A short sale is a real estate transaction where a homeowner is facing hardship and gets permission from a bank to sell their property for less than they owe on the mortgage. If your house in Maui, Hawaii is worth less than what you owe on the home loan, a short sale maybe your best alternative to foreclosure.
Short Sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our Maui Short Sale Team has a High Success Rate on Approvals from the Banks and closed short sales in Maui - Kailua-Kona, Keauhou, Honokōhau, Kawaihae, Kalapana, Waiohinu, Kapoho, Discovery Harbor, Milolii, Pāpa‘aloa, Nīnole, Hōnaunau, Keokea, Paauhau, Ahualoa, Kaimu, Hakalau, Makalawena, Anaehoomalu, Kainaliu, Kawela Bay, Waipio, Keaukaha, Oahu, Big Island, Kauai, Molokai and Lanai, Hawaii.
Bank approves short sales when they believe a hardship situation exists, however, hardship is not only determined by how much money a person earns but also it factors in a person's expenses, especially if expenses have increased and income has decreased.
Let our experienced Maui short sale real estate agents help you avoid foreclosure in Maui, Hawaii. We will negotiate directly with your banks to get short sale approvals for you. Our goal is to reach out and educate homeowners who are behind on their mortgage or think they soon will be. We have solutions that may save your credit and enable you to start fresh.
Maui short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Maui short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.
Our professional short sale service is totally free for our clients. Contact us for a free confidential consultation today!
The simple schedule of loans and several associated approaches like the settlement of equal monthly installments has actually made buying a house an easy job. With the fast development of real estate service in Maui, you can rapidly plan an optimal home on your own now. Nevertheless, sometimes, such investments can end up being dangerous. Home loans on a house too can prove to be the hugest risk possible. You often can not come to terms with the area. At the same time, there are several chances that the value of your home can drop as opposed to appreciating. Consequently, the value of money that you have spent on your home is much more than its existing value. This eventually becomes a higher problem, if you purchased your house on a mortgage. To this rescue, comes a passionate solution referred to as Short Sale.
By short selling, we just mean that you can sell your undervalued home to another buyer with the permission of your bank. If the money owed to the bank happens to be more than the amount you will really get, in case you sell the house, after that the best decision would be to do so. If the bank agrees to a short sale, you can sell your house to a home buyer at its decreased value as well as obtain the balance written off by the bank. Normally, the bank crosses out your equilibrium from its account. The amount not paid by you shall be shown as income in your accounts by the financial institution.
Short sale Maui only happens when there is an absolute guarantee that the money value of the house can not increase in the future. To avoid the risk of a full loss, the bank often approves the lowered amount of short sale.
Dangers likewise exist if you are the one that purchases short sale homes in Maui County, HI. There are several usual mistakes that people make when they buy a house for themselves in short sale. If you are getting such a home, after that you must very carefully look at the condition of the house. Real estate investment will just be profitable if your house remains in good condition. An additional typical mistake is that of overlooking property issues. You should ensure that there are no forgeries or legal issues with the property that you are purchasing otherwise it may cause bigger problems in the future.