Stay or Don't Stay During a Short Sale?
A question I receive quite often from a short sale seller is should they move right away. First off you need to do what is best for your family. But with that said, It is best if you stay in your home while going through the short sale process.
There are several reasons that make it important to stay in your home during the short sale process.
- Usually an occupied home sells better than a vacant home.
- The home will be kept up, lawns mowed, gardens weeded and any maintenance issues taken care of. Abandoned properties deteriorate quickly. One big problems is pipes freezing.
- If you leave the home, the bank will consider it abandoned and take the steps to secure the home and could accelerate the foreclosure process.
What you can do, is start packing. Pack everything but the bare essentials and keep everything neatly organized in a garage or basement. You will eventually be moving anyways. Starting the packing process early will prevent a lot of chaos later on as well as make your home easier to show. You generally will have a minimum of 30 days to move but will generally have a good sense of when you should start looking for another place to live about 60-90 days ahead of time.
If it all possible stay in your property during the short sale process. It will help expedite the short sale and prevent a myriad of headaches.
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This post is provided by Kevin Vitali of EXIT Group One Real Estate. If you are facing foreclosure and don't know where to turn call Kevin. Kevin will explain your different options that are available to you and help you decide which option is right for you and your family. Call 978-360-0422.