Short Sale Realtor tip #10, Top 5 reasons why a seller should choose a Short Sale over a Foreclosure, Troy, MI:
- With a Short Sale, you have Leverage to negotiate terms with the bank, a Foreclosure you have none.
- Often with a foreclosure, the asset is worth less then the note so the investor can hire an attorney to collect through wage garnishment and liens up to 10 years or longer.
- A Foreclosure must be disclosed on future applications for credit and employment. Plus, security clearances can be revoked, denied or limited.
- A foreclosure on your credit report is almost impossible to repair and the drop of credit score takes years to recover from.
- Choosing a Short Sale shows that you made the best of a bad situation. It is something that you will look back at and say "it was not easy, but I feel better about taking control of life, and that has value".
Need more information, call me !
Mike Sher,
Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com
CDPE (Certified Distress Property Expert)
MCAR, Short Sale Trainer
Max Brook and Real Estate One Short Sale Specialist.
The Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
