Yes, you can still live in your home if it is a short sale or foreclosure and you should. There are at least 2 very good reasons to say this.
- You are still responsible for your home; you want to make sure it is kept up nicely so you can get the best sales price for it.
- While you still live in your home, you do not have to pay rent anywhere else.
Think about it, with a short sale or foreclosure situation here in Saint Petersburg, the ones that have the best chance to sell, are the ones that are owner occupied. The properties are still cared for and kept up nicely and will get better offers and eventually a better sales price. The “abandoned” houses and condos usually look very sad, they are dirty and do not show nice. A lot of people think that banks want them to move out ASAP. That is just not true. In a Short sale situation or foreclosure, the bank as in interest in keeping the home as nice as possible and the easiest way is to have the home owner live in it. We see properties, where the seller has moved out, the grass is growing, the weeds are growing, the electricity is off etc. These homes are just not attractive to buyers.
Anne Hensel, Realtor, CSP, Short Sale Professional, working with homeowners and buyers to successfully close a short sale transaction in Pinellas County Florida. A lot of people here in the Saint Petersburg, Seminole area are facing a short sale situation, Waterfront properties on Saint Pete Beach or Treasure Island as well as little homes in Seminole or Gulfport. Give me a call today and find out what your options are. Your short sale consultation is free of charge and confidential.