Short sale properties are in demand nowadays due to the reason that most homeowners are facing foreclosure but they don’t want this situation to happen so, a short sale process will occur. Basically, this process is just one of the other options for the owner to not totally foreclose the house. This is already happening around the globe including short sales in east cobb.

In this short sale real estate process, this will involve the bank, the owner and the buyer’s perspective. So, here’s a simple way to understand about this matter.

Considering you’re the owner and you fail to pay your mortgage monthly, you will have a foreclosure notice so before this happens, you consider doing a short sale. You’re maybe aware that when you have a foreclosure record, this can greatly damage your credit report which you will be having a hard time to obtain a new home. However, having a preventive measure to a total diaster, doing a pre-foreclosure process will help you easily repair your credit score compared to foreclosure. A short sale can be a good idea if you want to sell your east cobb ga short sales home fast especially if you look for investors who are willing to buy with cash.

On the bank’s part, as much as possible, they don’t really want to sell the property because it can be a tedious task. This means that if they totally forecloses the house, they have to find a real estate agent, fix the house and wait for months before it is totally sold.

On the buyer’s side, this can be his chance to purchase an affordable home compared to a brand new one especially if he looks into east cobb short sales. Well, it isn’t really far if you look into properties under foreclosure and brand new home. The only thing that matters is that if those pre-foreclosure properties need necessary repairs if it is unmaintained.

Overall, short sales has its benefits and drawbacks but if you are aware of the process, for sure, there’s nothing to worry about.

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