Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

Ask the Expert

Got A Question?

Knoxville Short Sale Question Do I Have To Fix My Home Up Before I Sell?

In our "Ask The Expert Area" we had the following question the other dayFix Up Knoxville Short Sales “I lost my job recently but was able to find another job. But I'm making less money and can't afford to keep my current house because we can't afford the payments. We owe more on the house than it is worth and are considering a short sale. I have a two part questions. First because I'm making less money at my new job would we qualify for a short sale? Second our house needs alot of work would we have to fix it up prior to selling it. We really can't afford to put any money into the home now. Thanks Dan and Cathy” Here was our answer to their question. "Do you qualify for a short sale because of the drop income at your new job?" I would say yes you would because the drop income does create a hardship for you and it sounds like you can no longer afford your home. You need to explain that in detail in your hardship letter so the lender understand what has happen to you. Back it up with supporting documentation to prove it to the lender. With all that said I would encourage you to seek the advice of a qualified professional like a CDPE.  They can further review your situation and advice you on how to best proceed. Rick Smenner CDPE"Our house needs alot of work do we have to fix it up prior to selling it?" No you don't have to fix it up prior to selling it. This may actually may work to your benefit in getting a short sale accepted on the home. We make a list of the repairs needed on our short sale listings and provide pictures also to the lender. We want them to know that if they foreclose they are going to need to do work to the home. That works in to our benefit when working on a short sale. These are two great questions I hope we answered them for you. If you are having trouble making you mortgage payments you do have options other than foreclosure. Check out my resource page for some helpful materials. If you would like to talk about your situations please call me at 865-696-9002 or email me [email protected]. We help Knoxville homeowners avoid foreclosure let us help you.

facebook twitter linked in youtube