Daytona Beach Short Sales

short sale daytona beach port orange florida real estateIs the property value of your home less than the mortgage obligations? If it is, you may be a candidate for a Daytona Beach real estate short sale. The sale of your home may not net enough money to pay off your loan, including closing costs, property taxes, transfer taxes, and broker’s commission. If you cannot pay off your loan with additional cash or proceeds from the sale of your property, then a short sale may be an option for you to consider.

Port Orange Short Sales

In order to complete a short sale, banks will usually require some type of financial hardship.  Some hardships include a job relocation, a divorce, loss of job, and a sudden change in health. The lender will require some evidence in order to consider this sale option. A mortgage company or bank may accept a short sale for the following reasons:

  1. New construction homes selling faster than resale homes
  2. The area has depreciated in value
  3. The home is in poor condition
  4. Avoid increasing its home inventory
  5. Avoid the expensive cost of foreclosure

Short sales may have consequences and it's always recommended to consult an attorney. There are important steps to follow and disclosures that should be make in order to complete a short sale successfully. For more real estate short sale information, contact Kevin Kling. He can assist and provide information for sellers in the Port Orange and Daytona Beach real estate market.

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