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Short Selling in Richmond Hill: A How-To

Short selling in Richmond Hill isn’t any homeowners ideal real estate investment exit—but they can be necessary for many individuals, couples and families. They can also be handled professionally, in a relatively stress-free manner—so take a moment to breathe. We can help.

Short Selling in Richmond Hill: A How To
Short selling is a complex and extremely precise process. It can resolve a bad situation by steering you clear of foreclosure—but it needs to be handled by professionals who can guide you through the process. Specifically, you will need a real estate attorney, real estate accountant and a real estate agent, all of whom need to have extensive experience in short selling in Richmond Hill.

Short Sale: Permission
Before you look to a short sale to solve your foreclosure problem, you need to speak with your real estate attorney, real estate accountant and your lending institution. Your lending institution will have specific rules about which properties qualify for short selling. They will either agree or disagree to the proposed short sale, and agree to a specific discounted payoff.  Once they have agreed to a short sale you will need to discuss with your real-estate accountant the necessary taxes and fees that will need to be paid. Then, you’ll be able to decide if a short sale is a viable option for you.

If you decide on a short sale you’ll need to speak with a real estate agent who is experienced in short sales. Enter the Wan Team.

Short Selling and The Wan Team
When you come to the Wan Team with a short sale, we will advise you to begin preparing your move as we begin selling the property. Short-sale homes generally don’t last on the market long, and to avoid paying additional mortgage fees you will likely be looking for a short closing date (as will the homebuyer), which is why we advise you to prepare for moving. In this aspect they are quicker than foreclosures, which can allow you to stay in your home for months.

Throughout the process we can assist you with your future moving plans and in planning your overall financial future as the bank will receive all the proceeds from the sale of your home (and they will be taking a loss doing so), which means you will need to readjust your financial situation.
Let our experience work for you—and let us help you through this difficult process. We’ve helped ease the situation for many clients and can do the same for you.

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