Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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3 Keys To Knoxville Short Sale Success

Knoxville short saleswriting can take some time and effort to complete. For Knoxville homeowners facing foreclosure, the time and the effort put into a short sale is well worth it to avoid foreclosure. If you're pursuing a Knoxville short sale this year, here are three keys to Knoxville short sale success. One large key to Knoxville short sale success is price. The price on a short sale has to be just right. It can't be too high or buyers won't want to buy it, and it can be too low or lenders won't accept a short sale. The price has to be just right on a Knoxville short sale, so all parties involved are happy. An experienced short sale agent will be able to help you price your home at a fair price that will please both buyers and your lender, and will be able to back up the prices with comparable homes in the area. Another key to Knoxville short sale success is hardship. In order to get a short sale approved, it is extremely important to document your hardship properly. Lenders want to see that a short sale is a last resort. With the help of financial records and a hardship letter, it is possible to help plead your case with your lender to show why a short sale is absolutely necessary. Finally, the last key to short sale success is a solid contract. With short sales being tricky transactions, it is important that the terms on the contract are simple and don't hinder short sale success. Short sale contracts need to be flexible about closing dates and not have any major contingencies. In addition, it is important that it is clear that a buyer is able to secure financing. If there is anything in a contract that raises a red flag to a short sale lender, the lender can deny the short sale altogether. While short sales can be tricky transactions, they are well worth the effort. A short sale has a far better outcome than going through foreclosure.
Are you underwater on your Knoxville home? Do you want to hear what options you have to avoid foreclosure? If so, please do not hesitate to give my team a call at 865-696-9002 or send an email to [email protected]. We’ve helped countless Knoxville homeowners avoid foreclosure. Give us a call today for a free consultation.

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