Many of my Connecticut short sale clients are concerned that their home will be advertised as a short sale and the whole world will know about their unfortunate predicament.
Foreclosures are lawsuits and as such they are public information and broadcast online and in newspapers. Short sales simply require approval from the lender as the lender has to agree to take a loss. A short sale is not a legal action and instead allows a seller to gracefully and discreetly exit the home while avoiding foreclosure and settling their mortgage debt.
While it is necessary to disclose to buyers and agents on the mls that the property is a short sale and lienholder approval will be necessary, all property marketing is the same as with any other sale. There will be no “short sale” sign on the home, nor do I refer to the short sale in advertising, as it is not a selling point. As with any other home, when I meet with short sale sellers I give them ideas to help the home show in its best light, the property gets fully photographed and the home is marketed in all the same avenues as any non-short sale property would be.
The best odds of selling any home – including a short sale home – are in property presentation, marketing, and pricing properly. While proper disclosure of the short sale is necessary, your home will not be broadcast or advertised as a short sale.
Last Updated on September 12, 2017 by Minna Reid