Short Sales in New Jersey, What You Need to Know Before You Buy or Sell

 

 

As an agent experienced in “short sales” in New Jersey, I find that there are a lot of misconceptions about what a short sale is and the short sale process. In this video I discuss:

  • How does a potential short sale affect you as a buyer?
  • What does a seller need to know if they owe more on their home than they can sell it for?
  • What are the pitfalls of short sales for buyer and sellers?
  • Do all sellers qualify for a short sale?
  • Do all real estate agents know how to successfully navigate a short sale?
  • How quickly can you close on a short sale?

A short sale is a transaction in which a seller’s lender accepts less than the balance due on a mortgage, enabling a seller to sell a property that they can no longer afford to keep and cannot pay off the balance of their mortgage due to a decline in value.

And here’s a funny video about 2 agents discussing short sales, just for fun!

 

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