When a property owner is in a financial mess and is no more in a position to clear his mortgage loan, he can opt for a short sale. When a lender allows a short sale he has to accept less money than that is due from the borrower. A lender agrees to this only when he is convinced that the owner is in dire financial straits. Short sale specialists facilitate the process of short sale. They are usually certified short sale agents and are designated by the National Association of Realtors.
A short sale is a constantly evolving process. Banks change rules every now and then to meet the requirements of the market. Likewise states amend legal provisions to plug loopholes or even safeguard property owners. A short sale specialist would be aware of all these changes as and when they take place. So, they can guide property owners the right way.
There is no dearth of Short Sale Specialists in the market. However, many masquerade as specialists. Such people can lead property owners down the wrong aisle. They neither have the expertise nor the experience to deal with such complex real estate process. So, it is always safe to verify the authenticity of a short sale specialist.
As short sale is a better option than foreclosure, it is always safe for a defaulter to opt for short sale. Short sale specialists can make sure that the process is completed according to the laid out rules.
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