Most of the time… nothing.

There are exceptions of course, but most of the time the bank pays all of the costs associated with selling including the real estate commission.  Sometimes having a lien on the property will cost you money because it needs to be paid before closing, but running a preliminary title search will  reveal any liens that are attached to the property.  It also depends on your lender.

Short sales can take anywhere from 6-8 weeks for bank approval, and sometimes longer.  There are an incredible amount of homes in foreclosure all across the country which have loss mitigators sifting through piles of short sale packages.  With that much competition for getting your file looked at, it’s extremely important that the person doing the short sale includes all of the information the loss mitigator is going to need to make their decision.

My short sales are handled by a short sale negotiator who has over 10 years experience with short sales.  This gives me more time to market and sell your home.

I know how difficult this situation is because I’ve seen the hardship this housing crisis is having on real people… real families.  People who never in their lives thought that this would be their reality.  Job losses have caused a whole new wave of defaults and the declining property values all over the area have made selling a home nearly impossible.

The only way the economy is going to recover, is to help the real estate market recover.  Short sales are one way to help that happen.  Once the banks are relieved of their toxic assets they will begin lending again.  Many of the small businesses that have relied on their lines of credit to order do business and pay employees will be able to provide jobs.  The lack of credit available in the market place was a direct result of the effect that foreclosures have had on the banks.

If you have a home in foreclosure in the Joliet, Shorewood or Plainfield IL area, I can help you sell your home at no cost to you.  I can then help you find a new home for you and your family.  Call me at 630-673-6233 to find out more about doing a short sale to avoid a foreclosure and deficiency judgment filed against you.

Julie Ferenzi | Realtor®
Plainfield IL Homes
630-673-6233