Buying Short Sales in Tooele UT
The Basics You Need to Know About Short Sales in Tooele UT
Short sales in Tooele County are used by homeowners to prevent losing their homes to foreclosure. When you see an advertisement for a short sale in Grantsville UT, Stansbury Park or Tooele City the home is in pre-foreclosure.
What is a short sale? It is an agreement between the sellers of a home in the beginning stages of foreclosure and their lender which allows the home to be sold for less than the existing loan balance. If an agreement is reached by all parties, a short sale could save the sellers’ credit by avoiding a foreclosure.
A short sale is not a short process, however. It is a lengthy process with many legal and financial aspects.
The basic short sale process flows as follows:
What are the benefits of a short sale? The seller is relieved of the debt they cannot afford, a foreclosure proceeding by the lender is avoided and the buyer purchases the home at a discounted price.
Whether you’re a seller who is interested in selling your home as a short sale or a buyer who wants to purchase a short sale in Tooele County I can help. Please call me today at 435-840-5029 or visit our website @ Tooele Real Estate.
You can see Tooele County homes listed as short sales @ pre foreclosed homes in Tooele.
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