Rigid Capital Investors will now purchase short sales from distressed property owners. A short sale is the process of a property being sold for less than what is owed on the mortgage(s). The process is usually initiated when a home owner presents an offer from a potential buyer directly to the bank or by hiring a real estate agent to sell the home and allowing them to negotiate the short sale on behalf of the seller. Most investors will negotiate the short sale on behalf of the seller once the offer is presented. This requires the seller to provide written authorization for the investor to do so. The next step is waiting for the banks response. This can usually take between 1 – 6 months. Banks are now required to either accept the short sale or present a counter offer.
Once a purchase price is agreed upon by the bank and the investor, the closing is scheduled and the seller is able to avoid foreclosure. In addition to avoiding foreclosure, the other benefits of a short sale include, debt forgiveness, credit score improvement, relocation allowance and being able to move on with your life. Once a short sale is sold the seller is free to purchase another home as long as their credit is in good standing. It is very expensive for a bank to foreclose on a property, the legal fess and loss of time add up very quickly. As a result banks are becoming significantly more receptive to approving short sales.
Rigid Capital Investors specializes in negotiating short sales on behalf of home owners and has successfully helped distressed home owners, get their debt forgiven, receive relocation expenses from lender, start the process of credit repair and giving sellers a fresh start. To learn more about short sales or other ways to avoid foreclosure visit www.Foreclosure-Freedom.org or call us at 800-884-9056. If your facing foreclosure we can help.