some of our buyers and sellers. We are also making this information public for you through our new website: www.forgottencoastforeclosures.com. Please let me know if there is a property that you desire listed here so that I can work for you to acquire it. Also, always see the advice of a competent Realtor, because sometimes these properties listed as Pre-Foreclosures are NOT the best deals in our market.
(Photo: Pelicans in flight, autumn sunset. Credit: Ron Baker).
