Selling your home as a short sale can be a good option when you find yourself confronted by financial pressure, and here in Clay County we have a great deal of homes on the market as short sales. One thing you can count on is it’s likely to be a long and sometimes frustrating journey as you are confronted by all the added requirements from the bank.  Along with the extra requirements with short sales, there is the potential that as soon as you think you’ve reached your goal; you learn your buyer walked.

 There are many common reasons this can happen. If the bank takes too long to approve your offer, the buyer can walk. If the appraisal is too low, or the home inspection shows too many issues, the buyer could walk. Sometimes when there are multiple offers, buyers will walk. Regardless of the reasons, this could leave you feeling as though you have to start all over. If you haven’t been making payments, you may be faced with foreclosure proceedings.  Avoiding this with swift action is a positive step.

 There are steps you can take to recover a foothold in this process. If you have multiple offers, you can move to a backup offer. Be sure to act quickly and decisively to lock it in. If you don’t have any back up offers, and you have an approved price from your bank, be sure to have your agent advertise this fact. The benefit of a potentially shortened lead time to closing with an approved price can go a long way to attracting a buyer in this new market, and to easing your concerns about getting your home sold.

 If you have questions about selling your Clay County home as a short sale or straight sale give us a call. We answer your questions with no obligations on your part.