Short sales and foreclosure are two things that can cause confusion to many people whenever their real estate properties are going through difficulties. There are people who are saying that foreclosures are better, while some are saying that short sales are better.
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2. Newport Beach Real Estate -
Short Sales and Foreclosure
Short sales and foreclosure are two things that
can cause confusion to many people whenever
their real estate properties are going through
difficulties.
There are people who are saying that
foreclosures are better, while some are saying
that short sales are better.
www.GabeColeRealEstate.com
3. Newport Beach Real Estate -
Short Sales and Foreclosure
Both have their valid reasons as to why they
think the other is better than the other, but in
order to give you more detailed information, I
will be showing you the difference between
these two very common real estate terms.
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4. Newport Beach Real Estate -
Short Sales and Foreclosure
Credit Rating
The effect on the credit rating of a person will
be negative regardless of the option that he
takes. However, if you are going to get into a
short sale, the reduction in your rating will be
less compared to a mortgage.
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5. Newport Beach Real Estate -
Short Sales and Foreclosure
It will be easier for you to recover from your
loss if you are going to get into short sales.
If you are going to ask me, none of these is the
best, but if you are left with no other choice,
then short sales would be better in terms of
credit rating.
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6. Newport Beach Real Estate -
Short Sales and Foreclosure
Fees
When it comes to the real estate fees that you
have to pay, foreclosures are better because
they have fewer fees, and the amount that you
have to settle will be lower.
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7. Newport Beach Real Estate -
Short Sales and Foreclosure
The main reason why there are a lot of people
who are not getting into this is because there
are lenders who are asking for large fees after
approving the sale.
Keep in mind that you are going to lose your
real estate property because you are
experiencing financial difficulties, and why
would you even dare to pay additional fees?
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8. Newport Beach Real Estate -
Short Sales and Foreclosure
Time
The reason why there are people who are
getting into short sale before foreclosure is
because this will help them buy more time to
look for the funds that they need.
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9. Newport Beach Real Estate -
Short Sales and Foreclosure
People who are having problems with their
finances often need to have more time, and
getting into short sale is one of the best options
for them.
In real estate, owners who have their properties
listed have 60 days to gather the funds or sell
the property.
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10. Newport Beach Real Estate -
Short Sales and Foreclosure
Real Estate Agent
The problem with short sales is that you need to
have an agent who can help you look for a
buyer. Since the agent will get less commission
for it, most of them would simply hide it from
buyers, and focus on selling normal priced
properties.
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11. Newport Beach Real Estate -
Short Sales and Foreclosure
This is also a problem when it comes to short
sales, and is the reason why most people are
getting into foreclosure.
But you can talk to a real estate agent and
explain your situation. In most cases, the agent
will understand you, and will make an
exemption for the rule that they have set
themselves.
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12. Newport Beach Real Estate -
Short Sales and Foreclosure
Get more information about Newport Beach
real estate by visiting my website now! I can
provide you with all the information that you
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Visit our website now to find more information
about Newport Beach real estate.
www.GabeColeRealEstate.com