I want to sell my Clearwater home but I’m Upside down on my Mortgage – now what?

Clearwater Florida -The first thing Clearwater home sellers need to know in this real estate market is “What’s my home worth right now?”. Our experience shows it all depends on where YOU live. Please ask for a FREE Comparable Market Analysis Report on your home so you can see what homes are actually selling for now in your neighborhood! No obligation, of course.

Unfortunately, Clearwater home sellers today are finding that Tampa Bay homes are currently selling for what they were back in 2004. If you bought your property in the last 5 years or utilized your home’s equity you may owe more on your home than it will appraise for which means selling for what you owe in today’s market almost impossible.

So what do you do when you need to sell your home and find yourself saying:

  • I’m upside down on your mortgage
  • I have negative equity in my house
  • I owe more than my house is worth
  • I’m facing foreclosure
  • I’m unable to make my mortgage payments
  • I’m getting Divorced
  • I’ve lost my Job
  • I’m relocating and moving away
  • My adjustable rate mortgage is adjusting

If you find yourself in any of these situations we recommend that you find out all your options and please don’t be like 90% of home owners in pre-foreclosure who do not ask for help to negotiate a Short Sale with their bank(s), and to sell their home before the bank forecloses. This is not a time to just “hope things will get better” or bury your head in the sand or worse yet, operate from misinformation.

What is a Short Sale and How can it Help?

Basically, a Short Sale occurs when your home is worth less than the loans owed on the house (first and sometimes a second mortgage), and the bank(s) agree to let you sell your home BEFORE the bank forecloses and takes your property.

A short sale is where we negotiate with your bank and they agree to accept less than the actual amount you owe as payment in full, allowing you and the banks to avoid costly foreclosures. Realize you do NOT always have to be behind in mortgage payments to do a short sale. When the home sells the bank pays us a commission on your behalf for our services. You, as the home seller don’t pay us anything! A Short Sale proves to be a “win-win” solution for everyone involved.

Realize that the Short Sale is just one option the bank may choose when dealing with the situation. I repeat, the bank may choose – Yes, it is the bank’s choice and not yours! I won’t cover all of these options, but if you decide to have us sell your Clearwater property, we will work with you and your bank in an effort to get a short sale approved.

Clearwater Home Seller asks Can’t I just give the Keys Back to the Bank?

We understand the stress you’re feeling and the pressure these financial burdens are causing on you and your family, recently we helped a Tampa Bay family who felt the same way and they needed to sell their home quickly. They asked us for a no obligation CMA and they found out they owed at least $50,000 more on their home than their property would sell for today. Imagine their disappointment.

Frustrated and feeling at their wits end they’d never been in a situation like this before – they hadn’t missed any payments but they felt like it was just going to be a matter of time. They actually said they were ready to give up and just “give the house back to the bank” – this is one of the biggest myths out there. Please let us explain to you why this is a HUGE mistake! Thankfully this family agreed to take the time to meet with us so we could learn about personal situation and we were able to give them our advice based on our experience and their specific needs and help them determine their best options based on their goals.

The good news is that they decided to pursue a short sale and found we were able to successfully negotiate with their bank and help them quickly sell their home, getting rid of this heavy financial burden (which was staining their marriage). Now they are able to move forward to a new job in another state while having the whole short sale process go smoothly and stress-free.

Their bank even agreed to forgive the shortfall (deficiency) and paid all fees associated with our services giving them a fresh start. If you discover your best option is to sell your home and you owe more than your home is worth we recommend you choose Clearwater Realtors like us, that specialize in short sales and have the skills to help you remove this heavy financial burden from you and your family now.

Please know you’re not alone, a lot of Clearwater home owners are having financial problems today and these are just a few of the most common problems we hear about from friends, family and neighbors like you who call us to help them sell their home. We find many of these people have read or heard about a short sale and do not understand what this means, how a short sale occurs, and the ramifications.

It’s worth mentioning that we are not attorneys or accountants, and we highly recommend you talk to both an attorney and an accountant to receive their professional advice on how to proceed as one of the very first step you take.

Do You Need Sell Your Clearwater Home Now?

Again – if bears repeating – Please don’t be like 90% of home owners in pre-foreclosure who do not ask for help to negotiate a Short Sale with their bank(s), and to sell their home before the bank forecloses.

  • Act now!
  • Be proactive!
  • Get professional advice Today with no pressure!
  • Don’t go down with a sinking ship!

Call us now and let us know what you need help with today! – 727-710-8036.

Call us to schedule a FREE private consultation to fully understand your options (no pressure no hassles – guaranteed). Many home sellers are now understanding that a short sale is the option they’ve been looking for.
We have built our Tampa Bay real estate business from the beginning on helping home buyers and home sellers in our community like you.

Our personal mission is to be part of the solution – using our negotiating skills along with our short sale and marketing expertise to successfully sell your home and negotiate a short sale for you if needed.

We have the specific knowledge and skills needed to acheive your goals in this Clearwater real estate market. We will aggressively market your home to get a fast sale, and work very hard to get rid of your headaches and help make the deal go as smoothly as possible.

We have helped many home owners sell their Clearwater homes, quickly and painlessly even in this difficult real estate market. One of our clients who’s bought and sold lots of homes in Pinellas County even dubbed us the “painless Realtors”.

Clearwater Beach Real Estate Agents get Florida Seller’s Kudos

In fact, like the seller above says, we may already have a buyer for your property too because we understand that over 84% of home buyers today are finding their next house on the internet which is why when you use our Wise Home Selling Plan we make sure they are seeing your home first.

Looking to Buy a Clearwater Home?

If you want to buy a house in the Clearwater Florida area- we’ve made it fast and easy for you to search all the Clearwater homes for sale . Search just like a Clearwater Realtors and see all the properties being sold by all Clearwater Real Estate agents.

Enjoy our fully customizable search of complete Clearwater MLS (multiple listing service) of single family homes, condos, villas and townhomes. We also specialize in helping you buy Clearwater real estate.

Whether you are buying or selling a home in Clearwater / St Petersburg / Tampa Bay

We are here to help you – Give us a Call today! – 727-710-8036.

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5 Comments

  1. Hey Jack! Great post. I’m amazed at how many questions I get from friends of clients who are in trouble with their mortgage and don’t understand the difference between foreclosures and short sales. Seems like the short sale is sometimes viewed as the elusive / extinct “Ivory-billed Woodpecker!” Thanks for adding some clarity!

    I’ve added you to my Google reader account, so I’ll be able to follow your posts on the subject. Thanks for adding some clarity!

  2. Pingback: Examples of what not to do | showingmyhouse.com

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