The Jones team has helped many clients both buy and sell short sales. We know the different banks and how they work short sales, the different stages of the process and pros and cons of the process.

With so many short sales available we hear this question posed to us over and over again:   

Are Short Sales worth the hassle?

Our answer is YES!  

The fact is short sales don't have to be a hassle to a buyer or seller if the agent representing you understands them and explains the process!  To a seller they can be a blessing as most banks will allow the seller to short sale the property and agree to not go after a deficiency judgment.   Also most sellers get to stay in the house and not pay a mortgage payments while the short sale is being negotiated.  To the banks short sales are also a blessing as the bank is not responsible for maintaining and securing a vacant property.   To buyer's the third party or bank will typically take 88% of the appraised value.  Since most banks are slow at giving approvals the Appraised value could be from months ago and in a rebounding market like Salt Lakes this can be a huge savings to a buyers!

If you ever have a short sale question call, text or email Mark or Monte you might be surprised how simple they can be when you work with a professional that understands them!