Today, there are a lot of Myrtle Beach Short Sales going off the market for extremely low prices! That is why it is very important for buyers and seller to understand what a short sale is and the process that it takes. Many buyers do not understand the short sale process and they become impatient when closing on a property seems to take forever. This is where the Jerry Pinkas Real Estate Experts come into play. The Jerry Pinkas Real Estate Experts will guide you through the short sale process and make sure that everything goes according to plan with the least amount of hassle. Our short sale specialists are very experienced with the processes and will be sure to do everything that they can in order to get things done for you the correct way throughout your buying process.

But first let’s explain what a short sale is. A short sale is a sale of real estate in which the sale proceeds fall short of the balance owned on the property’s loan. It occurs when a borrower cannot pay the mortgage loan for whatever reason. Some of the reasons could be unemployment, reduced income, divorce, medical emergency, job transfer out of town, bankruptcy, or death in the family. The lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure.

In simpler words a short sale is a win-win solution for the current home owner, the lender, and also the buyers. The bank/lender gets the highest price for a quick sale at the current market price. The home owner gets their credit restored and gets relief from possible future legal actions like a foreclosure. In a short sale, the homeowners get complete relief from all of their mortgage debt. For a buyer, a short sale is also a win-win situation for the reason that they can own a great property for a fantastic price.

If a short sale is what you’re after, call the Jerry Pinkas Real Estate Experts.

If you are interested in Myrtle Beach Condos for Sale or investing in a Myrtle Beach Oceanfront vacation condo, call Jerry at 843-839-9870 or sign up for LISTING ALERTS at http://www.buybankownedmyrtlebeach.com/

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