Home Seller’s and Home Buyer’s relief from Short Sale Night mares is finally here.
Yesterday the setup new rules governing banks and short sales. A short sale exists when a home seller attempts to sell their home for less money than they owe and request that their bank accept less. Banks will be required to:
Approve or disapprove a short sale offer within 10 days of receipt of a full package
Fully release the borrower from all debt once the transaction closes
Subordinate liens will receive a maximum of $3,000.00
Sellers will receive $1,500.00 to help move
This all means much faster answers to purchase contracts and much better results for sellers. A buyer will no longer need to wait 90-120 days to see if they get to buy a home they love. If you would like to get more information or see how this new ruling affects you please e-mail us at info@coasttocoastflorida.com or call us at 813-907-9570. If you would like to know what the trend of home values for a specific neighborhood visit CoasttoCoastFlorida.com we will be happy to send you a free report and keep you updated as often as you would like.
